Sequoia and Lightspeed partake in a $6m round of YGG’s India unit

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IndiGG, the India-based sub-decentralized autonomous organization (subDAO) of Yield Guild Games (YGG), recently raised US$6 million in new funding round to bolster the integration of play-to-earn games in the country.

The fundraise arrives at a time when the market is witnessing a spike in the monetization of Indian games, which currently generate US$1.8 billion in revenue. Factors attributable to the segment’s progress include the proliferation of smartphones, high-speed internet access, popular titles, influencers, and the global pandemic.

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Investors including Sequoia Capital India, Lightspeed Venture Partners, and Animoca Brands were also a part of this round.

IndiGG is creating a platform where gamers can delve into virtual worlds to usher in economic opportunities for all participants. The subDAO will lend its support to NFT assets for games such as Axie infinity, Pegaxy, Fancy Birds, Nyan Heroes, and Nitro League before bringing in new titles for the Indian market.

On top of that, Polygon Studios and their ecosystem of Web3 games – including Zed RunSkyweaver by Horizon Games, Decentraland, and Decentral Games– will open their doors to IndiGG scholars and allow the latest releases.