Yield Guild Games, a Philippines-based online gaming guild that allows players to earn cryptocurrency rewards, has raised $4 million in a Series A funding round led by BITKRAFT Ventures, a gaming, esports, and interactive media-focused venture capital investor.
New investors A Capital Ventures, IDEO CoLab, Mechanism Capital, and ParaFi Capital also participated in the funding round, along with existing investors Animoca Brands, Asensive Assets, and SevenX Ventures, according to a statement.
The company said it will use the fresh funding to invest in non-fungible token (NFT) assets of play-to-earn games and expand its network by acquiring more players globally.
The Series A funding round comes three months after Yield Guild Games raised $1.3 million in a seed funding round, which was mostly from crypto funds.
“At its core, YGG is a community of play-to-earn gamers. Think of it as a massively multiplayer online (MMO) guild, for example, but operating across several games, investing in yield-generating NFTs within those games,” said Gabby Dizon, co-founder of YGG.
SOUTHEAST ASIA DEAL MONITOR
DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia in the week beginning June 14.
|Startups||Headquarter||Investment Size||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry / Verticals|
|Carro||Singapore||$360,000,000||Series C||SoftBank Vision Fund 2||EV Growth||Automotive marketplace|
|Coinomo||Singapore||Vertex Ventures Southeast Asia and India||zVentures, Spartan Group, Leo Cheng, Turn Capital||Cryptocurrency exchange|
|Wavescan||Singapore||Seed||Silicon Solution Ventures||Koji Venture, she1K global, KK39 Ventures, Plug & Play Venture Group, Plug & Play Singapore, and Leave A Nest Singapore||Electronic manufacturing|
|Aevice Health||Singapore||$2,100,000||pre-Series A||Toho Holdings (Japan), Pureland Group Venture, Silicon Solutions Partners, AIP Ventures, SEEDS Capital||Wearables|
|Pace||Singapore||Venture Debt||Genesis Alternative ventures||Fintech|
|Oyen||Malaysia||$420,000||Seed||Hustle Fund,||Pet healthcare insurance|
|Finantier||Singapore||Seed||Global Founders Capital, East Ventures||Future Shape, Partech Partners, Taurus Ventures, Saison Capital, GMO VenturePartners, AC Ventures, Y Combinator, Genesia Ventures, Two Culture Capital||Open Finance|
|RPG Commerce||Malaysia||Series A||Vertex Ventures, Joseph Phua||Ecommerce|
|Oyika||Singapore||Yinson Holdings||EV / Transport|
|Yield Guild Games||Philippines||$4,000,000||Series A||Bitkraft Ventures||Animoca brands, A.Capital Ventures, Ideo CoLab, Mechanism Capital, and ParaFi Capital, Ascensive Assets, SevenX Ventures||Gaming|