Binance Labs Invests in Gaming DAO Merit Circle to Expand the Play-to-Earn Industry
Binance Labs, the venture capital and innovation incubator of Binance, has invested in Merit Circle, a decentralized autonomous organization (DAO) that develops opportunities within the play to earn industry for people who want to help build the metaverse.
Bill Qian, Head of Binance Labs, said: “We see Merit Circle as a high potential DAO with a deep understanding of play-to-earn mechanisms and the gaming industry. That’s why Binance Labs invested in MC last November and will keep working closely and continue to build a gaming ecosystem together on BNB Chain.”
Binance Labs now becomes a contributor to the Merit Circle DAO alongside industry players like DeFiance Capital, Mechanism Capital, Spartan Group, DCG, Maven11, OP Crypto, Dialectic, CitizenX, Yield Guild Games, and Bitscale Capital. The goal is to support Merit Circle in its endeavors wherever possible within and outside the Binance and BNB Chain ecosystem.
After their record-breaking Balancer Liquidity Bootstrapping pool on Copperlaunch — raising $105,576,956 —Merit Circle immediately stood out from the crowd with one of the largest non-native treasuries in the entire industry, surpassing household names such as Uniswap.
“Merit Circle is more than a gaming guild. It’s a play-and-earn gaming DAO focused on shaping and building the future of the metaverse. We invest in promising games, play them with our community, educate people, and build our own products. All value accrued from our work flows back to the Merit Circle DAO. We have a unique position in this industry and are very pleased to welcome Binance Labs among our valued partners. Together, we will shape the future of GameFi, says Marco van den Heuvel, Co-Founder & CEO at Merit Circle.
Merit Circle aims to become the first vertically-integrated Gaming DAO.It will continue to focus on the gaming industry by involving more top gamers, launching an NFT and metaverse fund, and launching their own creative projects like Edenhorde. At the same time, Binance Labs and BNB Chain will support Merit Circle’s mission to bring blockchain gaming to the next level.