Yield Guild Games receives a new investment of four million dollars

Yield Guild Games (YGG) is a decentralized community of gamers and investors who generate income from NFT-based games. And it announced today that it has received a new investment of four million dollars.

They explained that through an explanation The investment was led by BITKRAFT Ventures, a corporation with a focus on games, e-sports and interactive media. Investors such as A. Capital Ventures, IDEO CoLab, Mechanism Capital and ParaFi Capital as well as existing investors, including Animoca Brands, Ascensive Assets and SevenX Ventures, took part in this round.

They also stated that investors include GGWP co-founder and CEO Dennis Fong; the CEO and founder of G2 Esports, Carlos Rodríguez; Trung Nguyen, CEO of Sky Mavis, and Jiho Zirlin, co-founder of Sky Mavis.

Yield Guild Games receives a new investment of four million dollars
Yield Guild Games receives a new investment of four million dollars

On the other hand, they said that The funds will be used to invest in play to earn NFT assets. and expand the YGG network by adding more players from around the world.

YGG aims to expand on the “play to earn” phenomenon popularized by cryptocurrency-based gaming, allowing players to monetize the time they spend in the game operating, renting and selling items.

As a community of players YGG invests in NFT assets in various games across the ecosystem and lends those assets to its gaming community for income.

At its core, YGG is a community of gamblers who play for money. Think of it as a large group of online multiplayers but active in multiple games, investing in NFTs that make profits within those games and lending the same in-game assets to our player base, ”said Gabby Dizon, co-founder of YGG .EIN

NFTs have been recognized for their usefulness in offering digital rights to participants in blockchain games and virtual worlds. Since they cannot be easily duplicated, NFTs solve the problem of replicas that has traditionally reduced the value of game assets.

– Games and virtual worlds are becoming a large basis for real economic activities and are increasingly being accelerated by blockchain technology. Yield Guild acts as a catalyst for this transition with very progressive ideas regarding the novel model of “play to earn”. What Gabby and her team are building is a glimpse into the future of work, ”says Jens Hilgers, founding partner of BITKRAFT Ventures.

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