Yield Guild Games is a play-to-earn (P2E) gaming ecosystem and decentralized autonomous organization (DAO) that allows users to invest in a variety of gamified non-fungible tokens (NFTs).
YGG’s primary goal is to build the largest virtual economy in the gaming industry, provide real-world utility for its assets, and diversify revenue streams for its token holders. This is done by creating a virtual economy around an already existing asset: gamified NFTs.
Yield Guild Games incentivizes users to play virtual games in exchange for YGG tokens- the native currency in the ecosystem. This reward system can be used to create an unstoppable economy that generates real-world value for the assets within the ecosystem. Players in the YGG ecosystem earn YGG through game achievements when they complete certain actions.
There are other revenue generation options are available for users, including the rental and sale of YGG-owned NFTs in a secondary marketplace like Opensea.
Who Are the Founders of Yield Guild Games (YGG)?
Yield Guild Games is a game studio in Manila founded in 2018 by Gabby Dizon, a key member of the team that created the Axie infinity and Yearn Finance communities. His vision of a decentralized platform that gives power back to the gaming community has led many other innovative blockchain projects to do adopt the same principle.
Beryl Li and Owl of Moistness co-founded the game studio in Manila. Beryl Owl was previously the president of the Cryptocurrency Society in 2016 and the Co-founder at CapchainX. While Owl of Moistness is a developer, who was instrumental in the development of Axie Infinity.
The YGG team has grown over the years and now houses over 20 members who are experts in their respective fields.
What is Yield Guild Games (YGG) used for?
YGG allows users to receive real value for their virtual assets. All gamified NFTs in the YGG ecosystem are “trade-able” on an open marketplace that has clear rules, processes, and a listing fee structure.
By creating a tokenization strategy around already existing content, YGG creates a virtual economy and opens the market to players anywhere in the world.
The Gamified NFTs will be used to reward game achievements, provide basic utility for gaming purposes, and provide real-world utility through secondary trading on a public marketplace.
Furthermore, the YGG token is used to incentivize users to play games and make in-game purchases. The rewards offered by the platform can be used in a variety of ways, such as a way to give back to the community or as a medium of exchange on a secondary marketplace. Users can also use their earned tokens to play other games within the YGG ecosystem.
What Makes Yield Guild Games (YGG) Unique?
Yield Guild Games is unique because of its P2E economic model. The DAO’s main revenue source is generated from leveraging the community-owned NFT assets directly or indirectly via a rental scheme in which members of the guild use the assets in exchange for a portion of the in-game rewards going directly to YGG.
The YGG ecosystem rewards players by investing in their virtual assets and making them available for real-world use. By tokenizing the NFTs, the value can be stored securely in their wallets and used as a medium of exchange on secondary markets.
How Many Yield Guild Games (YGG) Coins Are There in Circulation?
Yield Guild games have a circulating supply of 112,139,662 YGG coins and a market cap of $319,658,501. It has a maximum supply of 1,000,000,000 YGG coins.
How Is the Yield Guild Games (YGG) Secured?
The Yield Guild Games network is made up of several subDAOs, each of which is made up of several groups of players from a single game or geographical region. Each subDAO has its own unique set of rules and conditions for sustaining and safeguarding the respective P2E game. To maintain security, assets in these subDAOs are owned and administered by the YGG treasury via a multisignature (multisig) hardware wallet.
How do I buy Yield Guild Games (YGG)?
Yield Guild Games (YGG) is available on several exchanges including Binance, OKEx, Gate.io, ZT, and Uniswap (V3).
It can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and Buy YGG through your trading account.
Which Cryptocurrency Wallet Supports Yield Guild Games (YGG)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as Yield Guild Games (YGG). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their YGG wallet because it offers a simple and interactive interface, making it easy for people to navigate its system.