TPG Telecom and the Avocado Guild, a blockchain gaming business focused on the play-to-earn (P2E) model, have teamed up to allow customers to exchange their AVO DAO tokens for mobile data credits. AVO DAO is the native digital currency of the Avocado Guild. It will be utilized to incentivize players for their time and effort in playing blockchain games.
While commenting on the new partnership, Avocado Guild CEO and co-founder Brendan Wong said that the partnership contributes to the overall vision for Avocado Guild "to enrich our scholars' lives by allowing them to exchange the tokens for internet access."
The collaboration with the Avocado Guild, according to CEO Richard Tan of TPG Telecom, allows TPG Telecom to take a long-term approach toward participating in the blockchain digital economy. The TPG Telecom and the Avocado Guild will also introduce a pilot project, which utilizes the Avocado DAO and involves PSP Soteria Ventures (PSV) and QCP Capital, according to the announcement.
The new collaboration comes after Avocado Guild raised $18 million in Series A funding to help it grow its gaming services. The company will invest the cash to expand its technological know-how and transition to Avocado DAO, a decentralized autonomous organization.
The Avocado Guild is a blockchain gaming association that highlights the play-to-earn (P2E) business model. In this system, gamers profit from playing games rather than through the traditional microtransactions seen in most mobile and PC games. Players are rewarded with digital assets that have real-world value. These assets can be used to purchase in-game items or traded on secondary markets for cash.