- Yield Guild Games (YGG), a blockchain gaming platform, raised $75 million in a funding round led by prominent venture capital firm, a16z Crypto.
- The funding round will support YGG’s mission to provide valuable products and experiences to the web3 gaming community, expand its offerings, and scale its user base.
- YGG also generated $13.8 million through a token sale from the YGG treasury led by DWF Labs to support the guild’s decentralization initiatives.
Yield Guild Games (YGG), a blockchain gaming company, has raised $75 million in its latest funding round, led by A16z Crypto, with participation from the likes of Coinbase Ventures and LG Technology Ventures. This is the largest-ever funding round for a blockchain gaming company and is a testament to the industry’s growth.
YGG is a decentralized gaming platform built on the blockchain, enabling players to own their assets and earn rewards. The platform’s partnerships with NFT games and ecosystems like Axie Infinity, The Sandbox, and League of Kingdoms put it at the forefront of blockchain-based game economies.
The platform uses a play-to-earn model, which allows gamers to earn tokens by playing games. These tokens can then be used to buy in-game items or traded for other cryptocurrencies. YGG has built a strong community of gamers and investors who believe in the power of blockchain gaming and its potential to transform the gaming industry.
YGG’s Decentralization Efforts
Additionally, as part of YGG’s decentralization initiative, the company has raised $13.8 million in a token purchase from the YGG treasury, led by DWF Labs, and participation from a16z Crypto, Galaxy Interactive, Sangha Capital Fund, Sanctor Capital, and David Lee.
DWF Labs is the investment arm of Digital Wave Finance (DWF), a leading high-frequency trading platform that trades spot and derivatives in over 40 crypto exchanges. DWF Labs has supported over 50 web3 projects and continues collaborating with top crypto exchanges such as Binance, ByBit, and many more.
As it seeks to support the founders who will build the future of web3, DWF Labs has committed to supporting YGG as part of its vision towards a blockchain-based economy through web3.
“Andrei Grachev, Managing Partner at DWF Labs, said, “We are confident that through this token purchase, YGG will continue to innovate and grow the blockchain gaming space as we provide support through this long-term partnership. We believe that blockchain has the potential to transform the gaming industry by enabling players to own their assets and earn rewards.”
YGG Transitions to Swiss Association Legal Framework
YGG established itself as a Swiss association in 2022 to employ a flexible, recognized, and nonprofit legal structure to cultivate a decentralized future for the guild. Token holders receive limited liability protection under being a member and have the power to vote on governance.
The token purchase by DWF Labs and other investors signals their confidence in YGG’s mission of empowering gamers through web3 gaming. The investment will support the progress of the guild’s initiatives as it aims to provide the web3 community with valuable products and experiences.
The future of gaming is in the hands of blockchain technology, and YGG is at the forefront of this revolution. The company’s play-to-earn model and decentralized platform put it uniquely positioned to drive change in the gaming industry. YGG’s success is a testament to the growth of the blockchain gaming industry, and it shows that investors are willing to support companies that are driving innovation and change.
