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 Origins1. 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

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

RAIN

$0.007852

113.00%

Trade Now
PIPPIN

$0.06097

51.96%

Trade Now
PARTI

$0.1396

42.04%

Trade Now
WAVES

$0.9141

41.69%

Trade Now
ARC

$0.04302

35.73%

Trade Now
HONEY

$0.01029

21.80%

Trade Now

Latest Crypto News

MicroStrategy's Bitcoin Strategy: Saylor Navigates Crypto Winter, Pledges Quantum Security for Digital Gold
2026-02-07 01:10:01
Binance and Bybit Face Withdrawal Glitches Amidst Market Volatility; Binance Boosts SAFU Fund
2026-02-07 01:20:02
Ohio Strikes Gold: Prestigious Coin Collection Finds New Home in Toledo
2026-02-07 01:25:01
Polymarket's "POLY" Token and Airdrop Speculation Heats Up Amidst Trademark Filings
2026-02-07 01:20:02
Super Bowl 60 Coin Toss: Betting Prop Frenzy and Historical Flips
2026-02-07 01:15:01
Bitfarms Makes a Bold US Move, Pivoting from Bitcoin to AI Infrastructure
2026-02-07 01:10:01

Related knowledge

What is Ethereum’s Slashing mechanism and how to punish malicious behavior?

Feb 20,2025 at 03:08am

Key PointsOverview of slashingDifferent types of slashing in EthereumIncentives and consequences of slashingIdentifying and reporting slashed validato...

What is the verifier node of Ethereum and how to become a verifier?

Feb 19,2025 at 06:00pm

The Verifier Node of Ethereum: A Comprehensive GuideKey Points:What is a Verifier Node?How to Become a Verifier NodeResponsibilities and Rewards of a ...

What is Ethereum’s staking, and how to participate and earn money?

Feb 19,2025 at 04:37pm

Key Points:Understanding Ethereum's Staking MechanismSteps to Participate in StakingBenefits and Rewards of StakingSecurity and Risk ConsiderationsTec...

What is Ethereum’s DAO (Decentralized Autonomous Organization) and how does it work?

Feb 20,2025 at 03:12am

Key PointsDefinition and Structure of a DAOGovernance and Decision-Making in DAOsBenefits and Use Cases of DAOsChallenges and Limitations of DAOsWhat ...

What is Ethereum's multi-signature wallet and how to improve security?

Feb 20,2025 at 02:18pm

Key Points:Understanding the Concept of a Multi-Signature WalletBenefits and Drawbacks of Multisig WalletsRequirements for Setting Up a Multisig Walle...

What is Ethereum's oracle and how to provide data for smart contracts?

Feb 21,2025 at 01:30am

Key Points:Understanding the concept of oracles in EthereumExploring different types of oraclesDetailed guide on how to provide data for smart contrac...