Yield Guild Games (YGG) has just closed its latest funding round, this time led by venture capital firm a16z. Other key players include Infinity Ventures Crypto, Atelier Ventures, Kingsway Capital, and gaming entrepreneur Gabriel Leydon.
The $4.6 million in funding will be used to expand YGG’s mission and impact by further investing in NFT Games and the virtual world’s gaming revenue system. The partnership is a four-year deal with a two-year lock-up period and an additional two-year vesting period.
Venture capital firm a16z has previously funded other major NFT startups and recognizes the untapped economic opportunity that exists at the intersection of cryptocurrency and gaming. a16z co-founder Marc Andreessen recently outlined the implications of “permanently separating physical location from economic opportunity” in order to provide a better way for more people to earn a living.
Arianna Simpson, General Partner of a16z, believes that the use of gaming will open up a new world of potential and work for players as it allows them to take ownership of the games they play, generate income, and most importantly build a better life.
Earlier this year, in a Series A funding round led by BITKRAFT, YGG raised $4 million for the Game Money initiative.YGG plays a pivotal role in the blockchain gaming industry, helping to reduce barriers to economic opportunity and enabling equal access to people from all over the world.