Yield Guild Games Southeast Asia (YGG SEA) has raised $15 million in two separate private investment rounds. YGG SEA, a sub-DAO of the YGG, will use the funds to promote P2E gaming in Southeast Asia. YGG and Infinity Ventures Crypto (IVC) led the first round. Crypto.com Capital, Animoca Brands, MindWorks Ventures, Poloniex, Jump Capital, Sembrani Kiqani, Circle, Digital Currency Group, Hashed, Polygon, Bukalapak, United Overseas Bank (UOB) Venture Management, Arca Funds, Evernew Capital, OKEx Blockdream Ventures, Yolo Ventures, SevenX Ventures, LongHash Ventures, Hashkey Group, Morningstar Ventures, Rise Capital, Dialectic, SweeperDAO, PetRock Capital, DNC Ventures, FBG Capital and Emfarsis.
YGG SEA has employed a grassroots strategy and extensive localization in each region. It is on a mission to aggressively onboard and create a safe space for scholars to access Web3. As part of its commitment to promoting local play-to-earn games, YGG SEA has purchased NFTs that are specifically tailored to the requirements and interests of SEA’s player base. Thus, the funds will make a substantial contribution to the company’s ability to realize its objectives.
YGG SEA’s parent DAO, YGG, is a community of gamers who engage in P2E activities. Play-to-earn games like YGG work like a guild, lending virtual assets to players who can’t afford to buy them themselves. In return, players give YGG a cut of the in-game winnings.
Animoca Brands CEO Robby Yung commented, “As an investor in YGG, Animoca Brands is a supporter of the YGG SEA team, its business model, and its regional focus.”
About YGG SEA
A subsidiary of Yield Guild Games (YGG), YGG SEA is the Philippines-based company’s first subDAO. When it comes to metaverse-related NFTs, YGG SEA is a force to reckon with in the market. Its goal is to build Southeast Asia’s most robust and scalable play-to-earn virtual economy. It’s not just about bringing gamers into the fold as scholars; it’s also about bringing the Web2 community into the Web3 environment via GameFi.