Yield Guild Games (YGG) has generated US$13.8 million in a token purchase from the YGG treasury led by DWF Labs along with the participation of a16z Crypto, Galaxy Interactive, Sangha Capital Fund, Sanctor Capital, and David Lee to support the guild’s decentralization initiatives. YGG was co-founded by Beryl Chavez Li and Gabby Dizon. Yield Guild Games will appaarently be using the funds to accelerate the development of its soulbound reputation token (SBT). The SBT tokens were test-launched last year but were only offered as rewards for in-game activities.
SBT tokens are permanently linked to a person’s wallet, making them non-transferable. The company plans to place the tokens directly into games. YGG will reward creators with SBT tokens for completing selected tasks or quests. The company is launching a revamped version of its web app in March 2023, with the Soul token expected to play a big role in the guild’s ecosystem platform.
