Yield Guild Games Raises $ 4 Million For Its Play-to-Earn Proposition – Bitcoin News

Yield Guild Games, an online gaming guild, raised $ 4 million to help realize its play-to-earn proposition in a Series A funding round. The funding round was led by Bitkraft, a venture capital firm specializing in esports investments. Other blockchain and crypto-related companies also participated. The company plans to use these new resources to involve more players in its operations.

Yield Guild Games raises $ 4 million in Series A funding

Yield Guild Games, an online gaming guild, has managed to raise $ 4 million in its Series A funding round, according to a blog post by the company. The group was led by Bitkraft, a venture capital fund for e-sports and the interactive world. Atelier Ventures, Fabric Ventures, Greenfield One, IDEO CoLab, Mechanism Capital, ParaFi Capital and Third Prime Capital also took part in the financing round.

With these funds, Yield Guild Games plans to further deepen the sponsorship of players. This will improve his play-to-earn proposition. Yield Guild Game’s business model is to put the money behind players in profitable NFT-based games like Axie Infinity. In this way, gamers with limited resources can benefit from their know-how in these interactive experiences, and investors also receive part of the profits made. Yield Guild Games co-founder Gabby Dizon said:

Our primary goal is to bring play-to-earn to millions of players around the world.

Yield Guild Games just had its seed funding round in March. Under the leadership of Delphi Digital, the Philippines-based company raised $ 1.3 million at the time. Investors are increasingly drawn to these types of businesses that base their rewards on interactive worlds. However, only Axie Infinity has reached 100,000 daily active users, far fewer than other traditional games. This leads them to believe that the play-to-earn movement has only just begun and will continue to grow over time.

Axie Scholarships and Their Impact

Yield Guild Games is one of the organizations promoting the play-to-earn concept in their country. Play-to-earn games are interactive experiences that reward the player with in-game currency that can be exchanged for money in the real world. However, these play-to-earn experiences come with significant entry costs. This is where organizations like Yield Guild Games come into play.

Yield Guild Games rent their NFTs to players and receive a portion of the profits they make by “farming” the games’ native currencies. This is known as a “scholarship,” and the demand for a place in these structures is rampant in countries like the Philippines and Venezuela. As one of the few games that managed to get an economy going, the Axie Infinity Scholarships are the most sought-after.

The actual impact of these play-to-earn games has been positive so far. These games have become a legitimate source of income in countries hit by Covid-19 restrictions and inflation this year. Players even have Bought Houses with this income. More games that introduce this type of economy are expected to appear in the future.

What do you think of Yield Guild Games’ Series A funding round? Let us know in the comments section below.

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