In Indonesia And The Philippines, The Gaming DAO Has A Guild Of Over 40,000 Players And 3,000 Academics
Play It Forward DAO (PIF DAO) began 2022 by reporting that it has raised $6 million from private investors less than six months after opening.
The DAO is comprised of a guild of over 40,000 players and 3,000 students located around the Philippines and Indonesia, all of whom are controlled using a play-to-earn (P2E) scholar management scheme.
The DAO now has participants across a variety of famous Metaverse P2E games, including Axie Infinity, Thetan Arena, Pegaxy, and Dragonary.
According to Cointelegraph’s co-founder Cholo Maputol, the cash will be used to expand the DAO’s scholarship programmes, expand its peer-to-peer board platform, and support certain early-stage investments in peer-to-peer gaming and infrastructure projects.
“PIF DAO’s purpose is not to maximise its share of the pie, but to expand the pie and improve player benefits.”
The DAO noted in a Jan. 2 release that the financing round is the next step of its mission to “create a platform that will turn Play-to-Earn into a Plug-and-Play experience for more guilds and players worldwide.”
Maputol said to Cointelegraph that many gamers are unable to participate in P2E gaming because it needs a high level of technical expertise to get started, such as setting up a wallet and buying tokens.
“We aim to create an ecosystem that abstracts away all of that, allowing any manager or player to get right into play-to-earn (plug-and-play).” Signum Capital, which has previously invested in other famous businesses such as Polkadot and Ren, joined the party as a major investor.
Additionally, Kyber Ventures, UOB Venture Management, Jump Capital, GBV, LD Capital, Great South Gate, Octava, 975 Capital, Arcane Group, Tokocrypto, AU21, Double Peak Group, Faculty Group, NxGen, DWeb3 Capital, GSR, SL2 Capital, and Mintable joined the partnership.
Loi Luu, creator of Kyber, remarked that they “invested confidence in PIF due to their unique guild gaming structure, which has the potential to contribute value to the Play-to-Earn economy as a whole,” before adding:
“We think that the P2E movement will continue to grow in strength, bringing tens of millions of new users into the Metaverse.” Prior to December 2021, PIF DAO was known as Railings University.
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