GameFi is rising exponentially and gaining popularity. Yield Guild Cames combines DeFi and NFTs with blockchain games. All users in the network can participate in various blockchain games through the Yield Guild Games ecosystem and generate income through the use of NFTs which they can then also trade on the platform. Discover the beginning of the metaverse here.
What is Yield Guild Games?
Yield Guild Games is DAO investing in NFTs in a virtual world to create the world’s largest virtual economy. It is an umbrella of different games where the community and players can earn money by investing and trading in NFTs. These are used in the various blockchain games. Yield Guild Games in this way combines NFTs and the world of decentralized finance ( DeFi ).
Thanks to interoperability and the rapid development of crypto, we can use different NFTs as in-game applications that can be transferred and traded in different games. In this way we are evolving into a metaverse where they are trying to create the world’s largest virtual economy.
YGG was founded to bring liquidity and expertise to the world of NFTs within blockchain games. In this way it is a unique protocol because it combines gaming with NFTs and DeFi.
At the beginning of 2021, GameFi , better known as the blockchain gaming industry , was not as popular as it is today. Looking back, we see that in early 2021 Axie Infinity was trading at $0.5, while the current price is $125 in mid-October. This explosive growth is not an isolated success, but characterizes the success of the gaming industry.
The problem with Axie Infinity is that players have to invest in about $1,000 right from the start before they can play. This is a major barrier for potential players, especially when we look at countries like the Philippines and Indonesia where gaming is very popular. From this ideology, Yield Guild Games arose with a different business model where everyone has access to these blockchain games.
Play to Earn
We keep seeing new hypes and developments in crypto. For example, we had the trend of the Initial Coin Offering ( ICO ) after which we quickly saw increasing interest in DeFi, followed by NFTs and we are currently very much in the metaverse and the play-to-earn. The latter is also better known as GameFi.
GameFi or play-to-earn combines the success of NFTs in the game industry’s latest developments on blockchain technology. It allows players to participate in a decentralized game and earn money simply by playing the game. It creates a new economy owned by the player. For example, they can trade NFTs to generate extra income or they can choose to put their valuable assets on hold.
Conventional business models in game business models are designed in such a way that all revenue goes to the creators of the game. Crypto and blockchain games, on the other hand, give you a decentralized universe owned by the player through the unique DAO structure. This gives players the freedom to both play and earn money.
Yield Guild Games is a Decentralized Autonomous Organization (DAO). All participants in the network and therefore tokenholders are all co-owners of the ecosystem of the Yield Guild Games network. Decision-making will be prorated based on ownership based on number of tokens and property value. These tokens also represent a voting right in the DAO.
Since Yield Guild Dames is an umbrella DAO for different games, the ecosystem uses different subDAOs. For example, you have a separate DAO for each game, for example a subDAO for Axie Infinity, or a DAO for League of Kingdoms.
Each subDAO has its own governance functions and its own voting system. They consciously use subDAOs to streamline the decision-making process for each game. Because there are several games under Yield Guild Games, it is almost impossible to regulate all of this under one DAO. Suppose you have 50 proposals that are all about different games, where users can vote who do not participate in this game themselves. Yield Guild Games DAO can be seen as the core here. It owns significant interests in all these different subsidiaries.
Conventional games are only lucrative for the creators of the game. As a user, you buy the game or pay an entrance fee, after which they go to the team in their entirety. With GameFi and blockchain games, this is a completely different business model. The primary revenue will come from the use of NFT assets owned by Yield Guild Games that users can borrow for a fee or even buy. These are used as a scholarship program in the community. For example, consider a virtual piece of land. Of course, everyone also benefits from the increase in the economic value of this in-game asset.
We saw earlier that everyone has access to the ecosystem. You play the game for free, but the ecosystem takes a small percentage of your winnings. This is a win-win situation that keeps the system healthy and allows it to grow further. If we take Axie Inifity as an example, we see that 70% of the rewards go to the players. 20% goes to the community manager and the remaining 10% goes back to the Yield Guild Games protocol.
Earning passive income is something that is increasingly central to crypto development and certainly to the world of DeFi. You can choose to place your Yield Guild Games Tokens in one of these vaults. These are vaults that are accessible to all users of the network. For example, you can choose to place your tokens with Axie Infinity, where you only receive income and rewards that come from the Axie Inifity game. Each safe has a different distribution and revenue model. For example, these different vaults may also have different lock-in periods or different reward percentages.
Can’t choose and would you like to spread your risk? Then you can also opt for the superindex. This is a combination of all rewards.
$YGG is the native token of the Yield Guild Game ecosystem. It is an ERC20 token backed by Yield Guild’s assets. It functions as a governance token where you can vote on issues that determine the future of the ecosystem. As more games are added to the platform, users will get a lot more functionality with their native tokens. As GameFi continues to evolve and play-to-earn gains in popularity, Yield Guild Games will add the most popular games to their vaults.
Yield Guild Games has a total supply of 1 billion tokens, of which 90 million will be in circulation by mid-October 2021. These tokens are distributed as follows:
- Treasury – 13.3%: The role of YGG treasury is to oversee the management of the assets to maximize the value returned to the DAO over time.
- Advisors – 1.85%: They have a lock-up period of 1 year. During the 2 nd year, these tokens will be released linearly.
- Investors – 24.9%: Only 20% of this share is freely issued. The remaining 80% will also receive a lock-up period of one year. The following year, they too are released on a linear basis.
- Founders – 15%: These tokens will be locked for a period of 2 years. After that, the tokens will be issued linearly over a period of 3 years.
- Community – 45%
The Yield Guild Games ecosystem is all about community. This is also evident with their DAO and token distribution. Up to 45% of all native tokens are allocated to community programs. Think of airdrops, archive awards and special bonuses for victories achieved in the games.
They also have a scholarship program, sort of a scholarship. For example, players who do not yet have the financial means can borrow NFTs. For example, the player may need a piece of land to build something on it. The player can then borrow this NFT, the piece of land. In return, they share this revenue with the community.
Top 10 games
We can say that GameFi has exploded in popularity and success stories. Yield Guild Games therefore invested earlier in 2021 to add 10 new games to their own platform. These are all games that focus on NFTs where players have their own in-game assets and can trade them on the platform. In addition, they all have the opportunity to generate income with this. Check out the latest games on Yield Guild Games here:
- League of Kingdoms
- F1 Delta Time
- The Sandbox
- Star Atlas
- ZED RUN
- Guild of Guardians
- Ember Sword
- Axie Infinity
Yield Guild Games wants to realize in the very short term that users can rent NFT assets (fully decentralized). However, this is currently still centralized as NFTs is an ERC-721 token on the Ethereum blockchain. It does not support such functions yet. However, they can use smart contracts to issue ownership tokens to internally monitor leased assets. This is also a cheaper way because no gas fees have to be paid. They are therefore striving for a new NFT standard in which they can rent and lend NFTs in a simple way.
Native YGG tokens will be distributed in the network through the use and rental of NFT assets, which are owned by Yield Guild Games. For example, a player can start farming SLP tokens in Axie Infinity using borrowed Axies from Yield Guild Games. The SLP tokens that come back from the game will be redistributed back to the DAO. The native YGG tokens will also be used to communicate in function of, among other things, governance.
Yield Guild Games was founded by Gabby Dizon and Beryl Li who together want to take gaming to the next level by combining it with NFTs and the world of DeFi.
Gabby has been gaming since 2004 and came into contact with the world of blockchain in 2018. In 2014 he founded a game studio that released Battla Racers in 2019, one of the first blockhain games. He is also actively involved in Axie Infinity and Yearn finance communities and a board member of the Blockchain Game Alliance. He knows better than anyone what the latest trends are within the gaming industry and how to implement them in this rapidly changing world.
Beryl Li is a Cambridge University graduate and has been in blockchain since 2014. She is also the founder of CapchainX, a token platform. And it doesn’t stop there. She also founded Coins.ph, a leading crypto exchange and blockchain payments start-up in Asia. This was recently acquired by GoJEk.
What is the price of the YGG token?
If you want to invest in the YGG token, a good start is to know its price. If you are already going to trade, you also want to make a profit. You can make a technical analysis to see what the best buy or sell moment is.
The YGG token was withdrawn from CMC on July 28, 2021 at a price of $1.8025. Within half a year, this token has already reached its preliminary ATH on August 28, 2021 with a price of $10.83. After that, the price dropped again quite quickly and between September 2021 and October 2021 the price was low with mainly red numbers. At the time of writing, early October 2021, the price is $6.60.
At CoinMarketCap , it is just inside the top 250 in place 229. I think this coin has a good prospect, especially if Bitcoin continues to rise in 2021. I think it could experience a good price development. If you want to invest in this coin, it is important to do your own research.
Where can you buy the Yield Guild Games token?
The YGG token is for sale on Bitvavo . Bitvavo has included this coin in its offering at the beginning of September 2021. Most leading CEXs also offer this coin, such as Binance or Gate.io. There are also many liquidity pools on DEXs like Uniswap where you can find a YGG pair. If you live in the Netherlands or Belgium, Bitvavo is a very convenient option. You can click on the widget below and you can immediately buy the YGG token.
Billions of dollars go into circulation in the gaming industry every year. More and more games of all kinds are being added and with the arrival of blockchain technology and the NFT, this market has completely exploded. We therefore see that the year 2021 will be dominated by GameFi, the rapid development of the game industry on the blockchain that connects the world of DeFi and NFTs.
Through CoinGecko, we see that, at the time of writing, the entire crypto gaming industry has a market cap of $16 billion. And this still seems to be just the beginning. Thanks to interoperability between different blockchains, it has recently become possible to trade NFTs via different portals. This combined with gaming and DeFi takes the whole cryptosphere to another level.
Thanks to the trilogy of gaming, DeFi and NFTs, these unique tokens can be used and traded as in-game applications where users of the ecosystem can also choose to generate a passive income thanks to these tokens. It is this combination that brings both current gamers to the blockchain, but also new gamers are sufficiently interested. Play a game and earn money while ? At Yield Guild Games it is possible!
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com