A play-to-earn (P2E) blockchain gaming guild has raised $18 million in a Series A financing round according to an announcement on Wednesday. Avocado Guild explained that the company has raised funds from investors such as Animoca Brands, Goldentree Asset Management, Three Arrows Capital and Solana Ventures.
P2E Organization Avocado Guild Raises $18 Million From Strategic Investors
According to an announcement from Avocado Guild on Wednesday, the organization raised $18 million from strategic investors. The capital increase stems from the company’s Series A funding round which gave Avocado Guild an overall valuation of around $ 200 million.
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 big business this year and according to a recent study, a majority of software engineers dedicated to gaming are starting 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 game-to-win guild that aims to unlock life-changing opportunities and rewarding experiences for members of its community.” 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 round table. According to Avocado Guild, the organization aims to expand to different P2E blockchain games and also become a decentralized autonomous organization (DAO) called Avocadodao.
Blockchain up-and-coming gaming has been a hot topic this year and many believe this is the future of online and multiplayer gaming, while many others disagree with this vision. Ubisoft mentioned blockchain gaming in a recent earnings report and the executive vice president of gaming at Microsoft recently addressed NFT gaming. Gaming giant Square Enix is considering entering the blockchain gaming industry, and Morgan Stanley believes the metaverse is the next big investment theme.
