Avocado Guild, a chain game association, raised $18 million, led by Animoca Brands and QSN
Up to now, the P2E Association has recorded the highest amount of private equity financing in Series A, and its valuation has also jumped to 200 million US dollars.
Recently, the P2E (play-to-earn) chain game association Avocado Guild announced that it has completed its Series A financing, raising a total of 18 million US dollars, which is the highest record for the P2E Association's Series A private equity financing amount so far, and its valuation has also jumped to 200 million US dollars. According to reports, the financing was co-led by the well-known chain game development and investment team Animoca Brands and QCP Soteria Node (QSN). The participants include: Three Arrows Capital (Three Arrows Capital), Hashed, Solana, Polygon, Binance Smart Chain $1 billion growth fund, Algorand, PNYX Ventures, MEXC Global, LD Capital, Kenetic, and GoldenTree Asset Management management, etc.
As a P2E gaming association, Avocado Guild invests in NFT assets to provide community players to participate in various types of chain games. The P2E Revolution (Play-to-Earn Revolution), which it advocates, involves three different dimensions, from individuals to communities to the entire field of cryptography: #Play2Empower Scholars (empowering new players while playing), #Play2Enrich Community (enriching the community while playing), and #Play2Educate Cryptoliteracy (learning cryptocurrencies while playing).
According to reports, the Avocado Guild plans to provide scholarships (scholarship programmes) for over 12,000 community members at the end of 2021, and is committed to covering players from all over Southeast Asia. Currently, the scholarship program has over 7,000 members, mostly from Indonesia and the Philippines. Project participants can choose to share the proceeds with the Guild to learn how to participate in games such as Axie Infinity and receive NFTs provided by the Guild to launch the game. With this, the Avocado Guild hopes to open a window for disadvantaged community members to have new revenue streams.
It is worth mentioning that in addition to enabling more players to support themselves and improve their lives through the P2E mechanism, Avocado Guild regards popularizing cryptocurrency knowledge and having correct and good crypto community values as an important goal for the growth of its community. As a digital native community, Avocado Guild encourages community members to have sufficient confidence in discussing and using digital assets step by step by step by learning and earning money, while improving their quality of life.
In the future, Avocado Guild will focus on improving community education, involving DeFi education, mentoring programs, and a series of off-chain activities.
Brendan Wong, co-founder and CEO of Avocado Guild, said, “Our vision is to be a leader in P2E and blockchain empowering every opportunity in the current metaverse revolution. We're proud of our ability to borrow through P2E mechanisms and NFTs to help our community members improve their lives. At a time of economic decline due to the COVID-19 pandemic, liquidity mining and metaverse content creation have provided new revenue streams for many people. Our guild will continue to grow and participate in future cornerstone games, and our scholarship program will expand from P2e to DeFi projects, further enriching the lives of community members.”
Yat Siu, co-founder and executive chairman of Animoca Brands, said, “The Avocado Guild team was one of the earliest supporters of P2E games and has been involved in projects such as Axie Infinity and REVV Racing for a long time. We're excited to support the Avocado Guild project's vision to help it grow and attract more players, especially those who don't know anything about cryptocurrencies, to participate in the future of games driven by Web3 and the metaverse.”
According to reports, the Avocado Guild raised funds in this round will be used to expand the project's technology solutions, migrate AvocadaDAO, and plan to build a global team and channel to further expand its scholarship program for new players, while improving the utility of the token and promoting it globally.
