Q1 2023 Treasury Report & 2022 Recap

6 min readMay 16, 2023

Introduction

We would also like to welcome all Avocadians, both existing and new, to review our Recap of 2022. We have had significant developments as well as learnings with our content and questing platform from Q4 till Q1 of 2023 and are happy to share that with our community.

Looking back at 2022, it was a year full of learning and growth for Avocado DAO! Despite some seismic industry events that impacted the entire web3 landscape, we found plenty of opportunities to seize. Going into 2023, we’re confident that we can continue to drive user adoption forward and provide value to our users by building strong partnerships, providing valuable education, and nurturing vibrant communities!

Key Moments in 2022

Events

Throughout the year, we partnered with a variety of blockchain gaming initiatives and established industry leaders interested in harnessing Web3’s potential. Our focus was on creating durable partnerships, bolstering the Avocado DAO brand, and expanding influence by collaborating with an eclectic mix of blockchain gaming enterprises and Web2 innovators exploring Web3’s possibilities.

Our team attended key events such as Binance Blockchain Week, Consensus, NFT NYC, Korea Blockchain Week, and Token 2049, gaining valuable connections and insights. We delivered keynote speeches and participated in panels discussing GameFi adoption, web3 opportunities, digital asset transparency, and NFT recognition. During these events, we were able to share our thoughts on the trends that we observed as well as provide insight as to how traditional web2 companies can work with guilds. Tackling the issue of adoption is a community effort, and we’re observing a lot of action to integrate web3 in the development of next-generation games and services.

We also held community events in the Philippines and Indonesia, emphasizing Avocado DAO’s commitment to our top priority: our community. We aim to support and educate them on web3 benefits and opportunities. Learn more about our community outreach here.

Questing Platform

Since the closed Alpha launch of our questing platform in late 2022, other than implementing community-suggested improvements, we’ve also partnered with over 20 + different projects to offer over $45,000 of rewards for our users. Questing was launched as a means to better engage with our community and provide benefits to both our partners as well as Avocadians. We have seen tremendous growth on the questing platform, with over 15,000 questing users in January and February alone, as well as having expanded our questing partners to 22 with more on the way! As more partners come on board, our community will have access to exclusive quests and prizes unique to AvocadoDAO as well as more Merch and Rewards on our AvoShop. We will also introduce higher-tiered rewards for our elite questers as a way of rewarding our most active and loyal users!

Content Platform

Complementing our Questing Platform is Avocado’s Web3 Content Platform. It’s a research tool that lets users dive deeper into web3 projects in gaming, DeFi, and other blockchain topics. This platform is perfect for those who want to gain a deeper understanding of blockchain technology, using Web3 Games and NFTs as starting points to become more Web3 literate. A feature of our content platform is that users can generate their own content and interact with us and each other much like a forum, but better! We love getting real community feedback, and crowdsourcing information makes the content platform even more useful for users.

Game Scholarships

As we work towards developing our questing platform, we will continue to support our existing communities in Web3. We have been extensively testing upcoming games that we are partnering with. Some of you may even have been involved in playtesting with some of our team! Games such as BigTime, Phantom Galaxies, and Apeiron are now well into their alpha testing phases, and we look forward to sharing these games with our community once they are released! In the meantime, we would like to share some exciting games you can look forward to in our Partnerships update below!

Partnerships

Many of you would no doubt be familiar with this legendary fighting game. King of Fighters Arena (KOFA) is one of our latest partnerships, and we are stoked to be partnering with the developers of KOFA, MarbleX, in their journey into Web3. For the uninitiated, KOFA is a fast-paced , one on one fighter RPG where button mashers are punished, and those with quick wits and even quicker reflexes will prevail. Check out the KOFA info page on our content platform here.

Apeiron is undoubtedly one of the most interesting (and possibly the cutest?) Web3 games that we partnered with in 2022. Apeiron is a God-game, where Deck building meets real-time combat strategy with a side of Sims-esque sandbox-style god-simulation. Its genre-straddling nature, as well as its tri-token system makes it one of the more unique projects that we’ve come across in 2022. Not to mention, the adorable characters called “Doods” that you preside over. Read more about Apeiron on our content platform here!

Kingdom Story is a hugely successful mobile Web2 Strategy RPG hailing from Korean Game Development titans Softnyx (Gunbound, Rakion). In this game, you take charge as a general in the era of the Three Kingdoms and lead your armies into battle. We are stoked to be partnering with such legends in the Game industry, and we are looking forward to assisting with onboarding such a successful IP into its Web3 Iteration, Kingdom Story: Heroes War!

Phantom Galaxies is one for SciFi lovers. Set in the distant future, take control of your Mecha Starfighter to mine resources, explore the galaxy, and dogfight your way to galactic supremacy on this SciFi Action RPG developed by BlowFish Studios. With beautiful graphics, immersive gameplay, and rich lore, our play-testers thoroughly enjoyed the experience while also having the opportunity to earn ASTRAFER, the game’s Governance and Utility token. If we have to summarize the experience in a sentence, it would be “Gundam meets Ace-Combat meets No Man’s Sky in Web3”. Read more about Phantom Galaxies on our content platform here!

These are just a few of the partnerships that we formed in 2022, and through these partnerships we aim to bring entertainment and Web3 utility to our community, as well as supporting the development of Web3. It is an exciting time to be at the forefront of Web3’s development, and we look forward to updating the community with more partnerships in the coming months!

What to expect: Q2 2023 and beyond

As we look towards the future of gaming in 2023, we are excited about the potential for high-quality games to embrace Web3 technology. Many of the established players in Web2 gaming have recognized the value of Web3 and are actively exploring ways to integrate it into their products. We anticipate that this trend will continue, paving the way for a new era of innovative, blockchain-based games. For product development, we are strongly focused on our Web3 Content platform, and we will be working towards integrating features such as Digital User ID to ensure the veracity of quality users on our platform, as well as more integrations with our Questing Platform. On the partnership front, we are currently working closely with several promising titles, looking to launch in 2023. While we can’t give away too much yet, we are confident that such titles will be a quality addition to the roster of games that we currently support.

Treasury Overview

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 31st of March 2023, our Treasury stands at USD 24.8M.