Estonian Yolo Investments backed NFT gaming platform Balthazar DAO in a $2M round

Based in Estonia venture company Yolo Investments provided financing for NFT (non-fungible token) gaming platform Balthazar DAO. The $2M round was backed by an investment firm Hive Empire Capital, IDG Capital, Tezos Foundation, Kucoin Labs, Digital Asset Capital Management, Gandel Invest, Fantom Foundation, Red Building Capital, Vendetta, Pluto Digital, and several others.

Balthazar develops an infrastructure platform, that game developers need to create Web3 games. It also works on a credential recovery system that allows people to keep their assets even in case of losing passwords. The company was established in 2021. 

The new capital will be used to help accelerate the business’ Babylon SDK (software development kit) division, which aims to bring Web 2 games into Web 3. To achieve it the company will bring on key product experts and engineers.

The game users will no anymore own a crypto wallet and link it to an NFT-based game. It would be enough for them to sign up for a game using just a username and password. Games integrated with Babylon’s SDK will automatically create the user a wallet for the users to collect in-game assets.

Yolo Investments is a venture capital focused on seed- and A-stage investment across gaming and fintech. The company was launched in Estonia by Tim Heath in 2017. Tim Heath specializes in the iGaming industry. He is also a founder and a Board Member of the Yolo Group, which operates gaming brands such as bitcasino.io and sportsbet.io.