More than just a digital coin, the YGG token is the principal token used in the whole network of Yield Guild Games. YGG aggregates players, investors, and managers of virtual assets to develop an online economy owned by the community in the emergent world of play-to-earn games and virtual worlds. The design of the token and its purpose will have YGG as a strong platform for real financial growth and innovation in gaming.
The functionality of the YGG token is governance, which means that holders can vote on key decisions, how money should be used, and what upgrades the platform should adopt. This system ensures that decisions are not made by a single company but by the community.
One of the major uses is in the scholarship program. The scholars are borrowing NFTs from the guild for the purpose of playing and earning rewards through various games. As YGG builds value by gathering more valuable NFTs through funds that were raised via the token, more players can also join the program. The success of such players helps the guild to earn more money that can be used to buy more NFTs and grow the program to support new projects. What happens is a cycle of constant growth powered by the token.
It also supports the formation of SubDAOs, smaller guilds focused on specific games or regions. Each may have its own token. That means YGG can scale across a lot of games and countries while still sharing strengths from a unified network.
Holders of the YGG token can also directly earn rewards. By staking their tokens into YGG Vaults, holders are entitled to share in the revenue generated by a specific set of games or other assets. In this way, for example, token staking in an Axie Infinity vault might earn part of the revenue produced by Axie players in YGG. The YGG token now serves as a means by which holders can earn passive income based on the performance of the guild.
YGG tokens are also utilized to support new ideas and projects. Through community voting, some of the treasury funds can be spent investing in new games. This accomplishes two things: it grows the YGG ecosystem and helps shape the future gaming. In a nutshell, the YGG token powers everything in Yield Guild Games. It enables governance, helps run the scholarship model, funds SubDAOs, allows holders to earn rewards of various forms, and supports investment in the development of the metaverse of the future. As the new digital economy continues to take growth, the YGG token remains vital in building a bright, decentralized future for gaming and virtual ownership.
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