YGG Japan Raises $2.8 Million to Boost Play-and-Earn Economy in Japan
After YGG SEA and Ola GG, another subDAO of Yield Guild Games - YGG Japan raised $2.8 million in a financing round to bring more gamers into the "Play-and-Earn" economy. Let's find out more!
What you need to know about YGG Japan's $2.8 million funding campaign
YGG Japan, a subDAO of Yield Guild Games (YGG) in Japan, secured $2.8 million in funding through an incubation round on July 5th. Notable investors include Infinity Ventures Crypto (IVC), Animoca Brands, Yield Guild Games, and YGG SEA. Other firms participating in the round include Akatsuki, double jump.tokyo Inc., CryptoGames Inc., Ariva Studios, Kiii, and Days.
To start off, YGG Japan is a subDAO of YGG established in March 2022. Instead of “play-to-earn”, the ambitious guild aims to bring Japanese gamers into the world of “Play-and-Earn”. With the recent funding, YGG Japan will build a gateway to introduce more Web3 games to all gamers in Japan. In fact, the startup will also invest in NFTs and token assets of popular blockchain games available in Japan and other countries.
“We at YGG want to play with Japanese gamers, earn rewards and provide them with the opportunity to learn about blockchain through games. Japan is one of the most popular IP gathering countries in the world. So, I feel that bringing these to the world as a Play to earn game is a dream for many people,” said Gabby Dizon, co-Founder of YGG, in a statement.
What's next for YGG Japan?
According to Mr. Tetsuya Fujiwara, co-Founder of YGG Japan, the guild is going to kick off a private round to raise more funds. On top of that, the team plans to exhibit the guild during the Tokyo Game Show from September 15th - 18th. Given that, YGG Japan is now looking to work with top Japanese game publishers and IP holders to raise awareness about blockchain games.
As Japan is the 3rd largest gaming market in the world, YGG's expansion into the country makes sense. Although there are tens of millions of gamers in Japan, only a small portion of them are playing blockchain games at the moment.