Play-to-earn is no longer a strange term when participating in games built on Blockchain. One of them is Yield Guild Games, a DAO focusing on investing in projects in the Gaming/NFT segment. So what does YGG mean? How does it work? Let’s explore with Coinminutes through the article below!
What Does YGG Mean?
Yield Guild Games is a decentralized autonomous organization (DAO), investing in NFT tokens such as assets, pets, and land,… on Blockchain Games. The organization’s mission is to create the largest virtual world economy, optimize the assets of the gaming community, and share profits with YGG holders.
Yield Guild Games plans to integrate NFT assets in Games with DeFi (decentralized finance) to provide financial activities such as investing, staking, and indexing. This will make it easier to attract Stream investment into games and increase the value of the entire Game ecosystem in the market.
Currently, Yield Guild Games owns a very large community of gamers participating in the most famous Blockchain games on the market such as Axie Infinity, CryptoBlade, Sandbox, and more.
How Do Yield Guild Games Work?
The essence of YGG is a way to maximize the value of NFTs used in blockchain-based games. Its protocol is automated by smart contracts guided by consensus through a DAO based on the governance and voting proposals of a distributed network of token holders.
Yield Guild Games formulas work as follows:
- Build a global community of gamers who play to earn money, and who compete for in-game rewards. For example, players in Axie Infinity earn tokens from wins.
- Generate revenue through renting or selling YGG-owned NFT assets for tokenization. For example, reselling land in The Sandbox or renting Axie to players as part of a profit-sharing model, called a scholarship.
- Allows the community to participate in the DAO by passing proposals and voting.
- Coordinate research and development for gamers in the DAO to arbitrage profits by competing in games related to the metaverse.
Play-To-Earn Gaming With Yield Guild Games
The best way to start playing to earn money with YGG is to join the Yield Guild Games community on Discord. Here you will find many other players and the game developers themselves. Making money from playing Yield Guild Games is quite simple. YGG allows you to borrow NFTs, which you can then use to start earning in-game prizes. NFTs and other cryptocurrencies can be sold on the market in exchange for your rewards.
Yield Guild Games uses an NFT rental program called scholarships to increase the value and usability of gaming NFTs. To start, the Axie Infinity community has an idea to help NFT owners and gamers interested in making money by playing video games.
For a percentage of their in-game prizes, Axie owners can lend their game assets to new players as part of Axie Infinity. Scholars can only use NFTs in games because the process is handled by smart contracts running on the blockchain. Trading and transfer of NFTs can only be done by the management (owners).
On the other hand, Yield Guild Games provides new players with NFT assets so they can start playing and receive in-game prizes under a revenue-sharing model. A portion of students’ revenue is shared with their managers, but they don’t need to invest any money upfront. In addition to NFTs, community managers will guide and guide new players.
Yield Guild Games Token
What Is YGG Token?
Yield Guild Games Token is the official token of the Yield Guild Game community, released and developed by Yield Guild Games. This is also a collective index of NFTs in the Metaverse world.
YGG Token aims to build the most stable virtual gaming world economy by making the most of your community-owned assets and rewarding all these token holders. Besides, YGG helps different parts of YGG DAO operate smoothly, is the lifeblood that binds members of the organization together, and is the main currency to pay for transactions in YGG DAO
Key Metrics Yield Guild Games
- Token Name: Yield Guild Game.
- Ticker: YGG.
- Blockchain: Ethereum.
- Token Standard: ERC-20.
- Contract: 0x25f8087ead173b73d6e8b84329989a8eea16cf73
- Token Type: Utility, Governance.
- Total Supply: 1,000,000,000 YGG.
- Circulating Supply: 87,906,250 Yield Guild Games.
YGG Token Allocation
- Community: 45%
- Investors: 24.9%
- Founder: 15%
- Treasury: 13.3%
- Advisors: 1.85%
How To Get YGG Token
The main way to own Yield Guild Games tokens is to buy them on exchanges, or you can perform in-game tasks to receive rewards.
Where Is The YGG Token Available?
Currently, Yield Guild Games tokens are traded on many different exchanges with a total daily trading volume of about 51.7 million USD. Exchanges listing this token include Uniswap, Sushiswap, MEXC, OKEx, Gate.io, BigONE,…
Is Yield Guild Games a Good Investment?
Yield Guild Games is a project created with the aim of building the world’s largest virtual world economy. The project will focus on the following play-to-earn games: Axie Infinity, The Sandbox, and League of Kingdoms.
Most blockchain experts are very optimistic about the future prospects of Yield Guild Games and agree that Yield Guild Games is a good investment. Many even believe that Yield Guild Games could soon become one of the most valuable projects in the NFT sector in the future.
YGG is suitable for investors who only care about profits, not spending time playing games trying to earn in-game NFT assets.
So if you want to keep up with the play-to-earn and NFT trends, you can buy YGG and invest in this community. If you are a professional gamer and want to play and make money, perhaps Yield Guild Games will not be suitable.
Above is an overview article about What YGG is and How it works. Hopefully, through this article, you will have some basic information about this project to make your own investment decision. Wishing you a successful investment!