Animoca Brands leads $18m raise of play-to-earn guild firm

Details:

• Three Arrows Capital, Golden Tree Management, Solana, Hashed, and Binance Smart Chain Fund also participated in the fundraise.
• Avocado Guild hosts 7,000 players, who come mostly from the Philippines and Indonesia. Aside from offering guidance on how to navigate P2E games like Axie Infinity, it also teaches members about Web 3.

Dive deeper: 

• P2E guilds usually lend game assets to new players or scholars on an earning-sharing model to get them started. Avocado’s system follows a 50-50 split between the players and the guild. (Read: A16z’s first Philippine bet is shaking up blockchain gaming)
• Interest in P2E games rose with the popularity of Axie Infinity, with its parent company Sky Mavis raising US$152 million this year. Axie players, however, face the challenge of lower payouts from the once-lucrative platform as real-life value of virtually earned tokens took a nosedive.