Polygon Studios-backed Yesports closes oversubscribed USD2.25m round to launch Esports Web 3.0 Engagement
Yesports, the world’s first Esports Web 3.0 Engagement, has closed an oversubscribed seed round of USD2.25m from top venture partners, including Polygon Studios, Alphabit, Kernel Ventures, and NGC Ventures. The funds raised will go toward the development of the non-fungible token (NFT)-based esports marketplace and esports-focused metaverse, Yesports.
Yesports represents the first cross-chain Web 3.0 Engagement Platform (W3EP) designed to enable 500M+ esports fans worldwide to engage fully with their favourite teams in Web 3.0. The Yesports platform will provide access to exclusive content, community initiatives, merchandise, and more by acquiring or holding NFTs.
Through the sale of NFTs, esports teams partnered with Yesports will be able to engage with their fan communities in ways never seen before, while benefiting from new, sustainable revenue streams.
The raise follows an initial grant from the $100m gaming-centred NFT fund Polygon Studios founded in July.
Steven Bryson-Haynes, VP of Business Development, NFT & Gaming at Polygon Studios, said: “The team at Yesports are building something extremely valuable to the rapidly developing Web 3.0 landscape. The esporting sector’s fan base and viewing figures are expanding all the time and Yesports will galvanize this by enabling an outlet for fan engagement. We’re really excited to be part of this round and look forward to supporting the project in the months to come.”
The interoperable W3EP is built on an early grant from Polygon, an Ethereum-based scaling solution. In recent months, Polygon has become the leading go-to platform for NFT projects, including Dolce & Gabbana, OpenSea, NFT artist Beeple, DraftKings, Tom Brady’s Autograph, and Mark Cuban’s Lazy.com.
