Yesports raises $3.8m in latest funding round

Image credit: Yesports

Web3 esports engagement platform Yesports has raised $3.8m (~£3.2m) in its latest funding round.

The funds will be primarily used to hire staff members. According to a release, Yesports continues to develop an engagement platform that aims to connect ‘over 500 million global esports fans’ with their favourite teams.

The funding round included a number of web3 venture capital firms, some of which participated in the first funding round earlier this year. Rising Captial, BR Capital, and NGC Ventures all participated.

In January 2022, Yesports secured $2.25m (~$1.66m) to develop a new engagement platform that will allow fans to connect with organisations through memberships and metaverse experiences. The funding follows an initial grant from a $100m (~£84.6m) fund founded by crypto-based platform Polygon Studios.

Since its launch, Yesports has established partnerships with several esports organisations. Recently, it secured a deal with Latin American organisation INFINITY, resulting in the two parties will collaborating to launch a fan engagement platform involving NFTs. Yesports’ other partners include Talon Esports, BOOM Esports, Renegades and Team Empire.

The NFT memberships created by Yesports will allow fans to purchase VIP tickets to events, in addition to exclusive video content and chances to play alongside their favourite players.

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Sebastian Quinn, Founder and CEO of Yesports, spoke on the funding: “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.”

Jonno Nicholson
Jonno is a Freelance News Writer for Esports Insider and has been part of the ESI team since 2019! His interests include the rapid rise of sim racing and its impact on the wider industry.