SINGAPORE, Tuesday, January 23, 2024- Blockchain development company SkyArk Studio 1, announced recently that it had secured $15 million in a Series A funding round led by cryptocurrency giant Binance Labs. 2 The funding round, which also saw participation from prominent venture capital firms Draper Dragon and NGC Ventures, is expected to boost SkyArk Studio on many fronts.
The secured funding holds the potential to propel the organization forward on multiple fronts.
Firstly, it can facilitate the expansion of its team by attracting top talent in blockchain development, engineering, and product design. This strategic move aims to support the company’s ambitious growth plans.
Secondly, the financial injection can expedite product development, specifically the enhancement of its flagship blockchain network, Ark.io.
The company also plans to explore the creation of innovative decentralized applications (dApps) across diverse sectors, including finance, gaming, and data storage.
The funding is poised to contribute to ecosystem growth by investing in promising early-stage blockchain projects, thereby actively participating in and promoting the overall development of the Web3 space.
Reports said that the advancements in its flagship blockchain Ark.io, promise developers enhanced flexibility and ease in crafting decentralized applications (dApps), streamlining the development process.
- SkyArk Studio: https://www.skyarkchronicles.com/news/binance-invests-in-skyark-studio/[↩]
- Binance: https://www.binance.com/en/blog/ecosystem/binance-labs-launches-season-3-of-incubation-program-421499824684903042[↩]
