New gaming guild Bayz has today announced the closing of its $4 million seed funding round.
While the lead investor was Yield Guild Games, other investors included Valor Capital, Ascensive Assets, Fabric Ventures, Arca, and more.
Crypto investors Bitkraft and Delphi Digital also participated, along with angel investors Sebastien Borget (The Sandbox), Aleksander Larsen and Jeff Zirlin (Axie Infinity), and Nickev (RumbleKongs and reNFTLabs).
Bayz is looking to bring play-to-earn games to Brazil, and co-founders Matt Rutledge and João Borges plan to use the recent funding to actively invest and partner with leading blockchain game developers.
"With the growth of NFT and blockchain-based gaming, we knew that we had an incredible opportunity to bring the play-to-earn platform to those who need it most,” said Rutledge.
"By building out our content pipeline and infrastructure, we’re committed to creating the resources needed to help gamers learn about the power of play-to-earn and help onboard them into the metaverse."
Bayz will allocate a portion of funds to a community fund as, being a community-owned company, it uses a DAO structure and will allow its community to determine how to use said funds with consideration for social impact.
"We believe in the power of blockchain technology and its ability to help players elevate themselves and make their passion their job and we thank our investors for believing in our vision. Bayz has an important role in revolutionizing the gaming industry and positively impacting the lives of millions of people starting with Brazil," said Borges.
Yield Guild Games (YGG) co-founder Gabby Dizon commented, “Bayz's vision to educate players in blockchain gaming and to develop the play-to-earn ecosystem in their region is aligned with YGG’s mission of onboarding more people into the Metaverse with play-to-earn.
"With Matt and João’s expertise in the Brazilian community and mobile gaming esports, we believe that this partnership with Bayz will allow us to provide more value and create a bigger impact for the community."
Tamatem Games also recently raised $11 million in a Series B funding round led by Krafton, with other participants including VentureSouq and Endeavor Catalyst.