The Philippine startup Yield Guild Games (YGG) has closed a Series A funding round. The company has received $4 million, which it is going to invest in the development of the “play to earn” model in mobile blockchain games.
Photo: Yield Guild Games
YGG was founded at the end of 2020 by a group of players who decided to introduce as many people as possible to gaming NFTs.
Initially, the startup worked only with the Axie Infinity blockchain title, but then received support in such titles as The Sandbox, F1 Delta Time, League of Kingdoms and Guild of Guardians.
In fact, YGG is a community of gamers who play for the sake of earning money. Something like an MMO guild. We work in several games, invest in profitable NFTs there, and then lend these assets and inventory to other players.
Co-founder of Yield Guild Games
Now there are over 16 thousand people in the ranks of YGG. For comparison, in March it consisted of 2.5 thousand gamers.
According to Crunchbase, the current funding round has become the second for YGG. Just in early March, the startup received $ 1.3 million from investors, which the company also planned to spend on the development of gaming NFTs.
This time, the leader of the round was the Bitkraft Ventures venture fund. In addition to him , A. invested in YGG .Capital Ventures, IDEO CoLab, Mechanism Capital, ParaFi Capital. Also among the investors was noted Animoca Brands, which itself specializes in gaming tokens and last month raised $88.8 million.