Peerplays Blockchain Standards Association (PBSA), has today announced a significant contribution in an investment round in Avalon Meta, the Indian startup combining higher education and competitive gaming. Additional parties in the investment round include Chicago-based VC firm Purvi Capital, and Abhinav Chhikara, ex-Head of Design of ed-tech giant Unacademy.
Known worldwide as “the gaming blockchain” Peerplays’ role in Avalon Meta will be twofold. First, it will bring expertise in gamification; encouraging engagement and increasing usage. Second, the Peerplays blockchain will become home to the platform’s products, including specialized NFT’s (Non-Fungible Tokens) and an ecommerce type extension when launched.
PBSA President and Peerplays founder, Jonathan Baha‘i said:
“Working with Avalon Meta was a no-brainer for us. We immediately recognized the visionary approach Avalon was taking to disrupt education through gaming, all of it powered by the Peerplays blockchain. It’s exciting to join them on the forefront to help better educate this generation and those that follow while having fun. Just wish this was around when I grew up! Peerplays’ capabilities to handle the millions of users the education game could bring to Peerplays blockchain adds multiple benefits to the Peerplays DAC unseen to date in the blockchain industry.”
He went on to laud Avalon Meta’s parent company, Avalon Labs, for accumulating over 50 million impressions across its media footprint, growing a large and engaged online following, and attaining a 70% retention rate. Their popularity is evident in Telegram, with massive engagement of over 100,000 messages monthly.
Avalon Labs is also investing up to $250,000 in the new business, equity-free. “We’re big believers that the new age of education is going to be unlike any other,” said co-founder and president Varun Mayya. “Every dollar we put in Meta is equity-free, a sign of our faith in the future of the country.”