A16z Leads $4.6M Investment in Yield Guild Games

The funding will be used to invest in virtual worlds in the play-to-earn space.

AccessTimeIconAug 19, 2021 at 6:41 p.m. UTC
Updated Sep 14, 2021 at 1:42 p.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Decentralized gaming startup Yield Guild Games (YGG) has raised $4.6 million in a funding round led by venture capital firm Andreessen Horowitz (a16z), YGG announced Thursday.

  • Other participating investors included venture capital firm Kingsway Capital, Infinity Ventures Crypto, Atelier Ventures and the gaming entrepreneur Gabriel Leydon.
  • YGG describes itself as a "play-to-earn gaming guild." It allows gamers to earn tokens through blockchain-based economies.
  • Funding will be used by YGG to invest in digital assets in the play-to-earn games virtual world and to expand its community of over 48,000 gamers, said the firm in a press release.
  • “The intersection of crypto and gaming is one of the most exciting areas in tech today,” said Arianna Simpson, general partner at Andreessen Horowitz.
  • Simpson added YGG is at the center of the growing play-to-earn sector, "where more of the value is retained by the players and community, rather than the gaming platforms."
  • In August, YGG and cryptocurrency exchange FTX signed a sponsorship deal in which Axie Infinity players from developing countries will receive scholarship funds. The deal with FTX involves YGG loaning non-fungible tokens (NFTs) to players who cannot afford to buy their own, under a revenue-sharing agreement.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.