Who doesn’t love to earn an income while playing games? Yield Guild Games provides this luxury with its network of different Metaverse games and GameFi nature.
So, what is it? Can you really make money while playing games for fun? Is it paid? What if I don’t have money? Relax, we’ll explain it all in this guide. Let’s find out!
Introduction to Yield Guild Games (YGG)
Emerging from the core of the play-to-earn (P2E) blockchain gaming model, Yield Guild Games (YGG) is the early NFT-based platform for gamers.
By nature, it is a Decentralized Autonomous Organization (DAO) that incentivizes people to invest in non-fungible tokens (NFTs).
The platform is among the trendsetters that introduced the P2E concept, which allows people to earn while playing games.
The Guild Games are part of Metaverse, a virtual land that operates almost like a real world.
Through guild games you can earn money and purchase NFTs, allowing you to progress in the storyline and unlock new characters.
Or you can save the money and cash it out in the real world since (unlike traditional gaming currency) it is real money.
The Genesis of Yield Guild Games
In 2020, Gabby Dizon and Beryl Li founded the guild. At that time, Gabby Dizon soon found that his metaverse games were getting popular in the Southeast Asian region. However, people cannot afford the NFTs and in-game characters.
Since it was the bloom time of crypto, Web3, and GameFi, plus the concept of P2E was already introduced in 2018, he had an idea.
So, he started lending his Axies (in-game NFT characters of the game, Axie Infinity). One thing led to another, and he soon started Yield Guild Games with Beryl Li.
Core Features of Yield Guild Games
Yield Guild Games network blurs the boundaries between decentralized finance (DeFi) and NFTs, and creates a homologous metaverse where different gaming communities unite.
It is an open-source protocol that comprises multiple subDAOs, representing a particular game.
It enables gamers to stay within their NFT game and carry out their isolated set of operations, such as governance, rewards, and NFT rentals. Renting and lending are the core features of YGGs that shape its Play-to-Earn model.
Players can rent their owned limited NFTs, which are also playable characters in some games, to others.
When the other players earn through those NFT characters, they lend a portion to the owner. Since the game works on real-life digital currencies, the others earn real money and pay in cryptocurrencies. Hence, structuring the whole system.
Smart Contracts & Staking
Since the Yield Guild Games are based on the Ethereum Smart Chain Network, its decentralization is based on the Smart Contracts.
The governance proposals direct and automate the smart contracts’ direction and order to execute the features and operations.
Currently, the lending process is partially operated with the smart contracts, but the YGG developers are planning to fully integrate the smart contract system into the lending and renting mechanism. It will not only automate the whole mechanism but also bring transparency.
On the other hand, you can lock your Yield Guild Games tokens in the YGG vault to earn rewards and passive revenue.
Unlike traditional crypto staking, the YGG vault allows the holders to lock their tokens in different vaults based on different games.
Since all these games are interconnected, the users can still manage the tokens separately but under one operation.
For example, you can assign a YGG vault to hold the income from selling (say) Axies (the characters of the Axie Infinity game).
Plus, you can assign another vault to hold only the income from rental NFTs from a different game. It will diversify your income streams and make them more manageable.
YGG Tokenomics
YGG is a Yield Guild Games native token, built on ERC-20 protocol. The token allows its holder to perform governance tasks in games.
Its total supply is set to be 1 billion tokens, which experts estimate to be completely released before February 2027. Currently, more than 336 million YGG tokens are in the current supply.
From the total amount:
- 45.00% is reserved for the Community
- 24.92% is set for the Investors
- 15.00% is allocated to Founders
- 13.33% is locked for the Treasury
- 1.75% is kept for the Advisors
Its seed round in January 2020 raised $1.33 million, followed by $8.6 million in three different rounds. Its main sale in July 2021 raised more than $12.5 million, where the average price of a token was $0.04.
YGG in the Play-to-Earn Ecosystem
Although the whole model of play-to-earn is intriguing as players earn real money in games, Yield Guild Games has taken it to another level.
Take its flagship game, Axie Infinity for example. The developers have made the playable characters NFTs, which people can purchase with money.
However, those who cannot afford it, can rent the other player’s NFT characters to progress and earn income.
In return, they share a portion of their income with the owners. Hence, the lender and owner, both earn while playing the games.
The whole system is named scholarship, where the new members are scholars and the NFT owners are called community managers.
Just like Axie Infinity, several other games also work on the same mechanism with a different gameplay or storyline.
These include Champions Ascension, Big Time, Castaways, League of Kingdoms, and others. However, you can also enjoy some games for free without having an NFT requirement, like Ev.io.
Governance in Yield Guild Games
Due to the decentralization of the platform, the YGG token holders have the governance authority.
They send their proposals to the community pool where other community members cast their votes. The accepted proposal has the highest votes, and its winning voters get the reward.
Usually, the proposals in the governance model decide the technological upgrades, new game additions or in-game features, and governance restructures. But it may also involve token distributions for DAO, subDAO, and rewards.
When a single proposal stands out in the voting, its following members receive the rewards that smart contracts generate.
Acquiring and Utilizing YGG Tokens
Purchasing YGG tokens is not hard, given its mediocre popularity and sufficient community following.
The top crypto exchanges that offer YGG tokens include Binance, KuCoin, Crypto.com, Kraken, and OKX. However, you may find it on several other platforms as well.
The purchasing process is almost the same for all these exchanges. It may vary from platform to platform, but the core procedure is as follows:
- Select a cryptocurrency exchange and create an account on the platform.
- Complete the KYC since it is an essential step before buying any crypto coin or token on the platform.
- After verifying your identity, go to the ‘Buy Crypto’ section. Different platforms will offer you multiple options. They include purchasing through other cryptocurrencies, P2P transfers, balance on the platform’s wallet, or directly with your credit/debit card or bank transfer using fiat currencies.
- Select the method you want to use. For instance, if you are purchasing with your credit or debit card:
- Connect the platform with your bank.
- Insert your card details.
- Select YGG from the crypto coins list.
- Enter the amount you want to buy.
- Complete the required verifications and hit Purchase.
- The tokens will be transferred to your account after a while. You can either keep the YGG tokens there or transfer them to another external wallet.
With YGG tokens, you can use them to stake in YGG vaults for rewards, obtain exclusive NFTs or in-game content, participate in governance matters, vote for a proposal, or use them to get benefits in YGG Discord server.
Market Analysis: YGG Token’s Performance
At the time of writing, the token has been returning from a high bull run. Within the last three months, its prices have risen twice, from $0.44 to $0.88.
However, only a month ago, it reached its highest value in the last couple of years, when it surpassed the $1 mark, hitting $1.68 per token.
Since it is a crypto token, YGG’s demand and supply affect the majority of its value, other factors also play a significant role.
It includes the games, their performance in the gaming industry, and the involvement of the gamers. However, the current tides appear to be on YGG’s side.
Challenges and Opportunities for Yield Guild Games
Since Yield Guild Games offers a play-to-earn platform, it is also a great challenge for the network in itself. For instance, as the network is expanding, different games are continuously added, which brings scalability concerns.
Besides, its diverse ecosystem also increases regulatory issues, which sets it apart from other blockchain networks.
On the other hand, the P2E nature also opens new opportunities for YGG. Till now, Yield Guild Games has partnered with more than 101 gaming platforms and networks.
Some of them include bigger names, like Oasys, Ronin, Polygon, XPLA, Base, and others. Hence, its future in the GameFi and Metaverse sounds strong.
Future Roadmap and Developments
As Yield Guild Games are continuously gaining more and more players, joining the network, the team is expecting several advancements. Of course, one aspect is the addition of many new games.
However, they are also adding several features as well. For instance, their game, Superquests, is getting more blockchains integrated.
Due to these reworks and additions, crypto pundits are expecting its value to hit $3.00 by the end of 2024.
Conclusion: The Evolving Role of Yield Guild Games
Since its launch, Yield Guild Games has been a go-to option for many gamers seeking play-to-earn opportunities.
Being made of the Ethereum protocol, players can stake their YGG tokens in different YGG vaults for various rewards.
For more than a year, the trend of the YGG tokens has also been nothing exciting. But the recent spike in the charts suggests something interesting.
Currently, the trend is bearish, but experts think the bullish movement is near. So, keep your eyes on its charts for the value rise. Or you can benefit from its P2E model as well.
Yield Guild Games (YGG) Basics
Here are some factors that investors should consider before investing in Yield Guild Games (YGG).
Cryptocurrency Features | Yield Guild Games (YGG) (YGG) |
---|---|
Publisher or Developers | Yield Guild Games Association |
Headquarters (Registration Number) | |
Symbol | YGG |
Platform | |
Published Date (CMC Registration) | 2024-05-20 |
Max Supply | No limit |
Reliability Score of Yield Guild Games (YGG) in 2024
These are indexes mesuring the investment reliability of Yield Guild Games (YGG) conducted by Coin-Labs.com.
Investment Reliability Rating Items | Scores and Current Status |
---|---|
Company Activation Rate | / 10.0 CAR |
Communication Rate | / 10.0 CR |
Technology Transparency Rate | / 10.0 TTR |
Development Participation Rate | / 10.0 DPR |
Listing Status on the World's Top 10 Exchanges | Listed on 6 Exchanges |
Number of Available Pairs Worldwide | 210 Pairs |
Market Cap of the Cryptocurrency | 130,484,517 USD (Rank #293) |
Yield Guild Games (YGG) Price
Here are the price and recent trading volume of Yield Guild Games (YGG). (Data of 2024-05-20 17:16:00)
Price Items | Price and Trading Volume of Yield Guild Games (YGG) |
---|---|
Yield Guild Games (YGG) Price | 0.853 USD |
Price Change 24h | -5.76% |
Price Change 7d | 11.09% |
Trading Volume 24h | 57,016,261 USD |
Trading Volume Change 24h | 0.10% |
Cryptocurrency Metadata
You can check the development status and social media information of Yield Guild Games (YGG) through the links in the table below.
Metadata Source | URL |
---|---|
🌎 Official Website | |
📖 White Paper | |
🛰️ Source Code (GitHub) | |
🎺 Message Board |
Where to Buy Yield Guild Games (YGG)
Here are the top ten world crypto exchanges where traders can buy Yield Guild Games (YGG) in 2024.
Top10 Exchanges | Listed Status | Page URL |
---|---|---|
Binance | Listed | https://www.binance.com/en/trade/YGG_USDT |
Coinbase | Not listed | |
Kraken | Listed | https://pro.kraken.com/app/trade/ygg-eur |
KuCoin | Listed | https://www.kucoin.com/trade/YGG-USDT |
Bitfinex | Not listed | |
OKX | Listed | https://www.okx.com/trade-spot/ygg-usdt |
Huobi | Listed | https://www.htx.com/trade/ygg_usdt |
Bitstamp | Not listed | |
Bybit | Not listed | |
Gate.io | Listed | https://www.gate.io/trade/YGG_USDT |
Frequently Asked Questions
What is the current price of Yield Guild Games (YGG)?
Yield Guild Games (YGG) price today is 0.853 USD. Furthermore, the price of Yield Guild Games (YGG) has fluctuated by -5.76% from 24 hours ago, and by 11.09% from a week ago.
Where is Yield Guild Games (YGG) listed?
Currently, it is listed on a total of 6 among the world top 10 exchanges.
What is the market cap of Yield Guild Games (YGG) now?
Currently, Yield Guild Games (YGG) has a market cap of 130,484,517 USD, which is ranking 293 among cryptocurrencies worldwide.
How much is the trade volume of Yield Guild Games (YGG)?
Currently, 365,459,302 YGG coins are circulating through 210 market pairs. As a result, in the last 24 hours, 57,016,261 USD of YGG coins were traded in the market.