BAYZ, a blockchain gaming and esports company recently closed a $4 million (£3 million) seed funding round led by Yield Guild Games. The funds will be used to solidify the company’s position in the NFTs gaming industry.
The money will be utilized to strengthen BAYZ’s position in the NFT gaming industry through investments and collaborations, according to the press release. BITKRAFT and Delphi Digital, two well-known gaming and cryptocurrency investment firms, are also part of the seed round.
The funding round included angel investors Sebastien Borget (The Sandbox), Aleksander ‘Psycheout’ Larsen and Jeff ‘Jiho’ Zirlin (Axie Infinity), as well as Nickev (RumbleKongs and reNFTLabs).
BAYZ, which calls itself a “gaming guild,” wants to use blockchain technology in content development, competition, and esports. Matt ‘MobileMatt’ Rutledge and Joo Borges, both veterans of mobile esports, formed the startup in October 2021.
“With the growth of NFT and blockchain-based gaming, we recognized we had a tremendous potential to deliver the play-to-earn platform to people who need it the most,” said Matt “MobileMatt” Rutledge, Co-Founder of BAYZ.
“We’re committed to producing the resources needed to assist gamers to learn about the power of play-to-earn and onboard them into the metaverse by expanding our content pipeline and infrastructure.”
A portion of the profits will be donated to a fund for the BAYZ community, according to the business. In the global blockchain gaming ecosystem, BAYZ will also ‘create an industry-leading structure’ to support its esports operations.