YGG is the utility token of Yield Guild Games, a play-to-earn gaming guild. It is a Decentralized Autonomous Organization.
What is Yield Guild Games?
- It was launched on November 2020, and was one of the first platforms to popularize the game Axie Infinity, which millions of people are already playing.
- It enables a metaverse economy with value from NFT assets.
- YGG is based in Manila, so the audience targeted by the platform are players in Southeast Asia.
- The platform allows people to do their research on the most profitable NFT assets in the metaverse.
- Those who own NFT assets can use YGG to leverage their assets and rent these out for other players to use.
- Aside from assets, virtual lands are also leveraged within YGG to generate revenue.
|Total Token Supply||1,000,000,000|
|Current Circulating Supply||See Coinmarketcap|
|Market Capitalization||See Coinmarketcap|
|Token Creation Date||July 2021|
|Can it be mined?||No|
Who is behind Yield Guild Games?
Yield Guild Games was co-founded by Gabby Dizon and Beryl Li, advocates of play-to-earn games based in the Philippines.
The idea to create Yield Guild Games first started in 2018, when both founders thought of lending their Axie Infinity assets to other players who couldn’t afford to buy their own. The game surged in popularity in 2020, when Filipinos started looking for more sources of income amidst the pandemic.
What is the purpose of Yield Guild Games?
Yield Guild Games was created to introduce more people to play-to-earn games, and ultimately make an entire digital ecosystem where people can have a platform to leverage their digital assets and lend to other players.
Axie Infinity is one of the many games that YGG actively supports, with millions of people playing it regularly as a result of efforts to promote the new rising gaming genre.
YGG token is the utility token of YGG DAO. It is used by players and investors alike to acquire digital assets across games supported by the YGG DAO platform. Aside from being a form of payment, YGG token can also be staked by investors to receive guild benefits and rewards. From time to time, YGG DAO has events and activities that players and investors can participate in, and this is where they stake the YGG tokens in their possession and receive rewards in return.
- Since YGG as a platform is decentralized, people can vote on matters concerning the community and the platform using their YGG tokens.
- One unique feature of YGG is that it has subDAOs dedicated to specific demographics. SubDAOs are basically miniature ecosystems that can still interact with the main DAO. YGG SEA, the platform’s first regional subDAO, caters mainly to Southeast Asian players and investors.
- The token runs on ERC-20, which means that the value of the token is tied to Ethereum, the main coin.
- Like most NFT games where the assets have actual value, YGG can be considered an investment, and investments don’t come without risks of failure and loss of capital.
- Although ERC-20 tokens and Ethereum are completely independent of each other, there are still other factors that can affect the value of YGG tokens. The value of utility tokens is correlated with the popularity of the games in which they are accepted.
- Getting into NFT games like Axie Infinity through YGG requires thorough research on the technology behind the play-to-earn mechanics. This can be a barrier of entry for those who are not familiar with blockchain technology.
News and Updates:
- Yield Guild Games recently hit a 20k scholarship milestone in Axie Infinity, making it the biggest platform on which players can rent digital assets to play Axie Infinity and generate revenue.
- In addition to the already established games it supports, YGG also recently partnered with newer play-to-earn games like Nitro League.
- YGG recently introduced its new subDAO, IndiGG, which is made specifically to cater to Indian investors and players.
Community & Whitepaper Links:
*As cryptocurrency and digital tokens involve high risks, investors may lose all their investment money and should study information carefully, making investments according to their own risk profile.
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