Play It Forward DAO (PIF DAO) announced the completion of a $6 million private round co-led by Signum Capital, Kyber Ventures, and 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 are some of their other investors. Notable angel investors also joined the company.
With a varied mix of investors from all corners of the Metaverse, PIF DAO is well-positioned to carry out its aim of Making Play More Rewarding.
YY Lai, a partner at Signum Capital, recognizes the company’s solid team.
“Together, they embody the core idea to what makes an effective guild – creating a great experience for gamers,” he said in a statement.
He added that “the founders have the business acumen and proven execution capability” and “believe they will expand their horizons by partnering with major game studios and publishers when the existing gaming industry evolves”.
Loi Luu, a founder of Cyber Network, said they invested in PIF because they believe in their unique guild gaming system, which “can drive value to the Play-to-Earn economy as a whole”.
Luu added that they believe “the P2E movement will continue strong, and onboard tens of millions of new users to the Metaverse.”
In order to fulfill the company’s long-term aim of developing an ecosystem geared to promote growth in Play-to-Earn and create a Metaverse for everybody, this round will assist PIF DAO even more.
PIF DAO has developed a community of over 40,000 players and over 3,000 scholars (among the largest guilds in the world) across numerous games in the previous six months with Axie Infinity, Thetan Arena, and Pegaxy.
Now, they’re moving forward with the next phase of their DAO, which will turn Play-to-Earn into a Plug-and-Play experience for more guilds and players throughout the world.
P2E Board, PIF Dao’s guild management platform, will enable effective guild management and allow every manager to easily scale their operations.
PIF DAO’s goal in democratizing the Metaverse is to grow the pie and enhance benefits for players, not to take a larger piece of the pie. It also pushes the Metaverse forward by developing an environment for gamers, by gamers, based on enjoyment and opportunity.
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