In Brief:
- Avocado Guild has raised $18 million in funding from investors.
- Animoca Brands, Solana Ventures, Three Arrows Capital are among the investors.
- Avocado Guild is already worth $200 million in just six months.
Avocado Guild, a blockchain game company similar to Yield Guild Games, which is sponsored by a16z, has raised $18 million in a Series A fundraising round. In just six months, the Avocado Guild’s value has risen to $200 million.
Three Arrows Capital, Solana Ventures, Polygon Studios, Binance Smart Chain, and GoldenTree Asset Management executives participated in the investment, which was led by Animoca Brands and QCP Soteria Node.
The company’s three guiding principles are to enrich, educate, and empower the community to better understand Web 3.0 technology and its benefits.
The funds will be used to expand the company’s technological capabilities and help it migrate to AvocadoDAO, a decentralised autonomous organisation.
Brendan Wong, co-founder and CEO told, “Avocado Guild emerged from an opportunity identified by the founders, where blockchain-based games had the ability to improve the lives of communities all over the world. Through P2E, the unbanked population now have the ability to make changes to their lives based on their actions in the virtual world.”
The CEO also added, “We envision that AvocadoDAO will eventually be governed by Avocado token holders in a decentralized and permissionless fashion.”
Avocado Guild will use the extra funds to expand its crew and expand its scholarship programme, which has benefited the community by exposing players to a variety of P2E games, including Axie Infinity, and providing them with the non-fungible tokens (NFTs) they need to play.
The Avocado Guild’s scholarship programme already has 7,000 members, with a goal of 12,000 by the end of the year.
The project now recruits new members mostly in the Philippines and Indonesia, but it hopes to expand its influence throughout Southeast Asia. Avocado Guild has over 30,000 Twitter followers and over 39,000 members in their Discord channel as of October.
Finally he added, “as our guild continues to grow and expand into future cornerstone games, our scholarship program offerings will broaden to provide both P2E and DeFi opportunities, furthering the goal of enriching our scholars’ lives.”
With such similar motives, ORIGYN, a Swiss non-profit foundation, recently raised $20 million in a strategic funding round valued at $300 million, valuing the platform at $300 million.
