After Binance Labs completed the NFT sale of the blockchain game SkyArk Chronicles, it suddenly pointed out that SkyArk’s previous claim of “Binance Labs leading the investment” was incorrect. The two parties engaged in a back-and-forth on Twitter, and eventually SkyArk apologized and initiated the refund process.
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Dispute over Financing between SkyArk Chronicles and Binance Labs
Binance Labs: Forced to Issue a Unilateral Clarification
SkyArk Chronicles Apologizes and Initiates Refund Process
Dispute over Financing between SkyArk Chronicles and Binance Labs
January 12th:
SkyArk announced the completion of a $15 million financing round, claiming that Binance Labs led the investment.
January 26th:
SkyArk started selling Genesis NFT, with the deposit address briefly surpassing 50,000 ETH.
January 29th (16:00):
Binance Labs suddenly clarified that SkyArk was indeed part of the third incubation and investment project, but Binance did not participate in the latest financing round.
January 29th (16:38):
SkyArk quoted the Binance Labs third incubation project article, pointing out that this was the only financing round.
January 29th (17:53):
SkyArk co-founder Kelvin Chua held an AMA, emphasizing that Binance Labs did participate in the financing and held the largest share.
Binance Labs: Forced to Issue a Unilateral Clarification
Due to SkyArk’s repeated rebuttals, Binance Labs finally issued a lengthy statement stating that they had no prior knowledge of SkyArk’s $15 million financing, and of course, there was no involvement from Binance Labs as the lead investor.
After SkyArk released the financing announcement on the 12th, Binance Labs had requested corrections and the deletion of any content related to Binance. However, on the 29th, it was discovered that SkyArk only deleted the financing tweet without making any further announcements. This prompted Binance Labs to issue a unilateral clarification.
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Binance Labs stated:
The development of a project will not collapse just because Binance Labs clarifies the facts. If a project relies solely on misunderstood expectations, then it is not truly brilliant. We hope that everyone focuses on the product itself and does not speculate based on Binance Labs leading the investment. We state the facts and hope that the project continues to strive and reach new heights.
SkyArk Chronicles Apologizes and Initiates Refund Process
On the evening of the 29th, both SkyArk and co-founder Kelvin Chua tweeted apologies.
At the same time, SkyArk also announced the initiation of the refund process.
The misleading tweets from SkyArk were obviously the instigator of the incident, but since Binance Labs attached such importance to those tweets, they should have continued to monitor whether SkyArk clarified the situation. Instead, they only provided a unilateral explanation after the completion of SkyArk’s NFT sale. The mistakes from both sides led to this regrettable incident.
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