Playground raises pre-Seed funding led by East Ventures, Mirana

Playground, a new platform dedicated to Web3 Gaming and NFT discovery, announced the completion of its oversubscribed pre-seed funding round co-led by East Ventures and Mirana Ventures.

The round was also participated by other notable institutions and angels such as Arc Capital (A global private crypto fund, affiliated with Pintu), James Z (Founder of Jambo), Adam Levinson, Murali Abburi (Graticule Asset Management, a leading global hedge fund), and Benjamin Zhu (Azure Tide, a digital asset specialist firm), as well as senior executives from leading blockchain technology companies.

Playground was founded to address the ‘Web3 Information Problem’ – the massive gap in the discovery process for both new and seasoned users.

This stems from the rapid growth of blockchain-enabled entertainment projects, and the accompanying fragmentation of information – often subjective, outdated or unreliable – over disparate sources and channels.

In Playground’s view, the Web3 Information Problem is the single greatest barrier to mass adoption in Web3 entertainment.

“Despite being experienced blockchain users, our excitement for the new paradigm of digital ownership and decentralization in Web3 entertainment has been tempered by frustration in the discovery process, where we have met with great difficulty in sourcing, verifying, and aggregating information on Web3 gaming and NFT projects,” Playground founder and CEO Clinton Teh said.

Targeting this central problem, Playground is an independent, one-stop platform which bridges the information gap for all users in Web3 entertainment, with a laser focus on legitimacy and experiences.

On Playground, users will be able to discover all aspects of trusted Web3 entertainment projects interactively and be kept abreast of updates and milestones for both new and existing projects.

Users will also be able to engage with ecosystems and communities in debate and discourse on a neutral battleground, in a burgeoning and rapidly evolving space where experimentation and new ideas are abound.

The founding team of Playground has extensive experience across both Web3 and Web2, with backgrounds across investments, strategy, product, technology, and growth in leading companies including Binance, Classpass, and Tencent, as well as involvement in various decentralized autonomous organizations (DAOs) focusing on content creation, digital-first brands, and Web3 gaming.