Yield Guild Games (YGG), a decentralized autonomous organization (DAO) focused on investing in NFT-based games, recently announced that it will acquire $1 million worth of non-fungible token (NFT) gaming assets from the popular multiplayer online game, Star Atlas.
According to a press release shared with Coinfomania, the intended acquisition is part of a long-term partnership between Yield Guild Games and Star Atlas.
The two projects are closely aligned in terms of vision and mission. Both projects formed a strategic partnership in April to enable metaverse participants to lease NFTs on the in-game Star Atlas DeFi marketplace.
YGG noted that the blockchain-based, space-themed, grand strategy video game built on the Solana blockchain could gain global mainstream success in the coming years.
The DAO has in the past acquired from previous Star Atlas drops, including several spaceships such as Calico Guardian, Compakt Hero, Opal Jetjet, Pearce X4, and others.
Speaking in a comment, Sarutobi Sasuke, Head of Partnerships at Yield Guild said,
“We believe that Star Atlas has the potential to become a leader in the play-to-earn space as it aims to offer a huge range of ways that players can participate in the game, in a valuable and meaningful way.”
Star Atlas aims to establish itself as the first blockchain game to provide its players with a cinematic-quality visual experience, stimulating a thrilling gaming experience for players.
The game, however, is still under development, with several new features being rolled out. Star Atlas has scheduled a Fraction Selection update to take place on October 5 and the release of a full game trailer on October 6 via a YouTube Premiere.
Over the past several months since its creation, the game’s development team has added up to over 130 staff, all currently working towards the official launch.
Micheal Wagner, the co-founder, and CEO of Star Atlas added,
“Our partnership with Yield Guild Games is bearing fruit for countless metaverse players worldwide, providing access to flourishing gaming communities based in the Philippines and throughout the world while giving an opportunity to millions of players to create their own prosperity through Star Atlas.”
YGG is set to acquire more in-game items once other NFT drops are launched in the coming months, including the upcoming NFT pack scheduled to drop on October 7.
Just last month, YGG raised $4.6 million in a funding round led by the leading venture capital firm, Andreessen Horowitz.