What is Yield Guild Games?

YGG is a popular altcoin among investors. However, before you Trade YGG,, it is vital that you understand what you are investing in. Let's find out what's YGG and how it functions.

Yield Guild Games (YGGs) is a DAO that invests in NFTs used in virtual worlds and blockchain-based games. The DAO’s goal is to create the largest virtual economy in the world, optimize its assets for maximum utility and share profits with its stakeholders.

Yield Guild Games has created a community of players and investors who earn money by investing in NFTs in decentralized games. The platform became more popular during the pandemic, which increased people’s interest in play-to-earn games.

How is Yield Guild Games different?

The DAO’s main income comes from using YGG-owned NFT assets directly or indirectly through a rental scheme where guild members use the assets and give some of the in-game rewards to YGG. For in-game assets like land, third parties (non-guild members) can generate income by doing economic activities on that land

NFT ownership will benefit from an increase in the economic value of the in-game asset reflected in its NFT price on the open market.

The project also offers the following:

• A native token called YGG is used for governance and rewards
• A community of over 200,000 players from different countries and backgrounds
• A portfolio of over 40 games and metaverses that support play-to-earn models

How Many YGG tokens Are There?

Yield Guild Games has a maximum supply of one billion YGG tokens and a circulating supply of 209.6 million YGG tokens as of February 2023.

The company has allocated 45% of the total token supply to support its community members, who will receive them gradually over four years. Another 40% of the tokens are reserved for investors (24.9%) and founders (15%), while the remaining 15% are for the company’s treasury and advisors.

Network security

The YGG network is secured by using subDAOs, multisig hardware wallets and smart contracts. These technologies allow YGG to manage its assets and activities in a decentralized and secure way. Here are some more details:

SubDAOs enable YGG to delegate authority and responsibility to different game communities within its network. Each subDAO can have its own governance structure and decision-making process, but it also follows the vision and mission of the main YGG DAO. This way, YGG can foster diversity and innovation while maintaining alignment and coherence.

Multisig hardware wallets protect YGG’s assets from unauthorized access or theft. By requiring multiple signatures or approvals from different parties to execute a transaction, multisig hardware wallets ensure that no single person or entity can control or misuse the funds. This way, YGG can enhance accountability and trust among its stakeholders.

Smart contracts facilitate YGG’s operations and interactions on the blockchain. By using self-executing agreements that run on a blockchain, smart contracts can enforce the rules and terms of a contract without intermediaries or third parties. This way, YGG can enable trustless transactions, automation, and transparency.

Founders

The company behind Yield Guild Game is a game studio based in Manila, founded by Gabby Dizon, who was part of the team that launched the Axie Infinity and Yearn Finance Communities. The other co-founders are Beryl Li and Owl of Moistness. Beryl Li is an entrepreneur, a Cambridge University graduate who was also the president of the Cryptocurrency Society in 2016. She is also a co-founder at CapchainX and a licensed financial consultant. Owl of Moistness is a blockchain developer; he has built algorithms for many bots and NFTs, including Axie Infinity.

The Yield Guild Game team now has more than 20 members, with Nolan Manalo (also known as Nate) as the head of gaming operations.

Where can you buy YGG?

YGG is available on the licensed cryptocurrency exchange CryptoForce and several other national and international exchanges.

Disclaimer: Cryptocurrencies are highly volatile and subject to market, technical, and regulatory risks. Crypto trading requires one’s own diligence, and Cryptoforce will not be responsible for any losses incurred. Any information provided here should not be regarded as Cryptoforce’s technical or financial advice