Australia-based blockchain gaming guild Avocado Guild bags $18m Series A

Australia-based blockchain gaming guild Avocado Guild has raised $18 million in its Series A funding round co-led by Animoca Brands and QCP Soteria Node, per media reports.

Other investors participating in the investment were Three Arrows Capital, Solana Ventures, Polygon Studios, and Binance Smart Chain.

The funding round reportedly values Avocado Guild at over $200 million, stated the reports.

Avocado Guild is a community to support play-to-earn gamers of titles such as Axie Infinity. The company will use the funding to expand its operations to other play-to-earn games, and purchase non-fungible tokens (NFTs) and assets in virtual worlds.

Avocado Guild currently has 7,000 members in its scholarship programme, mostly from the Philippines and Indonesia, which it aims to increase to over 10,000 members, according to media reports.

Axie Infinity is the most popular play-to-earn game in Southeast Asia, developed by Vietnam-based blockchain game publisher Sky Mavis. The company has recently raised a $152 million Series B funding round led by US investor Andreessen Horowitz (a16z), at a reported $3 billion valuation.

This month, Thailand-based GuildFi, a Web3 infrastructure developer for games such as Axie Infinity, also snapped up a $6-million seed funding round co-led by DeFiance Capital and Hashed.

In October, Animoca Brands – an investor in both Axie Infinity, Avocado Guild and GuildFi, raised a new $65 million investment conducted at a pre-money valuation of $2.2 billion.

The global video game market was estimated to generate $175.8 billion in 2021, Animoca Brands said.

To tap this enormous opportunity, the company has backed more than 100 NFT-related projects such as OpenSea, Dapper Labs, Bitski, and Star Atlas, among others.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.