‘Factory of the Metaverse,’ BreederDAO, Raises $10 Million in a Series A Round
We are proud to announce that we closed our Series A at $10 million. The round was co-led by the ventures arm of digital asset research and design firm, Delphi Digital, and Andreessen Horowitz (a16z), with participation from Hashed, com2us, Morningstar Ventures, Mechanism Capital, Sfermion, The LAO, Emfarsis and others.
We will use these funds to scale our asset generation program and make strategic investments in blockchain games with player-driven economies. These types of games require a large volume of high caliber assets to fulfill rising consumer demand from their launch. We will also expand our core team to hire more senior engineers and business developers.
“Play-and-earn has laid the groundwork for a whole new gaming economy that enables the most active participants to benefit directly from its upside,” said Arianna Simpson, General Partner at a16z and an Axie Infinity board member. “With demand for play-and-earn games rapidly expanding, quality NFT production and scholarship programs also need to scale up quickly, but asset liquidity remains a barrier. That’s why we’re excited to partner with BreederDAO, which will accelerate the whole ecosystem and unblock essential assets to help play-and-earn reach its full potential.”
In 2021, play-and-earn guilds raised $532 million, primarily for the purpose of acquiring NFT gaming assets which are leased to new players under a revenue-sharing arrangement in blockchain games, known as a “scholarship.” However, according to public data, these guilds have only deployed around 60,000 scholarships to date. This represents less than 2% of Axie Infinity’s nearly three million daily active users, underscoring the growth potential if the supply of NFT gaming assets can be unblocked for smaller guilds and retail consumers.
“Breeding is an integral mechanism for balancing play-and-earn game economies, such as Axie Infinity. It’s a complex process involving many economic factors that can be difficult to scale. In an ideal world, these NFT assets can be optimised for the highest ROI to increase overall guild earnings. We’re very excited to be backing BreederDAO as it fills a critical gap in the market by introducing scalable supply-side liquidity,” said Yan Liberman, Founding Partner, Delphi Digital.
We have already deployed $600,000 towards breeding operations across three different game economies, growing this to $1.7M in value in the span of a month, a 180% return at a time when bitcoin had fallen by 20%. Right now, we are focusing on building a platform to automate a number of our highly specialized programmatic breeding programs, not only in Axie Infinity, but other NFT games with strong play-and-earn mechanics as well, such as Crabada and Pegaxy.
The team is led by Filipino co-founders Renz Chong, Jeth Ang, and Nicolo Odulio. Chong is a former management consultant with experience in the fields of growth strategy, data science, and machine learning, having consulted on scaling and optimization of supply and demand for Angkas, a two-sided marketplace for motorcycle drivers and riders in the Philippines. Ang has founded six cashflow-positive companies in the Philippine construction, logistics, and ecommerce industries and is the founder of a player guild with 500 scholars active in three NFT games. Odulio, a former Philippines Airlines commercial pilot, is BreederDAO’s in-house smart contract expert with experience building cryptocurrency projects and dApps across several chains, including Binance Smart Chain, EOS, and Ethereum. Odulio is currently studying for his postgraduate MSc Blockchain & Digital Currency at the University of Nicosia.
“BreederDAO will play an important part in the global play-and-earn ecosystem that we at YGG are developing. The demand for scholarships is unending and BreederDAO will help to democratize access to top quality NFTs, while helping to accelerate the movement in Web3 gaming that has already positively impacted millions of lives,” said Gabby Dizon, co-founder of the world’s first play-and-earn guild, Yield Guild Games (YGG). YGG and Infinity Ventures Crypto (IVC) led an earlier seed round for BreederDAO with participation from Ascensive Assets, Bitscale Capital, FireX, Mentha Partners and Not3Lau Capital.
We would like to take this opportunity to thank all our series A investors, early backers, and angel investors for their confidence in us and for supporting our mission!
While celebrating this milestone, we continue to be focused on our efforts to becoming a pillar of the play-to-earn economy, equipping the next billion players as they join the blockchain gaming revolution, and #BREEDing life into the Metaverse!
ABOUT DELPHI DIGITAL
Delphi Digital (https://www.delphidigital.io/) is a research-driven firm dedicated to advancing the understanding and development of the growing digital asset market. Its foundations lie in producing institutional grade research for some of crypto’s top funds, institutions and investors, and the firm also consults with leading projects in the space. A prop fund was added in 2020 to enable Delphi to continue driving the digital asset space forward.
ABOUT ANDREESSEN HOROWITZ
Andreessen Horowitz (a16z) backs bold entrepreneurs who move fast, think big, and are committed to building the next major franchises in technology. Founded by Marc Andreessen and Ben Horowitz, the firm provides entrepreneurs with access to expertise and insights in innovation, executive and technical talent, market intelligence, business development, and marketing and brand-building. Find us at www.a16z.com.
We appreciate every one of our early backers & supporters. You can read more about the Series A Round Funding Announcement here📰. Stay tuned to our key social channels to stay updated about our journey, news, and other exciting developments — Remember to follow us on key social channels. 👇
Website: https://breederdao.io
Twitter: https:/www.twitter.com/breederdao
Telegram Announcements: https://t.me/BreederDAOAnn
Telegram Community: https://t.me/BreederDAO
LinkedIn: https://www.linkedin.com/company/breeder-dao/
Discord: https://discord.gg/BreederDAO
Medium : https://medium.com/@breederDAOcommunity
Regional Telegram Groups
Turkish: https://t.me/BreederDAO_TR
Spanish: https://t.me/BreederDAO_ES
Korean: https://t.me/BreederDAO_KR
Vietnamese: https://t.me/BreederDAO_VN
Russian: https://t.me/BreederDAO_CIS
French: https://t.me/BreederDao_FR
Portuguese: https://t.me/BreederDAO_PT
Chinese: Message us on Telegram and ask for the Chinese WeChat QR Code
