Play It Forward DAO (PIF DAO) has now started 2022 by confirming that it has raised around $6 million from the private investors, barely six months after launching. The gaming DAO comprises a guild of at least 40,000 players and 3,000 scholars across Indonesia and the Philippines. All of these participants are managed through a play-to-earn (P2E) scholar management program.
Today, the DAO has players spread across many notable Metaverse P2E games, like Axie Infinity, Pegaxy, Thetan Arena, and Dragonary. The co-founder Cholo Maputol told reporters that the funds will be used to scale the DAO’s scholarship programs, scale up its P2E board platform, and finance some early-stage investments in P2E games and infrastructure projects.
“PIF DAO’s objective is not to take a larger piece of the pie, but to grow the pie and increase rewards for players.”
In their January 2, 2022 announcement, the DAO said that the fundraising round represents its next phase of:
“Building a platform that will transform Play-to-Earn into a Plug-and-Play experience for more guilds and players globally.”
Maputol said that P2E gaming can be inaccessible to most players since it needs lots of technical knowledge to get started such as setting up a wallet together with purchasing tokens.
“We want to build an ecosystem that abstracts all that away so any manager or player can get started in play-to-earn seamlessly (plug-and-play).”
The major investors that signed up to the table included Signum Capital that has also backed other huge projects including Ren and Polkadot. The other partners who signed up included Jump Capital, GBV, LD Capital, Kyber Ventures, UOB Venture Management, Tokocrypto, AU21, Double Peak Group, Great South Gate, Octava, 975 Capital, Arcane Group, Faculty Group, GSR, SL2 Capital, NxGen, DWeb3 Capital, and Mintable.
Loi Luu, the Kyber founder, said that they had:
“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.”
PIF DAO was previously called Railings University, before changing its name in December 2021.
