How a crypto startup raised $12.5 million in 31 seconds and won over Andreessen Horowitz

• Crypto platform Yield Guild Games (YGG) made $12.5 million in 31 seconds by selling YGG tokens.
• YGG loans digital assets to players so they can earn money through crypto games like Axie Infinity.
• “They’re creating incredible economic opportunities,” a16z partner Arianna Simpson told Insider.

In late July, crypto platform Yield Guild Games (YGG) made $12.5 million in 31 seconds by selling YGG tokens.

It was supposed to be a chance for the community to buy the tokens, but few were able to when the tokens sold out so quickly. YGG’s Discord server was flooded with complaints – people angry that the auction was over in an instant.

YGG called an emergency meeting at 1 a.m. and gathered team members virtually from all over the world.