Venture capital firm A16z has led a $4.6 million funding round
in Yield Guild Games, a decentralized play guild specialized in
play-to-earn universes. The funding round also saw participation from
other companies. This investment will allow Yield Guild Games to keep
expanding its scholarship program and searching for new opportunities in
play-to-earn games.
A16z Invests in Yield Guild Games’ Play-to-Earn Bet
Yield Guild Games, a decentralized gaming guild, announced
Thursday it has completed a $4.6 million funding round led by famous
venture capital firm A16z. The firm also had the participation of other
companies, including Kingsway Capital, Infinity Ventures Crypto, Atelier
Ventures, and gaming entrepreneur Gabriel Leydon.
The gaming organization informed that the funding round was completed
before the launch of their YTT token on July 27. The deal included a
lock-up period for the purchased tokens of two years, and another period
of two years more for vesting, signaling that investors are interested
in the evolution of the company in the long run. The obtained funds will
be used to further expand the reach of Yield Guild Games’ action,
allowing it to invest in more NFTs in games like Axie Infinity, one of
its biggest focuses.
The guild has made a big bet in the play-to-earn field, a novel
gaming style that allows players to own part of their gaming gear,
obtaining benefits for their actions.
A16z Considers Gaming the Next Big Market
Arianna Simpson, one of the newest general partners of A16z,
considers gaming to be one of the most important investments to be made
right now. Simpson told CNBC last month this was a critical market for the venture firm. She stated:
That’s a category where we expect the next hundreds of millions, billions of users to come in through.
Simpson recognizes the strength that emerging markets have to power
this kind of endeavor. Regarding the recent investment in Yield Guild
Games, she stated:
There is a largely untapped economic opportunity in emerging markets
to provide jobs by building a virtual economy in the digital world. The
way we define a “job” is quickly evolving because of crypto and gaming.
Yield Guild Games has helped thousands of players to make steady
earnings that oftentimes surpass conventional job wages. Its scholarship
program provides NFTs for players to participate in these worlds,
splitting earnings between investors and players.
source link : https://news.bitcoin.com/a16z-leads-yield-guild-games-4-6-million-investment-round/
