Yield Guild Games, the biggest play-to-earn organization in the metaverse, has announced a governance token sale for their decentralized autonomous organization (DAO). Yield Guild Games will become a fully decentralized organization that invests in NFT for virtual worlds and in blockchain games. They will launch the YGG token to give token holders a vote in the direction they are going.
The launch of the YGG token will allow Yield Guild Games to hand over ownership of the organization to its stakeholders, and the players in particular. Through the DAO these players get exposure to the value created by NFTs and other assets the guild invests in. The token gives its holders a say in the future of the organization.
The token sale will take place starting from Thursday July 27th at 10:00 am EST on SushiSwap’s new token launch platform Miso. The sale will run for a total of three days, or until the tokens have sold out.
What does Yield Guild Games do?
Right now Yield Guild Games is mainly active in Axie Infinity. Within their organization they have access to a big amount of Axie NFTs. Instead of just keeping these Axies in their wallets, they make separate accounts. They then give people, often named Scholars, access to these accounts. Scholars earn SLP through gameplay. So far Yield Guild Games has gathered 17 million SLP since October last year, which equals approximately $2 million.
At the moment there are more than 2,000 Scholars associated with Yield Guild Games. This number is increasing. Right now YGG is mainly focused on Axie Infinity, but they already invested in a wide range of other games. Think about The Sandbox, Splinterlands, League of Kingdoms, F1 Delta Time and Zed Run.
Play-to-earn mechanics have become increasingly popular in developing countries or countries with a troubled economy. Think about countries like the Philippines, Indonesia, Venezuela, Brazil and India. In these countries, where the COVID pandemic arguably hit hardest, playing Axie Infinity can literally safe lives.