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IBC DAO is pleased to announce the successful end of its Crowdfunding round A, which raised a total of $500k from 50 crypto investors all around the world. The recently formed decentralized autonomous organization (DAO) will help skilled players to be a part of the play-to-earn economy by removing initial entry barriers.
For more than a decade, we witnessed games rule players and not the other way around. Players could not own in-game assets and benefit from any utility associated with them. For example, PUBG players cannot trade their skins or outfits with other players or at a secondary marketplace.
Thanks to blockchain technology and the emergence of non-fungible tokens (NFTs) that will now change. A new, fairer business gaming model with play-to-earn is going to revolutionize the entire gaming industry. Players now get to fully own their assets and earn a consistent income playing their favorite games.
A prime example would be Axie Infinity. It is the largest P2E game in the crypto industry, with over 1 million daily active users. And it enables players from third-world countries to earn more than $1000 every month. However, it is required by the players to have NFTs or Axis in their wallet to start playing the game. The same applies to every leading blockchain P2E game.
Now, the majority of players cannot make the initial investment but have the skills to excel playing a particular game. This is where IBC DAO comes into the picture. Our community-led gaming guild will support players with the seed investment and enable them to earn income from various P2E games.
We also continue to add proven NFT assets to our DAO treasury. Recently, we purchased a 3×3 virtual land parcel in the Sandbox metaverse. And we also picked up many NFTs from top collections such as DeadFellaz, ON1 Force, Creature World, and Robotos. We believe this will give DAO members exposure to some of the best-performing NFT assets.
Founder of IBCDAO Hitesh Malviya says “We’re grateful to our genesis members for their contribution to our first funding round. We all share the same long-term vision to build the biggest game guild and empower players in countries like India. We will soon release our governance system, bringing us closer to the public launch, which is three months from now.”