Esports Engagement Platform, Yesports, Raises $3.8M in Oversubscribed Strategic Round

The world’s largest Web3 esports engagement platform has been injected with an infusion of funds from Web3’s biggest VCs, bringing the platform’s total funding to $6 million to date

Yesports, the largest Web3 engagement platform for esports, has successfully finalized a new strategic funding round led by Spartan Capital, raising an additional $3.8 million ahead of its Initial DEX (decentralized exchange) offering.

Yesports is building the first cross-chain Web3 Engagement Platform (W3EP) designed to enable over 500 million global esports fans to engage more deeply with their favorite teams via all kinds of unique experiences including custom-built team memberships and eventual metaverse experiences. The platform will allow users to access exclusive content, community initiatives, team memberships, merchandise, and more by acquiring or holding non-fungible tokens (NFTs).

As part of the W3EP, Yesports recently launched its first product, a B2B platform-as-a-service customizable NFT membership solution, empowering esports teams to create their own memberships with perks and experiences for their specific fans in just a few clicks.

A majority of the raised funds will be dedicated to onboarding new highly skilled staff members, developing initiatives to evolve Yesports’ technical infrastructure, and expanding its esports team partnerships across the globe

A litany of leading web3 venture capitals participated in the strategic round, including Spartan, Tess Capital, NGC Ventures, Jsquare, Rising Capital, and BR Capital.

Some investors — including NGC Ventures and Jsquare — also participated in Yesports’ seed funding round in early 2022, which resulted in the platform raising $2.25 million for the initial development of the platform. The round also saw participation from top investors and prominent companies such as Polygon Studios, Alphabit, Kernel Ventures, and Cosmos.

The raise followed the initial grant from the $100 million gaming-centric NFT fund, founded by Polygon Studios, in July 2021.

“This latest funding round provides us an opportunity to build out the platform tech and further expand our reach,” said Sebastian Quinn, founder and CEO of Yesports. “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.”

Over the past months, Yesports has teamed up with some of the most prominent esports teams, including Talon Esports, Falcon Andilex, Renegades, Team Empire, and more. The latest Yesports’ partnership was signed in early July with Infinity — the 2021 Liga Latinoamérica (Latin American League) champions.