YGG Signs Memorandum of Understanding With Animoca Ventures
Nov 14, 2022
HONG KONG - November 14, 2022 - (Newswire.com)
Hong Kong-based leading web3 ecosystem builder and investor Animoca Ventures and decentralized blockchain gaming guild Yield Guild Games (YGG) have signed a Memorandum of Understanding under which they will work closely together to seek out and support leading web3 companies, thereby growing the web3 ecosystem.
The MoU envisions a collaborative effort coupling the global infrastructure of Animoca Ventures with YGG's expertise and influence in the NFT and blockchain gaming to create significant synergies in both investment and business areas, enabled by the following activities:
▲ collaborating in the identification of promising blockchain investment opportunities.
▲ sharing of data and domain knowledge of blockchain market trends.
▲cooperating on growth-driving strategies for portfolio companies and related businesses.
YGG is already a portfolio company of Animoca Brands, the parent company of Animoca Ventures, who invested in YGG's $1.325M seed round led by Delphi Digital in 2020 and again in YGG's $4m Series A led by Bitkraft in 2021. They have worked collaboratively together on several projects within Animoca's metaverses, including The Sandbox and Axie Infinity. As of this release's date, the YGG network is present in eight regions, having implemented its subDAO model across Southeast Asia, Brazil, India, Korea, Japan, Turkey, Central and Eastern Europe, and Hispanic communities globally.
Commenting on the MoU, YGG co-founder Gabby Dizon said, "YGG is proud to work closely with Animoca Ventures, given Animoca Brands' experience in backing some of the earliest web3 startups. By teaming up with Animoca Ventures, we will be able to discover and support web3 projects that align with our vision for an open Metaverse."
"Animoca is focused on NFTs, and YGG has been at the forefront of investing in NFT assets, connecting blockchain gamers around the world," commented James Ho, Head of Animoca Ventures, on the MoU. "Our aim is to drive true digital property rights and build the metaverse where this can happen. YGG's expertise and influence in this area is an important component in the equation to bring web3 to the wider internet user base while supporting other promising startups."
About Yield Guild Games (YGG)
Yield Guild Games (https://yieldguild.io/) is a decentralized gaming guild acquiring non-fungible tokens (NFTs) that generate rewards from active play in blockchain games. YGG's mission is to onboard millions of players around the world to the "play-to-earn" revolution that brings the benefits of blockchain technology to those who need them the most.
About Animoca Ventures
Animoca Ventures is the venture investment arm of Animoca Brands, a global leader in digital entertainment, blockchain, and gamification.
Animoca Ventures specialises in early-stage investments in Web3 and blockchain companies and projects.
It serves as the pulse of Animoca Group, working at the frontlines to discover new cutting-edge projects and trends in the Web3 space.
The contents of this press release do not constitute investment advice and do not constitute any offer, solicitation or recommendation of any investment product in any jurisdiction. The contents have been prepared for informational and general purposes only. Crypto assets are highly volatile and may be regulated or restricted in your jurisdiction. You are encouraged to seek independent professional advice if you have any questions.
Contact Information:
Julian Peh
Immersion Consulting
[email protected]
Press Release Service by Newswire.com
Original Source: YGG Signs Memorandum of Understanding With Animoca Ventures
More News
nhow Hotels & Resorts Unveils ‘GAME:NXT by nhow’ Across Europe
nhow Hotels & Resorts is taking its gaming offering to the next level with the launch of ‘GAME:NXT by nhow’, a new gaming and esports ecosystem designed to bring interactive digital experiences into the hotel stay. Building on the success of its gaming offering at nhow Berlin, the concept combines hospitality with gaming and digital culture, giving guests new ways to connect, play and create during their stay.
Intelligent robot application skills exhibition opens in E China
Intelligent robot application skills exhibition opens in E China
AI-to-AI communication could change how ads are bought and sold: Report
Artificial intelligence could change the way advertisements are bought and sold by enabling automated communication between systems, reducing manual coordination across the fragmented advertising ecosystem, according to a report by ADvendio, an advertising technology company.
When did grey squirrels start posing a threat to reds?
A pair of grey squirrels was reportedly brought to the United Kingdom by a Cheshire banker in 1876.
China launches nine satellites aboard Lijian-1 rocket
China launches nine satellites aboard Lijian-1 rocket
Inside China-ASEAN Expo: What new opportunities can AI unlock?
Inside China-ASEAN Expo: What new opportunities can AI unlock?
McKinsey report shows productivity decline in 30% of companies using agentic AI
In nearly 30 per cent of companies, productivity fell after teams began using agentic artificial intelligence tools, revealing operational hurdles amid the rapid enterprise adoption of autonomous coding systems, according to McKinsey’s Technology Trends Outlook 2026.
Only four countries lead global AI adoption by 20%, muting hiring in tech and services: Goldman Sachs
AI adoption rates among major developed economies range from 15–20 per cent, with France, the US, the Netherlands, and the UK at the top end of the range, according to a report by Goldman Sachs Research.
China advances lunar spacesuit, bed rest research for moon landing
China advances lunar spacesuit, bed rest research for moon landing
Trump says he plans to form AI Force, appoint AI 'Czar'
US President Donald Trump said Saturday that he is forming an "AI Force" and will announce an "AI Czar" in the near future.
Not all AI workers think the tech could kill everyone
In text exchanges and conversations, multiple people who have worked for leading companies are sceptical of the warnings.
Trump says US will form 'AI Force' and appoint an artificial intelligence tsar
The president said his administration "will not in any way hinder or stifle the growth" amid amid warnings about the emergent technology.
Recommended
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.