P2E Players Teamed up and Raised $6 Million
More than 40,000 players from various P2E games have joined together in Play It Forward DAO to make the Play-to-Earn format more accessible and profitable.
Play It Forward DAO (PIF DAO) has raised $6 million in investment for its projects. The organization was called Railings University until December 2021. PIF DAO has over 40,000 players and 3,000 scholars from major gaming guilds such as Axie Infinity, Thetan Arena, Pegaxy and Dragonary.
According to one of the PIF DAO founders, investments will be used to fund the project’s scholarship programs, develop a thematic learning platform, infrastructure projects and funding for prospective P2E games.
The main goal of the project’s creation is to transform Play-to-Earn into Plug-and-Play. This involves simplifying access and increasing profits for players. At the moment, the P2E format requires some technical knowledge, such as setting up a crypto wallet and buying in-game tokens, which makes games of this kind inaccessible to many players.
Based on the PIF DAO press release, the project was supported by large funds such as Signum Capital, Kyber Ventures, Jump Capital and UOB Venture Management, as well as 15 other investment companies in the second round of fundraising.
Investors expect that PIF DAO’s initiatives and social organization will attract tens of millions of new users to P2E games and add value to the overall economy.