Is Yield Guild Games a Good Investment?
Is Yield Guild Games a good investment? Yield Guild Games is swiftly becoming one of the cryptocurrency ecosystem’s most intriguing ventures. A big number of crypto analysts believe that YGG is a solid investment owing to its increased decentralization and attractive value proposition. Read on to learn more.
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What are Yield Guild Games?
Yield Guild Games (YGG) is a Decentralized Autonomous Organization (DAO) that engages in blockchain games’ non-fungible tokens (NFTs). These games are a subset of what is known as the metaverse. The phrase metaverse refers to the various components of blockchain-based virtual worlds, such as digital property, digital products, and so on.
In 2018, the notion of establishing a global play-to-earn games industry arose. Gabby Dizon, co-founder, and CEO of YGG saw that blockchain gaming was becoming popular in Southeast Asia. Many players were wanting to get involved in the famous NFT game Axie Infinity at the time, but many lacked the funds to purchase the in-game NFT characters known as Axies.
Dizon began lending his Axies to other gamers who couldn’t afford to purchase their own after realizing that blockchain gaming can be an uplifting tool for folks living in underdeveloped countries. This prompted him to co-found Yield Guild Games with Beryl Li in 2020, to assist gamers in thriving in the world of NFTs and blockchain games.
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What is Yield Guild Games Coin?
YGG is the coin or token of the DAO platform Yield Guild Games. Yield Guild Games (YGG) is an ERC-20 unit that entitles holders to vote on the governance of the YGG DAO. It has a total quantity of one billion tokens, and 25 million YGG were sold in 2021 through an Initial DEX Offering (IDO) on SushiSwap. YGG has set aside 45 percent of the total supply to be handed to users gradually over 4 years to help the community.
YGG, the system’s native token, is being used to charge for network services. It can also be claimed in the YGG vaults to gain rewards or used to unlock unique content on the YGG Discord community.
Furthermore, YGG holders can propose and vote on choices affecting the guild’s technology, products, initiatives, token distribution, and broader governance structure. YGG tokens will be awarded to the winning recommendations that are subsequently implemented into the DAO.
Is Yield Guild Games a Good Investment?
Yes, YGG is a good investment. Yield Guild Games’ value has increased by 9.61 percent in the previous 24 hours. At the time of writing, the current ranking is #257, with a market cap of $151,079,527. There are currently 74,275,864 YGG coins in circulation, with a total supply of 1,000,000,000 coins.
The gaming company has set aside 45 percent of a total coin supply of one billion tokens to help the YGG community. According to the company, the tokens would be dispersed progressively over four years. Furthermore, around 40% of the tokens will be divided among investors (24.9%) and creators (15%), with the rest 15% going to the firm’s treasury and advisers.
Yield Guild Games is leveraging current play-to-earn networks to develop a gaming community. The guild hopes to eliminate financial barriers by providing members with unparalleled access to a pooled pool of digital goods spanning a wide range of games.
Every in-game award is returned to the guild’s treasury. Members are urged to donate, though, because they can receive a percentage of the YGG tokens.
After suffering since the beginning of the year, YGG mirrored the larger market trends. Com2uS, a South Korean game production company, has become an early investment in Ola GG, a Yield Guild Games partner. The fund has gathered $8 million to obtain yield-generating non-fungible tokens and to promote the creation of Spanish-language publications.
Furthermore, as part of a $500,000 private sector investment, Solana Ventures has teamed with Yield Guild Games (YGG) to encourage the implementation of play-to-earn games in Southeast Asian nations.
The coin has seen a significant increase towards the end of April and was trading around $1.93 at the time of writing.
Analysts have offered a range of expected prices for the following years, ranging from zero to $92 per token in Yield Guild Games.
The YGG token officially launched on the SushiSwap market at the end of Summer 2021. SushiSwap conducted a staking event in addition to listing the coin. Those that contributed liquidity to the WETH and YGG pools would be eligible for SUSHI and YGG cryptocurrency awards.
The Yield Guild Games token began at around $1.75 and reached a high of $10.83 on August 27. This occurred in the run-up to the DAO’s first event, in which users fought on Axie Infinity for a jackpot of 1450 YGG. YGG had a busy month, as the coin was also featured on Crypto.com in late August.
On Day 2 of the Axie Infinity competition, September 4, the game token was corrected to $9. However, YGG quickly fell below $5.
In early October, Yield Guild Games’ token approached the $10 milestone once more. Its treasury received AXS valued at $145,000. That day this treasury rise was revealed, YGG reached a high of $8.92.
Yield Guild Games recorded its largest rally to date in November. The DAO announced a collaboration with BlockchainSpace, a service that provides guilds with tracking details.
A day following the release, on November 20, YGG reached an all-time high of $11.50. This high proved to be just temporary, as the token began to fall in value over the next few months. It fell to $5 in December and will be below $3 by the end of January 2022.
The coin recovered slightly the following month after revealing an investment in Solarbots game resources. Yield Guild Games bought $80,000 in NFTs from the play-to-earn game. However, its token only reached a high of $4.03 on November 7 before falling again.
YGG Price Statistics
Check out the current price stats of YGG:
|Yield Guild Games Price||$0.626127|
|Market Cap Dominance||0.00%|
|Volume / Market Cap||0.4685|
|24h Low / 24h High||$0.563910 / $0.686377|
|7d Low / 7d High||$0.550239 / $0.978518|
|Market Cap Rank||#401|
Yield Guild Games is adding to its shared database of digital products, such as the latest acquisition of Solarbots NFTs, and has formed some outstanding alliances. The development’s funding is significant, and it has assisted the DAO to avoid a market-wide collapse in late April.
However, as macroeconomic headwinds continue to suffocate the broader crypto markets, it is critical to undertake extensive due research before purchasing altcoins.