YGG SEA Acquires $15M Funding to Boost P2E Gaming in Southeast Asia
2022.04.27 10:31
YGG SEA Acquires $15M Funding to Boost P2E Gaming in Southeast Asia
- YGG SEA collects $15 million from two separate private sales.
- The proceeds will be used to boost P2E gaming in SEA.
- YGG and Infinity Ventures Crypto led the initial private sale.
Yield Guild Games Southeast Asia (YGG SEA), subDAO of the Philippines-based gaming startup YGG, has amassed $15 million in funding across two separate seed rounds. The secured funds will be used to boost the adoption of play-to-earn gaming primarily in Southeast Asian countries.
Furthermore, Yield Guild Games aims to bridge the gap between Web2 and Web3 through GameFi – aside from onboarding players as scholars. SubDAOs like YGG SEA are the core of YGG’s expansion strategy and the key to the community development of the entire ecosystem.
In detail, YGG and Infinity Ventures Crypto (IVC) led the initial private sale. Meanwhile, the follow-up seed round was attended by prominent names such as Crypto.com Capital, Animoca Brands, Poloniex, MindWorks Ventures, Circle, Sembrani Kigani, Jump Capital, Bukalapak, Polygon, Digital Currency Group, Hashed, Venture Management, United Overseas Ban Venture Management, Evernew Capital, Arca Funds, Yolo Ventures, OKEx Blockdream Ventures, Hashkey Group, LongHash Ventures, SevenX Ventures, Rise Capital, Morningstar Ventures, PetRock Capital, SweeperDAO, Dialectic, FBG Capital, DNC Ventures, and Emfarsis.
Meanwhile, Robby Yung, CEO of Animoca Brands, shared that as an investor in YGG, Animoca Brands backs the whole YGG SEA team, as well as its business model, and regional focus. He further said, “We believe YGG SEA will strongly contribute to onboarding players to blockchain across South East Asia.”
Moreover, Crypto.com Capital Managing Director Bobby Bao also showed his support for the project:
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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