Published on: 16/11/2022
UGC metaverse YAHAHA raises $40 million to improve user experience
YAHAHA, a user-generated content (UGC) gaming metaverse, has raised $40 million in a Series A+ funding round to improve user experience on the platform. Singapore’s Temasek and Chinese e-commerce behemoth Alibaba led the round.
The funding round is an extension of YAHAHA’s previous $50 million Series A, which was used to establish its no-code metaverse. The platform has received nearly $100 million in funding in just two years.
“This round of funding signifies the next step we are taking with YAHAHA, opening up more creator experiences monetization modules,” YAHAHA CEO Chris Zhu said in a statement.
The additional funding will be used to develop its products, community, headcount and ecosystem and to optimize the platform on all levels. The funds also enable the YAHAHA team to hire game industry talent and expand its presence in the United States and Asia Pacific.
According to Victor Tang, investment director at Alibaba Group, the YAHAHA 3D code-free real-time content creation engine can significantly improve game development and enhance the social nature of games.
Alibaba also believes it is a rapidly expanding PGC/UGC 3D content track. YAHAHA is expected to become a world-class platform company with a world-class international management team led by Chris.
The arrival of the Web3.0 era, according to Liu Yu, CEO at 37 Interactive Entertainment Investment, will result in a surge in demand for real-time interactive 3D content. The content creation tools on the platform will be the foundation for next-generation UGC metaverses.
They are also optimistic that YAHAHA’s creation tools will enable all users to create multi-person, high-definition interactive content without using codes.
YAHAHA, based in Finland and Shanghai, was founded in 2020 by Zhu, COO Pengfei Zhang and CTO Hao Min. YAHAHA is a user-generated content and no-code creation platform for 3D interactive content. The platform provides gamers with unique 3D game experiences from creators all over the world and the opportunity to become a creator.
“Our vision is to try to democratize the creativity so that everybody can build games,” Zhu said. “And the games that we define here are not just simple or casual games. We believe these can be 3D real-time interactive multiplayer games and should be instantly playable.”
The company claims that their no-code tools make creating a game as simple as dragging and dropping, as well as extensive, user-friendly tutorials. Users can also create Web2 mobile and PC games.
YAHAHA said they would continue supporting creators by offering new tools and features such as AI and cloud technology. The company has been developing pathways for introducing creator monetization modules. It provides an asset marketplace where players can sell things they created. YAHAHA takes a 30 percent cut, while the creators receive the rest.
YAHAHA employs over 170 people and has offices in Helsinki, Seoul and Shanghai. It intends to work with brands to bring new IPs into its metaverse. Its current partners include 3D asset development content providers such as Synty Studios, CGTrader, and Dabeeo.
YAHAHA has seen over 100,000 creators flock to its platform since its Early Alpha launch in April 2022, with hundreds of thousands of players enjoying its UGC games.