Here's Playdex! This Philippine-based startup is a marketplace that allows you to rent NFTs for play-to-earn (P2E) games, starting with Axie Infinity. Now, they've just raised a $2M seed!

• Playdex's co-founders include Coins.ph co-founder Ron Hose and PayMongo co-founder Luis Sia, as well as former employees from Xendit, Coins.ph, Yield Guild Games and PayMongo.
• Over 40% of Axie Infinity players and 1M daily active blockchain players are in the Philippines.

Who cashed in? Philippine crypto exchange PDAX, OrangeDAO, Buko Ventures and several angels.

• 👼🏻: Justin Mateen (Tinder co-founder), Aaron Kemmer (Magic co-founder), Wing Vasiksiri (iSeed Ventures Founder), Nina Teng (CSVE Ventures Managing Partner), Yaw Yeo (XA Network Extended Leadership Team) and Ray Alimurung (Lazada Philippines Chairman).
• Yield Guild Games COO, Colin Goltra has also been roped in as an active advisor.

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🤨 Why it matters

If you want to play a P2E game, you have to have the in-game NFT asset, but these cost a ton of $$$. If you don't have the cash, you'll typically "borrow/rent" the NFT through a gaming guild as a "scholar" and pay them back by sharing your earnings from the game.

The issue. Usually, transactions for these NFTs are fragmented, informal and risky.

• If you're an NFT asset owner, you risk that a scholar may do something that leads to the asset getting banned, while scholars have to trust that the asset owner will pay the agreed percentage of earnings.

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👾 How it works

Asset owners. Forget recruiting and managing scholars! Just connect your NFTs to Playdex and set your price. Then, sit back, relax and watch your earnings come in.

Players and guilds. They've got tons of different NFTs! Just find the ones best fitting for you and start playing in a snap. Plus, you can change teams anytime!

• Individual gamers can start playing anytime for minimal $$$, opening the P2E world to even more people— not just scholars and people who can afford to buy an NFT. 🤯
• Guilds can focus on training and scaling their communities instead of spending tons of cash and time managing and investing in more gaming assets.

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💥 What's next?

Playdex will be using the new cash to double down on product, grow its community and expand to more play-to-earn games.