Heaptalk, Jakarta — Playground, a new platform dedicated to Web3 Gaming and NFT discovery, has completed its oversubscribed pre-seed funding round with an undisclosed amount co-led by East Ventures and Mirana Ventures. The company will allocate its injection to overcome the gap in the Web3 information problem.
This round is also supported by other notable institutions and angel investors, spanning the global private crypto fund Arc Capital; James Z as Jambo’s Founder; Adam Levinson and Murali Abburi from Graticule Asset Management; Benjamin Zhu from Azure Tide digital asset firm; and senior executives of well-known blockchain technology companies.
Partner at Mirana Ventures, David Toh, affirmed, “We are delighted to back Playground and share the team’s vision and philosophy on building the future of Web3 discovery. We believe Playground’s focus on users, experiences, and legitimacy will be a key lever in growing Web3 entertainment adoption in the future.”
The establishment of Playground is intended to overcome Web3 Information issues as the massive gap in the discovery process for both new and seasoned users. The problems came from the rapid growth of blockchain-enabled entertainment projects and the presence of fragmented information that is frequently subjective and unreliable. Thus, the completion of Playground’s pre-seed investment will be allocated to unlock mass adoption of Web3 entertainment opportunities.
The Founder and CEO of Playground, Clinton Teh, shared, “Despite being experienced blockchain users, our excitement for the new paradigm of digital ownership and decentralization in Web3 entertainment has been tempered by frustration in the discovery process, where we have met with great difficulty in sourcing, verifying, and aggregating information on Web3 gaming and NFT projects. We believe that all users should have a seamless experience in learning about projects in the space, from factual information to the actual of a particular game or interactive experience.”
Addressing this primary issue, the Playground is an independent, one-stop platform that bridges the information gap for all users in Web3 entertainment, with a laser focus on legitimacy and experiences. Users will be able to discover all aspects of trusted Web3 entertainment projects interactively and keep abreast of updates and milestones for new and existing projects. On the other hand, customers can also engage with ecosystems and communities in debate and discourse on a neutral battleground in a burgeoning and rapidly evolving space where experimentation and new ideas abound.
“At East Ventures, we back the best and brightest entrepreneurs that build businesses for the long haul. We look forward to partnering with Playground’s team to build the next-generation gaming and entertainment platform for Web3 users.” Managing Partner of East Ventures, Koh Wai Kit, said.
The founding team of Playground has extensive experience across both Web3 and Web2, with backgrounds in investments, strategy, product, technology, and growth in leading companies, including Binance, Classpass, and Tencent, as well as involvement in various decentralized autonomous organizations (DAOs) focusing on content creation, digital-first brands, and Web3 gaming. Playground’s founder, Clinton Teh, previously led several strategic initiatives in Web3 gaming and NFTs for Binance’s decentralized chain and was also part of the investment team.
“We believe Playground is uniquely positioned to tackle the Web3 Information Problem given our team’s deep understanding of the nuances around Web3 entertainment content, which is multi-faceted and dynamic. Our vision is to be the leading trusted platform for all Web3 entertainment discovery,” concluded Clinton.
