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BreederDAO, NFT Generator, Receives $10m In Funding Round Co-Led By A16z

BreederDAO, which was founded only a month ago, creates NFTs and other digital assets, which can be used in blockchain-based games as well as virtual worlds.

BreederDAO, Philippines NFT Generator, Receives $10m In Funding Round Co-Lead By A16z

A16z was leading a major investment drive into Sky Mavis, the parent company of “Axie.” It is now supporting yet another firm: BreederDAO, a Philippines-based “specialised producer” of digital goods for blockchain-based games and virtual worlds such as “Axie Infinity,” which has been in operation for some months.

BreederDAO, a blockchain startup located in the Philippines, has acquired $10 million in series A funding. This was achieved through a token sale which was co-led by Delphi Digital and Andreessen Horowitz (A16z).  The round was also attended by Emfarsis, The LAO, Sfermion, Mechanism Capital, Morningstar Ventures, Com2uS, and Hashed.

A16z’s second investment in the Philippines comes after the US-based Venture Capital led Yield Guild Games’ (YGG) US$4.6 million funding round in August of last year.

BreederDAO, which was founded only a month ago, creates NFTs and other digital assets, which can be used in blockchain-based games as well as virtual worlds.  Crabada, Axie Infinity, Cyball, and Sipher are among these titles. Renz Chong, a former executive of the Philippine delivery firm Angkas, co-founded the company with Nicolo Odulio and Jeth Ang.

BreederDAO received an unknown amount of seed capital prior to this investment from Not3Lau Capital, Mentha Partners, FireX Capital, Bitscale Capital, Ascensive Assets, Infinity Ventures Crypto, and YGG.

Why support a company that is primarily focused on creating digital assets like they were widgets on a production line? According to the general partner at a16z, Arianna Simpson, it’s quite simple; the demand for NFTs is starting to outweigh supply.

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