Yield Guild Games is a global play-to-earn gaming community functioning as a decentralized autonomous organization (DAO) operating on the Polygon network. The decentralized community aims to bring together gamers who wish to explore monetization opportunities from leading blockchain-based games, including Axie Infinity, The Sandbox, League of Kingdoms, and more.
The YGG community members consist of players, contributors, and investors interested in the Play-to-Earn sector of the crypto market. The YGG DAO collectively votes on and decides which games to play, invest in, and how to use in-game assets. The earnings and rewards accumulated based on these decisions are then shared among the DAO’s members.
The gaming guild initiative helps lower the entry barrier and make earning money from playing blockchain games more accessible to a broader audience. In addition to supporting leading blockchain games through investment, the Yield Guild Games DAO community also interacts with each other in the metaverse to discuss strategies and share ideas on becoming better gamers.
YGG is the native token of the Yield Guild Games ecosystem and functions as its governance token, giving token holders the right to become DAO members. YGG tokens represent voting rights within the YGG DAO and can also be used as incentive tokens to be distributed as rewards for contributing to staking vaults.
Yield Guild Games serves several purposes, bringing together the world of GameFi with DeFi and NFTs to offer a lucrative opportunity to crypto investors and blockchain gamers. YGG aims to leverage its decentralized community through the DAO to provide the maximum possible value of NFT assets used by leading blockchain games.
The YGG DAO consists of a global community of play-to-earn gamers who wish to generate revenue from playing blockchain-based games and collecting as many rewards as possible. In addition, Yield Guild Games aims to generate revenue by renting or selling YGG-owned NFT assets for a markup, such as reselling LAND in The Sandbox or renting Axies for Axie Infinity players to maximize their reward generation potential.
The project functions by encouraging YGG token holders and DAO members to submit and vote on others’ proposals that decide which games to invest in or support. Through these votes, the guild can maximize its revenue generation potential, making it a lucrative opportunity for investors in the GameFi space as well.
In addition to monetizing YGG-owned NFT assets through resales or rentals, Yield Guild Games also generates revenue by conducting economic activities on its in-game land. This revenue could also be generated by third parties, not members of the YGG DAO.
The NFTs owned by the Yield Guild Games DAO will rise in economic value upon proper use by gamers that the project supports. The revenues thus earned would increase the value of YGG token and be shared as rewards among the Yield Guild Games community members.
Yield Guild Games was co-founded by a Manila-based game studio owned by Gabby Dizon and fintech entrepreneur Beryl Li in 2018. Dizon was part of the team behind launching other successful crypto projects, such as Axie Infinity and Yearn Finance.
The idea originated from Gabby - a gaming industry veteran who decided to lend his own Axie NFTs to players who couldn’t afford to buy their own to start playing Axie Infinity. His actions helped lower the entry barrier for gamers, especially in emerging markets, making monetization opportunities from blockchain gaming more accessible to players with limited capital.
The idea came after Axie Infinity went viral in the Philippines as an opportunity for several users to earn passive income during the COVID-19 pandemic and lockdown. The duo co-founded Yield Guild Games as an initiative that could onboard millions of players into the lucrative world of blockchain games and allow them to reap the rewards from participating in GameFi, even if they could not invest in buying expensive NFTs to get started.
In July 2021, Yield Guild Games announced their token sale via an Initial Dex Offering (IDO) listing on MISO by SushiSwap. The project raised $12.5 million in the public token sale round. The project also raised funds from prominent investors such as Crypto.com Capital, Animoca Brands, Solana Ventures, and Polygon.
Yield Guild Games could be an interesting crypto asset to include in your portfolio if you wish to invest in and profit from the GameFi sector of the crypto market. As a project focused on driving participation in the P2E market through its initiatives, the Yield Guild Games price could head higher as more players enter the world of blockchain gaming through its platform.
As more players use YGG’s NFTs to play popular blockchain games in the market, the guild could earn higher revenues, helping the YGG to USD price head higher. The Yield Guild Games price could also increase as the DAO announces investment in more blockchain gaming projects.
In addition, news of new fundraising for the YGG project from prominent investors further contributes to an uptrend in the price of Yield Guild Games token. Such information increases investor confidence and helps boost the YGG price statistics.
While it is impossible to make an accurate Yield Guild Games price prediction over any duration, rising adoption of its services by gamers worldwide, new partnerships forged and gaming projects supported by the DAO, news of increased investment in the project, a bullish sentiment among investors towards the crypto market could contribute to taking the Yield Guild Games price and market capitalization higher.
$YGG is the native token of Yield Guild Games. Here are some of its most popular applications:
YGG token holders can become members of the Yield Guild Games’ decentralized autonomous organization (DAO). The members can then enjoy voting rights on others’ proposals and submit their own proposals on how the initiative’s future evolves, what new games the guild can support, and other recommendations on how to raise revenue.
$YGG can also be staked via the YGG Reward Vaults. Staking YGG via this feature helps you provide more value to the ecosystem and the token.
Trade YGG against other cryptocurrencies to profit from changes in market conditions. You can buy or sell Yield Guild Games against other digital assets or hold it long-term if you believe in the future potential of the Yield Guild Games project. Check the current price of Yield Guild Games, YGG live market cap, circulating supply, and 24-hour trading volume, and analyze the Yield Guild Games price chart before you trade YGG in the market.
You can generate passive income by holding YGG via the KuCoin Crypto Lending service. Use this feature to lend liquidity for YGG on our platform over seven days, 14 days, or 28 days. You can earn attractive daily interest and grow your YGG holdings in a secure and risk-free manner.
Other crypto companies in the gaming space that can be considered as Yield Guild Games’ competitors include Polemos, Playkey, and Horizon. Other companies in an area similar to YGG include Ancient8, Freedom Nation, 3D Gaming Guild, Black Sheep Guild, and more.
As the GameFi sector expands and becomes even more lucrative for players and developers, Yield Guild Games could face stiff competition from more entrants into the gaming guild space. Such initiatives aim to lower barriers to entry into blockchain gaming and ensure that more players enjoy opportunities to earn from playing games.
Here’s how you can enter the world of play-to-earn gaming with the help of Yield Guild Gaming:
1. Visit the Yield Guild Gaming app page. Connect your wallet to the app.
2. Mint your Guild Badge. This NFT serves as your key to entering the YGG metaverse and officially becoming a part of the gaming guild. Ensure your wallet has sufficient funds to mint the badge by buying ETH on KuCoin or other supported platforms and transferring your tokens into your wallet.
3. Contribute to the guild by participating on its Discord channel or interacting with its official accounts on social media. You can win rewards such as tokens or NFTs for your contributions.
4. As a member of the YGG gaming guild, you can start borrowing NFTs to participate in P2E games the guild has partnered with, e.g., Axie Infinity. The rewards you earn can then be used to buy NFTs from the guild or cashed out.
Yield Guild Games offers several ways to generate revenue and grow your crypto holdings. Let’s take a look at some of the popular options:
You can buy or sell YGG in the crypto market to profit from changing market conditions. Check the latest Yield Guild games price, market cap, and crypto news before trading YGG to minimize losses.
Stake your $YGG tokens via the YGG Reward Vaults based on the game you wish to support. The DAO will use the tokens you stake via these vaults to invest in NFTs that can make playing the particular game more accessible. You can earn rewards in YGG for contributing and growing your token holdings.
KuCoin’s Crypto Lending feature offers a safe and risk-free way to earn YGG. Lend liquidity for the token over seven days, 14 days, or 28 days to earn daily interest and grow your holdings safely.