When was YGG coin issued? Learn about the origin of YGG coin in one article

YGG Coin (YGG) was launched on June 24, 2021, as the native utility token for the Yield Guild Games (YGG) ecosystem, which empowers gamers with NFTs for play-to-earn opportunities.

Oct 24, 2024 at 12:30 pm

The Genesis of YGG Coin: A Comprehensive Guide to its Origins

1. Concept and Founding

• Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) that invests in non-fungible tokens (NFTs) representing in-game assets and characters.
• The concept of YGG was born in 2021, aiming to democratize access to play-to-earn games.
• It was founded by Gabby Dizon, a Filipino startup entrepreneur and blockchain enthusiast.

2. Token Issuance and Tokenomics

• YGG coin (YGG) was issued on June 24, 2021, as the native utility token of the YGG ecosystem.

• The tokenomics of YGG include a total supply of 1 billion tokens, with a distribution as follows:

  • 45% for the YGG ecosystem (including the YGG treasury and liquidity pools)
  • 35% for staking rewards
  • 10% for YGG founding members and advisors
  • 10% for early supporters and investors

3. Purpose and Use Cases of YGG Coin

• YGG coin serves multiple purposes within the YGG ecosystem:

  • Governance: YGG holders can participate in the YGG DAO and vote on proposals related to the organization's treasury, partnerships, and game investments.
  • Staking: YGG holders can stake their tokens within the YGG ecosystem to earn rewards in the form of NFT assets and YGG tokens.
  • Purchasing NFTs: YGG coin can be used to purchase NFT game assets, such as virtual land, characters, and items within the YGG-supported games.
  • SubDAO Membership: YGG holders can use their tokens to join sub-DAOs within the YGG ecosystem, which focus on specific game investments or initiatives.

4. Evolution and Partnerships

• Since its inception, YGG has grown significantly and established partnerships with various organizations in the gaming and blockchain industries.

• Notable partnerships include:

  • Axie Infinity: YGG became one of the largest Axie Infinity guilds.
  • Sandbox: YGG acquired a significant amount of virtual land in the Sandbox Metaverse.
  • Ubisoft: YGG partnered with Ubisoft to offer exclusive access to NFTs and in-game experiences for YGG members.

5. Future Prospects

• YGG continues to expand its reach in the play-to-earn and NFT gaming sectors.

• Key areas of focus include:

  • Investing in and supporting new play-to-earn games
  • Developing and launching new sub-DAOs to cater to specific gaming niches
  • Fostering community engagement and collaboration within the YGG ecosystem