PlayDough Technologies secures £1.5m seed investment led by Westridge Markets
Westridge Markets led the seed round for the blockchain gaming platform.
PlayDough Technologies is a blockchain gaming platform that creates an inventory of gaming assets to enable community members to generate yield. The firm operates across more than 30 countries.
PlayDough Technologies has secured £1.5m in seed funding led by Westridge Markets. The capital will support the company as it expands its operations within the blockchain gaming and NFT sector.
The London based startup has experienced rapid growth since its inception earlier this year, building a community spanning more than 30 countries. PlayDough operates an investment portfolio of gaming assets alongside a remote network that allows users to generate yield.
Lead investor Westridge Markets brings proprietary trading expertise and an in-house venture arm to the partnership. The financing transaction highlights growing institutional interest in the intersection of gaming, decentralised finance, and digital assets.
From the founder
"PlayDough has been a journey of blitz scaling since inception. It has only been a few months and we already have active community members in over 30 countries. Gaming seems to be achieving the borderless ideals of crypto at full speed. We have started with the most advanced play-to-earn game, Axie Infinity. While building a community around PlayDough has been satisfying, the ability to look at play-to-earn as a yield generation strategy has also been a motivator for the trader in me. We have built valuation models, breeding strategies and training programs for our community to be able to generate the highest yield possible. While Axie being the most advanced game in the play-to-earn space remains the focus for PlayDough, it has already started building inventory in emerging games from Sorare to Gods Unchained. Star Atlas on Solana and Moonray on Stacks are showing early signs of a cross chain universe that PlayDough is planning to build on."
Mehul Khati
Co-Founder at PlayDough Technologies
Investor perspective
"Connecting gaming, collectibles, metaverses and de-fi, we think that PlayDough is building at the intersection of four of the strongest trends in blockchain space. With such a tailwind for the start-up and a founder we have known to be curious, persistent and innovative over many years of association with him, we are super excited about our investment and the future of PlayDough. We will continue to support the start-up through our network and ideas."
Shamyl Malik
Managing Director, Westridge Markets
Use of funds
- 01Scale operations
Investors
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About the company
PlayDough Technologies
PlayDough Technologies builds a blockchain gaming platform for the play-to-earn economy.