Only six months after its introduction, Play It Forward DAO (PIF DAO) has announced that it has received $6 million through private investors.
The DAO has a guild of over 40,000 members and 3,000 scholars spread over the Philippines and Indonesia, all of whom are controlled by a scholar management program that allows them to play-to-earn (P2E).
The DAO presently has participants in numerous popular Metaverse P2E games, including Axie Infinity, Thetan Arena, Pegaxy, and Dragonary.
According to co-founder Cholo Maputol, the cash will be utilized to expand the DAO’s scholarship programs, expand its P2E board platform, and support certain early-stage investments in P2E games and infrastructural undertakings.
The DAO noted in a Jan. 2 release that the financing effort is the latest step in “developing a platform that will turn Play-to-Earn into a Plug-and-Play interface for further guilds and players worldwide.”
P2E gaming, according to Maputol, can be unavailable to several gamers since it needs a lot of technological understanding to get involved, like establishing a wallet and buying tokens.
Signum Capital, which has previously funded other famous startups such as Polkadot and Ren, was among the major investors that joined the table.
Kyber Ventures, 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, and GSR are among the other partners that have joined.
PIF DAO was originally recognized as Railings University until December 2021, when it changed its identity.