Playdex

Positioned within the burgeoning Web3 gaming sector, Playdex operates as an online marketplace facilitating the rental of gaming non-fungible tokens (NFTs). The company was established in 2021, with its founding officially announced in January 2022. The platform targets the play-to-earn (P2E) market by connecting NFT owners with gamers and organized player groups, known as guilds. This model allows gamers to access and utilize expensive in-game NFT assets without the significant upfront cost of purchase, thereby lowering the barrier to entry for P2E games. For NFT owners, the platform offers a channel for passive income by renting out their assets. Playdex's revenue model is centered on this rental marketplace, streamlining previously informal and fragmented asset-lending transactions into a structured platform.

Playdex was co-founded by a team with extensive backgrounds in the fintech and crypto industries of the Philippines. The founding members include Daniel Laborada, who serves as CEO and has experience as a senior software engineer at Xendit and as a P2E guild founder; Ron Hose, the founder and former CEO of Coins.ph; Thea Santos, who was Head of Operations and Marketing at Coins.ph; Bernadette Misa, a manager at Yield Guild Games and a P2E guild founder; Luis Sia, co-founder of PayMongo; Wesley Dela Cruz from PayMongo's growth team; and Eduard Iskandarov as Engineering Lead. This collective experience in payments, crypto-exchange operations, and P2E guilds underpins the company's strategic approach to the market. The company established its base in the Philippines, a strategic decision influenced by the country's significant engagement in the P2E space, which at one point represented 40% of Axie Infinity's player base.

In June 2022, Playdex announced a significant milestone, having secured US$2 million in a seed funding round. The round saw participation from prominent investors, including the Philippine cryptocurrency exchange PDAX, OrangeDAO, and Buko Ventures. Angel investors also contributed, such as Tinder co-founder Justin Mateen and Lazada PH Chairman Ray Alimurung. This capital was earmarked for accelerating product development, expanding its community, and integrating a wider array of games onto its platform. The platform facilitates the discovery of new games and provides features like tournaments and leaderboards to enhance player engagement.

Keywords: NFT rental, play-to-earn, P2E, blockchain gaming, gaming assets, metaverse gamers, player guilds, Web3 gaming, NFT marketplace, passive income, game finance, digital asset rental, crypto gaming, Ron Hose, Daniel Laborada, Thea Santos, Bernadette Misa, Luis Sia, Axie Infinity, Coins.ph, PayMongo, Xendit, Yield Guild Games