NFT Evening NFT Evening
    Facebook Twitter Instagram Reddit
    NFT Evening NFT Evening
    • News
      • Collectibles
      • Crypto Art
      • Blockchain games
      • Metaverse
      • Music
      • Interviews
    • Guides
      • Top NFT Projects
      • Top Blockchain Games
      • NFT Marketplaces and Tools
    • Learn here!
      • What is an NFT?
      • How to keep your NFTs safe
      • NFT Glossary
    • NFT Calendar
      • NFT Drops
      • NFT Conferences
    NFT Evening NFT Evening
    News

    Home » News » Yield Guild Games Secures $4.5 Million from Funding Round Led by Legendary VC a16z

    Yield Guild Games Secures $4.5 Million from Funding Round Led by Legendary VC a16z

    By TheoAugust 24, 2021Updated:February 1, 20234 Mins Read
    Contents hide
    Details about the Deal
    Business Model
    Redefining “Jobs” in the Metaverse

    Play-to-earn gaming guild Yield Guild Games (YGG) announced a $4.5M investment round led by legendary venture capital firm Andreessen Horowitz (a16z). This brings up the total funding of YGG to accelerate play-to-earn and NFT games to $22.4 Million. 

    Founded in 2009 by Marc Andreessen and Ben Horowitz, Andreessen Horowitz (known as “a16z”) is a venture capital firm in Silicon Valley, California. The firm is known for its early bets on companies that are household names today. Its investment portfolio includes Facebook, Instagram, Twitter, Pinterest, Airbnb, Lyft, Stripe, Github, etc. 

    Yield Guild Games a16z
    YGG secured investment from legendary VC a16z that spotted companies like Facebook, Instagram and Twitter. Credit: Yield Guild Games

    Details about the Deal

    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 45,000 gamers. 

    The terms of the investment reflect both parties’ long-term commitment. A16Z purchased YGG’s token through a four-year deal with two years lock-up period and two years vesting.

    According to YGG, onboarding partners such as a16z will assist them in scaling their mission and impact. In parallel, the funds will make a difference in establishing play-to-earn as the next major innovation in gaming and dominant business model within the industry.

    Joining YGG and completing the investment round are Kingsway Capital, Infinity Ventures Crypto, Atelier Ventures, and gaming entrepreneur Gabriel Leydon. 

    Business Model

    Founder Gabby Dizon describes YGG’s model as a “community of play-to-earn gamers.” He says we can think of what they do as a “massively multiplayer (MMO) guild but operating across several games, investing in yield-generating NFTs within those games and lending those in-game assets and inventory out to their player base.”

    Yield Guild Game’s core business is to provide scholarships to Axie Infinity players. In this context, scholarships give players access to play-to-earn gaming where the high cost of NFTs was previously a barrier. To date, YGG onboarded 4,700 scholars, earning over 43 Million (#8.6 Million) SLPs.

    Yield Guild Games NFT Holdings
    YGG’s July 2021 asset and treasury report reveals its extensive token and NFT portfolio. Credit: Yield Guild Games

    According to the game’s July 2021 Asset & Treasury Report, YGG holds substantial positions at the following tokens: YGG, USDC, USDT, ETH, AXS and SLP. Moreover, YGG has a diversified portfolio of assets earning yield across SushiSwap, Yearn and Aave protocols. Finally, YGG owns over $10 Million worth of NFTs from gaming and metaverse projects. For example, Zed Run, F1 Delta, League of Kingdoms and Splinterlands.

    Redefining “Jobs” in the Metaverse

    Recently, fellow NFT games giant Animoca Brands also contributed to a $4 million investment round a couple of months ago. Additionally, in late July, YGG raised $12.5 million from a public token sale that sold out in 31 seconds. 

    So what exactly is making YGG stand among the sea of  NFT Projects?

    In a recent piece, a16z co-founder Marc Andreessen outlined the significance of “permanently divorcing physical location from economic opportunity” in order to provide more people with better ways to make a living.

    This is exactly what YGG achieved in the Philippines. Nearly $7.3 Million people lost their job because of the pandemic. Axie Infinity’s play-to-earn mechanism became a saving grace for Filipinos and a means to put food on the table. To illustrate, a competitive player can earn 200 SLP Daily, at $.18, that’s around $38. ​​This may not sound like much, but in the Philippines, this is already triple the minimum daily wage.

    A16z believes that “there is a largely untapped economic opportunity in emerging markets to provide jobs by building a virtual economy in the digital world. The way we define a ‘job’ is quickly evolving because of crypto and gaming. We’re just starting to glimpse what’s possible in this realm.”

    Join Our New "To The Moon" daily Newsletter

    Get our free, 5 minutes daily newsletter. Join 25,000+ NFT enthusiasts & stay on top 👊🌚

    Thank you!

    You have successfully joined our subscriber list.

    .

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    blockchain gameEsportsnft fundingYield Guild Games
    Previous ArticleEnjin Coin Value Hits New High, Experts Predict $3 Possible
    Next Article Walking Dead Sandbox Land Sale Ready to Go Live
    Theo
    • LinkedIn

    Theo is NFTevening co-founder. He has been in the digital marketing & Media industry for the past 7 years and is involved in several big publishing companies - Reaching 35Millions users monthly across 20 different countries. He is a nostalgic gamer, a Witcher-fan and a huge NFT-enthusiast !

    More great NFT Evening content:

    Doo-Key Dash: How To Make A High Score On the BAYC Game

    February 3, 2023

    Satvik Sethi Leaves Mastercard NFT Due to “Harassment” and “Distress”

    February 3, 2023

    Ebay Looks To Hire Web3 Staff For KnownOrigin NFT Marketplace

    February 3, 2023

    Coinbase NFT Pauses Creator Drops on its Marketplace

    February 3, 2023

    Steve Aoki x Stoopid Buddy Announce Web3 Stop-Motion Series

    February 2, 2023

    Crypto Companies Continue Layoffs, Downsizing way into Jan 2023

    February 2, 2023

    PROOF of Conference: Everything You Need To Know

    February 2, 2023

    Rug Radio PFP NFTs With Cory Van Lew Mint on Monday 6th

    February 2, 2023
    Latest NFT News

    Doo-Key Dash: How To Make A High Score On the BAYC Game

    February 3, 2023

    Satvik Sethi Leaves Mastercard NFT Due to “Harassment” and “Distress”

    February 3, 2023

    Ebay Looks To Hire Web3 Staff For KnownOrigin NFT Marketplace

    February 3, 2023

    Coinbase NFT Pauses Creator Drops on its Marketplace

    February 3, 2023

    Steve Aoki x Stoopid Buddy Announce Web3 Stop-Motion Series

    February 2, 2023

    Crypto Companies Continue Layoffs, Downsizing way into Jan 2023

    February 2, 2023

    PROOF of Conference: Everything You Need To Know

    February 2, 2023

    Rug Radio PFP NFTs With Cory Van Lew Mint on Monday 6th

    February 2, 2023
    Get The FREE Exclusive Report
    CLICK HERE

    NFTevening is the biggest website for NFT news. We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. Put simply, we are the best place for new and experienced non-fungible token fans — making content fun & accessible

    Privacy policy
    Terms and conditions

    Article Categories
    • Blockchain games
    • Collectibles
    • Crypto Art
    • Guides
    • Interviews
    • Metaverse
    • Music
    • News
    • NFT Marketplaces and Tools
    • Sponsored Content
    • Top Blockchain Games
    • Top NFT Projects
    NFT Calendar
    • Today’s NFT Drops
    • Upcoming NFT Drops
    • Solana NFT Drops
    • NFT Calendar
    • NFT Calendar : Add Your NFT Event
    Get In Touch
    • Advertise (Media Kit)
    • Collaboration and Press Releases
    • Job Opportunities
    • About Us
    • Contact Us
    NFT Beginners Guides
    • How to Sell NFT Art
    • How to Create NFT Art
    • How to Display NFT Art
    • How To Make Passive Income With NFTs
    • Best Crypto Wallet
    • Best NFT Coins
    • Best NFT Rarity Tools
    • What is a DAO ?
    • What Are Crypto Gas Fees ?

    Type above and press Enter to search. Press Esc to cancel.