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YGG SEA Raises $15 Million from Top Investors to Foster Play-to-Earn Gaming Growth in Southeast Asia

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With the backing of Crypto.com Capital, Animoca Brands and other heavyweights, YGG SEA is all set to bolster the regional P2E gaming ecosystem

Taipei City, Taiwan–(Newsfile Corp. – April 26, 2022) – Yield Guild Games Southeast Asia (YGG SEA), a sub-decentralized autonomous organization (subDAO) of the Philippines-based blockchain gaming startup Yield Guild Games (YGG), has secured $15 million across two different private funding rounds. It will use the proceeds to boost the adoption of play-to-earn gaming in Southeast Asian countries.

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While the initial round was led by YGG and Infinity Ventures Crypto (IVC), the follow-up round saw participation from Crypto.com Capital, Animoca Brands, MindWorks Ventures, Poloniex, Jump Capital, Sembrani Kiqani (a fund by BRI Ventures), Circle, Digital Currency Group, Hashed, Polygon, Bukalapak, United Overseas Bank (UOB) 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.

Animoca Brands CEO, Robby Yung commented, “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.”

YGG SEA is the first regional subDAO of Yield Guild Games, focusing on players from Malaysia, Indonesia, Vietnam, and Thailand. The subDAOs like YGG SEA are at the core of YGG’s expansion strategy across the world as they have the local knowledge and networks. To expand quickly and deeply, having regional subDAOs is key to the community development of the overall YGG ecosystem.

In YGG Ecosystem, the goal is not just to onboard players as scholars; but also to be the bridge that brings the Web2 community into Web3 space through GameFi. YGG SEA has been aggressively onboarding and creating a safe space for scholars to enter Web3 through heavy localization and a grassroots level approach in each country.

Other than community development, YGG SEA is committed to supporting locally developed play-to-earn games within the region and acquiring NFTs that are uniquely suited to the needs and interests of SEA’s player base. It is also helping locally developed play-to-earn games go global.

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,” said Crypto.com Capital Managing Director, Bobby Bao.

Its parent DAO, YGG, is a community of play-to-earn gamers. YGG operates like a guild, acquiring yield-generating virtual assets across several play-to-earn games, and lending those assets to players who can’t afford them. Players, in turn, share a fraction of the in-game rewards with YGG.

About YGG SEA

YGG SEA, the first subDAO of Yield Guild Games, is a decentralized autonomous organization for acquiring and managing NFTs used in the metaverse. Its mission is to create the biggest and most sustainable play-to-earn virtual economy in Southeast Asia. YGG SEA is a founding member of the Asia Blockchain Gaming Alliance.

Media contact: Dominick Steer, [email protected]

For more information, visit: Website | Twitter | Discord | Telegram

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121738

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry

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Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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