Crypto Gaming United (CGU) is a project that capitalises on the surge in popularity of play-to-earn blockchain games. Recently funded to the tune of $5 million in an oversubscribed seed round, led by celebrated Australian venture capitalist Mark Carnegie, the aim of CGU is to enable players around the world to earn more from games like Axie Infinity by providing Scholarships.
While the hugely popular Axie Infinity is free to play, the cost of buying Axies – fierce but lovable digital creatures – prevents many low-income players from taking part. CGU offers ‘Axie scholarships’ by matching prospective players with Axie owners, lending out these digital assets in return for a share in daily revenues.
‘The coronavirus pandemic accelerated the changes in the digital economy we were already seeing, and it’s now clear that gaming will not only be a huge new use case for blockchain – it will be the means by which an increasing number of people actually earn their livelihoods,’ explained Sergei Sergienko. ‘The aim of CGU is to lower the barrier for play-to-earn games like Axie Infinity, allowing anyone with an internet connection to benefit from this new sector and generate significant income.’
Axie Infinity’s user base has grown to more than a million players, while CGU boasts 40,000 members – with the aim of growing that to 100,000 by the end of 2022.
As both the founder of Chrono.tech and co-founder of CGU, Sergienko has committed to integrating both initiatives to help build network effect and leverage both user bases.
LaborX forms a key part of this strategy. Gamers can apply for Axie scholarships by posting an Axie Player Application on the freelance work platform, advertising their services to holders of Axies who want to monetise these valuable NFTs. The first step for prospective players is to visit the Axie Dashboard on LaborX,where users can connect their LaborX account with a manager’s account for real-time information about their accumulated earnings, payout dates and more. The next step will be to implement individual and recurring job contracts for scholarships.
Meanwhile, Smooth Love Potions (SLP) tokens, the native currency of Axie Infinity, has been listed on TimeX – giving gamers a way to sell their earnings, and traders a way to benefit from the rising popularity of the game.
CGU will soon be integrated into the TimeWarp programme, which offers TIME holders a way to generate revenues by staking their TIME tokens.
‘We’re very excited about this new sector and the opportunities it offers,’ continues Sergienko, ‘both to gamers seeking to earn an income, and to the users of our existing services, who are set to benefit from new liquidity, sources of revenues, and potential users. It’s the perfect match.’