YGG SEA Raises $15m In Private Funding To Foster Play-to-earn Gaming Adoption And Development Across Southeast Asia

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YGG SEA Raises $15m In Private Funding To Foster Play-to-earn Gaming Adoption And Development Across Southeast Asia

Yield Guild Games is a big name in the blockchain gaming and gaming guild industry vertical. Its subDAO Yield Guild Games Southeast Asia (YGG SEA) has secured $15 million in funding through two private rounds. It is another example of how strong the momentum of play-to-earn gaming is in that part of the world.

The Growth of YGG SEA

The concept of blockchain gaming gained traction due to ongoing success in Southeast Asia. Top titles like Axie Infinity and Splinterlands can change lives in countries like the Philippines. People can make more playing P2E games than from working traditional jobs, creating an exciting paradigm. Yield Guild Games, the blockchain gaming startup and gaming guild, acknowledges momentum keeps brewing across Southeast Asia.

After setting up the Yield Guild Games Southeast Asia subDAO, the team began making inroads in bringing play-to-earn gaming to SE Asia. The recent two private funding rounds, yielding a combined $15 million, will play a key role in these proceedings. The first regional subDAO of Yield Guild Games primarily targets Malaysia, Indonesia, Vietnam, and Thailand.

Yield Guild Games aims to strengthen its influence worldwide. Doing so requires using regional subDAOs, as they have the local knowledge and networks to bring P2E gaming to local markets. Moreover, it strengthens the role of every community member, as they directly contribute to growth. Through the subDAO, enthusiasts can apply for scholarships to access play-to-earn games without investing. Moreover, it is a tangible way of bringing Web2 users into the Web3 space.

Furthermore, the YGG SEA subDAO commits to supporting locally developed play-to-earn games. That gives new opportunities to local developers to explore the potential of blockchain technology and NFTs. In addition, the subDAO acquires NFTs tailored to the needs and interests of the SEA player base. Grassroots efforts like these can bring P2E gaming to millions of players in the coming years.

Substantial Investor Support

The two private funding rounds by YGG SEA confirm that investors notice these ventures. Southeast Asia has always been a good market for blockchain and crypto projects. It is plausible to assume that play-to-earn gaming will continue to turn heads in that part of the world.

The funding rounds noted strong support from Yield Guild Games and Infinity Ventures Crypto. In addition, the list of investors grew substantially thanks to participation from Crypto.com Capital, Animoca Brands, Poloniex, Circle, polygon, OKEx Blockdream Ventures, SevenX Ventures, and Morningstar Ventures, and many others. Global support from investors is crucial and shows play-to-earn gaming is here to stay.

Crypto.com Capital Managing Director Bobby Bao comments:

"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.”

All proceeds from these rounds will be used to boost the adoption and development of P2E gaming across Southeast Asia. YGG SEA is also a founding member of the Asia Blockchain Gaming Alliance.

 

Source: YGG SEA Raises $15m In Private Funding To Foster Play-to-earn Gaming Adoption And Development Across Southeast Asia