A series of guild-focused projects have participated in a private funding round for AAG Ventures, a platform dedicated to democratising the emerging play-to-earn (P2E) gaming sector.
Avocado Guild, AXIE.MX, and Legadzo Scholarship all pledged capital to AAG, which is seeking to create a comprehensive ecosystem of gaming ‘scholars’ who earn income from interacting with various gamefi and metaverse protocols.
In joining forces, the quartet have paved the way for greater collaboration between their respective guilds in a bid to make P2E accessible for all. In total, AAG Ventures raised $12.5 million during the oversubscribed private round, which was led by Shima Capital, Tribe Capital, and Tess Ventures.
A Landmark Partnership
Like AAG, Avocado Guild has ambitions of making a difference through empowerment and education, unlocking P2E earning opportunities especially for those in the developing world. The NFT gaming startup recently raised $18 million in its own Series A funding round, giving it a valuation of $200 million.
AXIE.MX, meanwhile, is a fan site dedicated to the smash-hit Axie Infinity game. The venture runs training sessions for aspiring gamers keen to generate revenue from the game, with players able to ‘rent’ accounts to improve their earning potential. Axie Infinity, of course, is a major focus of AAG Ventures who have created a vast network of over 2,000 scholars operating under the Achip & Achair Guild banner.
Like its new partners, Legadzo Scholarship has established a presence in the world of Axie Infinity, a platform that recently set a record by selling the most expensive piece of virtual land to date. The price tag? 550 ETH, equivalent to around $2.4 million when the sale occurred two weeks ago. The popular NFT game has supported over a billion dollars in trading volume since launching in March 2018, and now boasts over two million daily active players.
The brain trust behind AAG Ventures believes that pooling resources is the best way forward for players and small guilds, who often lack the funding, technical nous and software to exploit the metaverse’s many earning opportunities. The AAG platform enables both small and large guilds to operate more efficiently and bring greater value to their communities through things like performance monitoring and coaching, an Axie Breeding Manager (ABM) and NFT Asset Intelligence (NFT-AI).
AAG Token Offering Draws Nearer
The Initial DEX Offering (IDO) for AAG’s eponymous native token is set to commence on December 12 at 12 noon UTC before concluding 72 hours later. The token will launch on the Balancer-based Copper Launch platform, a launchpad that eschews KYC and preferential treatment for larger investors.
The AAG token will serve as the de facto currency for P2E and L2E (learn-to-earn) activities on the ecosystem, simplifying the process by which scholars receive payouts for their endeavours in the metaverse. AAG tokens can also be used to participate in the purchase of fractionalized NFTs, giving regular users the opportunity to earn a share of high-value assets that would otherwise be off-limits.
Moreover, AAG token-holders will get to have their say by voting to support or reject initiatives as part of the platform’s self-sustained Foundation DAO.