$ 0.5449 USD
$ 0.5449 USD
$ 203.724 million USD
$ 203.724m USD
$ 35.151 million USD
$ 35.151m USD
$ 295.03 million USD
$ 295.03m USD
384.135 million YGG
Issue Time
2021-07-28
Platform pertained to
--
Current price
$0.5449USD
Market Cap
$203.724mUSD
Volume of Transaction
24h
$35.151mUSD
Circulating supply
384.135mYGG
Volume of Transaction
7d
$295.03mUSD
Change
24h
0.00%
Number of Markets
232
Current Rate0
0.00USD
3H
0.00%
1D
0.00%
1W
0.00%
1M
+29.49%
1Y
+124.52%
All
-64.28%
Aspect | Information |
Short Name | YGG |
Full Name | Yield Guild Games Token |
Founded Year | 2021 |
Main Founders | Gabby Dizon, Beryl Chavez Li, and Owie Santos |
Support Exchanges | Binance, SushiSwap, and Uniswap |
Storage Wallet | MetaMask Wallet, Trust Wallet |
Yield Guild Games Token, commonly known as YGG, is a cryptocurrency that was founded in 2021. It was created by Gabby Dizon, Beryl Chavez Li, and Owie Santos. YGG operates on a virtual economy, allowing its token owners to earn rewards through online games, and it is compatible with decentralized finance protocols. It is tradable on exchanges like Binance, SushiSwap, and Uniswap. For storing YGG, wallets like MetaMask Wallet and Trust Wallet are commonly used.
Pros | Cons |
Operates on a virtual economy | Dependent on the success of online games |
Compatible with DeFi protocols | Relatively new with less established track record |
Traded on multiple exchanges | Price volatility |
Can be stored in several wallets | Risks associated with digital wallets |
Pros of YGG:
1. Operates on a virtual economy: YGG operates within an emerging digital marketplace, allowing token owners to earn rewards through online gaming. This suggests a level of innovation and caters to an increasingly digital-focused consumer market.
2. Compatibility with DeFi protocols: YGG is tradable on DeFi protocols, enhancing its accessibility to the broader market. This compatibility opens up more opportunities for holders and potential investors of the token.
3. Traded on multiple exchanges: YGG is traded on several established exchanges including Binance, SushiSwap, and Uniswap. This ensures that it can be purchased, sold, and held by a wide array of cryptocurrency participants leading to increased liquidity.
4. Can be stored in several wallets: YGG can be stored in several prominent and secure wallets such as MetaMask Wallet and Trust Wallet. This provides flexibility for owners and increases confidence in the token's security.
Cons of YGG:
1. Dependent on the success of online games: As YGG is closely tied to the online gaming sector, its success would depend on the continued popularity and profitability of these online games. This may lead to volatility or underperformance should the market for online games decline.
2. Relatively new with less established track record: Founded in 2021, YGG has a relatively short history and less established track record compared to older, more established cryptocurrencies. This may present investors with increased uncertainty.
3. Price volatility: Like many cryptocurrencies, YGG may be subject to high price volatility. This volatility could pose potential risks for owners and investors in terms of value stability.
4. Risks associated with digital wallets: Although YGG can be stored in several wallets, these digital storage mediums do come with their own risks, which may include vulnerability to hacking and fraudulent activities.
The Yield Guild Games Token (YGG) introduces a unique proposition in the cryptocurrency realm by marrying the concepts of online gaming and decentralized finance. Unlike traditional cryptocurrencies that operate purely on the blockchain for financial transactions, YGG operates in a virtual economy that centers on online gaming.
Token holders can earn rewards through their participation in online games, effectively creating new avenues for earnings apart from usual trading. These rewards can then be traded on various DeFi protocols, making YGG somewhat of a cross-over between a utility and a currency token.
However, it's essential to note that this innovative approach inherently ties the fortunes of YGG to the gaming industry's health. The token's performance is, therefore, highly dependent on the success and longevity of the games it supports, which can introduce a unique set of challenges and market risks that may not typically exist with more conventional cryptocurrencies.
The price of YGG has fluctuated significantly since its launch in 2021. It reached an all-time high of $11.50 in November 2021, but has since fallen by over 90%. The recent price decline is likely due to a number of factors, including the overall bear market in cryptocurrencies, as well as concerns about the sustainability of the P2E gaming model.
YGG is not mined, but instead has a fixed total supply of 1 billion tokens. This means that the supply of YGG cannot be increased, which could help to support its price in the long term.
Yield Guild Games Token (YGG) operates on the premise of play-to-earn models within the virtual gaming world. The working principle revolves around users acquiring YGGs, which they can use to purchase in-game assets or NFTs. These assets allow players to participate in online games supported by the Yield Guild Games ecosystem.
When players engage in these games, they can earn additional rewards in the form of in-game currency or other tokens, effectively offering them a way to earn income based on their gaming skills and participation. These rewards are subsequently tradable on various decentralized finance (DeFi) protocols, which further extends the utility of the YGG beyond its initial purchase.
In terms of its structure, YGG is a decentralized autonomous organization (DAO), which means it is run by a community of token holders who hold voting power. The direction and decisions of the YGG ecosystem are determined by the votes of these token holders.
However, while this model opens up new methods of earning and participation within the gaming realm, the performance of YGG is significantly influenced by the health and success of the online games it supports, leading to potential market risks and instabilities not commonly seen in traditional cryptocurrencies.Exchanges to Buy YGG
1. Binance: This exchange platform supports trading YGG with pairs like YGG/USD, YGG/BTC, and YGG/ETH. Binance, one of the largest crypto exchanges globally, offers advanced features for experienced traders and simple buy/sell methods for beginners.
2. SushiSwap: Flexibility is a key feature at SushiSwap, where anyone can add a token pair. It means the YGG can potentially be paired with any other token on the platform, as long as liquidity is provided for the pair.
3. Uniswap: Uniswap offers a decentralized trading experience and supports Ethereum-based (ERC-20) token pairs. Therefore, YGG can be traded with ETH and any other ERC-20 token available on the platform.
4. OKEx: A leading digital asset exchange that provides advanced financial services to traders globally by using blockchain technology, OKEx lists YGG and supports trading pairs like YGG/USDT and YGG/ETH.
5. Huobi: Huobi Global, a popular exchange platform with a broad selection of cryptocurrencies, supports YGG trading pairs such as YGG/USDT.
6. Gate.io: Gate.io, an established cryptocurrency exchange, allows trading YGG against USDT, offering a variety of trading features including spot, margin, and futures trading.
7. FTX: Known for its futures trading and leveraged tokens, FTX also lists YGG, supporting trading pairs such as YGG/USD.
8. Kucoin: This cryptocurrency exchange offers numerous pairs, including YGG/USDT, and additional features similar to those of leading exchange platforms.
9. Bittrex: Bittrex is a secure platform that offers a variety of trading pairs, with YGG/USDT being one of them.
10. Poloniex: Poloniex, with its user-friendly interface and a wide range of listed cryptocurrencies, supports YGG trading typically with a pairing of YGG/USDT.
Please note that availability of pairs can change and does depend on each exchange's policies and market demand. Always verify the latest and exact trading pairs on the respective exchanges.
YGGs can be stored in digital wallets that support ERC-20 tokens, since YGG is an ERC-20 token. There are several types of wallets where YGGs can be safely stored:
1. Software Wallets: These are applications that can be installed on devices like a computer, smartphone, or tablet. Software wallets may store the user's private keys on the device or on a remote server. Examples of software wallets that support YGG are MetaMask, MyEtherWallet, and Trust Wallet.
2. Hardware Wallets: These physical devices store the user's private keys offline, offering an added layer of security by being less susceptible to hacks. They are typically used by individuals who hold significant amounts of cryptocurrency. Examples of hardware wallets that can store YGG are Ledger and Trezor.
3. Web Wallets: These are hosted on a website and can usually be accessed from any internet-enabled device. However, as private keys are often stored by the website operator, they may be less secure than other wallet options. MyEtherWallet is an example of a web wallet that supports YGG.
4. Mobile Wallets: These are applications on a smartphone or tablet, providing a convenient option for those who prefer to manage their tokens on the go. Examples of mobile wallets supporting YGG are Trust Wallet and Coinbase Wallet.
It's essential to consider the security attributes, functionality, and convenience of each wallet type before deciding where to store your YGGs. As with all digital assets, it's recommended to use two-factor authentication and retain control of private keys to ensure optimal security.
Yield Guild Games Tokens (YGG) may be suitable for various types of investors, including:
1. Crypto Enthusiasts: Individuals who are genuinely interested in the world of cryptocurrencies, blockchain technology, and believe in the potential of gaming-based virtual economies may find YGG to be a fascinating investment.
2. Online Gamers: Given that YGG operates within online games and allows players to earn rewards, it can be an attractive buy for individuals active in the gaming ecosystem seeking to create a stream of gaming-related income.
3. DeFi Participants: Since YGG is compatible with various DeFi protocols, individuals who are already active in the DeFi space might consider including it as part of their portfolio.
4. Risk Tolerant Investors: Given the volatility of the crypto markets and the unique risks related to YGG's heavy reliance on the gaming industry, an investor should have a high-risk tolerance.
Regardless of the type of prospective buyer, it's vital to remember the following professional advice:
1. Do Your Research: Thoroughly research the YGG project, its founders, performance, and roadmaps. Understand the risks associated with its dependency on the gaming industry's success, its volatility, and potential hacking risks.
2. Investment Diversification: Never put all your eggs in one basket. Cryptocurrency should only form part of a diversified investment portfolio.
3. Regulatory Risks: Keep in mind that the regulatory environment for cryptocurrencies is often uncertain and can change rapidly. Future regulations could impact the price and liquidity of YGG.
4. Security Measures: Always use trusted and secure platforms to buy and store your YGGs. Implement two-factor authentication and always control your private keys.
5. Professional Advice: Always consider seeking advice from a financial advisor before making investment decisions.
Yield Guild Games Token (YGG) is a unique cryptocurrency that combines the concepts of decentralized finance and online gaming. Founded in 2021, YGG allows token owners to earn rewards through their participation in online games supported by the Yield Guild Games platform. These rewards can then be traded on DeFi protocols, presenting a novel method for digital earnings. YGG is traded on numerous exchanges and can be stored in a variety of digital wallets.
However, as an innovative and relatively young cryptocurrency, YGG has certain factors to consider. Its performance is heavily dependent on the success of the online games it supports. Moreover, as with all forms of cryptocurrency, it is subject to high levels of volatility and the associated risks of digital storage.
Concerning development prospects, YGG aligns with the growing trend of virtual economies and play-to-earn gaming models, which could potentiate its future growth. Nonetheless, predicting whether YGG will appreciate in value or profit its holders is uncertain due to the complex nature of cryptocurrency markets and the particularities of YGG's gaming-based foundation. Therefore, potential investors should conduct extensive research, consider the associated risks, and possibly seek professional financial advice before investing in YGG.
Q: Who are the minds behind YGG's creation?
A: YGG was founded in 2021 by Gabby Dizon, Beryl Chavez Li, and Owie Santos.
Q: In which wallets can I safely store my YGGs?
A: YGG, an ERC-20 token, can be securely stored in wallets that support such tokens, with options including MetaMask Wallet and Trust Wallet.
Q: How is YGG fundamentally different from traditional cryptocurrencies?
A: Unlike most cryptocurrencies, YGG operates in a virtual gaming economy where token holders earn rewards through their engagement in online games.
Q: Can you name some exchanges where YGG is listed and can be traded?
A: YGG is listed on numerous cryptocurrency exchanges, including but not limited to Binance, SushiSwap, and Uniswap.
Q: What inherent risks are there for those willing to invest in YGG?
A: Investors in YGG should be aware of the high market volatility of cryptocurrencies, potential hacking risks with digital wallets, and its dependency on the success of the gaming industry.
Q: What is the potential investment value of YGG in the future?
A: As the future value of any cryptocurrency, including YGG, is highly unpredictable due to market complexities, it's vital for potential investors to conduct comprehensive research and possibly seek professional financial advice.
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