Yield Guild Games is a DAO that specializes in the investment of NFTs in the blockchain gaming ecosystem.
Yield Guild Games or YGG is a decentralized autonomous organization (DAO), specializing in the investment of non-fungible tokens typically used in the blockchain gaming sector.
YGG aims to build the most stable virtual and gaming world economy, by leveraging its community-owned assets to their maximum and reward all token holders. Yield Guild Games has managed to effectively merge the intriguing protocol behind NFTs with decentralized finance (DeFi).
YGG’s primary source of revenue is through the sale and rental of company-owned NFT assets for profits. Additionally, guild members can benefit from the platform’s unique rental initiative through which assets can be used in the exchange for in-game prizes, that are given directly to YGG.
About the Token
For a gaming project to be placed under YGG DAO protocol, the following play-to-earn elements ought to be present:
- A virtual land-based economy that can be acquired
- A virtual economy with a native token
- Play-to-earn functionality where players are rewarded native tokens for in-game activity.
However, during the platform launch, the team focused mainly on projects and games with great community support, as well as a tremendous potential to blossom in the industry.
YGG involvement in the play-to-earn gaming sector will continue to expand. The platform has already built a considerable portfolio, with games that fulfill the criteria and necessary yield requirements through DAO governance.
Under YGG DAO, the community will influence the voting processes heavily. Community members will have the power to determine token reward distribution to holders. Additionally, staking vaults will be introduced to directly receive rewards from smart contracts into designated accounts.
Yield Guild Games was listed on Binance on the 24th of September 2021. The trading pairs available are YGG/BTC, YGG/BNB, YGG/BUSD, and YGG/USD
Yield Guild Games (YGG), a key investor in the “play-to-earn” arena, has teamed up with the stablecoin-focused decentralized finance (DeFi) project HaloDAO to allow its gamers to cash out using its stablecoin and gain yield.
In August, YGG received $4.6 million in a funding round led by venture capital firm Andreessen Horowitz (a16z) with the firm stating it plans to invest in digital assets in virtual worlds.
Last month, YGG and cryptocurrency exchange FTX also signed a sponsorship deal in which Axie Infinity players from developing countries will receive scholarship funds. The deal with FTX involves YGG loaning non-fungible tokens (NFTs) to players who cannot afford to buy their own, under a revenue-sharing agreement.
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