Yesports: Esports Web 3.0 Platform Secures $3.8m in Funding Round
In January of 2022, Yesports appeared on the Web 3.0 map, emerging as a firm poised to change how esports fans interact with esports teams. At the start of the year, the Polygon-backed platform raised $2.25 million in a bid that would launch the ‘Esports Metaverse Platform’. Now, in an oversubscribed funding round, more than $3.8 million has been raised to further bolster Yesports and facilitate the expansion of the platform.
Since the year kicked off, Yesports has worked hard to form partnerships with esports organisations. At present, several smaller organisations have linked up with the Yesports platform, but the combination of an ambitious team and funding from investors means that bigger esports firms may also come on board.
‘Launching Esports Into Web 3.0’
Yesports claims to be the ‘biggest venue for esport fan engagement’, uniting fans and organisations through the use of ‘white glove Web 3.0 services’. It’s a platform powered by $YESP, boasting an NFT marketplace, a metaverse, and utility-first NFTs. At present, the firm is working on delivering a strategic roadmap, and up to this point, everything has been achieved as expected. For instance, on the 12th of August, Yesports launched its NFT B2B service which is designed to better facilitate engagement.
While there has been some resistance from esports and gaming fans regarding the concept of NFTs, Yesports remains optimistic. In a statement on the $3.8m funding round, the CEO of Yesports, Sebastian Quinn, said:
This latest funding round provides us an opportunity to build out the platform tech and further expand our reach. Continued support by leading investors demonstrates a high conviction in the future for bridging the 500m+ esports fans into the Web3 world — and we’re here to bring this vision to fruition.
Recently, Yesports partnered with Klaydice, a gaming studio with a similar mission. At Klaydice, the chief goal is to develop and propagate play-to-earn games. Through Yesports, members will eventually be able to take advantage of these play-to-earn games, explore a metaverse that includes virtual esports clubhouses, and become VIP members of existing esports organisations.
With the $3.8m funding injection, Yesports hopes to expand its ‘innovative engagement’ offerings. At the core of these offerings is the ability to mint NFT membership cards, which connect a user to an esports organisation and grants them a range of added bonuses and advantages. These will one day include VIP access to esports events, exclusive merchandise, and gaming sessions.
It’s a long way from delivering esports fans engagement opportunities at the highest level, but it’s a project that’s gaining ground.