Binance Labs, the venture unit of crypto currency exchange, led a US$1.5 million seed round for Cosmic Guild, a play-to-earn (P2E) gaming network. Alameda Research, DeFiance Capital, and Play Ventures were also among the investors in the round, each of whom capitalised on the increased interest in DeFi, NFT, as well as the Metaverse, respectively. The funds would be utilised to enhance Cosmic Guild’s collection of NFTs as well as digital gaming assets, giving Cosmic’s network of players additional options.
About Cosmic Guild
Cosmic Guild is a dedicated team of gamers dedicated to enabling the players to contribute effectively by bringing together NFT capital with expert crypto players. The guild was created on the hopes that video games, as well as the cosmic potential of NFTs, would inspire millions of people all over the globe to improve their lives via gaming. Games bring people together, as well as they can help us create a world devoid of racial background.
The Play-to-earn gaming concept interrupts existing games in which firms grab nearly all of the economic wealth produced in the game without distributing it to the players, who have been the main people investing in the community and playing the game.
A metaverse gaming platform popularly known as Cosmic Guild has received $1.5 million in seed funding from Binance Labs – the fundraising as well as innovation incubator.
Cosmic Guild, which began operations in November, is mainly centred on Southeast Asia. It has over 600 students enjoying Axie Infinity, a popular peer-to-peer game created by Sky Mavis, a Vietnam-based firm. The new revenues will be used to extend the community’s gaming portfolio by introducing five new P2E games.
More than 1250 scholars are also still hoping to be accepted into the scholarship programme.Cosmic Guild will indeed be willing to loan NFT Games to additional academics as well as extend their gaming portfolios with the freshly acquired funds.
“Our objective would be to encourage individual game players across various countries to join together as game players, not just to play the game and earn from it, but also to play-for-pleasure, build deeper connections, and also have fun together in the metaverse world,” stated Kenneth Lee, Co-founder of Cosmic Guild. The guild intends to act as a connecting point for players as well as NFT holders, as well as a place where capital as well as skill may meet.”
“The Guild plans to continue new games debuting on the Binance Smart Chain platform, as well as other games in the Binance community, and indeed the team of the Cosmic Guild is also excited about making announcements shortly,” he continued.
Binance Labs recently led a US$1.5 million crowdfunding for Bulletin Board System Network earlier in this month.