TCG Leads Ready Player DAO's Newest $10 Million Investment Round
The Chernin Group (TCG), a private equity firm based in Los Angeles, recently led a $10.2 million financing round for Ready Player DAO (RPD), a decentralized autonomous organization investing in the future of play-to-earn (P2E) gaming. RPD is now valued at $150 million.
This is not TCG's first venture into the web3 ecosystem, previously investing in OpenSea, Dapper Labs, Flipside Crypto, Zed Run, and more. They're also joined by industry powerhouses Hashed, 1kx, ConsenSys Mesh, Fourth Revolution Capital, Koji Capital, SterlingVC, and a host of influential angel investors.
RPD will use this fundraising opportunity to invest in emerging web3 gaming projects, expand its community through guild, scholarship, and e-sport teams, and provide educational and onboarding opportunities for the next generation of play-to-earn gamers.
"Digital ownership of your gaming assets will revolutionize the way players engage with platforms," Jonathan Moore of The Chernin Group said. "As these new primitives take shape, it's important to have partners that focus on enabling more players to participate in these ecosystems. TCG is excited to join RPD and support its mission of bringing web3 gaming to the masses."
Rohit Gupta of SterlingVC sees play-to-earn gaming as a way to onboard the next 100 million crypto users.
"Blockchain gaming will onramp the next 100 million users into crypto," Gupta said. "I'm excited to join Ready Player DAO to launch the next iteration of esports together with some of the smartest minds in metaverse and gaming."
RPD has already made significant investments in Axie Infinity, including Axies NFTs, land, and AXS, the platform's native token. It now looks to expand its web3 gaming catalogue, bolster content creation channels, and build the largest blockchain gaming DAO in the world.
"Koji is thrilled to join the passionate collection of experts in RPD," Jean-Luc Shorey of Koji Capital said. "Blockchain technology helps generate and distribute value within games more efficiently, generously, and equitably."
"The demographic for gaming is different to that of DeFi, and P2E is providing players with opportunities to earn and learn from a young age," he continued. "Koji is excited to watch this industry mature and grow alongside RPD."
With its newest $10.2 million investment, Ready Player DAO has established itself as one of the premier blockchain gaming leaders in the web3 space.