Yield Guild Games (YGG) is a blockchain-based NFT metasomes Guild project. Non-fungible tokens (NFT) used to invest in virtual worlds and blockchain-based games. The organization's mission is to create the largest virtual world economy, optimize its community-owned assets for maximum utility, and share its profits with token holders.
During the epidemic in 2020, the unemployment rate in the Philippines was as high as 40%, and many local people turned to playing online games to earn money as a way to earn living expenses. This background led Gabby Dizon, who has more than 20 years of experience in the game industry, to come up with the idea of forming a gold Guild. Yield Guild Games was born after he gathered the co-founders to discuss the idea.
Yield Guild hopes to get millions of players around the world to join YGG has formed a complete package of services, including recruitment, training and game lending, based on the guild.
In the Axie Scholarship project, There are Scholar players, administrators, and Yield Guild groups. The manager is responsible for the development and training of new recruits, with three Axie loaned to players as a team, allowing them to start earning SLP in the game at almost zero cost. When a certain amount of SLP is accumulated, the manager starts the smart contract and returns 70% of the revenue of the player, 20% of the manager and 10% of YGG. At the same time, YGG will also use the proceeds to purchase new assets in the game and distribute them to members of the game guild. As a result, more and more players + YGG + Axie have formed a perfect closed loop, and the latter two have become the current standard and hot topic in the GameFi field.
The famous Yield Guild is not content with simply making gold guilds for P2E games. It has always had the "original intention" to establish DAO, and is forming its own capital model.
At the end of July, Yield Guild went public with the sale of community application token YGG on SushiSwap MISO. The 25 million YGG tokens sold out in a minute, raising about $12.49 million and making Yield Guild's transition to the DAO official. YGG token holders have the opportunity to participate in community governance and enjoy the allocation and benefits of DAO's financial assets. Yield Guild also raised three rounds of funding: a $1.325 million seed round led by Delphi Digital; $4 million Series A round led by BITKRAFT Ventures; $4.6 million in financing, led by A16Z.
YGG uses these funds to invest in digital assets in games and virtual worlds, improve the P2E ecosystem, and expand the number of players in the community.
For now, Yield Guild is taking a relatively new route in the chain game market. GameFi is still in the early stages of development compared to the overall DeFi market size, and Yield Guild's success may start a new phase and even add value to the metasomes. Yield Guild makes gold Guild a very popular participant in GameFi. As a special third party, Yield Guild regulates quality game selection, initial player sourcing, game revenue distribution, and NFT item flow. Yield Guild's new DAO model is also expected to boost GameFi.
In order to make the YGG DAO more motivating for members to use their capabilities in ways that benefit the DAO while also adapting to changes in technology and market trends, Yield Guild introduces the concept of subDAOs, which can be thought of as "child DAOs" of YGG DAOs. Each subDAO is customized to be hosted for the assets and activities of a particular game. The owner of the subDAO can enjoy the revenue generated by the appreciation of the asset as well as the revenue generated in the productive game, and it still contributes to the YGG DAO itself.
Direct the player to a newly created sub-DAO and motivate them to play the game by rewarding them with YGG tokens. This means that Yield Guild will create more sub-DAOs as GameFi grows, turning a large population of precision players into a force to be considered in chain game startup and growth. In the process, Yield Guild will benefit from this and gain more value, just as in real life, public companies can acquire shares in unicorn companies by incubating them repeatedly.
We are also involved in and invested in well-known or potentially profitable chain games such as League of Kingdoms, F1 Delta Time, Star Atlas, Zed Run, Guild of Guardians, etc.