How Yield Guild Games (YGG) can give gamers a boost
The word “guild” originated from medieval times to refer to craftsmen or merchants who gathered themselves in honor-bound bands to hone and preserve their skills and knowledge. Fast forward to the age of online gaming and the tradition has taken on a somewhat different meaning–this time among gamers who team together online to finish quests or fight rival groups across various virtual fantasy worlds.
Yield Guild Games (YGG) is one such community that embodies this spirit of cooperative gameplay and takes it a step further. Focusing exclusively on play-to-earn (P2E) games, YGG gets together gamers from all over the world to help them increase their profits, or even to get them started playing games that may not be readily affordable.
After all, not all P2E games come cheap. Typically, blockchain games require their players to invest in non-fungible tokens (NFTs) in order to begin playing, and the more popular the game–the more expensive the NFTs can be. It can be remembered for example, how the price of Axie Infinity NFTs easily ranged from $800 to $1000 back in 2020 and 2021–which is way beyond the means of most gamers, especially from developing countries like the Philippines. But thanks to renting platforms like YGG, NFT prices didn’t stop Filipino players from getting into the game through “scholarships”, with Filipino players eventually making up 40 percent of Axie Infinity online traffic.
YGG thus established its NFT-sharing platform which allows players to work and help each other out. Using smart contracts under decentralized autonomous organizations (DAO) assigned for different games, players can rent out their NFTs to each other and maximize their profits and rewards. This setup can be very empowering especially for beginners who may not have their own NFTs yet–giving them a boost to eventually work their way up to purchasing their own NFTs and building their own collection.
YGG keeps its NFTs in a community treasury. But it's not only in-game items that are kept there for players to use. YGG even has community-owned virtual land in various games from Axie Infinity, League of Kingdoms, and The Sandbox, and even in yet-to-be released games such as Star Atlas and Illuvium.
What can you do with the YGG token?
YGG is an ERC-20 token that drives the YGG economy. It’s used primarily for payment for transactions within the platform, but it can also be used in many other ways:
YGG can be staked for rewards - Staking YGG in the DAO and subDAO vaults can be used to earn passive income from the platform. Staking YGG incentivizes users to hold on to their tokens instead of cashing them out.
YGG unlocks content - YGG can be used to access exclusive content not only on the YGG platform but also in other official channels such as in YGG Discord.
YGG can be used for community voting - A guild would not be a guild if it isn’t run by its own members, hence YGG is also a governance token that gives its holders the privilege of voting on community matters such as future updates and resource allocations.
YGG has a maximum supply of 1 billion tokens with a current circulating supply of 115 million as of July 2022. It’s current market cap stands at $100 million.
Out of its total supply, 45% are allocated to the community, 13.3% to the treasury, while the rest are allocated for investors, founders and advisors with a pre-determined vesting period spread across two years beginning upon its launch in 2021.
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