The first-ever regional subDAO of GameFi heavyweights Yield Guild Games (YGG) has completed its strategic fundraising
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Yield Guild Games’s sub-decentralized autonomous organization (subDAO) is going to fuel the next wave of play-to-earn adoption in the South East Asian region with fresh funds from top-notch VCs.
Two private rounds, $15 mln raised: YGG SEA completes funding campaign
According to the official announcement shared by Yield Guild Games, its regional arm (‘subDAO’) Yield Guild Games Southeast Asia (YGG SEA) has closed its two-round funding campaign.
Our #YGGSEA partner @Fancybirdsio has launched its full game!
Start playing #FancyBirds with various new features on https://t.co/d2CubrESpJ, Android, or iOS app 🙌#WeAreSEA #WeAreYGG https://t.co/qc37a2GEOS
— YGG SEA (@yggsea) April 26, 2022
In sum, the platform has secured a whopping sum of $15 million after two private funding rounds. The round was co-led by YGG and Infinity Ventures Crypto.
Crypto.com Capital, Animoca Brands, MindWorks Ventures, Poloniex, Jump Capital, Sembrani Kiqani, Circle, Digital Currency Group, Hashed, Polygon, Bukalapak, United Overseas Bank Venture Management, Arca Funds, 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 also backed YGG SEA in its fundraising efforts.
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Robby Yung, CEO of iconic GameFi investors Animoca Brands, is excited by both the mission of YGG SEA and the progress it has achieved so far:
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
Bringing no-coiners to GameFi: What is Yield Guild Games (YGG)?
Crypto.com Capital Managing Director Bobby Bao highlights the crucial importance of South East Asia as a promising region for GameFi audience growth:
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
YGG Ecosystem, which includes its first-ever subDAO YGG SEA, is set to bridge Web2 and Web3 spheres in order to enlarge the audience of on-chain gaming.
It plans to achieve this goal through heavy localization and a grassroots level approach in each country, as stressed by the representatives of its parent entity, Yield Guild Games.