Yield Guild Game’s First SubDAO YGG SEA Raises US$15M in Private Rounds to Focus Exclusively on Southeast Asia
By : Nata Kesuma | Tuesday, December 14 2021 - 13:25 IWST
![Yield Guild Games Southeast Asia (YGG SEA)](https://eagle.industry.co.id/uploads/berita/detail/5000.jpg)
Yield Guild Games Southeast Asia (YGG SEA)
INDUSTRY.co.id - Yield Guild Games Southeast Asia (YGG SEA), the first regionally-focused subDAO from the decentralized blockchain gaming guild Yield Guild Games (YGG), has raised US$15 million across two rounds of fundraising to support adoption of play-to-earn gaming in Southeast Asia.
The guild will initially focus on Malaysia, Indonesia, Vietnam, Singapore and Thailand before expanding throughout the region.
A seed round was led by YGG and Infinity Ventures Crypto in August 2021. In November, an additional private round was led by Crypto.com Capital, Animoca Brands, MindWorks Ventures, Poloniex, Jump Capital and Sembrani Kiqani by BRI Ventures with participation from 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.
"Supporting contender brands and the ecosystem is the heart of Sembrani Kiqani. With so many Indonesians wanting to enter the metaverse, it was natural for us to partner with YGG SEA," said Marcel Lukman, Founding Partner of Sembrani Kiqani, a fund launched by BRI Ventures that targets early-stage startups in the direct-to-consumer (D2C) sector.
The funding will enable YGG SEA to deliver a targeted offering to the regional gaming community. The guild will focus on supporting locally developed play-to-earn games in each country and acquiring game assets for the benefit of the guild’s player base.
YGG SEA is led by Evan Spytma as CEO and co-founder with over 20 years of experience at games studios such as Unity Technology and Electronic Arts (EA). Joining Spytma as co-founders are Dan Wang, who previously headed up operations at Riot Games in China, and Irene Umar of Discovery Nusantara Capital, a gaming VC based in Indonesia.
“As we roll out across the world, subDAOs like YGG SEA are core to YGG’s expansion strategy as they have the local knowledge and networks. The team launching YGG SEA has deep experience driving tech adoption in the region and the demand for play-to-earn games throughout Asia is incredibly strong,” said Gabby Dizon, co-founder of Yield Guild Games.
SEA represents over 700 million people from 11 countries. It is also one of the most active crypto regions globally. In November, four of the top 10 countries for Metamask wallet usage were in SEA. Much of this activity was driven by Axie Infinity and other play-to-earn games as a way to supplement income during the pandemic.
“As the first YGG subDAO, we are pioneering the model for the benefit of some of the most active NFT nations in the world. While the Philippines has been the epicentre of the play-to-earn movement over the past year, demand is rising fast in other countries, and Southeast Asia is an incredibly diverse region. It’s critical to have teams like ours, with boots on the ground and an understanding of the local needs and cultural nuances, who can build the regional community from the ground up,” said Evan Spytma, CEO and co-founder of YGG SEA.
Read Also
Unveiling New Opportunities
President Jokowi Promotes IKN’s Investment Potential to Brunei…
Major Efforts By China's Sanya Cbd In Modern Financial Industry
Next-Generation 400GE IP Transport Network, Laying the Network Foundation…
Promoting Indonesian MSMEs to Go Global, Ministry of Foreign Affairs…
Today's Industry
![Totolink outlet. (Photo: Public Relation of Totolink)](https://eagle.industry.co.id/uploads/berita/small/5782.jpg)
Kamis, 11 Juli 2024 - 22:08 WIB
Totolink Strengthens Commitment to Innovative and Reliable Network Solutions for Indonesia
Marking a strategic step, Totolink Indonesia proudly announces the enhancement of its head office in Jakarta, located at Harco Mangga Dua Blok E No.28, Sawah Besar, Central Jakarta.
![The President Commissioner of Bersama Digital Data Centres (BDDC), Setyanto Hantoro (fourth right) and The President Director of BDDC, Angelo Syailendra (third right) during the BDDC JST1 Inauguration Ceremony in Jakarta on Wednesday (10/07/2024).](https://eagle.industry.co.id/uploads/berita/small/5781.jpg)
Kamis, 11 Juli 2024 - 19:03 WIB
BDDC Inaugurates JST1 TIER IV Data Centre in Jakarta to Strengthen Digital Infrastructure
Bersama Digital Data Centres (BDDC), an in-town data centre provider with interconnectivity and integrated digital systems, inaugurated its 5 MW Tier IV data centre facility, JST1 (Jakarta Selatan…
![The Board of Directors of PTT Global Chemical (GC) pose for a group photo after receiving the prestigious SNI (Indonesian National Standard) certification for its InnoPlus Polyethylene resin. (Photo: GC Public Relations)](https://eagle.industry.co.id/uploads/berita/small/5780.jpg)
Kamis, 27 Juni 2024 - 15:30 WIB
Global Chemical Achieves Prestigious SNI Certification for InnoPlus Polyethylene Resin
PTT Global Chemical (GC) is proud to announce its successful attainment of the prestigious SNI (Indonesian National Standard) certification for its InnoPlus Polyethylene resin.
![Financial Literacy](https://eagle.industry.co.id/uploads/berita/small/5779.png)
Rabu, 26 Juni 2024 - 22:47 WIB
The Importance of Financial Literacy
Financial literacy refers to the ability to understand and use various financial skills effectively, including personal financial management, budgeting, and investing.
![AI Technology](https://eagle.industry.co.id/uploads/berita/small/5777.png)
Senin, 24 Juni 2024 - 20:07 WIB
The Best AI of 2024: A Comprehensive Guide
Artificial Intelligence (AI) is rapidly changing the world, and 2024 is shaping up to be a year of significant advancements in the field.
News Comment