Abstract

Yield Guild Games (YGG) is a gaming guild focusing on blockchain-based earn-while-playing games. 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 to help each other start and grow in the NFT gaming field.

Introduction

Since "Axie Infinity" became popular, "play while earning" (P2E ) The blockchain gaming sector has been growing rapidly. Although the popular trend of P2E has attracted millions of people around the world to participate, many players cannot afford to buy game NFTs, especially those in developing countries. Yield Guild Games is building a P2E community and providing solutions to these players to help them get started playing NFT games.

What is Yield Guild Games (YGG)?

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

The idea to create a global play and earn gaming community emerged in 2018. Gabby Dizon, co-founder and CEO of YGG, noted the popularity of blockchain gaming in Southeast Asia. At the time, many gamers wanted to get their hands on the popular NFT game Axie Infinity, but they did not have the money to purchase the NFT characters called Axies in the game.

Dizon understood that blockchain gaming could be a tool to empower people in developing countries, 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 NFT and blockchain gaming world.

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 executed by smart contracts. It has many different uses, such as executing governance decisions voted on by the community, issuing rewards, and facilitating NFT leasing.

YGG is composed of multiple SubDAOs, which in turn are composed of groups of players from specific NFT games or geographical locations. Each SubDAO has its own set of rules that govern the activities and assets of its respective "play and earn" 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 to earn in-game rewards. In return, people who lend NFTs through the DAO get a share of the gamers’ income.

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

YGG Sponsorship Program

In order to maximize the value and utility of game NFTs, YGG DAO has opened 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-play 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 a blockchain smart contract, and those who receive sponsorship can only use the NFT in the game. Only the manager (owner) can trade or transfer NFTs.

Similarly, YGG also provides sponsorship for new players in a revenue-sharing model. These players can start the game and receive in-game rewards through the NFT assets they obtain. Sponsors do not need to invest any money up front, but they share a portion of the proceeds with the 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 NFTs in Axie Infinity. Also in the YGG vault are virtual lands from The Sandbox and Kingdom League, virtual cars from F1 Delta Time, and other "play and earn" games.  

SubDAO

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 are SubDAOs specifically for "Axie Infinity" players, SubDAOs for "The Sandbox" players, and SubDAOs for Southeast Asian players, etc. Players are grouped into different SubDAOs where they can discuss game strategies and help each other achieve optimal performance.

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. In a SubDAO there is a community leader, a wallet and a SubDAO token. Token holders receive a share of the revenue generated by the game based on their contributions. They can also make suggestions and vote on governance decisions related to the SubDAO, such as whether to purchase more in-game NFTs, or how to manage their assets.

What is YGG coin?

The Yield Guild Games (YGG) coin is an ERC-20 token that gives holders YGG DAO governance rights. Its total supply is 1 billion tokens, with 25 million YGG coins successfully sold on SushiSwap through the Initial Decentralized Exchange Offering (IDO) in 2021. 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 earned in the YGG earnings pool after staking, or used to unlock exclusive content on the YGG Discord channel. In addition, YGG coin holders can submit proposals and vote on decisions such as the guild’s technology, products, projects, token allocation and overall governance structure. The winning proposal that is ultimately implemented on the DAO will be rewarded with YGG coins.

YGG Yield Pool

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

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

Token holders can stake for supported activities, and rewards will be distributed proportionally based on the amount of YGG coins they stake through the smart contract. Depending on how the revenue pool is planned, rewards may also include YGG coins, Ethereum (ETH), or stablecoins.  

How to buy YGG coins on Binance?

You can buy Yield Guild Games (YGG) coins on cryptocurrency exchanges such as Binance.  

1. Log in to your Binance account and click [Trade]. Choose Classic or Advanced trading mode to get started.

2. Click [BTC/USDT] to open the search bar and enter "YGG" to view available trading pairs. We’ll use YGG/BUSD as an example.

3. Go to the [Spot] box on the right and enter the number of YGG coins you want to purchase. In this example we will use a market order. Click [Buy YGG Coins] to confirm the order, and the purchased YGG Coins will be credited to your spot wallet.

Summary

YGG is Build a decentralized community in the real world through a unique revenue sharing model. It provides participants with the opportunity to thrive in these virtual worlds through an innovative game economy. With the rise of the Metaverse project, there will be an influx of newcomers and cryptocurrency enthusiasts to NFT guilds like Yield Guild Games. These people who hope to obtain other sources of income through "play and earn" NFT games will make the guild Benefited a lot.