Avocado Guild raises $18 million to expand P2E gaming


TL;DR Breakdown

  • Play-to-earn (P2E) blockchain gaming Guild got $18 million in a series of fundings.
  • Animoca Brands and QCP Soteria Node led the funding among other partners.

Play-to-earn (P2E) blockchain gaming Avocado Guild (AG) marshaled $18 million in a series of fundings led by Animoca brands. The firm reported that it got the capital from essential investors. Distinguished names include Animoca Brands. Other names included Goldentree Asset Management, Three Arrows Capital, and Solana Ventures. The funds came from Guild’s series A capitalization. Serie A handed Avocado Guild a total valuation of about $200 million. Also, QCP Soteria Node played a significant part in driving the initiative.

The firm is leveraging on different thriving game titles. Their main push is assisting users. Blockchain gaming will be a great success in 2021. As a result, most software builders with a bias to developing games are embracing its technology.

Avocado Guild rewards its blockchain gamers

As per Avocado Guild’s website, Each online player wants to be successful. They push to win and to manage a successful life. Thus, AG brings terrific opportunities to them. Also, it pays for skills for its different social actors.

P2E online games have scored much. Most people cant go silent on it. Pundits see it as a destiny of online games. But, a few people think it is passing clout. Ubisoft is warming up to venture into blockchain gaming as per their latest revenue news. Besides, Microsoft’s gaming deputy leader earlier discussed NFT gaming. Elsewhere, renowned game master Square Enix is also thinking of entry. Yet, Morgan Stanley feels that currently, the best investment is in Metaverse.

Avocado Guild is famous for giving support to P2E enthusiasts. The money received from the funding intends to expand their base to more P2E games. Again, some monies will buy NFTs and virtual assets.

The AG has almost 7000 members under its scholarship. Most of the beneficiary originates from South Asia. Reports hint that beneficiaries may rise to 10,000, and some of the raised money will come in handy.

Funding series intensifies the growth of blockchain gaming

The funding series are essential to the metaverse industry. Currently, Axie Infinity is the most popular game in the Southern part of Asia. Recently, it raised $152 million on a Series B funds drive.

Besides, GuildFi, a web 3.0 infrastructure developer of P2E games, received seed funding. Hashed and DeFiance Capital led the $6 million funding. Also, Animoca Brands generated a $65 million investment at a pre-money valuation of $2.2 billion.

Globally, there is a projection that P2E will raise $175.8 billion in 2021, Animoca Brands stated. And to get involved, Animoca is backing more than 100 NFT projects.

Recently, Animoca Brands suffered an attack from hackers. The hackers targeted the Phantom Galaxies Discord Server and made away with 265 ETH. But the company has assured the victims that they will compensate them for their losses. Yet, the incident didn’t deter the firm from leading a Series A Funding.

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Edith Muthoni

Edith is an investment writer, trader, and personal finance coach specializing in investments advice around the fintech niche. Her fields of expertise include stocks, cryptocurrencies, blockchain, and cryptocurrency investments.

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