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In-depth analysis of GameFi pioneer YGG: from play-to-earn model to cross-game ecosystem.
Overview of GameFi and In-depth Analysis of YGG
The concept of GameFi originated at the Wuzhen Conference at the end of 2019, combining decentralized finance with gaming. Its core feature is "play to earn" (. Through blockchain technology, GameFi transforms traditional game assets into on-chain NFTs or FTs, endowing games with financial attributes. This gives game items uniqueness and collectible value, and players also gain ownership of the related data.
Putting game assets on the blockchain is beneficial for both game companies and players. Game companies can collect taxes in the secondary market, while players can earn profits through the games. This reduces the intermediate circulation of funds and items, maintaining the game ecosystem. As user participation increases, the game content will continue to enrich, forming a virtuous cycle.
Currently, GameFi faces challenges in playability and the sustainability of capital circulation. However, games remain the preferred choice for blockchain applications to break through barriers, and the decline in popularity helps purify the user base, prompting project parties to address real issues. At the same time, the GameFi ecosystem is relatively healthy, with DAOs like YGG integrating resources to form a community of healthy competition. The full-chain game narrative represented by Dark Forest is also gradually unfolding.
![Detailed Explanation of the Recently Exploding Yield Guild Games (YGG): Exploring a Game Guild Structure Built on GameFi and Future Development])https://img-cdn.gateio.im/webp-social/moments-ab878d44f6044ea5e1beeb9b0cbeff09.webp(
Introduction to YGG
Yield Guild Games)YGG( is a blockchain-based gaming community that operates in the form of a DAO, providing players with opportunities to earn profits in multiple blockchain games. YGG utilizes blockchain technology to track game transaction data, supports NFT assets, and connects global blockchain players and investors.
YGG has launched profit plans in multiple games such as Axie Infinity and The Sandbox. Community members can participate in decision-making through investment, gaming, community building, and share the organization's profit opportunities.
![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-62969306aa9959189efb0b08457fbe9b.webp(
Background of YGG
) The establishment and development of YGG
YGG was founded by Gabby Dizon and Archie Oclos in 2020, aiming to create a blockchain-based gaming revenue community. After its establishment, YGG rapidly developed, first partnering with Axie Infinity to launch the NFT gaming revenue program, attracting thousands of players to join.
Subsequently, YGG continued to expand its influence by collaborating with more well-known games. In July 2021, it completed a $24 million financing, and in February 2023, it raised another $13.8 million for the development of its reputation Token. YGG Japan also completed a financing of approximately $2.95 million in January 2023. This indicates that capital is optimistic about the GameFi market and the blockchain gaming community.
YGG native token economic model
YGG token is an Ethereum ERC-20 standard token that has multiple functions within the community:
As of August 8, 2023, the value of YGG's treasury assets is $185.74 million, primarily derived from native tokens. Recently, benefiting from the Ethereum Cancun upgrade, the price of YGG tokens surged, significantly boosting the value of the treasury assets.
![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-02e63eb370efdd8ca55e4a9c134d48c6.webp(
Core Mechanism and Features of YGG
) Guild Organizational Structure
The guild structure of YGG includes a core committee and player guilds:
YGG also launches different guilds based on regions, including Southeast Asia, India, Spanish-speaking communities, Brazil, Japan, South Korea, and Central and Eastern Europe. At the same time, it introduces the concept of sub-DAOs, such as YGG-LOK and YGGSPL, which are used for the games League of Kingdoms and Splinterlands, respectively.
Profit Distribution and Sharing
YGG distributes earnings based on Contribution Proofs ###. Members can obtain Contribution Proofs by purchasing assets, managing guilds, participating in governance, etc., and share profits proportionally.
The profit distribution mechanism is open and transparent, allowing all members to view the guild's financial status. YGG adopts decentralized governance, encourages member participation in decision-making, and promotes cooperation and mutual assistance among members.
( Cross-game ecosystem collaboration
YGG achieves cross-game collaboration in the following ways:
Taking Axie Infinity as an example, YGG members can breed Axies in the game, import them to the YGG platform for management and trading, rent them to other players for profit, or team up to participate in game activities.
![Detailed Explanation of the Recently Popular Yield Guild Games (YGG): Exploring a Game Guild Structure Built on GameFi and Future Development])https://img-cdn.gateio.im/webp-social/moments-bd28d6554ebdf60733f994beef3c69a1.webp###
( Community-driven development
YGG values community governance and encourages members to participate in proposals and voting. In games like Axie Infinity, YGG provides educational resources, organizes offline activities, and promotes member交流学习. At the same time, it collaborates with other projects to jointly promote the development of GameFi. YGG has established an open, transparent, and mutually supportive community culture, enhancing cohesion.
YGG Development Sustainability
The sustainable development of YGG faces the following challenges:
In the bear market, YGG continues to actively engage in partnerships, such as signing memorandums of understanding with W3GC and Game7, and establishing a partnership with XPLA. Future development still needs to focus on the new narratives and economic model innovations in GameFi.
![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###