Welcome back Avocadians! We’re pleased to share our Q3 Treasury Report. Our latest report aims to provide transparency on Avocado DAO’s finances and offer some insight into our current and future operations. We understand that there has been a lot of noise distracting builders over the last couple of months and we have taken appropriate steps to work in accordance with our current environment. As always, we appreciate our community’s support, and our mission to onboard users from web2 into web3 via blockchain gaming remains unchanged.
In light of the current situation (Nov 2022) — Avocado DAO would like to reassure its community that it is not at all directly affected by the recent FTX debacle, zero percent of our treasury was on FTX. We understand that this event might affect some of the partners we have invested in. We are in contact with those projects to ensure we can provide support if necessary. We are diligent about our capital deployment and are committed to building a better web3 ecosystem.
This Treasury Report is based on activities of the Avocado DAO Treasury up to the 30th of September 2022.
The Treasury comprises all assets of Avocado DAO and all earnings of those assets. Our investments, gains on sales of assets, and scholar earnings all fall within the operation of the DAO. As of the 30th of September, our Treasury stands at USD 25.5M.
Game tokens, NFTs, Web3 Investments
New partner game studios such as Reta Wars, Atmos Labs, Mighty Bear Games, and StarHeroes are designing innovative gameplay and tokenomics that create a sustainable gaming journey. Our partnership with Pro Gamer DAO (PGD) helps to expand our community and optimize performance in games such as League of Kingdoms. Our strategic partnerships with identity platforms Carv DAO and GameSwift facilitate new entrants to blockchain gaming to access the space more easily. Avocado DAO supports its partners through its strong community and deep web3 gaming experience to help steer these projects in the right direction for long-term sustainability and a buoyant GameFi sector.
Scholarship Program and Operations
We have expanded our scholarship programs with an additional two games within our guild, Genopets, and Evio.io. Given the current market conditions, we have steered toward the most rewarding games for our scholars, with a large number playing Axie Origins and League of Kingdoms (LOK) among other popular games.
We continue to foster strong relations with our community, something that has always been at the heart of what we do at Avocado DAO. Our community is engaged and thriving, as is reflected in our Discord channel which has further increased to almost 100,000 members, compared to 85,000 from our previous report. Our YouTube channel and Twitter also see good engagement and growth in terms of subscribers and followers.
Community is our paramount priority. The first iterations of our products are tested by our own Avocadian scholars to ensure that they serve the purpose intended. We work closely with many of our gaming partners to provide landscape insight and help build real products that have an impact. We encourage and open our ecosystem to our partners to connect with each other as we understand that great foundations are built during bear markets. We continue to provide transparency, as well as foster leaner yet stronger, dedicated scholarship communities to benefit from the next generation of web3 games.
Questing portal updates
We have been developing our Questing Portal to further reward our community and encourage new members to participate on the platform. This portal enables users to access quests and complete specific steps within various games and community tasks to win points or other types of recognition. These forms of activity are rewarding for Avocado DAO’s players and provide additional education, fun, and engaging interaction within community channels and active participation across different areas of our partner games. The current functions are the first iteration of what we intend to offer.
Avocado participates in a number of top-tier industry events. Recently, we were present at Korea Blockchain Week (Korea), during which our co-founder spoke on the importance of web3 gaming guilds. We attended Token2049 (Singapore) where we continued to expand our connections with industry experts and new projects. We also held events in the Philippines and Indonesia to promote the adoption of blockchain. During these events, we shared valuable insight and connected with industry peers. We met many of our community leaders and shared information about the journey from both management and scholar perspectives. We understand the positive impact we have had on their lives and the benefits of the education Avocado DAO has provided.
Avocado DAO stands by its bullish position on the prospects of web3 and blockchain gaming. While the volatility of the markets has had some bearing on how we have moved ahead, we have taken appropriate steps to pivot to accommodate market conditions as well as putting in place new steps as the gaming market picks up traction in the coming months. Our core principles and mission remain unchanged: We are a community focused guild on a mission to provide more to many through the fun of gaming — something we are passionate about and work towards with a long-term vision.
Unlock life-changing opportunities with Avocado DAO Tokens (AVG):
AVG can be found on Ethereum and BNB. The contract address is the same for both chains.
Smart Contact address: 0xa41f142b6eb2b164f8164cae0716892ce02f311f