Mobile-focused decentralised games guild Yield Guild Gaming has raised $4 million.
The round was led by Bitkraft Ventures. Other investors included A.Capital Ventures, IDEO CoLab, Mechanism Capital and ParaFi Capital, plus existing investors such as Animoca Brands.
Started in the Philippines during the 2020 COVID-19 outbreak, Yield Guild enables players to make money by playing and earning assets in blockchain title Axie Infinity.
Axie Infinity co-founders Trung Nguyen and Jiho Zirlin also participated in the round as angel investors.
A new way to work
The success of its play-to-earn approach has seen the guild expanding into other mobile blockchain games such as League of Kingdoms.
Yield Guild has also bought large numbers of NFTs in forthcoming games such as Guild of Guardians so it can grow its player base and earning opportunities.
"At its core, YGG is a community of play-to-earn gamers. Think of it as a massively multiplayer online (MMO) guild, for example, but operating across several games, investing in yield-generating NFTs within those games, and lending those in-game assets and inventory out to our player base,” said co-founder Gabby Dizon.
"What Gabby and his team are building, the web 3 infrastructure stack they've assembled, is a glimpse at the future of work,” added Bitkraft founding partner Jens Hilgers.
Bitkraft recently partnered with Delphi Digital to invest in blockchain games.
Mobile game publisher Animoca Brands raised $88,888,888 to further its investments into blockchain gaming.