With the worth of its YGG token near an all-time-low, Yield Guild Video games is preventing again, demonstrating it nonetheless sees loads of alternatives for development.
One current success is its first “casual degen” recreation LOL Land, which has been producing a whole lot of income, partially due to its deployment on the Summary blockchain that means that gamers additionally earn XP for Summary’s forthcoming token launch.
Though the sport’s lifetime income hasn’t been disclosed, YGG claimed that the recreation generated $176,000 on Sunday third August alone.
Certainly, YGG has already been utilizing a few of its earnings, spending 135 ETH to purchase again $518,000-worth of its personal YGG token, once more on the Summary blockchain, though this hasn’t but impacted the worth .
“There has been a lot of negativity in Web3 gaming lately. But we believe it is here to stay, and we are no stranger to the ups and downs of each cycle. We are at a good place right now, and this buyback reflects YGG’s continued focus on long-term ecosystem development,” stated YGG co-founder Gabby Dizon.
“There’s a lot more coming for YGG in 2025 — from upcoming game launches to enhanced platform features and expanded use of the YGG token within the community.”
Along with the information that it’s launching its publishing arm YGG Play, Yield Guild Video games has additionally arrange a brand new ecosystem pool with 50 million YGG tokens, value round $7.5 million.
This will probably be managed by a brand new group, which is one in every of YGG’s autonomous Onchain Guilds.
Co-led by YGG company improvement supervisor Serge-Raymond Nzabandora and head of company improvement Andy Chou, its mission is to “explore yield-generating strategies” by means of the lively administration of treasury property.
To fulfil this mission, it may assist initiatives aligned with YGG’s gaming footprint, together with informal degen video games, however its major aim is to make cash within the crypto economic system, with its earnings getting used to assist YGG’s long-term mission.
