Binance’s VC arm will help Merit Circle become the “first vertically integrated Gaming DAO”.
Blockchain gaming is a highly anticipated market, speculated to be the future of video games. According to a report by the Blockchain Game Alliance (BGA), video games integrating digital assets brought in about $2.32 billion in revenue last year.
The latest initiative comes from Binance Labs through an investment in a gaming DAO called Merit Circle. With Binance’s support, Merit Circle will seek to build a valuable space for gamers with an upcoming “NFT and metaverse fund”, and prepare to launch its NFT creative project Edenhorde.
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Late congratulations to @MeritCircle_IO to join the Binance Labs family!https://t.co/Ug71Z2sbDz
— Binance Labs Fund (@BinanceLabs) Apr 13, 2022
Merit Circle has previously attracted several other investors in the blockchain industry, including Defiance Capital, Maven11, Mechanism Capital, Dialectic, Bitscale Capital, Yield Guild Game, CitizenX, Spartan Group, DCG and OP Crypto, with the previous “Liquidity Bootstrapping Pool” of the DAO. over $105 million.
Speaking about the investment in Merit Circle, Binance Labs head Bill Qian stated:
“We see Merit Circle as a high-potential DAO with a deep understanding of earning mechanisms and the gaming industry, which is why Binance Labs invested in MC last November and will continue to work closely and build a gaming ecosystem together. on BNB Chain.”
Next, Merit Circle CEO Marco van den Heuvel highlighted the platform’s community-driven ecosystem and investments in “promising games,” with Merit Circle’s job of “shaping the future of GameFi” being the primary goal.
by Dom Z. – Crypto Analyst, BitDegree