Blockchainspace Raises $2.4m Extra In Strategic Funding Round for Their Play to Earn Model

SINGAPORE, Date — BlockchainSpace, a guild hub for play-to-earn (P2E) communities, announced a $2.4 million strategic funding round today. Coming hot off the heels of the previous seed round announcement, the funds will be used to position BlockchainSpace to take on the next 20,000 play-to-earn guilds worldwide and accelerate growth in the rapidly expanding NFT gaming industry. 

Morningstar Ventures led the round, with participation from Crypto.com, Alameda Research (FTX), Kingsway Capital, OKEx Ventures as well as play-to-earn guild UniX Gaming. 

BlockchainSpace is a metaverse platform building tools that empower play-to-earn gaming communities to increase their performance, access capital, grow their earnings and live up to their full potential. They currently serve over 2,500+ guilds with more than 600K P2E players. 

NFT-based P2E gaming is booming, with games such as Axie Infinity, CryptoBlades and The Sandbox blossoming into full-fledged economies that enable thousands of gamers to earn a living. But the barrier to entry is high, with the most popular games requiring investments of over a hundred dollars just to get started. Guilds enable new gamers - known as scholars - to access P2E games without any upfront investment in return for sharing a percentage of the profits they earn. 

Some of the biggest guilds of the P2E metaverse have grown to thousands of scholars, but with scale comes growing complexity. 

Guild operators are likened to the asset managers of the metaverse. As their organization grows, their day-to-day operations become extremely intricate, with the need to keep track of assets, cashflow, revenue and expenditure, maintain multiple budgets and all the while monitor the performance of scholars. In other words, it is just like running a regular business in every sense. 

BlockchainSpace makes it easier for those in the guild business to scale their operations. It provides a comprehensive platform and community for guild operators to accurately measure the performance of their players, onboard new scholars and vet applicants, automate cashout requests and gain access to in-depth analytics and benchmarking across multiple guilds. Its unique tools and features saves guild operators time and allows them to focus on scaling and improving performance. 

“Guild leaders face challenges with operating their groups, and lack tools, data, and solutions that facilitate their work as their guilds grow and become more complex. At Morningstar Ventures we very much focus on all-things-community, and we are excited to work with BlockchainSpace to empower countless guild-managers to run guilds like a startup business, and remove their bottlenecks.” says Danilo S. Carlucci, Chief Investment Officer at Morningstar Ventures.

“Over the last months investor interest in Metaverse companies has been high. We were careful in this strategic round to only focus on partners that could strengthen our growth in community building and community onboarding and are ecstatic with our small but impactful line-up with MorningStar leading the round” says Peter Ing, CEO of BlockchainSpace 

About BlockchainSpace

BlockchainSpace enables play-to-earn guilds to scale in the metaverse. BlockchainSpace builds tools to empower gaming communities and runs academies to identify economic opportunities in games. BlockchainSpace’s aim is to embolden the next generation of play-to-earn gamers and guild owners to become successful entrepreneurs by equipping them with essential digital tools and financing.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.