YIELD GUILD GAMES RAISES $4M TO ACCELERATE PLAY-TO-EARN GAMING

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

The round also attracted participation from new 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. 

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.

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. 

As a player community, YGG invests in NFT assets in different games across the ecosystem and lends these assets out to its community of gamers to make it possible to earn an income from playing games.

Gabby Dizon, co-founder of YGG, commented: “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.”

Jens Hilgers, Founding Partner at BITKRAFT Ventures, added: “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.”

Want to learn more about the world of play-to-earn gaming? Check out the documentary below.