Avocado Guild — Telegram AMA — December 19
On Sunday, December 19, we had the pleasure to welcome to our Telegram chat:
Brendan Wong, Co-founder and CEO
We asked him questions about the development of Avocado Guild.
Some sentences have been slightly edited for readability but the meaning has been conserved.
Avocado DAO is a collection of contributors that believe in the benefits of blockchain technologies and the metaverse. To advance those benefits, the Avocado DAO intends to undertake and facilitate a range of activities that initially will enrich the ecosystem of blockchain games as well as provide yield farming and content creation opportunities to their members.
Avocado DAO will focus on investing in current and future NFT assets within games and emerging metaverses and lend the NFTs back to their guild members to optimize yield. The goal is to share the profits of the DAO with the guild members and the owners of the Avocado Guild ($AVG) token and maximize the utility of all the NFT assets owned by Avocado DAO.
Avocado DAO not only invests in NFT assets but is also focused on growing and enriching a community for virtual gamers to produce content as well as enjoy blockchain games. One of the underlying motives for the Avocado DAO is to facilitate environments in which more people can be exposed to blockchain technologies and enable them to capitalize on opportunities within different metaverses. This motive will be accomplished through accessibility and education provided by the Avocado DAO.
Delivery on this objective should provide a reward to both the guild members and $AVG token holders by way of yield profits for their contribution to the Avocado DAO. In essence, the Avocado DAO is a facilitator of the metaverse community who believes that the metaverse has the potential to improve the way in which things get done and the lives of many.
Q — Ayeley from GAINS: Please introduce yourself. What did you do before crypto and did you have any other previous venture in crypto?
A — Brendan from Avocado Guild: Hello everyone! I am Brendan Wong AKA Brendino. The co-founder and CEO of Avocado Guild (Soon to be Avocado DAO). I’ve been into crypto since early 2018. My interest started with Eth, BTC, and XRP. I’ve been trading here but I never saw a situation where crypto could improve people’s lives until mid-2021
Prior to all this, I’ve been a serial entrepreneur. I’ve started over 5 businesses over a span of 16 years. In retail, hospitality, equity management, and startups. Avocado Guild is my first project in Crypto. I’m supported by the best advisors and our project is backed by Crypto Tier ones. We are here to make a change through an opportunity myself and my co-founders identified in mid-2021. A real opportunity where crypto can be used to improve the lives of many through P2E blockchain technology
I identified that this was a HUGE market… rather untapped and very infant. I wanted to be a part of the building process and help scale operations so that more people can understand and have access to P2E which can benefit their lives…All these decisions have led me to where I am now
Avocado Guild currently supports over 10.7k scholars. Many in the PH and Indonesia. We’re very supportive of our community and our well wishes go to all our scholars affected by the Typhoon. We are currently sending help, money, and food to the ground.
About Avocado Guild
Q — Ayeley from GAINS: Please tell us about the Avocado Guild and your operations. What is the project about?
A — Brendan from Avocado Guild: Avocado Guild’s operations is one where we acquire NFTs in different Play2earn (P2E) games and lend these NFTs out to our community for the purpose of enjoying a game and yield generation through quests and content creation. Avocado Guild share’s the yield farmed with our community players (AKA scholars)
Gaming guilds are a rather new concept, but since the emergence of P2E and blockchain-based games, a couple of large guilds have come into the space. Avocado Guild is the largest gaming guild with over 10.7k scholars directly managed by us. Over 56k discord and 43k Twitter followers.
Our goal is to provide Play2Earn opportunities to as many people that can benefit from this as we can. P2E is based on crypto technology and as we are all aware of. Crypto has a tough learning curve. At Avocado Guild, we support our members by teaching them how to play various games where they can farm and earn yield, as well as introduce them to crypto and the different ecosystem chains, etc. We don’t just lend NFTs, but we provide the support to help onboard users into web3 technology.
Q — Ayeley from GAINS: What are some of the games your scholars get to play?
A — Brendan from Avocado Guild: All of our scholars get to enjoy Axie Infinity. Many others have access to Thetan Arena, and Revv racing as well. Other than these games, we have heavily invested in over 10 promising titles to come out. Cyball, Sipher, Bigtime games, Elpis battle just to name a few. Our scholars are very much looking forward to participating in those games too
Q — Telegram user Atur: I want to know how many games avocado guild offers to players on this platform? Can avocado guilds access the games of any blockchain? Can you also buy or sell products and elements of the game from any blockchain on a single platform?
A — Brendan from Avocado Guild: Avocado Guild currently offers 3 games to our scholars. Yes, our scholars can access games from other platforms. By Q1 next year we’ll offer over 6 games where our scholars can enjoy the game, we can educate them on the game and they can earn from the game. No selling at the moment
Q — Twitter user @Mary47229678: The three main values of the Avocado DAO project are Play2Educate, Play2Empower, and Play2Enrich. Can you please elaborate and explain to us these three aspects that Avocado DAO is aiming to achieve? How exactly will the project plan to achieve these feats?
A — Brendan from Avocado Guild: Play2Educate — Educate our players on the benefits of play2earn games as well as the opportunities in Crypto. We want to help them understand blockchain technology so they have a level of freedom when it comes to investing their token assets and understanding the opportunities in DeFi and what this decentralized technology actually has to offer.
Play2Empower — Through education, they will be empowered with knowledge. Not so much as we are just giving them $. Teach a man to fish and really feed him for a lifetime. We encourage them to learn and be educated, then share this knowledge with their family and friends who can benefit from a scholarship with Avocado guild or just benefit through understanding how blockchain works and the opportunities presented by blockchain gaming.
Play2Enrich — We want to align our goals with our scholars so they understand that what we are aiming to do is not to take advantage of anyone. We are here to help and support. We want to educate, provide but also build a strong community that can work together to help each other out and enrich the lives that they have. All of this is made possible through P2E and blockchain. When they understand that they are the first generation of web3 gamers and they understand the technology. Their lives and the lives of their friends and family can benefit.
Avocado DAO will aim to instill these 3 values across all our scholars so they understand that they’re just not so much as playing games for a living, but they’re actually learning new technology and connecting with like-minded people to form a community. That community is sheltered by Avocado DAO, and the DAO will protect and educate them and guide them to opportunities in Crypto via blockchain gaming. The DAO will continue to build out education programs that are effective, tech up on scholarship management scaling solutions so that we can provide more to many. tech up on game agnostic technologies and data analytics so that we can help our scholars
Q — Twitter user @crypto_Suman: I have been impressed by the fact that you provide help to vulnerable communities and launch humanitarian aid services. So, I would like to know, exactly how do you help these low-income communities? Can the platform users contribute in this section to help the community?
A — Brendan from Avocado Guild: Yes, one of the staking functions we are developing will allow the general community to join in the efforts of helping the underprivileged. Avocado DAO provides opportunities through lending NFTs to people to play games and earn $. There is no collateral on the user’s end, they just need to spend some of their time (2–3 hours a day max) and enjoy the game.
Then they can ask all the questions and receive training within the guild to help them earn more and understand the technology that allows all of this. The DAO arranges humanitarian relief efforts at least 2 times a month for offline events and does online webinars 2 times a month for online events. When there are natural disasters e.g. the current typhoon in the Philippines, the guild mobilizes and flies our scholars to the affected areas to provide on-ground relief efforts.
Other than providing opportunities to earn. We also support them in real life
Q — Telegram user Moeen: Many games are not that rewarding and it’s quite unfair for users who spend their important time playing the game, How have you thought of this issue?
A — Brendan from Avocado Guild: We only provide scholarships for games that the scholars have the ability to earn. If they can’t earn anything, then no point.
Q — Telegram user Dino Vasishtha: There are so many Play-to-earn games out there so how will you make users believe that Avocado Guild is here to stay for the long term?
A — Brendan from Avocado Guild: I am the founder of Avocado Guild and I can tell you we are here to stay and build up the space. There are more play2earn games than people realize, but not all of them are great titles. We look for the best titles with great earning opportunities and strong founders. Avocado Guild itself is supported by tier 1 investors in the crypto space and they have done their DD and homework on Avocado Guild and are aligned with what we are trying to achieve.
Q — Telegram user Amina Peter: Do we see you introduce Defi features to the users in the future? What is your target for non-crypto users? And How about attracting traditional Gamers into your platform for the expansion of your ecosystem?
A — Brendan from Avocado Guild: Yes, we will definitely introduce DeFi features in the future. We are currently already in talks with some strategic partners to see how we can introduce our community to their DeFi products.
Q — Telegram user Satish 💲: There is a big barrier for Non- Crypto users to play NFT games. How will you provide an absolutely seamless experience?
A — Brendan from Avocado Guild: We will have to educate the community on a better understanding of the blockchain and the different ecosystem chains on which the technologies are built. Barrier and friction to entry are huge issues, hence the need for guilds to guide and support the community. When we tokenize, we will develop a platform to try and reduce as much of the friction as we can for onboarding new users.
As the space matures, so will the technology and people’s understanding of the technology. We want to be able to onboard the first generation of web3 users.
Q — Ayeley from GAINS: What role will the token play in the Avocado Guild ecosystem?
A — Brendan from Avocado Guild: The token $AVG will allow Avocado Guild to transition into Avocado DAO. Avocado DAO will be governed by the $AVG token. The DAO aims to bring P2E opportunity to the masses, especially focused on southeast Asia. We want to onboard the new generation of web3 users and build the strongest and largest community that can make positive changes to their lives offline based on the activities that they do online.
All the future yield from the activities of the DAO will be eventually passed back down to token holders via staking. $AVG token holders will also be able to vote and propose on the governance of the DAO and what direction the DAO should head in after we’ve developed more tech.
Q — Telegram user Antonio González: I read that you are currently releasing your DAO tokens but I would like to know the main features of your governance? Will even players be able to intervene in your governance system? How many tokens must I have to participate in your DAO?
A — Brendan from Avocado Guild: The DAO AVG tokens will at first allow staking, vaults, and maybe even loot boxes for the holders to participate in. Over time we will build out proposal and governance technology for the token which will allow for basic governance e.g. where to provide relief etc or what syllabus to educate etc.
Eventually, the governance token holders can vote on technological development and upgrade as well as overall guild operations and directions.
Q — Ayeley from GAINS: Cool. Did you raise funds so far? If so, how did you handle them? And are you planning to do any future raises?
A — Brendan from Avocado Guild: About a month ago we closed our Series A raise. $18M USD was raised at post-money $218M valuation. Our round was led by Animoca Brands and QCN Soteria node. Three Arrows Capital, HASHED, BSC growth fund, Solana, Polygon, Algorand participated as well just to name a few.
We are using the funds to accelerate our scaling across multiple games. We have scaled faster and are currently larger than any of the other guilds. We are also building out technology to become more game and chain agnostic which will help with the management of such a large guild and also allow us to scale even further. We are currently hiring the best to join our team and help grow the ecosystem of such an exciting space. We are planning on doing an IDO (Initial Dex offering) before the end of the year.
Q — Ayeley from GAINS: How far along are you with your roadmap and what should we expect in the next weeks and months following the transition from Avocado Guild to Avocado DAO?
A — Brendan from Avocado Guild: We are on track to completing the roadmap of 2021. We are currently finalizing the backend scholar dashboard. We have developed technology that has allowed us to manage the claims and payment of game utility tokens at scale. We have invested in all the games that we wanted to get into. We have a superb community and the tech to manage the earning reports for the scholars within the community. For the next few months, our scholar dashboard should go live and we will begin integration with other games.
Once the $AVG token goes live we will look to release an attractive staking function as we work on proposal and governance smart contracts and other unique vaults which we have planned with our strategic DeFi partners. We will build up even more tech which will platform the way scholars are onboarded and allow for less friction in their participation in various games as well as track their earning, participation level, and ranking within the guild.
We have some exciting future tech as well, but would like to get a head start in those developments before we share them =)
Brendan, thanks for coming into our community, and taking the time to answer our questions. Do you have any final words for us? Where can we follow you to stay updated? — Ayeley Commodore-Mensah from GAINS Associates 🐋
Guys, we are here to improve the lives of many. At the same time build out the exciting space of play2earn. Games in this space are new and so are guilds. We are trying to work together with the games and gamers to build exciting new games that can integrate with unique economics that are rewarding for their players. Our project is here to benefit the community as a whole.
Thank you for everyone’s time today — Brendan from Avocado Guild