Yield Guild Games (YGG) has recently completed its most recent funding round, which was led by venture capital firm a16z. Infinity Ventures Crypto, Atelier Ventures, Kingsway Capital, and gaming entrepreneur Gabriel Leydon were among the other major participants.
The $4.6 million investment will be used to expand YGG’s mission and impact through additional investment in NFT games and virtual worlds across the play-to-earn system. The partnership is for four years, with a two-year lock-up period and another two years of vesting.
a16z Ventures has previously funded other major NFT startups and sees untapped economic opportunities at the intersection of crypto and gaming. Marc Andreessen, co-founder of a16z, recently emphasized the importance of “permanently separating physical location from economic opportunity” in order to provide more people with better ways to make a living.
Arianna Simpson, a16z General Partner, believes that the use of play-to-earn games will open up a new world of potential and jobs for players, as it allows them to own the games they play, generate revenue, and, most importantly, build a better life.
Earlier this year, YGG raised $4 million in a Series A funding round led by BITKRAFT for play-to-earn initiatives. YGG is a key player in the blockchain gaming industry, assisting in the reduction of barriers to economic opportunity so that people from all over the world can have equal access.