Chapter 509: The Guild’s Greatest Treasure

Fourteen days after Greyfen opened to the public, Sage Alistair sat inside the Royal Capital Headquarters, staring at a collection of financial reports that had left him in an exceptionally good mood.

The documents covered nearly half his desk, detailing everything from Dungeon Pass sales and commercial leases to membership registrations, expedition missions, and the growing trade in monster materials.

Each report represented a different aspect of Greyfen’s development, but together they revealed something considerably more interesting than a successful dungeon opening.

The Adventurer Guild was beginning to create an economy of its own.

"You’re smiling at financial documents again," Boren remarked from the opposite side of the desk, where he had been reviewing construction estimates for Greyfen’s proposed permanent facilities. "I’m beginning to suspect that gold coins bring you more happiness than actual people."

Sage looked up with an offended expression. "That’s a terrible accusation, Boren. People are extremely important to me, particularly when they purchase Dungeon Passes, register missions, or rent commercial property."

Boren stared at him for several seconds before shaking his head. "Somehow, that response made your situation worse."

Sage chuckled and returned his attention to the reports. Greyfen’s first fourteen days had exceeded his initial expectations, although the results were not without complications.

The dungeon had attracted experienced Warriors, ambitious mercenary companies, independent Adventurers, merchants, craftsmen, and researchers.

Several expeditions had already returned with valuable discoveries, while others had learned painful lessons about the dangers concealed beneath the earth.

More importantly, the Guild had survived its first serious operational challenges without allowing everything to collapse into disorder.

And that, Sage believed, was worth considerably more than a handful of successful transactions.

---

Irene arrived shortly afterward, carrying the latest financial summary from the Headquarters Finance Department.

As its department head, she had insisted that Greyfen’s income and expenses be recorded separately from the Guild’s existing operations, allowing her to determine whether the new undertaking was genuinely profitable.

"Guildmaster, I’ve completed the preliminary assessment," Irene announced, placing the documents before him. "Dungeon Pass sales remain our largest direct source of income from Greyfen. Commercial permits and temporary leases are beginning to contribute, although construction and operating expenses have increased considerably."

Sage examined the figures with interest. "And the overall position?"

"Positive, but don’t become excessively pleased with yourself," Irene replied, maintaining her usual businesslike expression. "We’ve collected substantial revenue, but permanent facilities, security, transportation, medical services, and additional personnel will require continued investment."

Boren leaned forward. "How substantial?"

Irene glanced toward him. "Substantial enough that the Guild can finance the next stage of development without immediately depending on outside investors. That doesn’t mean we should spend everything simply because it’s available."

Sage smiled approvingly. "Excellent. I was beginning to worry that you’d eventually run out of reasons to discourage unnecessary spending."

Irene gave him a flat look. "Considering your enthusiasm for constructing enormous facilities, Guildmaster, I doubt that will happen during my lifetime."

Boren laughed, earning a mildly irritated glance from Sage.

The figures were encouraging, but Sage understood Irene’s concerns. Greyfen’s commercial activity was still developing, and the Guild needed sufficient reserves to handle emergencies, unexpected repairs, and periods when exploration slowed.

An institution that spent every gold coin it earned would eventually discover that enthusiasm was a poor substitute for financial discipline.

---

The next report concerned membership.

Garran Holt, Head of Mission Administration, entered the office accompanied by a clerk carrying several registration summaries. Although membership registration belonged to the Guild’s administrative services, Garran had been reviewing the relationship between new Adventurer registrations and the growing demand for missions.

"Guildmaster, we’ve seen a noticeable increase in applications since Greyfen opened," Garran explained. "Some applicants are experienced mercenaries who previously saw little reason to join. Others are independent Warriors interested in the Guild’s mission opportunities and access to reliable dungeon information."

Sage examined the figures. "And are they actually accepting missions, or merely registering because they’ve heard rumors about Greyfen’s treasures?"

"Both," Garran admitted. "However, several companies have already begun taking reconnaissance assignments. The information-gathering missions established after Rowan and Iris’s training sessions are attracting particular interest."

Boren considered the report. "That makes sense. Not everyone can afford to spend one hundred gold coins entering an S-Rank Dungeon simply to wander around looking for trouble."

"Precisely," Garran replied. "Some Adventurers would rather earn rewards by investigating known areas, verifying reports, or collecting specific materials. They’re beginning to understand that exploration doesn’t always require reaching a new floor."

Sage nodded thoughtfully. "Then we should continue expanding those opportunities. Greyfen needs scouts, researchers, monster hunters, escorts, and reliable suppliers. If every Adventurer believes the only worthwhile achievement is descending farther than everyone else, we’ll spend half our time organizing funerals."

Garran agreed without hesitation. "I’ve already instructed Mission Administration to prioritize assignments with clearly defined objectives and verified danger assessments."

That pleased Sage considerably.

The Guild’s mission system was beginning to connect different kinds of Adventurers to the opportunities most suited to their abilities.

---

Later that afternoon, Lucien Marrow arrived from the Grand Library with an updated catalogue of Greyfen’s exploration records.

Unlike the financial reports, Lucien’s documents contained maps, monster descriptions, resource locations, and carefully classified accounts of unusual magical phenomena.

"We’ve made considerable progress," Lucien explained as he arranged several maps across Sage’s desk. "The early floors now have reasonably reliable route records, although numerous passages remain unexplored. More importantly, we’re beginning to distinguish confirmed findings from speculation."

Sage examined a map showing several interconnected caverns. "And the thirteenth floor?"

"Still classified as an extreme-risk region," Lucien answered. "Captain Roland Ashcombe’s encounter with the crystalline stag remains our most significant warning from that area. His company provided useful descriptions, but we haven’t received enough evidence to establish the creature’s exact classification."

Roland, a 5-Star Master Knight and captain of the Blackthorn Vanguard, had been forced to retreat after encountering the monster. His company’s defeat had considerably reduced the enthusiasm of those hoping to establish new exploration records through sheer strength.

Boren studied the map with a troubled expression. "It’s remarkable how little we’ve actually explored when you consider how much activity Greyfen has generated."

Lucien nodded. "And that is precisely why these records matter. Each successful expedition contributes information that later expeditions can use. Without proper archives, every company would repeatedly encounter dangers that someone else had already discovered."

Sage smiled. "Which would be a remarkably expensive way to learn the same lesson."

Lucien adjusted his spectacles. "The Grand Library will continue organizing the reports, but we’ll eventually require dedicated personnel to maintain Greyfen’s records locally."

"Include that recommendation in the development proposal," Sage instructed. "A permanent dungeon outpost should have its own records office, with copies regularly transferred to Headquarters."

---

By evening, Sage had gathered Boren, Irene, Garran, and Garen Holtweiss around a large table to discuss Greyfen’s next stage of development.

Garen had brought commercial reports detailing the growing demand for storage facilities, equipment repairs, potion supplies, and accommodation.

"Several merchants are already requesting longer leases," Garen explained, indicating the proposed trading district on the map. "They’re willing to invest in proper buildings, provided the Guild establishes clear regulations and guarantees reasonable access to the marketplace."

Irene immediately raised a finger. "Any long-term agreement must include payment schedules, maintenance responsibilities, and conditions for termination. I don’t want merchants occupying valuable land for years while arguing that their original agreement was merely a friendly understanding."

Garen smiled diplomatically. "Naturally. I wouldn’t dream of suggesting otherwise."

Boren examined the proposed construction sites. "We should also consider the workers. Permanent warehouses, roads, and accommodation won’t appear overnight. We’ll need materials, craftsmen, transport arrangements, and somewhere for the construction crews to stay."

Sage listened carefully before responding. "Then we build in stages. First, permanent administrative and medical facilities, secure storage, and properly maintained roads. After that, we can expand the commercial district and accommodation according to demand."

Garen nodded approvingly. "That should encourage merchants without forcing the Guild to finance every building itself."

"Exactly," Sage replied. "If someone wants to establish a reputable inn or equipment shop, I’m perfectly happy to let them invest their own money. The Guild doesn’t need to own every business to benefit from the settlement’s growth."

Boren grinned. "There he goes again. Finding ways to earn money without personally paying for everything."

Sage spread his hands innocently. "I prefer to call it encouraging private enterprise."

---

After the meeting concluded, Sage remained alone inside his office.

The documents scattered across his desk represented two weeks of remarkable progress. Greyfen had generated substantial revenue, attracted new Adventurers, encouraged trade, and created opportunities that hadn’t existed before its discovery.

Yet the more Sage examined the reports, the clearer something became.

The dungeon itself wasn’t responsible for all those achievements.

Greyfen contained valuable resources, certainly, but those resources would have remained inaccessible to most Warriors without an organized structure supporting exploration.

Someone had to maintain registration records, issue Dungeon Passes, verify discoveries, coordinate missions, provide medical assistance, preserve information, and establish a marketplace where Adventurers could sell what they recovered.

And someone had to ensure that those services continued functioning even when Sage wasn’t personally present.

That realization brought a faint smile to his face.

When he first established the Adventurer Guild, he’d been forced to handle countless responsibilities himself. Every decision, every problem, and every unexpected complication had eventually found its way onto his desk.

Now things were changing.

Irene managed the Guild’s finances. Garran supervised Mission Administration. Lucien organized its growing archives, while Tobias coordinated logistics and Cassian oversaw security. Boren continued helping with practical operations, and merchants like Garen were beginning to invest in the opportunities the Guild created.

None of them needed to know about Sage’s hidden System.

They simply needed a functioning organization, clear responsibilities, and enough trust in its leadership to perform their work.

Sage leaned back in his chair, considering the difference.

Greyfen might require decades, perhaps even generations, to explore completely. Its deepest floors remained beyond the capabilities of the kingdom’s present Warriors, and no amount of enthusiasm would change that reality.

But the Adventurer Guild didn’t need to conquer Greyfen tomorrow.

It needed to survive long enough for future Adventurers to continue what their predecessors had begun.

A reliable map created today might save someone twenty years later. A monster record preserved in the Grand Library might help an expedition that hadn’t even been formed yet. And a properly established Guild outpost could support thousands of Adventurers long after its original builders were gone.

Sage looked toward the Royal Capital through his office window, where the lights of the enormous Headquarters illuminated the evening.

For the first time, he understood that claiming Greyfen wasn’t his greatest achievement.

Building an institution capable of supporting its exploration was.

And unlike the treasures hidden beneath Greyfen, that achievement could continue growing without anyone ever reaching the dungeon’s final floor.