Yield Guild Games Southeast Asia (YGG SEA), a sub-decentralized autonomous organization, has raised $15 million in two distinct private financing rounds. The blockchain gaming startup, Yield Guild Games (YGG/USD), will use the proceeds to enhance the adoption of play-to-earn gaming across the Southeast Asian nations.
YGG SEA to boost onboarding of players to blockchain
Infinity Ventures Crypto and YGG spearheaded the initial funding round. The follow-up round attracted participation from Animoca Brands, Crypto.com Capital, SevenX Ventures, Poloniex, MindWorks Ventures, Jump Capital, Circle, Digital Currency Group, Sembrani Kiqani (a fund by BRI Ventures), Hashed, Polygon, Rise Capital, Dialectic, United Overseas Bank (UOB) Venture Management, Bukalapak, Hashkey Group, Arca Funds, OKEx Blockdream Ventures, Evernew Capital, Yolo Ventures, FBG Capital, Emfarsis, LongHash Ventures, Morningstar Ventures, SweeperDAO, DNC Ventures, and PetRock Capital.
Robby Yung, the CEO of Animoca Brands, stated:
As an investor in YGG, Animoca Brands is a supporter of the YGG SEA team, its business model, and its regional focus. We believe YGG SEA will strongly contribute to onboarding players to blockchain across South East Asia.
YGG SEA is Yield Guild Games’ inaugural regional subDAO, catering to gamers from Indonesia, Malaysia, Thailand, and Vietnam. Because they know the area and connections, subDAOs such as YGG SEA has been at the heart of YGG’s global expansion plan. Establishing localized subDAOs is crucial to the ongoing YGG ecosystem’s development initiatives to expand swiftly and profoundly.
YGG Ecosystem serving as a gateway for Web2 community and Web3 environment
The purpose of the YGG Ecosystem is to onboard gamers as academics and serve as a gateway that connects the Web2 industry to the Web3 environment via GameFi. Through extensive internationalization and regional strategy in each region, YGG SEA has already been actively enrolling and establishing a safe environment for scholars to access Web3.
Crypto.com Capital Managing Director Bobby Bao said:
Crypto.com Capital is pleased to support the launch of YGG’s first ever subDAO — YGG SEA — in its private funding round. We believe that Southeast Asia will continue to be the largest market globally for play-to-earn operators, and that YGG SEA — with its operational expertise spanning from YGG and its in-country teams — will continue to hold the lion’s share of high-quality scholars in the region.
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