Cosmic Guild, a play-to-earn (P2E) gaming community, has received US $1.5 million in early investment led by Binance Labs, Binance’s venture capital and incubator arm. DeFiance Capital, Alameda Research, and Play Ventures are among the co-investors.
Cosmic Guild will be able to loan more gaming non-fungible tokens (NFTs) to guild scholars when they play games thanks to the investment. The company will also diversify its gaming portfolio by introducing games on the Binance Smart Chain or within the Binance ecosystem.
To encourage players, Cosmic Guild has launched scholarships in Axie Infinity, which is owned by Vietnamese P2E unicorn Sky Mavis. So far, the community-first guide has provided NFT assets to over 600 scholars, and it is believed to spend its profits in breeding new Axies and expanding its scholar pool.
The one-month-old company works as a decentralised autonomous organisation (DAO) with the goal of increasing yield and forming communities.
“The funds will be used to invest in yield-generating digital game assets that exist in NFTs and expand the scholarship programme run by Cosmic Guild. We will continue to expand our Axie Infinity scholarship programme and have launched our Pegaxy scholarship programme,” it stated in an article on Medium.
“Cosmic will continue to grow in the GameFi and Play-to-earn space and are actively looking for more games to partner with and expand our scholarship programme,” it added.
The team predicts that the complexity and skill requirements of P2E games will rise. In all games, the meta evolves from time to time, forcing managers and players to continuously rethink strategy and invest cash.
As a result, Cosmic Guild maintains a portfolio of NFT game assets of crypto games that are lent to guild members who may play the games with the NFTs and earn yields.
“Our mission is to empower individual gamers across different societies and come together as gamers, to not just play-to-earn, but to also play for fun, form meaningful friendships and have fun together in the metaverse,” said co-founder Kenneth Lee.
