Andreessen Horowitz Sees The Future In Cryptocurrency Gaming By Investing $4.6 Million In Yield Guild Games
Andreessen Horowitz has shown its confidence in the future of cryptocurrency gaming by investing in Yield Guild Games, known for its Axie Infinity “mentoring” program for newcomers.
Yield Guild Games is a fast-growing Filipino startup that sees huge potential in the play-to-earn model. Among its representatives, the most significant project to date is Axie Infinity. In it, players can breed and buy funny creatures, as well as complete missions or sell virtual monsters, receiving cryptocurrency in return.
Yield Guild Games promote the so-called "mentoring" ("Axie scholarship") a model of distribution of profits received by novice players between them and those who bought them monsters for the game. Considering the considerable cost of one monster at least 300 today, many are interested in such a generous offer. Let us remind you that to “start” you need a team of at least three entry-level creatures.
The idea of "mentoring" is actively promoted today in developing countries, led by the Philippines, and is getting an outrageous number of people willing to find a "mentor". To check it out, just drive in: “Axie scholarship” on Twitter. The game has already helped hundreds of thousands of Filipinos earn more in a month than at work previously lost due to the COVID-19 pandemic.
Andreessen Horowitz also saw play-to-earn potential by spearheading Yield Guild Games' $4.6 million funding round. In addition to the venture fund, the round was attended by Atelier Ventures, Kingsway Capital, co-founder of the mobile application development company MZ Gabrielle Leydon and the Infinity Ventures Crypto team. The previous round of funding, hosted by Yield Guild Games in June, was led by BITKRAFT Ventures, whose main focus is esports.
Meanwhile, the Yield Guild Games training program has more than 4,700 players who have successfully earned more than $8.6 million to date, and Axie Infinity's AXS tokens continue to dominate, engaging more and more people in the virtual world.