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Avocado Guild valued at $ 200 million after final round of funding



Avocado Guild, a play-to-earn (P2E) startup, has raised $ 18 million in a funding round led by Animoca Brands. This increases the company's valuation to $ 200 million. The round was carried out by QCP Soteria Node. Solana, Three Arrows Capital, Hashed, Golden Tree Management and Binance Capital Management took part in the round.

Avocado and other gaming guilds are pooling P2E players who can earn crypto coins with Axie Infinity and other titles of this type . You can make revenue sharing agreements. To get players into the game, they provide start-up credits.

Avocado Guild: A metaverse of metaverse

Brendan Wong, co-founder and CEO of Avocado, described the guild as a "metaverse of metaverses" in an interview with CoinDesk. The platform allows players to participate in multiple virtual worlds. The players are trained to become Web 3 users, learn how they can generate additional income in P2E games, become part of the community and use the possibilities of decentralized finance.

Wong added that his guild will expand its activities to other P2E games. The funds raised in the round will be used to purchase non-fungible tokens (NFTs) and land in virtual worlds.

The Avocado Guild will offer more than 10,000 people access to their scholarship program. The guild currently has around 7,000 members, most of them from Indonesia and the Philippines. Participants in the program are trained to use games such as Axie Infinity. After agreeing to split the profit in half, they will receive start-up capital. Then you can start playing.

Although participants can opt out of the program at any time, most choose to stay with the community even after the scholarship expires, according to the executive director of Avocado.

Axie is enjoying increasing popularity

Axie Infinity is incredibly popular in the Philippines. The developer of the game Sky Mavis reportedly has a valuation of $ 3 billion. That summer, the Manila Bulletin reported that the Philippine authorities wanted to tax the players and the publisher of Axie Infinity. In response, Sky Mavis COO and co-founder Aleksander Leonard Larsen announced:

Axie Infinity does not sell SLP and does not provide liquidity in the market. The tokens are only earned by playing or acquired by other players. Some people create grants or businesses and then hire other players to work for them.

There were no further reports on the taxation of crypto currencies in the Philippines, so one can assume that Axie time being safe.

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