Binance Labs Leads $1.5 Million Seed Round for Cosmic Guild to Support Scholarships and to Strengthen NFT Portfolios
Binance Labs led $1.5 million seed round for Cosmic Guild, a play-to-earn community of gamers. The funds will be used to expand Cosmic Guild’s portfolio of NFTs and digital game assets to offer more opportunities to Cosmic’s community of gamers.
Binance Labs, the venture capital and innovation incubation arm of Binance, today announced that it has led the $1.5M seed round for Cosmic Guild, a play-to-earn community of gamers. Cosmic Guild believes in empowering communities and accelerating play-to-earn crypto gaming ecosystem, and holds a portfolio of non-fungible token (NFT) game assets of top tier crypto games that are loaned to guild members who can play using the NFTs and earn yield on games.
Currently, the guild is providing NFT assets in Axie Infinity for more than 600 scholars. Still, more than 1250 scholars are waiting to be included in the scholarship. With the newly secured funds, Cosmic Guild will be able to loan gaming NFTs to more scholars and to expand their gaming portfolios.
Kenneth Lee, Co-founder of Cosmic Guild, said: “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. We hope to serve as the gateway platform for gamers and NFT-owners and as the confluence of capital and talent to meet.”
He added “Cosmic Guild is planning to support upcoming games launching on Binance Smart Chain and other games in the Binance ecosystem, and the team is excited to make announcements soon.“
Nicole Zhang, Investment Director of Binance Labs, said: “The team behind Cosmic Guild has a strong track record in the crypto ecosystem, and with the rich experience, Cosmic Guild became one of the gaming guilds with the most rapid growth. Binance Labs hopes to see Cosmic Guild expand its NFT portfolios and offer more scholarship opportunities for the gamers.”
Other co-investors in the Cosmic Guild seed round include DeFiance Capital, Alameda Research and Play Ventures.