Crypto Gaming United, a startup aiming to build a global community of nonfungible token (NFT)-focused play-to-earn gamers, hraised $5 million in an oversubscribed seed funding round.
A Sept. 8 announcement notes the round was led by famed Australian venture capitalist Mark Carnegie and Chrono.tech CEO Sergei Sergienko — with the pair having co-founded the crypto-focused asset manager MHC Digital Finance.
Australian investment managers Shaw and Partners and Blockchain Assets also participated in the round.
Crypto Gaming United was established in August of this year and has already attracted more than 1,500 members and has a waiting list of almost 40,000. The guild helps members play the popular NFT-based game Axie Infinity by offering scholarships where sponsors provide expensive in-game assets to players who can use them to generate revenue.
Despite its seed round being led by Australian investors, the guild predominantly comprises Filipino players, with users also hailing from Indonesia, South Africa, and India. With most guild members hailing from low-income economies, many