Yield Guild Games (YGG) stands at the forefront of the growing play-to-earn (P2E) blockchain gaming movement. This innovative gaming guild invests in NFT assets and connects blockchain gamers globally, creating a robust community that thrives in the virtual worlds of blockchain-based games. As the metaverse continues to expand, YGG is leading the charge by offering opportunities for gamers and investors to collaborate and grow in the NFT gaming space.
The Rise of Blockchain Gaming
The concept of play-to-earn games gained significant traction with the success of Axie Infinity. These games allow players to earn real-world value through in-game activities, making them particularly attractive in regions with limited economic opportunities. However, the high cost of entry, particularly for gaming NFTs, has been a barrier for many potential players. Yield Guild Games offers a solution by building a community that supports and empowers players through NFT rentals and scholarships.
Understanding Yield Guild Games (YGG)
Yield Guild Games is a Decentralized Autonomous Organization (DAO) that invests in non-fungible tokens (NFTs) used in blockchain games. The term “metaverse” encompasses the various elements of blockchain-based digital worlds, including virtual land and digital assets. YGG aims to create a global play-to-earn gaming community that helps players, especially those in developing countries, participate in the NFT gaming space.
Origins and Vision
The idea for Yield Guild Games emerged in 2018 when Gabby Dizon, YGG’s co-founder and CEO, noticed the growing interest in blockchain gaming in Southeast Asia. Many players were eager to join popular NFT games like Axie Infinity but lacked the funds to purchase the necessary in-game characters. Understanding the potential of blockchain gaming to empower people in developing countries, Dizon started lending his Axies to other players. This inspired him to co-found Yield Guild Games with Beryl Li in 2020, with the mission of helping gamers succeed in the world of NFTs and blockchain gaming.
How Yield Guild Games Operates
YGG is composed of multiple SubDAOs, which are groups of players focused on a specific NFT game or geographic location. Each SubDAO has its own set of rules for managing its activities and assets. This structure allows players of the same game to collaborate and maximize their in-game earnings. It also enables guild members to rent and use community-owned NFT assets to earn rewards, with NFT owners sharing a portion of the earnings.
The YGG Treasury
All NFTs and digital assets within YGG are stored in the YGG Treasury, which is controlled by the community. The Treasury provides NFTs to each SubDAO and includes P2E assets from various blockchain games. This centralized approach ensures that the guild’s resources are used effectively and benefit all members.
YGG Scholarships: Empowering Players
To maximize the utility of gaming NFTs, YGG employs a rental program known as scholarships. This concept was initially popularized by the Axie Infinity community and involves NFT owners lending their assets to new players. These “scholars” can use the NFTs to earn in-game rewards, sharing a portion of their earnings with the owners. YGG has extended this model to include virtual lands in The Sandbox, virtual cars in F1 Delta Time, and other play-to-earn games. In addition to NFT rentals, new players receive training and guidance from community managers, helping them succeed in the NFT gaming space.
Governance and Community Involvement
As a DAO, YGG is governed by its community members, who participate in decision-making through the YGG token. This ERC-20 token allows holders to vote on various aspects of the guild, such as technology, projects, and token distribution. The YGG token also serves as the platform’s native currency, used for paying for services and unlocking exclusive content on the YGG Discord channel. Token holders can stake their YGG tokens to earn rewards and support the guild’s activities.
Yield Guild Games Token (YGG)
The YGG token has a total supply of 1 billion tokens, with 25 million sold during an Initial DEX Offering (IDO) on SushiSwap in 2021. To support the community, 45% of the total supply is being gradually distributed to users over four years. YGG tokens can be staked in YGG vaults, which offer rewards based on the performance of specific activities within the guild. These rewards can include YGG tokens, Ether (ETH), or stablecoins.
YGG Vaults and Yield Farming
YGG’s approach to yield farming differs from traditional DeFi platforms. Instead of offering fixed-rate interest, each YGG vault represents a token reward program for a specific activity within the guild. For example, one vault may provide rewards based on the performance of a scholarship program, while another focuses on the Axie breeding program. This allows token holders to stake their YGG tokens in support of specific activities, earning proportional rewards through smart contracts.
YGG also plans to develop a super index vault that represents all yield-generating activities within its ecosystem. This index vault will reward stakers based on the guild’s overall revenue, including subscriptions, merchandise sales, rentals, treasury growth, and SubDAO performance.
Future Prospects and Impact
Yield Guild Games is building a decentralized community that thrives both in the virtual and real world. By leveraging a unique revenue-sharing model, YGG offers participants the opportunity to succeed in the burgeoning NFT gaming industry. As metaverse projects continue to gain traction, guilds like YGG are well-positioned to benefit from the influx of new players and crypto enthusiasts exploring play-to-earn NFT games as an alternative income source.
Conclusion
Yield Guild Games has carved out a unique niche in the rapidly growing world of play-to-earn blockchain games. By combining DeFi principles, NFT assets, and community-driven governance, YGG is creating a metaverse economy that empowers gamers and investors alike. Through innovative programs like scholarships and SubDAOs, YGG is fostering a global network of players who collaborate to maximize their in-game earnings and participate in the governance of their virtual worlds. As the metaverse continues to expand, Yield Guild Games is poised to play a pivotal role in shaping the future of blockchain gaming and the broader digital economy.
