Crypto Gaming United managed to collect $5 million during a round of seed financing. This startup company has a mandate to create a global community of NFT (Non-Fungible Token) enthusiast gamers interested in play-to-earn.
Marke Carnegie, an Australian Venture Capitalist and Sergei Sergienko, CEO of Chrono.tech led the funding round. Other participants included Blockchain Assets and Shaw and Partners, the Australian investment managers.
About Crypto Gaming United
Established this year in August, Crypto Gaming United has become popular by enlisting more than 1,500 members, with 40,000 applicants on their waiting list. The company assists gamers in playing Axie Infinity, an NFT-based game. They offer scholarships in the form of sponsorships, which include pricey assets that a player can deploy to create revenue.
Most players in the game hail from developing economies like Indonesia, India and Latin America. Many of them may not have access to costly crypto assets required for Axie Infinity amidst a rising bull market. Crypto Gaming United offers a chance to earn scholarships, while taking a cut from the profits that the players generate.
Offering a Chance
According to the CEO of Chrono.tech Sergie Sergienko, Crypto Gaming United breaks the financial barrier that prevents lesser privileged players from getting admission to play. Now even regular players interested in NFT can earn an income through gaming.
Zebedee is another gaming platform that uses cryptocurrency (Bitcoin in this case) as in-game rewards and transactions. Crypto-based gaming has witnessed tremendous growth in 2021. Axie Infinity’s user base has crossed 1 million in a span of 5 months.