What is Yield Guild Games (YGG)?

Yield Guild Games (YGG) is a game guild that focuses on earning while playing games on the blockchain. This is a community that invests in NFT assets and connects blockchain gamers around the world. Their goal is to build a network of players and investors who can help each other get started and grow in the NFT gaming space.

Ever since the popularity of Axie Infinity, the play-to-earn (P2E) blockchain gaming space has been growing rapidly. While the hot P2E trend has attracted millions of people around the world to participate, game NFTs are out of reach for many players, especially those in developing countries. Yield Guild Games is building a P2E community and providing these players with solutions to help them get started playing NFT games.

What is Yield Guild Games (YGG)?

Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) investing in non-fungible tokens (NFTs) used in blockchain games. These games fall under the broader concept of the Metaverse. The term metaverse refers to numerous elements in the blockchain-based digital world, including digital land, digital assets, etc.

The idea to create a global earning game community came in 2018. Gabby Dizon, co-founder and CEO of YGG, noticed the popularity of blockchain games in Southeast Asia. At the time, many gamers wanted to get their hands on the popular NFT game “Axie Infinity,” but they didn’t have the money to buy the NFT characters in the game called Axies.

Dizon learned that blockchain gaming could be a tool for empowering people in the developing world, so he started lending his Axies to other players who couldn’t afford the character. Inspired by this, he co-founded Yield Guild Games with Beryl Li in 2020, hoping to help players thrive in the world of NFT and blockchain games.

How do Yield Guild Games work?

Yield Guild Games combines decentralized finance (DeFi) and NFTs to create a metaverse economy on the Ethereum blockchain. YGG DAO is an open source protocol whose rules are enforced by smart contracts. It serves a variety of different purposes, such as enforcing governance decisions voted on by the community, distributing rewards, and facilitating NFT leasing.

YGG is made up of multiple SubDAOs, which in turn are made up of groups of players from specific NFT games or geographic locations. Each SubDAO has its own set of rules governing the activities and assets of its respective “earn as you play” game.

This model allows players playing the same NFT game to work together to maximize in-game profits. It will also allow guild members to rent community-owned NFT assets for in-game rewards. In return, those who lend NFTs through the DAO get a share of the gamers’ revenue.

On YGG, all NFTs and digital assets are stored in the community-controlled YGG vault. The treasury provides NFTs for each SubDAO, including P2E assets in multiple blockchain games.

YGG Sponsorship Program

In order to maximize the value and utility of game NFTs, YGG DAO opened an NFT rental program called Sponsorship Program. The idea was originally proposed by the Axie Infinity community to benefit both NFT owners and earn-as-you-go gamers.

In Axie Infinity, Axie owners can lend their game assets to help new players get started in exchange for a percentage of in-game rewards. This process is done through blockchain smart contracts, and those who get sponsorship can only use NFT in the game. Only managers (owners) can trade or transfer NFTs.

Similarly, YGG also sponsors new players with a revenue-sharing model, and these players can start the game and receive in-game rewards through the acquired NFT assets. Sponsors don't need to invest any money upfront, but they share a portion of the proceeds with managers. In addition to receiving NFT sponsorship, new players will also receive training and guidance from community managers.

The YGG sponsorship program is not limited to the NFT in "Axie Infinity". Also in the YGG vault are virtual lands from The Sandbox and League of Kingdoms, virtual cars from F1 Delta Time, and other "play and earn" games.

Child DAO

As mentioned before, YGG DAO is mainly composed of SubDAO. You can think of SubDAO as a localized community within the main YGG DAO. These local communities are made up of players from a specific P2E game or geographic location. For example, there is a SubDAO specifically for Axie Infinity players, a SubDAO for The Sandbox players, and a SubDAO for Southeast Asian players, among others. Players are divided into different SubDAOs where they can discuss game strategies and help each other perform at their best.

Each SubDAO manages its own game activities and assets according to its own set of rules and conditions, but still contributes revenue to YGG DAO. A SubDAO has a community leader, a wallet, and a SubDAO token. Token holders can share the revenue generated by the game according to the contributions they make. They can also suggest and vote on governance decisions related to the SubDAO, such as whether to buy more in-game NFTs, or how their assets should be managed.

What is YGG coin?

The Yield Guild Games (YGG) Token is an ERC-20 token that empowers holders to govern the YGG DAO. With a total supply of 1 billion tokens, 25 million YGG coins will be successfully sold on SushiSwap in an Initial Decentralized Exchange Offering (IDO) in 2021. In order to support the community, YGG has set aside 45% of the total supply, which will be gradually distributed to users over four years.

As the native token of the platform, YGG coins can be used to pay for services on the network. Rewards can also be obtained in the YGG income pool after staking, or used to unlock exclusive content on the YGG Discord channel. In addition, YGG coin holders can also submit proposals and vote on the guild's decisions on technology, products, projects, token distribution, and overall governance structure. Winning proposals that are finally implemented on the DAO will be rewarded with YGG coins.

YGG income pool

YGG DAO adopts a liquidity mining method that is different from most DeFi staking platforms. Tokens are typically staked to earn interest at a fixed rate. On YGG, each revenue pool represents a token reward program for specific activities operated by YGG. For example, one yield pool could provide yield based on the performance of a sponsorship program, while another yield pool rewards stakers based on the Axie breeding program.

YGG also plans to develop an all-in-one super-index revenue pool representing all revenue-generating activities in its ecosystem. The yield pool will reward stakers based on the income the guild earns from subscriptions, merchandise, rent, treasury growth, and SubDAO index performance.

Token holders can stake for supported activities, and the rewards will be distributed proportionally to the amount of YGG tokens they staked through the smart contract. Depending on how the reward pool is structured, rewards may also include YGG coins, ether (ETH), or stablecoins.

Summarize

YGG is building a decentralized community in the real world through a unique revenue sharing model. It offers participants the opportunity to thrive in these virtual worlds through an innovative game economy. With the rise of metaverse projects, there will be a large influx of newcomers and cryptocurrency enthusiasts into NFT guilds like Yield Guild Games, and these people who hope to "play and earn" NFT games for other income streams will benefit the guild. many.