Andreessen Horowitz (a16z) has invested in the Philippine-based play-to-earn community Yield Guild Games. The investment, which also included Kingsway Capital, Infinity Ventures Crypto, Atelier Ventures, and others, totaled $4.6 million.
In conventional games, players earn points towards a leaderboard.
But in a raft of new blockchain games, players can earn in-game tokens, which can be converted to cryptocurrency and sold. Hence they can earn money, which can be significant in low-wage economies. But to play these games, the user often needs to buy a character to get started. That’s where Yield Guild Games comes in because it lends out these characters.
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