According to a recent blog post from the company, Yield Guild Games recently secured $4 million in a Series A round of funding. The round was led by Bitkraft Ventures with participation from Atelier Ventures, Fabric Ventures, Greenfield One, IDEO CoLab, Mechanism Capital, ParaFi Capital, and Third Prime Capital.
This round of funding will help Yield Guild Games further strengthen its sponsorship of gamers. The company believes “that players should be able to earn a living playing video games.”
“This round was interesting because, with the first round that we raised, it was pretty much mostly crypto funds,” said Gabby Dizon, the cofounder of Yield Guild Games, in an interview with GamesBeat. “This time, we have one of the most respected games and esports venture capital firms in the world. And they were interested in what we were doing because it fit their ideas of the future of work.”
Yield Guild Games held a seed financing round in March of 2021. The organization reportedly raised $1.3 million during that round of funding.
The Profit‘s Take:
Any time I see a round led by Bitkraft I start to worry. The gaming industry certainly allows some people to make a living playing video games today. I’m not sure what Yield is doing here beyond adding some fancy buzzwords around something that’s been happening for over a decade in WoW (gold farming there as just one example). The reality is that play-to-earn will probably never work for the masses of gamers. It will likely almost always be relegated to a small percentage of people who grind games obsessively.