Yield Guild Games (YGG)

About Yield Guild Games (YGG)

What is Yield Guild Games?

Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) that focuses on utilizing non-fungible tokens (NFTs) in virtual worlds and blockchain-based games. YGG’s mission is to create a thriving virtual economy by optimizing community-owned assets for maximum utility and sharing the profits with its token holders. The platform brings together players and investors who participate in play-to-earn (P2E) games. YGG invests in NFTs and allows users to either directly own and utilize the assets or rent them through a unique revenue-sharing model. This approach gained widespread popularity, especially during the pandemic, as gaming saw a boom and more people sought to earn through gaming.

How does Yield Guild Games work?

YGG operates by investing in NFTs used in virtual worlds and blockchain-based games. The core of YGG’s business model is the utilization of these NFTs, which are either rented out to guild members or used directly in games. The revenue generated from these NFTs is then shared with YGG’s community. For example, when in-game assets like virtual land are utilized, third-party non-guild members can also earn revenue by conducting economic activities on that land, sharing a portion of the profits with YGG.

YGG’s rental model allows users to participate in the play-to-earn ecosystem without needing to own NFTs upfront. In this system, users can access assets owned by YGG and share in the in-game rewards or earnings generated from these assets. Additionally, YGG incentivizes users by rewarding them with native tokens for their in-game activities. To enhance security and decentralization, YGG has established subDAOs to manage specific game assets. These subDAOs are governed by multisignature wallets, ensuring that YGG’s assets are safely held and controlled by multiple trusted parties.

What are the potential use cases for Yield Guild Games?

YGG’s primary use case revolves around blockchain gaming and virtual economies. It provides players and investors with the opportunity to participate in the emerging play-to-earn ecosystem. Users can earn revenue by acquiring, renting, and utilizing NFTs, which are used in various virtual worlds and blockchain-based games. This approach allows individuals to earn native tokens from in-game activities, creating a real-world income stream through gaming.

As a decentralized organization, YGG’s governance model also provides an interesting use case. Token holders have the ability to participate in decision-making, submit proposals, and vote on changes within the guild. This allows for a community-driven approach to governance, where the direction of the organization and the games it supports is shaped by its participants.

Additionally, YGG’s success can pave the way for more complex and sustainable virtual economies where players, creators, and investors can collaborate, trade, and earn in a decentralized and transparent manner.

What is the history of Yield Guild Games?

Yield Guild Games was founded by Gabby Dizon, Beryl Li, and Owl of Moistness. Gabby Dizon, a seasoned gamer and blockchain enthusiast, started lending his NFTs to others to experience blockchain-based games as early as 2018. What began as an informal effort grew into a fully-fledged organization, and YGG was officially launched in 2020. The DAO quickly gained attention as the popularity of play-to-earn games exploded, particularly during the COVID-19 pandemic.

The YGG project began its token sales and officially launched its native YGG token on July 27, 2021. The token is used for governance within the organization and for rewarding members. As of the latest data, approximately 74.3 million YGG tokens are in circulation, out of a maximum supply of 1 billion tokens. The project has allocated 45% of the total token supply for its community, with plans to gradually distribute them over a four-year period.

YGG’s vision has resonated with a global community of gamers, with the organization continually expanding its activities and influence in the world of Web3 gaming. Through its investments in virtual assets and NFTs, YGG has become a key player in the decentralized gaming space, driving forward the future of blockchain-based games and virtual economies.