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What is YGG coin? A comprehensive introduction to the YGG coin project in one article

As the native cryptocurrency of Yield Guild Games, YGG Coin drives the platform's P2E gaming experience, facilitating governance, subDAO creation, treasury access, and reward distribution.

Oct 29, 2024 at 10:48 am

Understanding YGG Coin: A Comprehensive Overview

1. What is YGG Coin?

YGG (Yield Guild Games) Coin is the native cryptocurrency of Yield Guild Games (YGG), a blockchain-based gaming platform that allows players to earn rewards by participating in play-to-earn (P2E) games. YGG Coin is an ERC-20 token built on the Ethereum blockchain.

2. Purpose of YGG Coin

YGG Coin serves several key functions within the Yield Guild Games ecosystem:

Governance: YGG Coin holders can participate in the governance of Yield Guild Games, such as voting on proposals and directing the platform's strategy.
SubDAO Creation: Holders can use YGG Coin to create their own subDAOs (decentralized autonomous organizations) within the YGG ecosystem.
Treasury Access: YGG Coin provides access to the platform's treasury, which is used to fund game development and other initiatives.
Reward Distribution: Players who contribute to Yield Guild Games by participating in P2E games are rewarded with YGG Coin.

3. Yield Guild Games Platform

Yield Guild Games provides a platform where players can participate in a variety of P2E games, including Axie Infinity, Sandbox, and Upland. Players can rent NFTs (non-fungible tokens) from the YGG treasury to play these games and earn rewards. Yield Guild Games also offers educational resources and support to help players maximize their earnings.

4. YGG Coin Utility

YGG Coin has several use cases within the Yield Guild Games platform:

Rent NFTs: Players can use YGG Coin to rent NFTs necessary for playing P2E games.
Purchase SubDAO Assets: YGG Coin can be used to purchase assets within subDAOs, such as NFTs or gaming currency.
Community Governance: YGG Coin enables holders to participate in decision-making processes related to the platform and its subDAOs.

5. YGG Coin Tokenomics

Total Supply: 1 billion YGG
Initial Distribution: 80% LGE participants, 10% team, 5% advisors, 5% treasury
Unlocking Schedule: 80% fully unlocked after LGE, 10% unlocked every 6 months thereafter
Current Price (as of March 2023): $0.15

6. Future of YGG Coin

As the play-to-earn gaming space continues to grow, YGG Coin is well-positioned to benefit from increased interest in the sector. Yield Guild Games has ambitious plans to expand its platform and offer new services to its community. The development of the YGG 2.0 platform, which aims to address scalability and other challenges, is also expected to drive growth in the value of YGG Coin.

Conclusion

YGG Coin plays a pivotal role within the Yield Guild Games ecosystem, empowering players, facilitating subDAO communities, and providing access to P2E gaming opportunities. As the play-to-earn gaming industry evolves, YGG Coin and Yield Guild Games are expected to continue to play a major role in shaping its future.

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