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  • Yield Guild Games YGG
  • ( -4.28 % )
  • Rank #274
  • Coins

₹45

₹45

Contracts : Ethereum : 0x25f...a16cf73   

  • Rank #274
  • Coins

Market Cap

₹16.49 B -4.0511%

Circulating Supply

376253000

Max Supply

1000000000

Volume

₹3.93 B

All Time High :

₹830.18

All Time Low :

₹10.36

Price change in 24H :

₹-1.878388

24H High :

₹45.83

24H Low :

₹43.5

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   Yield Guild Games ( YGG ) Price Live Chart


What is Yield Guild Games (YGG)?

Yield Guild Games (YGG) operates as a Decentralized Autonomous Organization focused on investing in gaming and metaverse projects built on blockchain technology. YGG boasts an experienced team of players and enjoys support from influential investors. The primary goal at YGG is to enhance the overall impact and success of web3 games within the ecosystem.

Amidst the pandemic, blockchain-based gaming and NFT creation experienced significant growth. This trend provided artists and gamers with opportunities to monetize their talents by investing in NFTs and other digital assets. These investments enable participation in gaming platforms and generate passive income.

The concept of establishing a worldwide play-to-earn gaming community originated in 2018 when Gabby Dizon, the co-founder and CEO of YGG, observed the rising popularity of blockchain gaming in Southeast Asia. During that period, many gamers sought entry into the prevalent NFT game Axie Infinity but faced financial constraints in acquiring the in-game NFT characters, known as Axies.

Recognizing the potential of blockchain gaming as an empowering tool, particularly for individuals in developing nations, Dizon commenced lending his Axies to players who couldn't afford their own. This act inspired the foundation of Yield Guild Games alongside Beryl Li in 2020, aiming to support gamers in thriving within the realm of NFTs and blockchain gaming.

What is a Yield Guild Games Token?

The YGG Token, associated with Yield Guild Games (YGG), operates as an ERC-20 token granting holders governance rights within the YGG DAO. With a total issuance of 1 billion tokens, an Initial DEX Offering (IDO) on SushiSwap in 2021 released 25 million YGG tokens. To foster community support, 45% of the overall supply is allocated for gradual distribution among users across four years.

Functioning as the platform's inherent token, YGG serves as payment for network services. It can be staked to obtain rewards through the YGG vaults and used to access exclusive content on the YGG Discord channel. Furthermore, YGG holders possess the ability to propose and vote on decisions concerning the guild's technology, products, projects, token allotment, and overall governance structure. Successful proposals implemented within the DAO receive rewards in YGG tokens.

Who are the founders of Yield Guild Games?

YGG was established by the prominent Manila-based company behind Axie Infinity and Yearn Finance communities. The Game Studio responsible for Yield Guild Games was founded by Beryl Li, an entrepreneur involved in various crypto projects. A Cambridge alumna, she also held the position of president of a crypto society.

How does Yield Guild Games operate?

Yield Guild Games combines Decentralized Finance (DeFi) and NFTs to establish a metaverse economy operating on the Ethereum blockchain. The YGG DAO functions as an open-source protocol governed by smart contracts, managing various aspects such as implementing community-voted governance decisions, dispensing rewards, and facilitating NFT rentals.

YGG comprises multiple SubDAOs, representing groups of players from specific NFT games or geographical regions. Each SubDAO operates under distinct regulations managing the activities and assets of the respective play-to-earn game.

This framework allows players within the same NFT game to collaborate in maximizing their in-game profits. It further enables guild members to lease and utilize NFT assets owned by the community to earn in-game rewards. In return, individuals lending their NFTs via the DAO can share a portion of the gamers' earnings.

Within YGG, all NFTs and digital assets are housed in the YGG Treasury, overseen by the community. The treasury furnishes NFTs to each SubDAO, encompassing play-to-earn assets from various blockchain games.

What makes Yield Guild Games (YGG) Unique?

Yield Guild Games seamlessly merges the worlds of cryptocurrency and gaming on the blockchain. Despite numerous platforms claiming innovation, YGG stands out for its singular focus on reducing barriers for gamers to enter the play-to-earn landscape, enabling them to leverage their gaming skills effectively.

  • Virtual real estate: Within Yield Guild Games, players engage in the purchase, sale, and exchange of NFT properties and land.

  • YGG DAO: This decentralized autonomous organization serves as a link between end-users, developing and proposing improvement strategies to enhance YGG's product offerings. Additionally, it aids in determining where the company should invest to ensure alignment with user interests.

    To read more on Yield Guild Games, visit Suncrypto Price Explorer

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