Yield Guild Games (YGG) is a guild of players who focus on “win-win” games based on blockchain technology. It is a society that invests in NFT assets and brings together blockchain players from all over the world. Their goal is to create a network of players and investors to help each other start and grow in the NFT gaming space.
The article was originally written and published at Binance Academy
Since the success of Axie Infinity, the pot-pot (P2E) industry has grown rapidly. Although the P2E trend attracts millions of people around the world, gaming NFTs are not available to many players, especially in developing countries. Yield Guild Games builds the P2E community and offers players solutions to start playing NFT.
Yield Guild Games (YGG) is a decentralized Autonomous Organization (DAO) that invests in non-convertible tokens (NFT) used in blockchain-based games. These games are part of a broader concept known as metaverse. The term metaverse refers to digital land, resources, and so on. including many components of the blockchain-based digital world.
The idea of creating a global community of winning players to play was born in 2018. YGG co-founder and CEO Gabby Dizon noted that blockchain-based games are widespread in Southeast Asia. At the time, many users wanted to start playing the popular NFT game Axie Infinity, but were short of money to buy in-game characters called Axies.
Realizing that blockchain-based games could be a powerful tool for people in developing countries, Dizon began lending Axie to other players who could not afford their games. This inspired him to create the Yield Guild Games in 2020 with Beryl Lee to help others thrive in the world of NFT and blockchain gaming.
Yield Guild Games combines Decentralized Finance (DeFi) and NFT to create a metaverse economy in the Ethereum blockchain. YGG DAO is an open source protocol with rules applied by smart contracts. The organization serves many different purposes, such as enforcing governance decisions through community voting, awarding bonuses, and facilitating NFT borrowing.
YGG consists of numerous SubDAOs, consisting of groups of players from a particular NFT game or geographical area. Each SubDAO has its own set of rules for managing activities and resources in the relevant game-winning game.
This model allows players of the same NFT game to work together to increase profits. It also allows guild members to borrow and use community-owned NFT resources to earn in-game rewards. In return, borrowers of NFTs through the DAO can share a portion of their earnings.
At YGG, all NFTs and digital assets are stored in a community-managed YGG warehouse. Vault provides NFT to each SubDAO and contains P2E resources from many blockchain games.
The game uses an NFT loan program known as YGG DAO Scholarships to increase the value and benefits of NFTs. The idea was first introduced by the Axie Infinity community to benefit both NFT owners and players who want to make a profit.
At Axie Infinity, Axie owners can borrow their assets to help new players get started for one percent of their in-game bonuses. The process is carried out using smart contracts in the blockchain so that users participating in the scholarship program can only use NFT in the game. Only the manager (owner) can trade or transfer with NFT.
Similarly, YGG offers scholarships to new players under the income-sharing model, where they can play and win prizes by earning NFT resources. NFT borrowers do not have to invest any money to get started, but they do share some of their earnings with their managers. In addition to assets, new players will receive training and instruction from community managers.
YGG Scholarships are not limited to NFT at Axie Infinity. YGG Treasury also owns virtual lands in The Sandbox and League of Kingdoms, virtual cars in F1 Delta Time, and more in many win-win games.
As mentioned, YGG DAO mainly consists of SubDAO. You can think of SubDAO as localized communities within the main YGG DAO. These local communities are made up of players from a particular P2E game or space. For example, SubDAO for Axie Infinity players, SubDAO for The Sandbox players, another SubDAO for Southeast Asian players, and so on. By grouping players in different SubDAOs, they can discuss game strategies and help each other as effectively as possible.
Each SubDAO manages its activities and assets in accordance with its own rules and conditions of the game, but still YGG brings revenue to the DAO. SubDAO has a community leader, a wallet and a SubDAO token. Token owners can share the profits from the game based on their contributions. They can also make suggestions and vote on SubDAO management decisions related to the acquisition of more NFT or asset management.
Yield Guild Games (YGG) is an ERC-20 token that entitles owners to participate in the management of the YGG DAO. Its total supply is 1 billion tokens, and 25 million YGGs were sold in 2021 at SushiSwapa through the Initial DEX Offer (IDO). To support the community, YGG allocated 45% of the total supply, and this amount was allocated over a four-year period to be gradually distributed to users.
As a sign of the native platform, YGG is used to pay for services on the Internet. It can also be collected to win YGG awards or used to unlock exclusive content on your organization’s Discord server. In addition, YGG owners can make suggestions and vote on decisions about technology, products, designs, token distribution, and the overall management structure of the guild. Finally, the best offers to be applied in DAO will be rewarded with YGG tokens.
YGG DAO takes a different approach to productivity than most DeFi staking platforms. Typically, tokens are collected for a fixed interest rate. At YGG, each box office represents a reward program for a specific job performed by YGG. For example, one cashier can provide income based on the results of a scholarship program, while another rewards collectors based on the Axie breeding program.
YGG also plans to build a universal super-index warehouse that will represent all revenue-generating activities in its ecosystem. This box office will reward collectors based on guild revenues from subscribers, gadgets, rents, cash growth and the performance of the SubDAO index.
Token holders can collect them as part of the activities they support, and rewards will be distributed in proportion to the amount of YGG they collect through smart contracts. Depending on how the repository is programmed, rewards may include YGG tokens, Ether (ETH) or stabilcoins.
You can buy Yield Guild Games (YGG) on cryptocurrency exchanges like Binance.
1. Log in to your Binance account and log in [Handel]. Select Classic or Advanced mode to get started.
2. Click on it [BTC/USDT]open the search bar and type “YGG” to see the available trading pairs. We will use YGG / BUSD as an example.
3. Go to the field [Spot] on the right and enter the amount of YGG you want to receive. In this example, we will use the Market Order. Click here [Kup YGG]to confirm your order and will be transferred to your purchased YGG Spot Wallet.
With a unique income distribution model, YGG is building a decentralized society in the real world. It gives participants the opportunity to develop in virtual worlds thanks to an innovative gaming economy. As Metaverse projects grow, NFT guilds such as Yield Guild Games may benefit from an influx of new players and cryptocurrency enthusiasts seeking to win NFT games through an alternative source of income.
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