East Ventures Leads Pre-Employed Funding for Web3 Startup "Playground"

East Ventures and Mirana Ventures lead the pre-start funding of Playground, the Web3 platform Gaming and NFT from Singapore. This round was also followed by Arc Capital (private crypto funds affiliated with Pintu), James Z (Founder of Jambo), Adam Levinson Murali Abburi, Benjamin Zhu, as well as a number of senior executives from the company blockchain famous.

Managing Partner at East Ventures Koh Wai Kit says, "We support founder best in building long term business. We look forward to partnering with the Playground team to build the platform game and entertainment next generation for Web3 users."

Playground was founded to address the information gap in the Web3 era. The rapid growth of the project entertainment based blockchain often followed by fragmented information, such as subjective, out of date, or unreliable. This is considered to hinder the mass adoption of Web3, especially in the entertainment sector.

Regardless of his experience in blockchain, Founder & CEO of Playground Clinton Teh admitted to having difficulties in the discovery process, both looking for verification, and gathering information about the game Web3 and NFT with this concept of digital ownership and decentralization. Thus, Playground was built as one stop a platform that will bridge the information gap for all Web3 users with a focus on experience and legitimacy.

"We believe all users should be able to experience seamless pattern in studying his projects, from receiving factual information to experiencing firsthand game certain. Playground is uniquely positioned to address this issue with the team's deep understanding of Web3's diverse and dynamic content. Our vision is to be the trusted platform for all Web3 entertainment discovery," Clinton added.

Playground supported by founding team who has extensive experience in the world of Web2 and Web3, careers in various leading technology companies including Binance, Classpass, and Tencent, as well as involving decentralized autonomous organizations (DAO). Meanwhile, Clinton Teh previously led a number of strategic initiatives at Web3 and NFT.

Later, users can find trusted Web3 projects interactively, and can follow updates and achievements for new projects and Existing. In addition, users can interact and share ideas with the ecosystem and community on the platform.

Web3 Market

Web3 is one of the most popular technology trends in Indonesia. Its adoption is still in its early stages considering that a number of stakeholders are still exploring use case appropriate, especially those that can be adopted massively. 

Some that have been proven in Indonesia include crypto, NFT, and Web3 gaming. To illustrate, Emergen Research reports the global market value of Web3 is $3,2 billion in 2021 and is projected to reach $81,5 billion in 2030. 

Previous, venture capitalist Eddi Danusaputro once said that Web3 has great potential to be developed. It is just, use case Web3 has not been much and has not been able to solve daily problems, for example Smart contract or invoice financing with Blockchain.

"Actually, use case as Smart contract This has already been developed in Indonesia, but tractionit's not big yet. No disrespect toNFT or games, this will be a product that nice to have course, not for everyday. I firm believers, I really like Blockchain, unfortunately use case not much," he said recently.