a16z Crypto Invests in Yield Guild Games, Raising $13.8M Through Token Purchase Round Driven by DWF Labs
In Brief
Yield Guild Games has successfully garnered $13.8 million aimed at bolstering its initiatives toward greater decentralization.
The token sale was spearheaded by DWF Labs, which operates as a multi-tiered web3 ecosystem with various products. digital asset Yield Guild Games (YGG) raised an impressive $13.8 million through a token purchase initiated by DWF Labs. This funding round saw participation from notable entities including a16z Crypto, Galaxy Interactive, Sangha Capital Fund, Sanctor Capital, and David Lee, the Executive VP at Samsung Electronics, who acted as an angel investor.
Yield Guild Games As highlighted in a press release, the new financial resources will help propel YGG’s commitment to its decentralization objectives. In alignment with its decentralization journey, YGG has now established itself as a Swiss entity, adapting to the Swiss association legal structure. This framework offers enhanced clarity and legitimacy, emphasizing that every YGG token holder qualifies as a member of the association, empowering them with genuine involvement.
Holders of YGG tokens benefit from limited liability protection, simply by being members, and gain the right to participate in governance voting.
DWF Labs, which led this funding round, represents the investment division of Digital Wave Finance (DWF), a high-frequency trading platform active in more than 40 cryptocurrency exchanges, dealing in spot and derivative markets.
In addition to offering diverse crypto trading options, DWF Labs also extends consulting services, cybersecurity solutions, audit procedures, debt financing, treasury management, and networking opportunities. Through strategic partnerships with NFT games and platforms such as Axie Infinity, The Sandbox, and League of Kingdoms, YGG is paving the way in the realm of blockchain-centric gaming economies. Our mission is to support YGG in broadening its offerings, including the Guild Advancement Program, which aims to connect more gamers and provide them with avenues for participation and rewards based on their gaming activities. Andrei Grachev, Managing Partner at DWF Labs, expressed this sentiment in a statement. smart contract The venture capital firm a16z Crypto took the lead in YGG’s fundraising round. Please remember that the content on this page is not intended as legal, tax, investment, financial, or any other type of advice. It's crucial to only invest what you can afford to lose and to consult with a financial advisor if you have any uncertainties. For more details, we recommend reviewing the terms, conditions, and support resources provided by the issuer or advertiser. MetaversePost is dedicated to delivering precise and impartial news; however, market dynamics can shift without prior notice.
Cindy, a journalist working with Metaverse Post, focuses on themes related to web3, NFTs, the metaverse, and AI, all while conducting interviews with key industry figures in the Web3 space. She has engaged with over 30 C-level executives, sharing their invaluable insights with readers. Originally hailing from Singapore, Cindy now calls Tbilisi, Georgia her home. With a Bachelor’s degree in Communications & Media Studies from the University of South Australia, she brings a decade's worth of journalism and writing experience to the table. decentralized gaming She also engages in press outreach, announcement sharing, and offers interview opportunities.
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