PlayDough Technologies, and its Play to Earn Games Raises $2 million in funding round.
The funding round was led by a London-based venture capital firm, Westridge Markets.
PlayDough Technologies is yet another game based on NFT and blockchain technology that is famous in more than 30 countries. The game uses the newest gaming business model; play-to-earn.
The gaming business model has come a long way from play to play to free to play to play to earn. The newest revenue model allows developers to create a metaverse where the in-game accessories and characters are NFTs on a blockchain.
Users engage in a transaction of NFTs and control the economy on their own with developers taking a small amount of commission. Users then play the game to earn rewards (in-game cryptocurrency) which can be redeemed on exchanges for other cryptos or USD.
PlayDough Technologies is making life easier for gamers residing in developing countries. Play to earn games requires NFTs which can cost from a few hundred to thousands of dollars.
This leaves players from developing countries unable to become part of a play to earn economies. Play Dough creates ease for such players as it is an investment firm as well as a community actively engaged in creating a portfolio of gaming NFTs.
Players can use PlayDough’s NFT’s and generate yield for themselves as well as for PlayDough.
PlayDough Technologies co-founder, Mehul Khati, said, “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 Play-Dough, 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 Play-Dough is planning to build on.”