Merit Circle has released its ecosystem treasury report for the first quarter of 2024, highlighting a significant growth of over USD $94 million in comparison to the previous quarter. This development underscores the robust financial health of the Treasury and its strategic investments in the gaming industry.
Since its inception, Merit Circle has committed to fostering innovation and growth within the gaming community by investing in a variety of projects that push the boundaries of what is possible in the gaming world. To date, the Treasury has invested in over 60 diverse projects, several of which have shown exceptional performance and promise.
Merit Circle distinguishes itself by emphasizing transparency, a commitment evident through its consistent publication of Treasury reports since Merit Circle’s inception in 2021. This practice, not common in the industry, showcases Merit Circle’s dedication to openness and trust, offering a clear view of its financial activities and strategic decisions.
Q1 2024 Highlights
Among some of the best performing investments, you can find Saga, which recently emerged as the largest Binance Launchpool project to date. Merit Circle’s early involvement at a $125 million valuation has proven to be fruitful, as Saga’s fully diluted valuation (FDV) has now surpassed $5 billion, marking a significant milestone in the organization’s investment journey.
Merit Circle is not only investing, but also engaged in actively co-creating new titles themselves, such as Forgotten Playland. This online party game is scheduled for release on April 25 2024, and has released their $FP token beforehand. As a result of its performance, the Treasury held nearly $30 million worth of tokens as of the end of Q1 2024. Forgotten Playland represents Merit Circle’s commitment to not only investing in but also creating cutting-edge gaming experiences.
For a detailed breakdown of the Treasury and any disclaimers in that regard, you can view the Q1 2024 Treasury report and Treasury dashboard.
About Merit Circle
Merit Circle is on a mission to redefine the gaming landscape by seamlessly integrating blockchain technology into games, catalyzing a paradigm shift that shapes the future of the industry. The main component to achieve this mission is its gaming ecosystem Beam, a network that spreads across its own Subnet on Avalanche onto networks like Immutable, Polygon and many more.