Binance Labs, Coinbase Backed Web3 Gaming Guild GuildFi Rebrands to Zentry

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Tanzeel Akhtar

Journalist

Tanzeel Akhtar

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Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

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April 23, 2024 23:44 EDT

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Web3 gaming guild GuildFi which raised $140 million from Binance Labs, Coinbase Ventures, Animoca, Pantera Capital, Hashed and others, has been rebranded to Zentry.

In an announcement, Zentry said the rebranding was a strategic decision and as part of this revamp the firm will relaunch GuildFi. Zentry will introduce a new token conversion program where holders of the original GuildFi token $GF will be able to convert to the new Zentry token $ZENT.

Zentry said it will build a “Superlayer” to reunite three billion gamers in one economy, regardless of the platform used. Gamers will be unified. The Superlayer will combine loyalty systems, gamer identities, and cross-world activities from countless games and platforms into a single overlay experience. 

In addition to linking Web3 and Web2 games, social media and in real-life (IRL) activities will unify the community of gamers. This tech also creates a new game of games in itself, said the firm.

“We’re reshaping how gamers are recognized and rewarded by enabling how a player’s gaming activities benefit their real-world self, and their real-world actions to boost their digital self,” said Jarindr Thitadilaka, founder and CEO of Zentry, in a press release. 

Zentry All About Gamifying Daily Life

“Zentry aims to unite the silos in gaming, and also bridge the silos between our physical and virtual lives. It’s all about gamifying daily life, because most people’s ‘real’ life includes untold hours spent online,” explains Thitadilaka. “In this new Play Economy, you can buy a coffee from your barista and your Zentry character gets a perk, or vice versa.”

Web3 Gaming Growth 2024

In 2024, web3 gaming is growing rapidly with the space attracting more VC investment. In 2023, it is estimated that the blockchain gaming-related rounds reached $1.7 billion which is a significant part of that has flowed to the 270 blockchain games in development on Immutable.

Recently King River Capital, blockchain gaming firm Immutable and Polygon Labs announced they had teamed up to launch a $100 million gaming fund.

Web3 gaming platform Elixir Games raised $14 million in a seed funding round from Square Enix, the Solana Foundation and Shima Capital, and others. The funding will be used by Elixir Games to launch its native token “$ELIX” and its “Launchpad & Incubation Program” which go live later this year.

Web3 gaming firm Illuvium announced it had raised $12 million in a series A funding round with contributions from investors such as Australian venture capital firm King River Capital, Arrington Capital and Animoca Ventures.