Strategic investors Solana Ventures chip in to Avocado Guild alongside other groups such as Binance Smart Chain, Goldentree Asset Management, Polygon Studios & Three Arrows Capital, providing an $18 million cash injection in total.
According to an announcement from Avocado Guild, a play-to-earn (P2E) blockchain gaming guild, the organization raised $18 million from strategic investors on Wednesday. The capital raise stemmed from the firm’s Series A funding round which gave Avocado Guild an overall valuation of around $200 million.
Thank you to our investors, and most importantly our fellow Avocadians.
— Avocado Guild ? (@Avocadoguild) November 24, 2021
Avocado Guild is essentially a P2E blockchain gaming guild that leverages various successful game titles in order to support the gamers. Blockchain gaming has been a big deal this year and according to a recent study, a majority of software engineers dedicated to the realm of games are beginning to incorporate blockchain technology.
“At the heart of every NFT player is the desire to succeed and lead a better life,” the Avocado Guild website details. “Avocado Guild (AG) is a play-to-earn guild that aims to unlock life-changing opportunities and rewarding experiences for its community members.” According to the organization, the Series A financing was led by Animoca Brands and QCP Soteria Node.
In addition to QCP Soteria Node and Animoca Brands, Binance Smart Chain, Goldentree Asset Management, Polygon Studios, Three Arrows Capital, and Solana Ventures participated in the financing round. According to Avocado Guild, the organization aims to expand to different P2E blockchain games and also become a decentralized autonomous organization (DAO) called Avocadodao.
Play-to-earn blockchain gaming has been a hot subject this year and many believe it is the future of online and multiplayer gaming, while many others disagree with that vision. Ubisoft mentioned blockchain gaming in a recent earnings report and the executive vice president of gaming at Microsoft recently addressed NFT gaming. Game giant Square Enix has been contemplating entering the blockchain gaming industry and Morgan Stanley believes the metaverse is the next big investment theme.
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