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.