Merit Circle in 2025: The Evolution of a Web3 Gaming Powerhouse

• From Scholarships to Ecosystem: The Merit Circle Origin Story
• The Beam Pivot: When Merit Circle Became Something Bigger

From its humble beginnings as an Axie Infinity scholarship program to becoming a dominant force in Web3 gaming infrastructure, Merit Circle has undergone a remarkable transformation. Now operating as Beam with a fully migrated token ecosystem, this DAO has positioned itself at the forefront of blockchain gaming innovation. With strategic partnerships, an expanding game studio portfolio, and a treasury that's grown 135% since inception, Merit Circle's journey offers a fascinating case study in DAO evolution. This deep dive explores how a community-driven initiative became a gaming industry disruptor, the lessons learned along the way, and what the future holds as traditional and Web3 gaming continue to converge.

From Scholarships to Ecosystem: The Merit Circle Origin Story

Picture this: It's July 2021, and Marco van den Heuvel launches the Axie 420 Scholarship to help gamers in developing countries access play-to-earn opportunities. Fast forward three months, and this initiative evolves into Merit Circle DAO - a decentralized organization that WOULD eventually raise $105 million through its token sale. The original scholarship model proved revolutionary, funding over 250 players who couldn't afford the entry costs for Axie Infinity while creating a sustainable profit-sharing system.

What began as a solution to Axie's accessibility problem quickly expanded into a broader vision. By September 2021, Merit Circle had secured $4.5 million in seed funding from heavyweights like DeFiance Capital and Digital Currency Group. The DAO's structure - with a mainDAO overseeing various game-specific subDAOs - created a scalable framework for supporting multiple play-to-earn titles while maintaining decentralized governance.

The Beam Pivot: When Merit Circle Became Something Bigger

Here's where things get interesting. In late 2023, Merit Circle introduced Beam - a gaming ecosystem featuring Sphere marketplace and developer tools that would eventually eclipse the original DAO concept. As Beam gained traction with dozens of game studios onboard, the organization made the strategic decision to migrate from MC to BEAM tokens. As of 2025, 97.1% of tokens have completed this transition ahead of the October 2024 deadline.

The numbers tell the story: From an initial treasury of $105 million, Merit Circle (now Beam) has seen 135% growth across various market conditions. The organization has moved beyond relying on external agencies, building in-house capabilities to execute its ambitious roadmap. Current partnerships include gaming projects like Star Atlas, Vulcan Forged, and Illuvium - each representing different approaches to Web3 gaming integration.