Thai NFT gaming infrastructure startup GuildFi raises $6m seed round

GuildFi co-founder Jarindr Thitadilaka.

Thailand-based GuildFi, a developer of Web3 infrastructure for games, non-fungible tokens (NFT) and communities, has raised a $6-million seed funding round co-led by DeFiance Capital and Hashed.

Web3 is a reference to the decentralised web run on the digital ledger of blockchain.

Investors participating in the investment also include Pantera Capital, Coinbase Ventures, Animoca Brands, Dapper Labs, Play Ventures, and others.

As a number of Web3 games are unveiled, players face high start-up costs for joining new play-to-earn games, and scholarship funds are fragmented, GuildFi said in a statement.

The company added the seed financing will help it develop many more features to enable players to navigate and dabble in these new games.

Founded just three months ago, GuildFi has launched a gaming guild, and gaming tools for Axie Infinity, the game by Vietnamese newest unicorn Sky Mavis.

GuildFi said it has attracted over 100,000 registered users, with 20,000 daily active users.

“We solve discovery and access challenges for players by helping them discover new games, enhance performance with gaming tools, and track their engagement. With GuildFi ID, one ID serves all players’ metaverse journeys,” said its co-founder Jarindr Thitadilaka.

Ethan Kyuntae Kim, co-founder and partner at Hashed, commented: “We foresee that the next-generation game platform will be underpinned by a combination of play-to-earn gaming model and interoperable in-game assets. Hashed strongly believes the new paradigm for the gaming industry will be decentralized platforms. The more authority games give to the players, the more successful the game will be.”

Southeast Asia has recently jumped on the bandwagon to create and fund NFT games.

Hashed has recently also joined a $6.8 million seed funding for Vietnam-based blockchain gaming studio Sipher. Prior to that, Sky Mavis raised $152 million from marquee investors such as Andreessen Horowitz (a16z) and Accel, reportedly to reach a $3 billion valuation.

In July, Singapore-based NFT marketplace Mintable bagged $13 million in Series A funding from both US and Asian investors.

Animoca Brands, a Hong Kong firm that has been active in developing and investing in blockchain in the region, landed a $65 million financing in October to boost NFT gaming, while SoftBank Vision Fund 2 recently put $93 million in Hong Kong-based gaming platform The Sandbox.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.