Esports engagement platform Yesports has raised $2.25m (~£1.66m) during its round of seed funding.
According to the release, the funds raised will go towards the development of its NFT-based esports marketplace and esports-focused metaverse.
The Yesports metaverse reportedly represents the first cross-chain Metaverse Engagement Platform (MEP) designed to enable more than 500m esports fans to engage with their favourite teams in custom-built metaverse experiences.
Yesports’ list of investors includes Polygon Studios, Alphabit, Cosmos, Kernel Ventures, Mozaik Capital and NGC Ventures.
Sebastian Quinn, CEO and Founder of Yesports, spoke on the announcement: “Web3 and the emerging metaverse allow for much greater fan participation, engagement, and ownership.
“Yesports is the Web3 upgrade the esports sector has been waiting for and will serve as a portal for esports fans to participate in this new paradigm. We can’t wait to get building with teams all over the world.”
The platform will provide its users with access to exclusive content, community initiatives, merchandise and more by acquiring or holding NFTs.
Moreover, Yesports intends to collaborate with esports teams to provide fans with private metaverse experiences. The investment round follows on from an initial grant received by Polygon Studios’ $100m gaming-centred NFT fund.
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 Web3 landscape.
“The esports 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.”
Esports Insider says: A lot of investment is currently going into the development of metaverse and NFT platforms within the esports space. It will be interesting to see what engagement opportunities will emerge with the increasing number of blockchain platforms promising the ‘unique metaverse experiences’.