BUSINESS NEWS | digital & technology

First-ever NFT rental marketplace called Playdex raises $2M in seed funding

By ICON Staff
Published June 13, 2022

Philippines-based Playdex, a play-to-earn rental marketplace that allows gamers and guilds to rent gaming assets from NFT holders, has raised $2 million in a seed funding round, which it will use to accelerate product development, community building, and integration of more games into the platform. 

Participating investors in Playdex’s seed round include PDAX, OrangeDAO, iSeed Ventures, Tinder co-founder Justin Mateen, Magic co-founder Aaron Kemmer, CSVE Ventures Managing Partner Nina Teng, Yaw Yeo of XA Network, Lazada Philippines chairman Ray Alimurung, and Buko Ventures.

“On Playdex, gamers can play and earn immediately without having to buy expensive NFTs. Guilds can now focus on training and scaling their communities no longer burdened by the hefty financial costs of gaming assets. While NFT owners can simply earn from their assets passively,” said co-founder Ron Hose, former CEO of local fintech firm Coins.ph.

Aside from Hose, the company’s founding team is composed of crypto and fintech veterans, which includes former Xendit engineer and P2E guild founder Daniel Laborada, Yield Guild Games manager and P2E guild founder Bernadette Misa, Coins.ph’s head of operations and marketing Thea Santos and engineering lead Eduard Iskandarov, and PayMongo co-founder Luis Sia as well as Wesley Dela Cruz of PayMongo’s Growth team. The team is advised by Colin Goltra, Yield Guild Games COO and former Binance director for Southeast Asia. 

“By creating a digital platform where NFT owners can upload their assets for guilds and gamers to rent, we unify previously fragmented and informal transactions and make them streamlined and seamless,” said Daniel Laborada, CEO of Playdex, according to Esquire Magazine. “Playdex empowers more people to have easy access to NFT games and reap the economic benefits of blockchain gaming.” 

The number of Filipino daily active users of blockchain games is expected to grow exponentially by 2050.

Source:

Coins.ph co-founder co-launches NFT rental platform with $2m in seed funding

Filipino Tech Leaders Raise $2 Million to Launch First NFT Rental Marketplace