Yield Guild Games, an online gaming guild, has raised $4 million to power its play-to-earn proposal in a Series A funding round. The funding round was led by Bitkraft, a venture capital company specializing in e-sports investments. Other blockchain and crypto-related companies also participated. The company plans to include more gamers in its activities with these new funds.
Yield Guild Games Raises $4 Million in Series A Funding Round
Yield Guild Games, an online gaming guild, has managed to raise $4 million in its series A funding round, according to a company blog post. The round was led by Bitkraft, an e-sports and interactive world venture capital fund. The funding round also saw participation from Atelier Ventures, Fabric Ventures, Greenfield One, IDEO CoLab, Mechanism Capital, ParaFi Capital, and Third Prime Capital.
With these funds, Yield Guild Games plans to further deepen its sponsorship of players. This will enhance its play-to-earn proposal. Yield Guild Game’s business model consists of putting the money behind players in profitable NFT-based games like Axie Infinity. In this way, gamers with little resources can benefit from their expertise in these interactive experiences, and investors also receive part of the profits made. Gabby Dizon, a co-founder of Yield Guild Games, stressed:
Our primary goal is to scale play-to-earn to millions of players around the world.
Yield Guild Games just had its seed financing round in March. Led by Delphi Digital, the Philippines-based company raised $1.3 million dollars at that time. Investors are becoming more and more attracted to these types of companies — ones that base their rewards on interactive worlds. However, only Axie Infinity has achieved 100K active users daily, a lot less than other traditional games. This makes them believe the play-to-earn movement has just started, and will keep growing over time.
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