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Regionally-focused partner of decentralized gaming startup Yield Guild Games (YGG), Ola GG, has raised $8 million to further grow its play-to-earn gaming in Spanish-speaking markets.
In a statement, Ola GG said that the seed funding round saw participation from from Galaxy Interactive, BITKRAFT and Arca, among others.
The newly raised capital will be used to acquire yield-generating NFTs and the creation of Spanish-language educational content, Ola GG said. The firm will also use the proceeds to strengthen the adoption of play-to-earn gaming in the U.S., Latin America and Spain.
https://mobile.twitter.com/OLAGuildGames/status/1518954955922714625
Ola GG co-founder, Clara Bullrich, said:
“The Hispanic market has many similarities to that of Southeast Asia, which is where YGG was born. With so many people living below the poverty line and lacking access to quality education, we are seeing an equally strong appetite for Play-to-Earn blockchain games and, with it, the adoption of cryptocurrencies.”
David Nage, Principal of Arca, said:
“Ola GG is on a mission to bring blockchain-based gaming to populations around the world that have struggled with unemployment and high inflation. We have already seen the positive impact of these games in other countries around the world, such as the Philippines, and how they can help families to be able to pay for their basic needs during a global pandemic. This is a mission that I am very proud to be part of, while working with a world-class team with a proven track record of success.”
Carlos Pereira of BITKRAFT, commented:
“Ola is a strong combination of a team with regional focus and diverse talents across gaming, finance and crypto. We’re excited to see them bring that experience together and pursue the potential for guilds to distribute financial products and education to large segments of unbanked customers through gaming and fun.”