Merit Circle has announced the successful closure of its $4.5 million seed round, attracting prominent venture capitalists and strategic partners including DeFiance Capital, Mechanism Capital, Spartan Group, Maven11, OP Crypto, Dialectic, CitizenX, Yield Guild Games, and Bitscale Capital. This decentralized autonomous organization (DAO) will bring together industry leaders to transform the play-to-earn (P2E) gaming model.
The Explosive Growth of P2E Gaming
A decade ago, the global gaming industry was valued at around $52.8 billion. Today, its total value—including software, hardware, content, and intellectual property—is estimated at $335.5 billion. With growth comes innovation, and blockchain technology has enabled a fairer business model: play-to-earn. Merit Circle originated from the success of its flagship game, Axie Infinity, which grew from a small operation in March 2018 to become the largest P2E game with over 2 million daily active users, eventually leading to the creation of the Merit Circle DAO.
Oversubscribed Seed Round with Carefully Selected Partners
The seed round was heavily oversubscribed, allowing Merit Circle to select only those who would contribute to long-term success based on four core principles: Experience — investors with a long-term vision and deep industry understanding; Industry Connections — partners enabling collaborative efforts such as game tournaments, real-world events, giveaways, airdrops, and early access to AAA games; Diversification — backers from Asia, Europe, Australia, and the United States to ensure a diverse and knowledgeable governance forum; Sustainable Long-Term Vision — as the P2E industry is still in its infancy, every investor is committed to helping it mature.
Expanding into Multiple Games and NFT Assets
Merit Circle plans to invest in games with potential similar to Axie Infinity. Many target games are still in development, giving the DAO time to conduct thorough research, identify the right players, and acquire substantial NFT assets to enter these metaverses effectively. The organization has already forged strong partnerships with Star Atlas, Illuvium, Hash Rush, and NyanHeroes to collaboratively build a sustainable P2E future.
Roadmap: Governance Forum and Token Launch
The team stated that the governance forum will be established in the coming weeks, bringing them closer to launching their native token. Additionally, details about a public investment round will be released soon. Merit Circle aims to enable global scholars and team members to participate in decision-making through decentralized governance, creating a truly community-driven P2E ecosystem. Stay updated via Twitter, Discord, Telegram, and the official website.