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Aditya Hadi Pratama · · 1 min readAndreessen Horowitz leads $4.6m round in the Philippines’ Yield Guild Games
Yield Guild Games (YGG), a blockchain-focused gaming startup based in the Philippines, announced it has raised US$4.6 million in its latest round.
More funding details
- Lead investor: Andreessen Horowitz (a16z)
- Other investors: Kingsway Capital, Infinity Ventures Crypto, Atelier Ventures, and gaming entrepreneur Gabriel Leydon
- Stage: Unspecified
More company updates
- The investment from Andreessen Horowitz, which was completed prior to YGG’s token sale last month, marks its first bet in a Filipino-led startup.
- YGG will use the fresh capital to continue its investments in digital assets in games and virtual worlds across play-to-earn ecosystems.
- The company said its platform currently has 4,700 “scholars” – players who borrow the company’s assets in the blockchain-based game Axie Infinity and earn an income under a revenue-sharing model. Those players have collectively earned over 43 million SLP tokens (worth around US$8.6 million).
- Overall, YGG has expanded its global community to more than 48,000 gamers, it said in a statement.
- Andreessen Horowitz itself has raised US$3.1 billion for crypto investments and has cryptocurrency exchange firm Coinbase and crypto wallet Phantom on its portfolio.
For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.
Editing by Miguel Cordon and Jaclyn Tiu
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