Wednesday, August 25, 2021

YGG raises $4.6M from a16z to accelerate Play-to-Earn Gaming.

YGG Gizmo Manila

  Yield Guild Games (YGG), a decentralized gaming guild of players and investors who generate yield from NFT-based games, announced today it has raised $4.6M investment led by venture capital firm Andreessen Horowitz (a16z). The round, which was finalized prior to the YGG token sale on July 27, was joined by Kingsway Capital, Infinity Ventures Crypto, Atelier Ventures, and gaming entrepreneur Gabriel Leydon.

The funding will be used to continue YGG’s investment in digital assets in games and virtual worlds across the play-to-earn ecosystem, while expanding its global community of over 48,000 gamers, with more than half of the members residing in the Philippines. As a provider of scholarships to the game Axie Infinity, YGG’s player base can borrow its yield-generating in-game assets under a revenue-sharing model, so they can begin earning an income from playing NFT games without having to invest any money upfront. To date, YGG has 4,700 scholars, over 2500 of whom are Filipinos, in the game Axie Infinity that have earned over 43M SLP (US $8.6M).

YGG Token (As of Aug 24, 2021)
Launch: July 27, 2021
Launch Token Price: PHP 78/token
Current Toke Price: PHP 351/token
Market Cap Rank: #138
All-time High: PHP 437.93/token (Aug. 20)
All-time Low: PHP 48.59 /token (July 29)

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