Salad Ventures raises $13.5M to build GuildOS platform for P2E gaming
Salad Ventures raises $13.5M to build GuildOS platform for P2E gaming
The private token sale follows a previous seed round led by Multicoin Capital, making total funding to date $15.5M
It took us awhile, but we have finally closed our private token sale round:
I’m humbled to have gained the trust of all our investors who participated.
Our fundraising journey started from a Multicoin Capital led seed round in 2021, and Mable has been especially helpful and hands-on from the first day.
I’m also especially grateful to Kosmos Ventures, OSAZ, Rarestone Capital, Santiago, Jack Herrick and Matteo Franceschetti for doing a follow-on investment in this round from seed.
Special thanks also to Alex (Crossbeam Venture) who has kindly offered us the services of their PR firm on retainer. Also to JR (Multicoin Capital) and Jared (Rarestone Capital) who advised us on the release.
It is impossible to list all the investors who have invested in project, but do know that you have my full appreciation for your support.
A full list of our cap table can be found here.
Summary
Salad has come a long way since our early days as an Axie Infinity guild.
Here’s what we’ve been up to in the last few months:
Our team has now grown to over 20 full-time employees, with more than half based in Singapore
We have formed partnerships with 10+ games and projects
Our YouTube channel has now over 200k views and close to 3k subscribers
Telegram group has grown to over 1k members
Salad Academy has issued over 6k certificates
Salad Academy Updates
Our content and academy team has been focused on launching more courses with our game partners, and this has led to Salad Academy issuing over 6,000 certificates to students in under 3 months. The team is actively reaching out to more games to form content partnerships.
GuildOS Updates
Our product team has been working round the clock to extensively build and test GuildOS with scholars from Apollo Squad. The team is nearly done and we will soon be sharing some walkthrough videos with the public.
GuildOS now integrates with Axie Infinity and Pegaxy, two of the most popular games among guilds in the P2E space. Our HR team has also been using GuildOS to generate payrolls, onboard/off-board scholars, and make salary payouts, on a single dashboard.
The HR team saves at least 100 hours per week just by using GuildOS to manage Apollo Squad. As we add more modules to the Main Net, I believe the team can be much more efficient and productive.
Here are some screenshots from our Test Net.
We will be sharing more on GuildOS in the coming weeks.
Investments and Risk Management
One factor that differentiates Salad from the other GameFi projects is how we make investment decisions. Our newly-formed Venture team has built risk models that we use before deciding on whether to invest in a gaming project.
These models serve as a guide for our P2E strategy team, especially if we are sending scholars from Apollo Squad into the game. Learning from our experience in Axie Infinity, our models now include an exit strategy depending on our VaR (Value-At-Risk) and current prices of the utility tokens or NFT floor.
We are currently testing our models out with Pegaxy and will share more in the coming weeks.
What’s Next
As our product team continues to build GuildOS, our content team is also adding more programmes to Salad Academy and videos to our YouTube channel. Our team of community managers have also launched our community discord server, and will continue to grow membership there.
The management team is putting together the finishing touches to our white paper which will be shared initially with our existing investors before being made public.
Despite a soft market, the team is still cautiously optimistic that we will be able to launch our TGE in Q2 this year. Notwithstanding any major market movements or adverse events, our team is planning to launch an IEO with one of the major central exchanges.
We also have started talking to market makers. There are a few who have expressed interest in working with Salad for our IEO. We will continue to take advice from our advisors and investors before committing to a final decision on Salad’s TGE.
If you have any comments, questions or suggestions, please feel free to reach out to me via Substack or Telegram.