Original title: "P2E mode has a new way to play, Axie Infinity's largest guild YGG will be transformed into a DAO! "
Author: Fang Qinyu
If you're catching up on the P2E bandwagon and feeling frustrated that you didn't catch Axie Infinity, paying attention to Yield Guild Games (hereafter referred to as YGG) might be your chance.
At 10:00 tonight (10:00 am EST on July 27th), YGG (https://yieldguild.io/) will conduct IDO on MISO (https://miso.sushi.com/) through SushiSwap.
The success of Axie Infinity has its own factors, but it is absolutely inseparable from the promotion of YGG. YGG is a gaming guild that initially recruited players, trained players, and even provided players with loans for Axie Infinity. It was co-founded in October 2020 by Gabby Dizon, Beryl Li, and Owl of Moistness. Among them, Gabby Dizon is also a mobile application developer in the Philippines Co-founder of the company Altitude Games, which also developed Battle Racers on Decentraland and Mushroom Mandia on Sandbox.
YGG is currently the largest guild in Axie Infinity, but its development is not limited to Axie Infinity, it has also participated in and invested in League of Kingdoms, F1 Delta Time, The Sandbox, Zed Run, Guild of Guardians, Ember Sword and other well-known or potential guilds. Chain games that generate revenue for players.
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How does YGG work?
According to YGG's blog, the idea of YGG was born from observing how Axie Infinity can earn income through Small Love Potion (SLP), especially during the COVID-19 pandemic, playing Axie became a viable alternative source of income, so YGG expanded This initial concept aims to participate in the "Money Play" revolution for millions of players around the world.
Taking Axie Infinity as an example, the core part of YGG's operation is the "Scholarship Program", which rents out Axies to players who want to start playing Axie Infinity, and then divides the income earned by players from the game: players get 70%, and the guild gets 10%, the community manager gets 20%.
YGG's community manager is responsible for promoting and managing players in the player base, which can save YGG from directly managing players. Community Managers are earned by existing members recruited by YGG from the community. At present, YGG is in the alpha stage of the automated "scholarship program". A smart contract interactive robot is set up in the Discord server for management, which can automatically lend Axie NFT and share it among players, managers, and guild SLP.
At present, YGG has 18,000 guild members, of which Axie Infinity has more than 2,500; there are already more than 500 members and more than 100 Axie players in Discord, and they have collectively cultivated more than 130k SLP.
In addition to Axie Infinity, YGG also has many well-known or potential NFT Metaverse layouts, such as the land obtained in The Sandbox, the keys obtained in F1 Delta Time, etc.
In March of this year, YGG announced that it had raised USD 1.325 million in seed investment. The investment institutions included Delphi Digital, BlockTower, Scalar Capital, Youbi Capital, etc., as well as some individual angel investors. Among them, Delphi Digital led the seed round of YGG.
According to an interview with Delphi Digital by overseas media, earning additional legal income in the virtual world and believing that YGG will become the largest virtual world economy in history constitute the main reasons for institutional investment:
YGG has the opportunity to organize and coordinate events in the fast-growing crypto gaming environment, and by doing so, the guild optimizes returns on investment of time and money;
As they mature, guilds should become "a powerful catalyst for the growth of the ecosystem more broadly by providing developers with useful insights gleaned from a community of sophisticated players familiar with the tools available.";
It is expected that YGG's funds will effectively serve as a shadow fund for productive NFTs;
From an end-user perspective, YGG provides a valuable service to "NFT collectors and 'whales' in cryptocurrencies;
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What does it mean to own YGG?
YGG's income mainly comes from NFT investment income in Metaverse, operation and leasing of NFT.
In order to further motivate community members, YGG DAO has introduced a liquidity mining mechanism, and the incentives will mainly come from YGG's income.
Classic DeFi mining involves a fixed-rate mortgage-to-loan ratio, or mortgage tokens in a "liquidity pool" to earn a part of the income, while YGG DAO tokens can be mortgaged to the YGG Vault in any amount, Each Vault represents token rewards from one or all guild revenue sources.
For example, the assets in one of the vaults are for the breeding and sales income of Axies, which is the NFT needed to play Axie Infinity, while the other vault will distribute the income from NFT leasing.
Vault rewards will be determined according to the proportion of tokens pledged by each guild member and the income generated by the source allocated to Vault. For those who want access to various income streams, YGG DAO will also have a vault representing all income generated - this vault includes income generated during gameplay, transaction income generated by NFT and other digital assets, rental income.
YGG DAO will also launch a SubDAO centered on specific game activities and assets. For example, a SubDAO is exclusively for Axie Infinity players, and a certain SubDAO is exclusively for ZED RUN players. Token holders in SubDAO can play and collaborate together to increase the collective revenue they generate from the game, and can also use assets owned in the Vault to better equip their characters, further increasing their earning potential.
Here, YGG simplifies the process, that is, as long as the individual members of SubDAO perform better, the greater their contribution to the entire DAO, which means that their contribution is more (players can also share the benefits with the union to improve their contribution to the guild. contributions), SubDAO participation will be incentivized by the guild.
It is foreseeable that after officially turning into a DAO tonight, YGG will take another step forward on the road of grassroots development, which may stimulate the enthusiasm of players in its community and ignite many blockchain games.
This article is reproduced from the Defi Way and is reproduced with authorization.
