YGG Japan Raises $2.95 Million in Private Placement Round

ChainPlay

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one year ago

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YGG Japan, a well-known blockchain game platform, has announced the successful completion of its recent private placement of new shares for approximately $2.95 million. The round was supported by a total of 18 companies, including big names in the Japanese gaming industry such as Square Enix and SEGA.

The investment will help YGG Japan continue its mission to lead the Japanese blockchain sphere by supporting Japanese gaming companies in launching their NFT games and other initiatives aimed at improving the GameFi industry such as reducing the cost of participating in NFT and blockchain games. 

YGG Investors

Square Enix general manager Keisuke Hata emphasized the importance of reducing entry barriers to these games, stating, "Player onboarding often requires complex steps, and the entry barrier to play is high, which makes marketing and promotion a challenge."

Japanese Gaming Industry

Japan is home to many beloved gaming franchises, including the iconic Final Fantasy series and Super Mario games, and YGG Japan plans to use its already-established expertise in gaming to support the expansion of web3 in Japan. 

Characters from Final Fantasy series Source: Gameinformer

The country has great potential in releasing unique and creative games, sometimes it's only a matter of funding and public support to make these ideals to reality. With the support of its investors, YGG Japan is poised to become a leader in the blockchain gaming world.

For those who are interested in learning more about YGG Japan, you can learn more about it by checking out their page on our website. Stay tuned to the Chainplay blog to see the latest developments and plans for the future.