Crypto Gaming United Raises US$5m in an Oversubscribed Seed Round

SINGAPORE, 9 September, 2021 – Crypto Gaming United, an important Gamers Coalition in the nascent ‘Play to earn’ market, announced today that, it has raised US$5 million in an oversubscribed seed round.

Led by venture capitalist Mark Carnegie and leading global blockchain expert Sergei Sergienko and supported by Shaw and Partners and crypto investor Ian Love’s Blockchain Assets Pty Ltd, the capital raising received an overwhelming response from investors.

Established in August 2021 by Mark Carnegie and Sergei Sergienko, Crypto Gaming United is a Singapore-headquartered gaming guild with an aim to build a global community of play-to-earn gamers who paly NFT-based online video games (such as Axie Infinity) to earn in-game rewards.

Mark Carnegie said: “When Sergei approached me several years ago to invest in a workforce management entity for crypto careers, I did not believe in him. However, today I realise he wasn’t wrong at all, he was just too early.”

“The last few months have shown me that he has an unerring eye for how the crypto careers market was going to develop. All of us are fortunate to benefit from the infrastructure he has put in place that we can instantly pivot to build ‘Play to earn’ teams and leagues.”

In relation to Crypto Gaming United being headquartered in Singapore, Mr Carnegie stated: “I must emphasise that both Australia where I was born and New Zealand where I am now a resident are making a huge error by dragging their feet with establishing an effective crypto regulatory framework.

“Both countries are still undergoing consultations on listing a BTC ETF when all the innovation is happening in DAO and NFT space. It makes you realise why the crypto community has to (and is) be more skewed towards the more forward-looking jurisdictions around the world such as Singapore and Dubai.”

"The backing of Australian RMBS was a testament to Singaporean sovereign wealth fund's visionary leadership. With the NFT market being ripe for disruption we see great opportunity for a sovereign fund to be the first in this rapidly expanding field of finance."

He further added: “Much as it dumbfounds me as a 59-year-old, online gaming is a US$200 billion per year revenue industry globally and, by my rough calculation, there is imbedded value in the system of between US$1.5 and $2 trillion. The investment thesis for all of these entities is that a material part of that revenue and value is about to move into the crypto space.”

“This significant seed round demonstrates confidence in our team and vision. Both my partners in this project, Sergei Sergienko and Raman Nambiar, have direct experience in recruiting, screening and training workers at scale globally, including in developing countries.”

A majority of Crypto Gaming United’s players are based in the Philippines, with further onboarding happening in countries such as Russia, Ukraine, Kazakhstan, Zambia, Myanmar, South Africa, Indonesia, Sri Lanka, Bangladesh, Lebanon, Fiji and Papua New Guinea.

It is able to combine financial literacy and digital upskilling to help these players learn more about global digital economy engagement while playing the game.

Seasoned crypto investor and NFT visionary, Sergei Sergienko, strongly believes that play-to-earn games can reduce the wealth inequality in developing countries.

“Most of our players are skilled workers from economies with high unemployment rates, that were further hit hard by the COVID-19 pandemic.”

“Youth unemployment is a disease as destructive to young people as any that comes wrapped as a virus or bacteria. My whole career has been dedicated to getting people work ready in all types of industries. This is just the newest one.” he elucidated.

Crypto Gaming United has already onboarded over 1500 players, with nearly 40,000 more waiting to join.

“Our ambition is to secure 100,000 players in the next 18 months which we believe is fully achievable given current gamer onboarding trends and industry growth,” he added.

“The opportunity for wealth creation in the NFT space is no longer limited to those with the means, such as sports celebrities. At Crypto Gaming United, we are overcoming the cost barrier required for admission to play, thereby allowing players to generate income through their gaming exploits.”

“It is an attractive combination of huge financial upside and tangible social benefit for end users. It clearly shows a user case of crypto assets.” according to Mr Sergienko.

ENDS

About Crypto Gaming United

Crypto Gaming United is an industry leading Non-Fungible Token (NFT) gaming company designed to capture significant share of the nascent ‘Play to earn’ market with enormous growth potential. By providing an innovative and comprehensive solution to gaming access for more players, Crypto Gaming United is able to provide income, education and value opportunities for thousands of skilled workers in developing countries. It is headquartered in Singapore and Dubai.

Follow for more updates:

Mark Carnegie: @iammarkcarnegie

Sergei Sergienko: @svsergienko

Crypto Gaming United: @cryptogamingu

For media enquiries, please contact:

Rashmi Punjabi

Honner

rashmi@honner.com

0466 658 475

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