Yield Guild Games

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Yield Guild Games?

Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) that coordinates players worldwide to earn crypto-based rewards in play-to-earn games. It invests in non-fungible tokens (NFTs), such as in-game assets and virtual land, and makes them available for guild members to borrow. The community includes players, contributors, and community managers who help onboard new players and earn income through play-to-earn models.

How is Yield Guild Games used?

Yield Guild Games (YGG) is a gaming guild that allows players to earn rewards through play-to-earn blockchain games. Here's how it works:

  1. Joining the Guild: To join YGG, you need a crypto wallet supported by the Ethereum network, such as MetaMask. You then mint a Guild Badge, which is a gaming NFT that proves your membership. This requires Ethereum (ETH) to cover gas fees.

  2. Borrowing NFTs: YGG invests in NFTs, including virtual land and in-game assets, which members can borrow to earn rewards in play-to-earn games. This model allows players to participate in games without having to purchase expensive NFTs.

  3. Community and Roles: Members contribute to the guild by performing various activities, such as managing the Discord channel or sharing updates. These efforts are rewarded with tokens or NFTs. The guild is decentralized and governed by smart contracts, with multiple SubDAOs focused on specific games or regions.

  1. Earning Rewards: Players can earn rewards by participating in games, and the guild earns revenue through NFT rentals, sales, and in-game activities. The YGG token is used for governance, staking, and payment for services within the network.

  2. YGG Token: The YGG token is an ERC-20 token with a total supply of 1 billion. It is used for governance, staking, and payment for services. Token holders can participate in the governance of the YGG DAO and earn rewards through staking.

  3. SubDAOs: YGG is divided into multiple SubDAOs, each focused on a specific game or region. These SubDAOs manage their own assets and activities, and token holders can participate in governance decisions and earn rewards based on their contributions.

  1. Revenue Streams: YGG generates revenue through scholarships, land ownership, NFT appreciation, and other in-game activities. The YGG DAO oversees the management of these assets to maximize value for its members.

Overall, Yield Guild Games provides a platform for players to collaborate, earn rewards, and participate in the governance of a decentralized gaming community.

How do I store Yield Guild Games?

To store Yield Guild Games (YGG) tokens, you will need a crypto wallet that supports the Ethereum network. Here are the steps to follow:

  1. Choose a Wallet: Select a suitable Ethereum-compatible wallet, such as MetaMask, Trust Wallet, or other software wallets that support the Ethereum network.

  2. Connect to the YGG Platform: Connect your wallet to the Yield Guild Games platform to mint a Guild Badge, which is proof of your membership in the guild.

  3. Store YGG Tokens: Once you have YGG tokens, you can store them in your chosen wallet. Make sure you have enough Ethereum (ETH) in your wallet to cover gas fees for transactions.

  1. Access Reward Vaults: With your YGG tokens stored, you can access the Reward Vaults on the YGG platform to stake your tokens and earn rewards. Ensure you are logged in with the wallet that holds your YGG Guild Badge and tokens.

By following these steps, you can securely store and manage your YGG tokens.

How to buy Yield Guild Games?

To buy Yield Guild Games (YGG) tokens, follow these steps:

  1. Choose a Cryptocurrency Exchange:

    • Binance: Create a free account on the Binance website or app. Verify your identification and fund your account using credit/debit cards, bank deposits, or third-party payment methods.
    • Kriptomat: Sign up for a free account, complete the quick onboarding process, and verify your identity. You can fund your account using SEPA bank transfers, credit/debit cards, or Skrill/Neteller payments.
    • Other Exchanges: Compare and choose from other exchanges like Uphold, Kraken, and KuCoin, each with their own set of features and payment options.
  2. Fund Your Account:

    • Deposit funds into your exchange account using your chosen payment method.
  3. Buy Yield Guild Games (YGG):

  • Navigate to the Yield Guild Games (YGG) purchase page on your chosen exchange.
  • Select the amount of YGG you want to buy and confirm your order.
  1. Store or Use Your YGG:
    • Once purchased, you can store your YGG tokens in your exchange account or transfer them to a personal crypto wallet for safekeeping. You can also trade YGG for other cryptocurrencies or stake it for passive income.

Remember to carefully consider your investment experience, financial situation, and risk tolerance before making any investment decisions. Cryptocurrency prices are subject to high market risk and price volatility.

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History of Yield Guild Games

Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) that focuses on investing in non-fungible tokens (NFTs) used in virtual worlds and blockchain-based games built on Ethereum. The organization was founded in 2020 by Beryl Li and Gabby Dizon, who aimed to create a global network of players and investors that would help each other get started with NFT games.

The idea for YGG began in 2018 when Gabby Dizon, a gaming industry veteran, started lending his own Axies to other Axie Infinity players who couldn’t afford them. This initiative helped Filipinos create an additional source of income during the pandemic by playing games. By October 2020, it was clear that this model was successful, leading to the creation of YGG with the mission of onboarding millions of people into the play-to-earn revolution.

YGG has grown significantly since its inception. By March 2022, the project already had more than 20,000 scholars, and it continues to invest in various play-to-earn games and NFTs, such as Axie Infinity, The Sandbox, and League of Kingdom, to name a few.

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How Yield Guild Games works

Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) that allows players to participate in play-to-earn blockchain games without needing to invest in expensive non-fungible tokens (NFTs) upfront. Here's how it works:

Scholarship Model

YGG owns NFTs such as characters, tools, or land in various blockchain games and lends them to players, known as "scholars." In return, the scholars share a portion of their in-game earnings with YGG. This model opens up economic opportunities for users and creates a passive income stream for the guild, which it reinvests into purchasing more assets.

SubDAOs for Specialized Management

YGG has implemented SubDAOs for specialized management. These are subdivisions within the guild that focus on specific games or regions. Each SubDAO operates under the broader umbrella of YGG but has the autonomy to tailor strategies and manage assets according to the specific needs of their focus area. This allows YGG to scale its operations effectively while ensuring that local or game-specific qualities are managed properly.

Earning and Investment Opportunities

Players earn by achieving in-game objectives, which can include winning battles, completing quests, or farming virtual resources. As players contribute to the game economy, they earn tokens or other in-game assets, part of which is shared with YGG. YGG offers several ways for investors and token holders to engage with its ecosystem. By purchasing YGG tokens, investors gain voting rights in the DAO's governance, influence the guild's decisions, and participate in the financial benefits of the guild's activities.

Governance and Token

YGG is an ERC-20 token that gives holders the right to participate in the governance of the YGG DAO. It has a total supply of 1 billion tokens, and 25 million YGG was sold via an Initial DEX Offering (IDO) on SushiSwap in 2021. To support the community, YGG has set aside 45% of the total supply to be distributed to users gradually over four years. As the platform's native token, YGG is used to pay for services on the network, can be staked to earn rewards in the YGG vaults, or used to unlock exclusive content on the YGG Discord channel.

Community and Support

YGG is made up of different community members, players, and contributors who help each other get onboarded and earn income through play-to-earn. Community Managers are active guild members who recruit and train new players, providing ongoing training and mentorship to help players improve their skill and better understand the games. They also help new players learn how to safely and responsibly manage their earnings in cryptocurrencies.

Overall, YGG combines decentralized finance (DeFi) and NFTs to create a metaverse economy on the Ethereum blockchain, providing a platform for players to collaborate, earn rewards, and grow together.

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Yield Guild Games's strengths

Yield Guild Games (YGG) has several strengths that contribute to its success in the blockchain gaming and decentralized finance (DeFi) space:

  1. Decentralized Community: YGG operates as a decentralized autonomous organization (DAO), allowing members to participate in governance decisions and ensuring a community-driven approach.

  2. Play-to-Earn Model: The platform leverages the play-to-earn concept, enabling players to earn real-world value through their in-game activities, which is a key strength in attracting gamers and investors.

  3. Diverse NFT Portfolio: YGG acquires and manages a diverse portfolio of in-game assets, such as virtual land, characters, and items, across multiple play-to-earn games. This portfolio is then leased out to players, providing them with the necessary tools to succeed.

  1. Revenue-Sharing Model: The guild operates on a revenue-sharing model, where a portion of the earnings generated by players is reinvested into acquiring additional in-game assets and expanding the guild’s presence in different games. This model ensures a sustainable income stream for both the guild and its members.

  2. Supportive Community: YGG provides a supportive environment for its members, known as scholars, by assigning them experienced managers who offer guidance and optimize gameplay strategies to maximize earnings.

  3. Tokenomics: The YGG token serves multiple purposes, including governance, incentivization, and economic transactions. The token distribution is designed to ensure sustainable growth and value accrual for the ecosystem and its participants.

  1. Partnerships and Investments: YGG has invested in various popular play-to-earn games, such as Axie Infinity, Illuvium, Splinterlands, and Star Atlas, which helps to grow its presence and attract more gamers and investors.

These strengths have contributed to YGG's success and its potential for continued growth in the blockchain gaming and DeFi space.

Yield Guild Games's risks

Yield Guild Games (YGG) is associated with several risks. These include:

  • Volatility Risk: The value of YGG can fluctuate significantly due to market conditions, making it a high-risk investment.
  • Liquidity Risk: There may be limited liquidity for YGG, making it difficult to buy or sell the token quickly and at a fair price.
  • Short History Risk: YGG has a relatively short history, which can make it challenging to assess its long-term viability.
  • Demand Risk: The success of YGG is dependent on its adoption by users, and if demand is low, the token's value may decline.
  • Forking Risk: Changes to the underlying blockchain or the YGG protocol can lead to forks, which can negatively impact the token's value.
  • Code Defects: Bugs or security vulnerabilities in the YGG code can compromise the integrity of the platform and the token.
  • Regulatory Risk: Changes in regulatory environments can affect the use, transfer, or value of YGG.
  • Electronic Trading Risk: Technical issues with trading platforms or exchanges can impact the ability to buy or sell YGG.
  • Cybersecurity Risk: Hacking or other cybersecurity breaches can compromise the security of YGG and its supporting blockchain.
  • Adoption Risk: The success of YGG is dependent on the growth and adoption of the metaverse economy and the popularity of NFTs as digital collectibles.
  • Legal and Regulatory Risks: Lack of legal or regulatory obligations for the YGG community to disclose material information can make it difficult for investors to make informed decisions.
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Did Yield Guild Games raise funds?

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Yield Guild Games’s team

  • Gabby Dizon: Co-founder of Yield Guild Games (YGG), known for his passion for computer games and his role in shaping the Web3 gaming industry.
  • Beryl Li: Co-founder of YGG, with a background in finance and expertise in financial use cases for DeFi and NFTs.
  • Owl of Moistness: Co-founder and anonymous developer, met through the Axie Discord community.
  • Jen Yu: Head of Design at YGG, involved in key discussions and AMAs about the platform's development.
  • Mench Dizon: Country Manager of YGG Pilipinas, responsible for organizing events like the Web3 Games Summit and promoting YGG's activities in the Philippines.

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