Earlier today, Yield Guild Games Southeast Asia (YGG SEA) announced that it has raised $15 million in two separate private investment rounds. The funding would be used to encourage play-to-earn gaming in Southeast Asian countries.
YGG SEA is a sub-decentralized autonomous organisation (subDAO) of Yield Guild Games, a blockchain gaming firm located in the Philippines (YGG). The initial investment was led by YGG and Infinity Ventures Crypto(IVC), according to a news statement shared with Coinjournal.
Crypto.com Capital, Animoca Brands, MindWorks Ventures, Poloniex, Jump Capital, Saembrani Kiqani (a fund by BRI Ventures), Circle, Digital Currency Group, Hashed, Polygon, Bukalapak, United Overseas Bank (UOB) Venture Management, and Arca Funds led the second fundraising round.
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 are among the other investors in this round.
YGG SEA is Yield Guild Games’ first regional subDAO, and it will promote play-to-earn gaming in Malaysia, Indonesia, Vietnam, and Thailand. Bobby Bao, Managing Director of Crypto.com Capital, also expressed his excitement about YGG SEA’s achievement.
YGG SEA said that it is dedicated to promoting regionally produced play-to-earn games. It will also prioritise the acquisition of NFTs that are specifically tailored to the demands and interests of SEA’s player base.
Furthermore, YGG SEA will assist in the globalisation of locally produced play-to-earn games. YGG SEA, like its parent company, intends to integrate the Web2 community into the Web3 realm through GameFi.
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