Yield Guild Games (YGG) has made a significant move in the web3 gaming industry by launching its native token, YGG, on the Ronin blockchain network. This strategic decision aims to drive growth and innovation within the ecosystem by attracting both gamers and games.
The launch of the YGG token on Ronin comes after a community-driven governance proposal and has been embraced by Sky Mavis, the creator of Axie Infinity, and the Ronin community. The YGG token officially went live on Thursday, March 21, 2024.
The collaboration between YGG and Sky Mavis highlights their shared commitment to advancing the web3 gaming industry. This partnership marks a significant milestone in the development of the ecosystem.
The Ronin network has experienced remarkable expansion in the past year, with 22 validators, including YGG, Google, Nansen, and Animoca Brands. With over 100,000 delegators and a total stake exceeding 187 million RON tokens across validators, Ronin has become a prominent player in the web3 gaming landscape.
Pixels, a game partner of YGG, witnessed a surge in daily active users (DAU) after migrating to Ronin. The platform surpassed 130,000 DAU and subsequently reached 500,000 DAU and a million monthly active users (MAU). This success demonstrates the growing influence of the platform and the games within the Ronin ecosystem.
Eligible users who staked RON tokens through the YGG validator before March 11, 2024, will receive YGG tokens through an airdrop. The amount of tokens distributed will depend on the duration and amount of RON staked, with additional bonuses for long-term stakers.
The YGG token will also be listed on Katana, Ronin’s native decentralized exchange. This listing will enable liquidity pairings with other ecosystem tokens. Holding YGG tokens grants access to exclusive benefits, including token-gated quests and potential airdrops, enhancing the engagement and participation of the Ronin community.
YGG recently partnered with LongHash Ventures, a Web3 investment firm and accelerator. This partnership reinforces YGG’s position as a guild of guilds, innovating systems for web3 gamers to connect and discover new games together. LongHash is now a YGG token holder and will play an active part in shaping the future of YGG’s guild protocol and developing its tokenomics.
Since its inception in 2020, YGG has established partnerships with 101 games and networks, including XPLA, Oasys, Polygon, Base, and Ronin. The value of YGG’s partnerships is currently valued at $50.41 million as of February 2024. This growth in the value of the YGG treasury reflects the company’s commitment to advancing web3 gaming, even during challenging market conditions.
YGG has also been instrumental in building local web3 gaming communities worldwide. With a network of 3 million gamers in eight regions, YGG is actively supporting the development of a thriving web3 esports scene in regions like North America, Latin America, and Korea.
The launch of the YGG token on Ronin represents a significant step forward for Yield Guild Games in driving web3 gaming expansion. With strong partnerships, a growing ecosystem, and innovative initiatives, YGG is poised to shape the future of web3 gaming.
