Want to use an NFT but can’t afford to buy it? You’re in luck – a new company dubbed Playdex will soon allow you to rent an NFT or two for you to use as you please. The Philippine-based company has officially managed to raise $2 million in seed funding with PDAX, iSeed Ventures, and OrangeDAO participating.
Other investors in this round include the following:
- Buko Ventures
- Tinder co-founder Justin Mateen
- Magic co-founder Aaron Kemmer
- CSVE Ventures managing partner Nina Teng
- Lazada Philippines chairman Ray Alimurung
- XA Network extended leadership team member Yaw Yeo
Playdex is composed of heavy-hitters in the fintech industry: Daniel Laborada (ex-Xendit) as CEO, Eduard Iskandarov as Head of Engineering, Thea Santos (Coins.ph) as Head of Operations, Bernadette Misa (Yield Guild Games) as Product Lead, Wesley Dela Cruz (Paymongo) as Growth Lead, Ron Hose (Coins.ph founder) as Head of Product, and Luis Sia (PayMongo) as Head of Business Development. Colin Goltra of YGG is also taking an active advisory role.
Playdex is already active and running, and as it stands it allows Axie Infinity players to rent certain Axies at a set amount of SLP per day. This allows players to farm and gain experience in the game without having to shell out big money for the initial outlay of Axies, which is typically the biggest hurdle most people have in playing Axie Infinity.
Playdex is looking to expand to different play-to-earn games as well with their rent an NFT model, and already has Cyball, Genopets, Guild Of Guardians, Legends of Venari and Thetan Arena in the pipeline.