Yield Guild Games Raises $4M in Series A Funding

 

Yield Guild Games (YGG), a decentralized gaming guild of players and investors who generate yield from NFT-based games, has announced that it has raised a $4M Series A investment led by BITKRAFT Ventures.

This round was joined by incoming investors including A.Capital Ventures, IDEO CoLab, Mechanism Capital, and ParaFi Capital, among others, and existing investors including Animoca Brands, Ascensive Assets, and SevenX Ventures. Angel investors include GGWP Co-Founder and CEO, Dennis Fong, G2 Esports CEO and Founder, Carlos Rodriguez, Sky Mavis CEO, Trung Nguyen, and Sky Mavis Co-Founder, Jiho Zirlin.

YGG is on a mission to accelerate the “play-to-earn” phenomenon that has been popularized by cryptocurrency-based games that enable players to monetize their time spent in-game by operating, leasing, and selling in-game objects. The funding will be used to invest in NFT assets of play-to-earn games and expand the YGG network by acquiring more players from around the world.

“At its core, YGG is a community of play-to-earn gamers. Think of it as a massively multiplayer online (MMO) guild, for example, but operating across several games, investing in yield-generating NFTs within those games, and lending those in-game assets and inventory out to our player base,” Gabby Dizon, co-founder of YGG, said.

“Games and virtual worlds are increasingly becoming hosts of real economic activity, enabled and accelerated at scale through blockchain technology. Yield Guild is serving as a catalyst to this transition with very forward-looking concepts around the novel play-to-earn game model. What Gabby and his team are building, the web 3 infrastructure stack they’ve assembled, is a glimpse at the future of work,” Jens Hilgers, Founding Partner at BITKRAFT Ventures, said.

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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