On 3rd March, Yield Guild Games (YGM) (DAO) raised $1.3M from crypto venture companies Scalar Capital, Delphi Digital, Gumi Cryptos, Youbi capital, and others. YGM has a history of investing in Non- Fungible token (NFT) that is quite close to the virtual gaming domain. It is expected that YGM investment will further strengthen the (NFT) trend. A renewed vigor and interest in NFT will be likely to come forth.
NFT is a uniquely minted cryptocurrency that is un-fungible that defines its holder cannot interchange mutually. It’s completely different from other cryptos like bitcoin, Ethereum, Litecoin, Cardano, Stellar, and others that can be purchased and sold in a mutually interchangeable way.
In the press release, YGM stated that they are targeting the domain of playing and earning. So gaming might get appreciation from all instead of worthlessness. This company is a pool of 2500 people that work to make gaming more earnable. Its investors and players own this group, and they are collectively responsible for running the company.
One may see an increased investment in NFT cryptos along with the traditional cryptocurrency. The trend is already going on; another DAO, the Flamingo, spent 605 Ethereum to invest in NFT. The amount raised by YGM is vast, and experts speculate that gaming industries will witness change. Even the company plans to take their business to the next level by putting the raised money into enabling the environment for ‘ virtual gaming and economic activities.’ Here a player will play the game and will earn at the same time. That making gets to invest in guild purchasing land. Players also get tokens to participate in the game more actively. Investment opportunities in real estate and others were getting scarce, and this company has a plan for people to invest in virtual real estate.
It’s positive for the people interested in virtual currency, gaming, and futuristic technologies in simpler words.