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20240411_YGG_YGG-ANNOUNCEMENT_NATIVE-DISPLAY(OLDLOGO).png

YGG: Leveraging a growing play-to-earn world

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PDAX

April 16, 2024

7 min read

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In a nutshell: The YGG token is Yield Guild Games’ native token, facilitating both rewards and governance. Yield Guild Games recognizes the growth potential of investing in play-to-earn gaming, and works with games, guilds, players, and digital asset traders alike to elevate both financial and gaming worlds.

As the much-lauded YGG token is now available to PDAX users, let’s bring you up to speed on what YGG is, what the token does, and why you might be interested.

First off, what is Yield Guild Games?

As an opener to understanding what YGG is, we can go straight to the source. According to their whitepaper:

Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) for investing in non-fungible tokens (NFTs) used in virtual worlds and blockchain-based games. The organization’s mission is to create the biggest virtual world economy, optimizing its community-owned assets for maximum utility and sharing its profits with its token holders.
YGG combines the best of the non-fungible token (NFT) and the decentralized finance (DeFi) space, bringing yield farming to game economies while adding value to these virtual worlds by developing the content and economy of these games.
We want to own and develop assets in the metaverse as we believe that virtual economies will be more valuable than real-world economies over time. At the same time, we want to create value in the virtual world for our guild members to thrive in a virtual environment – the competitive gamers, the artists, and content creators that populate the metaverse.

Put simply, YGG is a solid platform to be involved in if you recognize the potential of blockchain-empowered gaming, more commonly recognized as play-to-earn gaming. We don’t necessarily mean that you recognize it as a gamer—naturally it’s even better if you are one—but as a digital asset trader keen on acquiring and utilizing YGG tokens.

So, what is the YGG token?

As the name suggests, the Yield Guild Games token is the native token of the platform of the same name. Originally launched in 2021, the token has a fixed total of 1 billion tokens meant to be distributed over the course of several years, projected through to 2026. Given that YGG is a DAO, the baseline benefit for token holders is involvement in the platform’s governance. In principle, the more of it you have, the more of a say you have in the platform’s operating practices.

While voting and participating in the DAO is a prominent function of staking the YGG token, other benefits can also be earned through staking. Various activities within YGG and its regional sub-DAOs offer different rewards depending on which vault the token is staked in. The token can also be used to pay for specific services within the platform, which may vary over time and the sub-DAOs involved—more on that later.

What’s the gaming angle?

Now that you know what the token is, we can revisit the core concept of YGG via terminology that sounds less like the YGG whitepaper’s investorspeak and more like their aspirational language for play-to-earn gaming, which underscores the burgeoning web3 entertainment landscape we have today. From the official YGG wiki:

Yield Guild Games (YGG) is the world’s first and biggest web3 gaming guild where players can enrich themselves as they find their community, discover games and level up together.
As a decentralized network of gaming guilds focused on blockchain games and web3 education, YGG is committed to providing opportunities for its members to achieve success in the open Metaverse. The guild empowers its community to build their Metaverse résumé through initiatives such as Web3 Metaversity, and the achievement-driven community token distribution protocol, Guild Advancement Program (GAP).
YGG is also focused on supporting the burgeoning competitive web3 esports scene and has its own team of elite esports players, called YGG Elite, who have been competing and winning in various web3 game tournaments across the world.

At the time of writing, YGG is prominently involved in an extensive list of play-to-earn games, the first of which should be very familiar to Filipinos:

-> Axie Infinity

-> Big Time

-> Castaways

-> Castle Crush

-> Champions Ascension

-> Crypto Unicorns

-> EV.io

-> Illuvium

-> League of Kingdoms

-> My Pet Hooligan

-> Pixels.xyz

-> Splinterlands

-> The Sandbox

Even people completely unaware of web3 developments in the Philippines have heard about Axie Infinity’s explosive growth, and YGG is closely intertwined with the game and its progenitor, Sky Mavis. Quoting again from the YGG wiki:

From its roots with YGG Pilipinas in the Philippines, where the guild was established, to its global network of regional guild partners, and partnerships with over 80 blockchain games and infrastructure projects to develop the web3 ecosystem, YGG caters to an ever-expanding community of gamers and blockchain enthusiasts.

That ever-expanding community is evidenced by YGG’s regions: sub-DAOs located across the world, catering to unique geographical player contexts. As more games, guilds, and communities come into the YGG fold, these regions are expected to further grow and multiply, along with the rewards and functionality of the YGG token.

Do I need to be a gamer to make the most of the YGG token?

While there are obvious benefits to playing the gxames that YGG is collaborating with, even just as a digital asset trader your options can grow at a commensurate pace with the platform. As YGG rapidly evolves its network with every game, every region, and every guild it connects with, incorporating YGG tokens into your trading portfolio can only yield positive results (pun intended).

To stay abreast of YGG’s developments, we encourage you to monitor their main website, join their Discord, and follow their social media. Today’s gaming world is faster than you think, so YGG adapts and evolves just as quickly. If you want to make the most of what YGG has to offer, it’s best to keep up.

Unlock Speed and Savings with YGG on Ronin

With YGG now on the Ronin network and available on PDAX, traders can experience a seamless and cost-effective trading journey like never before. Ronin's lightning-fast transactions ensure swift order execution, allowing traders to capitalize on market opportunities without delay. Moreover, the reduced fees on the Ronin network translate to lower trading costs, enabling traders to maximize their profits. 

Don't miss out on the advantages of trading YGG on Ronin – join PDAX today and elevate your trading experience.

DISCLAIMER: PDAX would like to reaffirm that the statements in this article do not constitute financial advice. PDAX does not guarantee the technical and financial integrity of the digital assets and their ecosystems.  Trading with any cryptocurrency is subject to the user’s risk and own discretion and must be done after adequate and in-depth research and analysis.  

External links are provided for convenience and for informational purposes. They are not statements of PDAX and PDAX bears no responsibility for the accuracy, legality or content of said links.

For inquiries or complaints, please contact us through the following channels: Chatbot: https://pdax.ph or https://web.pdax.ph/ (click webchat feature); ‘Customer Support’ webpage at https://support.pdax.ph; Email: support@pdax.ph. Please provide us your name, email address, and any other information that we may need to identify you, your PDAX Account, and the particulars of the Order and/or Transaction on which you have feedback, questions, or complaints. If you already have a registered PDAX account, please provide us your registered name and use your registered email address.

The Philippine Digital Asset Exchange  (PDAX), Inc. is an entity regulated by the Bangko Sentral ng Pilipinas (BSP) https://www.bsp.gov.ph. You may get in touch with the BSP Consumer Protection and Market Conduct Office through the following channels: 

Email: consumeraffairs@bsp.gov.ph; 

Webchat: http://www.bsp.gov.ph (click webchat feature); 

Facebook: https://www.facebook.com/BangkoSentralngPilipinas

Direct Line: (02) 5306 2584 / (02) 8708 7087; Trunk Line: (02) 8708 7701 loc. 2584;  or SMS: 21582277 (for Globe subscribers only). 

For further details, you may refer to BSP's Inclusive Finance - Consumer Protection.

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