Roehl Niño Bautista · · 1 min readBinance Labs leads $1.5m seed round of play-to-earn guild
Cosmic Guild, a play-to-earn (P2E) gaming community, has raised US$1.5 million in seed funding led by Binance Labs, the venture arm of cryptocurrency exchange firm Binance. The round also saw participation from DeFiance Capital, Alameda Research, and Play Ventures.
Photo credit: Burdun / 123RF
Started in November, Cosmic Guild operates largely in Southeast Asia. It has more than 600 scholars playing Axie Infinity, a popular P2E game developed by Vietnam-based startup Sky Mavis. The community will use the fresh funds to expand its gaming portfolio by adding five more P2E games.
“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 Kenneth Lee, co-founder of Cosmic Guild.
See also: Binance withdraws SG crypto exchange license application
Earlier this month, Binance Labs also led Bulletin Board System Network’s US$1.5 million fundraise.
Editing by Collin Furtado and Lorenzo Kyle Subido
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