Play It Forward DAO announced the raise of a $6M private round of investment led by Signum Capital, Kyber Ventures, and UOB Venture Management. This Singapore-based gaming DAO platform aims to use the newly raised fund to drive growth in the play-to-earn gaming industry. Other investors are ump Capital, GBV, LD Capital, Great South Gate, Octava, 975 Capital, Arcane Group, Tokocrypto, AU21, Double Peak Group, Faculty Group, NxGen, DWeb3 Capital, GSR, SL2 Capital, and Mintable.
The Play-to-earn industry is growing very fast, and new games are launching in this sector in the hope of attracting more players and massive growth. These kinds of games can attract traditional gamers as well as crypto enthusiasts who are looking for new ways to earn crypto. The games offer rewards for engaging with platforms and playing more. This industry still needs more resources to grow snd new investments can surely help platforms like PIF DAO expand services faster. PIF plans to build an ecosystem to drive growth for this industry and build a metaverse for all.
Play It Forward has been successful in creating a community of over 40,000 participants and 3,000 scholars in the last six months. There are many plans ahead for this gaming DAO in expanding services and making it easier to build and play blockchain games. PIF claims a plan to transform play-to-earn into a plug-and-play experience that will support more players globally.
PIF has a guild management platform named P2E Board. It’s designed with a considerable focus on enabling efficient management of guilds and scaling the operations.
As mentioned above, the latest raised capital will help PIF expand services to more users. There are still many communities needing to play crypto games, but they have problems accessing them. This DAO plans to offer a plug-and-play experience in the market that helps guilds offer their games in a metaverse easier.
Investors of the latest capital raise fund are confident about the future of PIF DAO and plan to support it in the long term. Loi Luu, Founder of Kyber Network, said:
“Kyber Ventures confidently invested in PIF because of their unique guild gaming system, which can drive value to the Play-to-Earn economy as a whole. We believe the P2E movement will continue strong and onboard tens of millions of new users to the Metaverse.”
The play-to-earn industry still has a long way ahead. Although many games and DAOs are launching in this sector, it still needs more investment to offer and promote services to more people. Investments like the latest capital rise by PIF show some positive signs that the industry is ready to grow faster in 2022.