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GameFi is maturing, YGG is creating a new ecosystem for blockchain game earnings.
Overview of GameFi and Detailed Explanation of YGG
The concept of GameFi was first proposed at the end of 2019, with the core feature being "play to earn" ( play to earn ). It puts traditional game assets on the blockchain through blockchain technology, transforming them into NFTs or FTs, endowing games with financial attributes. This allows players to truly own game data, breaking the monopoly of game companies over data.
GameFi creates a win-win situation for game companies and players. Companies can generate revenue from the secondary market, while players can earn economic returns through games. This promotes the healthy development of the gaming ecosystem and encourages players to create more gameplay and content.
Although the popularity of GameFi has declined, games remain the top choice for breaking into new markets. The drop in popularity helps to purify the user base and encourages project teams to address issues such as playability and capital circulation. At the same time, the GameFi ecosystem is relatively healthy, with DAOs like YGG integrating resources to form a positive community. Full-chain games represented by Dark Forest are also gradually developing.
Introduction to YGG
YGG is a blockchain-based gaming community that aims to provide players with opportunities to earn profits from multiple blockchain games. It utilizes blockchain technology to track game transaction data, supports NFT assets, and connects a global community of blockchain players and investors.
YGG has launched profit-sharing programs in several games such as Axie Infinity, The Sandbox, and League of Kingdoms. It is managed and operated in the form of a DAO, where members can participate in decision-making and share profits in various ways.
Background of YGG
Founding and Development History
YGG was founded by Gabby Dizon and Archie Oclos in 2020, aiming to create a blockchain-based gaming revenue community. After its establishment, YGG first partnered with Axie Infinity to launch an NFT gaming revenue program, attracting thousands of players to join in a short period.
Subsequently, YGG continued to expand its influence, collaborating with more well-known games and developing new revenue plans. In July 2021, it completed a $24 million financing, and in February 2023, it raised another $13.8 million for the development of a reputation Token. YGG Japan also completed approximately $2.95 million in financing in January 2023. This reflects the positive outlook of capital towards the GameFi market and the blockchain gaming community.
YGG Native Token Economic Model
YGG token is an Ethereum ERC-20 standard token with the following features:
Governance Rights: Holders can participate in community decision-making.
Profit Distribution: Holders can share in the community's investment and operational profits.
Incentive Mechanism: Encourage members to participate in games and community activities.
Liquidity: Tradable on cryptocurrency exchanges.
As of August 8, 2023, the assets managed by YGG were valued at $185.74 million, primarily from its native token. The recent surge in prices has significantly increased the value of the treasury assets.
Core Mechanism and Features of YGG
Guild Organizational Structure
The guild structure of YGG includes a core committee and player guilds. The core committee consists of 5 members who are responsible for formulating strategies and operational decisions. Player guilds are formed voluntarily by members to manage assets and generate profits in the game.
YGG also has regional guilds covering Southeast Asia, India, Spanish-speaking regions, Brazil, Japan, South Korea, Central and Eastern Europe, and Turkey. In addition, YGG introduces the concept of sub-DAOs, such as YGG-LOK and YGGSPL, focusing on specific games.
Revenue Distribution and Sharing
YGG distributes earnings based on Contribution Proofs (. Members can obtain Contribution Proofs by purchasing assets, managing guilds, participating in governance, and other means, and then earn a proportional share of the profits. YGG ensures fair and transparent profit distribution, encouraging cooperation and mutual assistance among members.
Cross-Game Ecosystem Collaboration
YGG achieves cross-game collaboration mainly through:
Taking Axie Infinity as an example, YGG members can earn profits by breeding and training Axies, and manage and trade on the YGG platform.
![Detailed explanation of the recently popular Yield Guild Games (YGG): Exploring a gaming guild structure built on GameFi and future development])https://img-cdn.gateio.im/webp-social/moments-bd28d6554ebdf60733f994beef3c69a1.webp(
Community-driven Development
YGG focuses on community-driven development, achieved through the following ways:
Sustainability of YGG Development
The sustainable development of YGG depends on the following factors:
Business Model: It is necessary to innovate the GameFi economic model to break through the limitations of the existing Ponzi scheme.
Blockchain Gaming Market: Market development is crucial for YGG, but the current overall market sentiment is relatively pessimistic.
Regulatory Environment: Changes in blockchain and cryptocurrency regulations may affect YGG operations.
Community Engagement: Maintaining and increasing community activity is crucial for the success of YGG.
![Detailed explanation of the recently popular Yield Guild Games (YGG): Exploring a game guild structure and future development built on GameFi])https://img-cdn.gateio.im/webp-social/moments-76b273eae80487f8cf1f05b29c6a8393.webp(