YGG
Reputation Ratings

YGG

Yield Guild Games 2-5 years
Website https://yieldguild.io/
Browser
OTH RELPs
White Paper
Avg Price
0.00%
1D

$ 0.5077 USD

$ 0.5077 USD

Market Cap

$ 192.636 million USD

$ 192.636m USD

24h trading volume

$ 88.75 million USD

$ 88.75m USD

7d Vol

$ 379.069 million USD

$ 379.069m USD

Circulating supply

365.459 million YGG

Related information

Issue Time

2021-07-28

Platform pertained to

--

Current price

$0.5077USD

Market Cap

$192.636mUSD

Volume of Transaction

24h

$88.75mUSD

Circulating supply

365.459mYGG

Volume of Transaction

7d

$379.069mUSD

Change

24h

0.00%

Number of Markets

220

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Current Rate0

Available

0.00USD

Calculate

Historical Price

Introduction

Markets

3H

0.00%

1D

0.00%

1W

0.00%

1M

-35.19%

1Y

+235.72%

All

-64.45%

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

Overview of YGG

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.

Overview of YGG

Pros and Cons

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.

What Makes YGG Unique?

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.

What Makes YGG Unique?

Circulation of YGG

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.

How Does YGG Work?

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.

How Does YGG Work?

How to Store YGG?

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.

Should You Buy YGG?

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.

Conclusion

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.

FAQs

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.

User Reviews

More

68 ratings

Participate in evaluation
Dory724
Yield Guild Games, empowering players to earn in-game assets. Unique play-to-earn concept, strong community backing.
2023-11-30 22:05
8
Jenny8248
YGG (yield-generating governance token) aimed to incentivize participation in the Yield Guild Games ecosystem, allowing users to earn rewards by participating in play-to-earn gaming.
2023-12-20 21:16
5
BIT7974298720
This is the next big thing i wish nothing but success for this awesome project.
2023-03-17 13:15
0
ssunflowerwinn_
Go up🔥🔥🔥 give my best support for this best project!
2023-03-17 13:14
0
BIT2463945620
Hoping this project to be more known and huge in future!
2023-03-16 17:13
0
Misoyaa33
I'm sure that this project will become a big project dominating the world market, enthusiasm for all our team is waiting for your latest project.
2023-03-16 16:11
0
myyoonana
Wow YGG best project
2023-03-16 15:48
0
jess2719
lets go to the moon
2023-03-16 06:10
0
BIT3503705310
looking forward to it. heard good things about it
2023-03-16 06:04
0
BIT1825118218
what a great find!
2023-03-16 01:46
0
Rajkumar jangra
let's go to the moon 🌝 this is really safe and toxic free 🆓
2023-03-15 23:52
0
iwonexol
#YGG has proven itself to the community but since it has this good reputation. I just want to know "What's your preparation to some unexpected circumstances that might happen in the future?"
2023-03-15 20:56
0
honvye
i'm just really sure it will be GREAT and BIG. i will always looking forward to this one!!!
2023-03-15 20:21
0
meojengkol
Looking forward for this project.
2023-03-15 20:16
0
steff
Ygg to the moon
2023-03-15 16:47
0
moonreyy
YGG will be list on which centralized exchange?
2023-03-15 12:31
0
cxxvxz
very so nice
2023-03-15 10:46
0
Berii
I always admire P2E games especially YGG. It has brought gamers into increasing profits and potential to earn. 👏
2023-03-15 08:48
0
Jetsnov
YGG is had huge and strong potential to always rise
2023-03-15 06:24
0
Gapondzs
What network does it actually support when connecting a wallet in its browser? Connected to polygon network told to switch to ethereun network, switched to ethereum told to switch to polygon
2023-03-15 03:41
0

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