Avocado Guild entered the metaverse in July 2021 with the goal of being the premier play-to-earn (P2E) supplier in the NFT gaming world and providing life-changing chances to millions of people. They are now a lot closer to realizing their ambition.
They also revealed on December 3rd that they had just completed an18 million USD Series A private financing round, giving Avocado Guild a post-money worth of US$218 million. The investment round was led by a group of well-known investors, including Animoca Brands and QCP Soteria Node (QSN). Avocado Guild was an early supporter of P2E in settings such as Axie Infinity and REVV Racing. Avocado Guild’s aim is to advance and integrate players, particularly from non-crypto populations, to enter the era of gaming that Web3 and the metaverse are ushering in.
What is P2E, and why is it valuable?
If you’re unfamiliar with P2E, it’s a sort of online game in which participants can earn bitcoin, which can subsequently be turned into fiat currency. Avocado Guild works by providing the NFT assets required for entrance into P2E games. Scholars are gamers who acquire these NFT assets from guilds. Scholars can avoid large upfront fees by using this lending arrangement, and they are compensated based on a shared revenue model.
There already is a wide variety of P2E games in the world. Avocado Guild has partnered with Cyball, Elpis Battle, Axie Infinity, Sipher, Thetan Arena, Revv Racing, and Big Time Games to give P2E chances in these games.
P2E has grown in popularity in emerging areas such as the Philippines, where gamers can make a significant supplement to their take-home pay. During the epidemic, when family incomes were impacted, organizations like Avocado Guild provided a lifesaver to many.
Consider, for instance, Ralph. As a single parent supporting two daughters in the Philippines, he was able to supplement his daily pay significantly by gaming P2E titles on Avocado Guild. Taki, an Avocado Guild member, got himself a new place with the revenue he was capable of making. Taki is now pushing other villagers to enter the Avocado Guild and then become companion “Avocadians.” Improving the quality of life of around 8,000+ community members is essential to what Avocado Guild does, and their website contains numerous amazing examples of Avocadians using their profits for purchases and to provide for dear ones.
But P2E is about much more than revenue. P2E offers a place for communities of like-minded people to socialize and perform as “guilds.”
P2E also assists participants in developing a fundamental yet critical grasp of blockchain and cryptocurrencies, allowing them to effectively traverse decentralized finance (DeFi) and the metaverse. Avocado Guild’s revenue generated in the series A investment round would be used to assist the expansion of the P2E ecosystem and improve the quality of life of the scholars. Avocado Guild wants to use the funds, in specific, to achieve the following:
- Invest in more P2E initiatives to provide their community with more income options.
- Develop solutions to aid with guild administration and be prepared to scale.
- Contribute to the Avocado Guild becoming a decentralized autonomous organization (DAO), which means that Avocado Guild would be controlled by its group of scholars and token owners, who’d have influence over its future position and direction in the metaverse.
- Increase their visibility in the renowned P2E game Axie Infinity while spending on NFTs for other titles.
Now, the metaverse gaming company has devoted itself to giving offline assistance to its members by supporting new schools and providing disaster relief assistance to its members’ areas.