Binance Labs Makes Strategic Investment in Star Sharks to Grow the Gaming Sector in the Binance Smart Chain Ecosystem

SINGAPORE, Nov. 1, 2021 /CNW/ -- Binance Labs, the venture capital arm and incubator of Binance, announced a strategic investment in Star Sharks, a community-driven shark metaverse where players, developers, and investors can own, mate, and trade the underlying shark NFTs within the ecosystem.

Star Sharks is a blockchain game start-up established by a talented team from Timi Studio Group, which has an impressive entrepreneurial track record of making games that attract more than 1 million daily active users within 3 months. Through the strategic investment, Star Sharks plans to attract more talent to join them in creating the next generation of blockchain games.

Chase Guo, Investment Director of Binance Labs, said: "The Star Sharks team has deep gaming expertise and extensive product design experience. After launching their GameFi platform on Binance Smart Chain (BSC), we believe that Star Sharks will be an important contributor to the development of the gaming sector and therefore benefit all users in the BSC ecosystem."

Star Sharks' very first game, Starsharks.Warriors, is built on the BSC and set to launch in November 2021. Starsharks.Warriors is an NFT-3D mobile game set in the oceanic world. Players will be able to own, mate for higher values of underlying NFTs, trade, and compete with their pet sharks for economical returns. Governance token holders will also be able to share up to 80% of total game revenues.

"At Star Sharks, we are dedicated to ensuring that everyone has fair and equal rights to access decentralized games. We have seen how decentralized games have the potential to build an inclusive, passionate global community, and Star Sharks wants to achieve that in our Shark metaverse. With Binance Labs' strategic investment, we believe that we have the support needed to achieve our vision," said Franky, CEO of Star Sharks.

Star Sharks team will add a new radical referral mechanism to their games. Through the referral programs, ancestor users will receive tokens based on the competition activity rewards of the users they have referred. StarSharks will also add an NFT leasing feature in its NFT marketplace for users to 'rent to play'. This feature will fully activate the liquidity and utilization of NFT assets, and bridge the gap between NFT holders who don't have time to play and active players who don't have enough initial capital to purchase entry NFTs.

SOURCE Binance Labs