Blockchain gaming platform PlayDough announced a $2 million funding round led by venture capital firm Westridge Markets. PlayDough’s mission is to build a conduit that democratizes access and enables anyone to participate in the play-to-earn gaming economy.
“While building a community around PlayDough has been satisfying, the ability to look at play-to-earn as a yield generation strategy has also been a motivator for the trader in me,” said Mehul Khati, Co-Founder of PlayDough Technologies. “We have built valuation models, breeding strategies, and training programs for our community to be able to generate the highest yield possible. While Axie being the most advanced game in the play-to-earn space remains the focus for PlayDough, it has already started building inventory in emerging games from Sorare to Gods Unchained. Star Atlas on Solana and Moonray on Stacks are showing early signs of a cross-chain universe that PlayDough is planning to build on.”
The NFTs required to play many games can cost anywhere from a few hundred to a couple of thousand dollars, leaving the vast majority of players, particularly those from developing countries, unable to access these play-to-earn economies. This is where a gaming community like PlayDough steps in.
PlayDough is both an investment firm creating a portfolio of gaming NFTs and a remote gig economy network that allows individuals to use its collection to generate yield for themselves and PlayDough.
(All information was provided by Yahoo! Finance)