Yield Guild Games Southeast Asia (YGG SEA) has secured $15 million in funding from two private funding rounds, the Yield Guild Games’ sub-decentralized autonomous organization (subDAO) said in a press release on Tuesday.
Per the release, the Philippines-based blockchain gaming firm’s arm will use the new funds to bolster the adoption of its play-to-earn (P2E) gaming across Southeast Asian countries.
Big investors included Infinity Ventures and Animoca Brands
YGG and Infinity Ventures Crypto (IVC) led the funding round, with participation from several blockchain-focused investors including the venture arm of crypto exchange Crypto.com Capital and gaming provider Animoca Brands.
Others were MindWorks Ventures, Poloniex, FBG Capital, Jump Capital, Sembrani Kiqani (a fund by BRI Ventures), Circle, Digital Currency Group, Hashed, and Polygon.
Commenting on the financing round, Animoca Brands CEO Robby Yung said:
“As an investor in YGG, Animoca Brands is a supporter of the YGG SEA team, its business model, and its regional focus. We believe YGG SEA will strongly contribute to onboarding players to blockchain across South East Asia.”
YGG SEA is taking the lead as the subDAO from Yield Guild Games in the region, with efforts focused on gamers from Malaysia, Indonesia, Vietnam, and Thailand.
The YGG Ecosystem seeks to grow blockchain gaming in the region by providing a platform that bridges Web2 and Web3. GameFi is key to this and hence the need for committed development. YGG SEA is a founder member of the Asia Blockchain Gaming Alliance.
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