Play It Forward DAO Raises $6M to Simplify P2E Gaming

• The Play It Forward DAO has a coalition of more than 40K and 3K scholars across the Philippines and Indonesia.
• In an announcement by the PIF DAO said that the fundraiser reflects the upcoming phase for Play to Earn gaming.
• Signum Capital was among the major investors. Ren and Polkadot are among some noteworthy projects supported by the investor.

Successful Fundraiser

With the declaration of $6 Million raised by the Play It Forward DAO via private investors, it has kick-started the year successfully, just after 6 months of DAOs launch.

A coalition of more than 40K members and 3K scholars are involved in the PIF DAO all over Indonesia and Philippines, where all of them are controlled through play to earn scholar management program.

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As of now, PIF DAO has users across various noteworthy play 2 earn metaverse games that include Dragonary, Pegaxy, Thetan Arena, Axie Infinity.

Cholo Maputol, Play It Forward’s co-founder, told a news agency that the utilization of funds will be done for scaling the scholarship programs associated with the PIF DAO, scaling up its play to earn its board platform, and to fund some initial stage investments in play to earn games as well as 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,” stated the co-founder.

Evolution of P2E Games

Play It Forward DAO announced on the 2nd of January that the fundraiser reflects the upcoming phase of “building a platform that will transform Play-to-Earn into a Plug-and-Play experience for more guilds and players globally.”

Maputol further explained that many people are not able to access the play to earn games, as they do not have the knowledge that these games require technical setup like buying the associated tokens or establishing a wallet. “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),” said the individual.

Signum Capital was among the core investors who agreed upon the cause. The organization has also supported some of the noteworthy projects like Ren and Polkadot.

Mintable, SL2 Capital, GSR, DWeb3 Capital, NxGen, Faculty Group, Double Peak Group, AU21, Tokocrypto, Arcane Group, 975 Capital, Octava, Great South Gate, LD Capital, GBV, Jump Capital, UOB Venture Management, Kyber Ventures were among the other partners who agreed to sign up for the table.

Loi Luu, founder of Kyber, said that 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,” adding that, “We believe the P2E movement will continue strong, and onboard tens of millions of new users to the Metaverse.”

Play It Forward DAO changed its title from Railings University back in December 2021.

P2E games are a fun way to make some profits, but the users need to set up their wallets, as the tokens earned by them from P2E games will be stored in the wallets, and can be traded through their established wallets.