Merit Circle’s Ecosystem Treasury Grew By $94m in Q1 2024: Report

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Merit Circle has published its quarterly ecosystem treasury report, revealing that its treasury grew by $94 million in Q1 2024 thanks to its investments in projects such as Saga.

Merit Circle has published its quarterly ecosystem treasury report for the year's first quarter, revealing some interesting developments. 

According to the press release shared with Cryptowisser, Merit Circle revealed that its ecosystem treasury increased by $94 million compared to the previous quarter. The team highlighted that this latest development is a sign of the robust financial health of the Treasury and its strategic investments in the gaming industry.

Merit Circle continues to invest in various gaming projects as it seeks to 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.

The company’s quarterly ecosystem report indicates its emphasis on transparency, showcasing Merit Circle's dedication to openness and trust, offering a clear view of its financial activities and strategic decisions.

Q1 2024 Figures

Merit Circle revealed that some of its best-performing investments in the previous quarter include Saga, which recently emerged as the largest Binance Launchpool project to date. 

The company invested in Saga when it was still valued at $125 million but the gaming project has grown to surpass $5 billion in fully diluted valuation (FDV). 

Merit Circle is involved in the Web3 ecosystem beyond investing. The company engaged in actively co-creating new titles such as Forgotten Playland. This online party game is scheduled for release on April 25 2024 and has released their $FP token beforehand. Thanks to its involvement, the Merit Circle Treasury held nearly $30 million worth of tokens as of the end of Q1 2024. 

Merit Circle seeks 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.

 

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Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.