40,000 member player guilds raised $6 million to simplify P2E games

Play It Forward DAO (PIF DAO) announced that it has raised $6 million from private investors, starting 2022 only six months after its launch.

The DAO includes a guild of more than 40,000 players and 3,000 scholars in the Philippines and Indonesia, all of which are managed through a Game Earning (P2E) Scholar Management Program.

Currently, DAO has players of many famous Metaverse P2E games, including Axie Infinity, Thetan Arena, Pegasy and Dragonary.

Co-founder Cholo Maputol told Cointelegraph that the funds will be used to expand DAO’s scholarship program, expand its P2E board platform, and provide funding for some early investments in P2E games and infrastructure projects.

“The goal of PIF DAO is not to get a bigger piece of cake, but to make the cake bigger and increase rewards for players.”

On January 2 announcement, DAO stated that the fundraising round represents its next phase “building a platform to transform Play-to-Earn into a plug-and-play experience for more guilds and players around the world.”

Maputol explained to Cointelegraph that many players may not be able to access P2E games because it requires a lot of technical knowledge to get started, such as setting up a wallet and buying tokens.

“We want to build an ecosystem that abstracts all of this out so that any manager or player can seamlessly start playing and making money (plug and play).”

The major investors who signed the contract include Signum Capital, which also supports other well-known projects, including Polkadot and Ren.

Other contracted partners include Kyber Ventures, UOB Venture Management, Jump 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.

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Kyber founder Loi Luu stated that they are “confident to invest in PIF because their unique guild game system can bring value to the entire Play-to-Earn economy”, then added:

“We believe that the P2E movement will continue to be strong and bring tens of millions of new users to Metaverse.”

Before the name change in December 2021, PIF DAO was formerly known as Railings University.

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