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Yield Guild Video games has launched its native token, YGG, on the Ronin blockchain community in a transfer to foster Web3 gaming development.
Following a community-driven governance proposal, Sky Mavis (Axie Infinity creator) and the Ronin neighborhood have embraced the launch of the YGG token, which formally went reside as we speak (Thursday, March 21, 2024).
The strategic resolution to combine the YGG token into the Ronin community goals to fortify the ecosystem by attracting each avid gamers and video games. As a part of this initiative, YGG tokens will probably be airdropped to wallets staking RON on the YGG validator, facilitating seamless engagement between the Ronin community and YGG platform.
The collaboration between YGG and Sky Mavis underscores their shared dedication to driving innovation within the web3 gaming trade, the businesses mentioned.
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With a longstanding partnership and mutual affect, the introduction of the YGG token to Ronin marks a big milestone in advancing the ecosystem. Jeff “Jihoz” Zirlin, cofounder and chief development officer at Sky Mavis, expressed enthusiasm for this improvement, emphasizing the intrinsic connection between YGG and Ronin.
The Ronin community has skilled outstanding enlargement over the previous yr, boasting 22 validators, together with YGG, Google, Nansen, and Animoca Manufacturers. With over 100,000 delegators and a complete stake exceeding 187 million RON tokens throughout validators, Ronin has emerged as a outstanding participant within the Web3 gaming panorama.
YGG’s sport accomplice, Pixels, witnessed a surge in every day energetic customers (DAU) following its migration to Ronin, surpassing 130,000 and subsequently reaching 500,000 every day energetic customers (DAU) and one million month-to-month energetic customers (MAU). This achievement highlights the platform’s rising affect and the success of video games inside the Ronin ecosystem, together with Apeiron and Wild Forest.
Eligible customers who staked RON tokens by the YGG validator earlier than March 11, 2024, will obtain YGG tokens by an airdrop. The quantity of tokens distributed will probably be decided by the length and quantity of RON staked, with further bonuses for long-term stakers.
Furthermore, the YGG token will probably be listed on Katana, Ronin’s native decentralized alternate, enabling liquidity pairings with different ecosystem tokens. Holding YGG tokens grants entry to unique advantages, together with token-gated quests and potential airdrops, additional enhancing the Ronin neighborhood’s engagement and participation.
Earlier in March, YGG partnered with the enterprise fund arm of LongHash Ventures, a Web3 funding agency and accelerator.
LongHash is thought for offering insights on governance, constructing famend web3 tasks, and connecting their companions to a bigger neighborhood and ecosystem. By way of this partnership, LongHash is now a YGG token holder and can play an energetic half in shaping the way forward for YGG’s guild protocol and growing its tokenomics round questing and on-chain guild development.
The LongHash partnership additional solidifies YGG’s place as a guild of guilds innovating methods for web3 avid gamers to attach and uncover new video games collectively. YGG has been pivotal in serving to onboard and retain 1000’s of latest gamers in video games reminiscent of Axie Infinity: Origins and Pixels.
YGG’s introduction of on-chain fame has superior Web3 gaming ecosystems, offering gamers alternatives to construct their credibility as constructive contributors to the area, whereas builders acquire precious insights into their neighborhood. The outcomes have been important, with the distinctive pockets numbers and social media engagement amongst accomplice video games growing steadily.
Since YGG’s inception in 2020, it has established partnerships with 101 video games and networks together with XPLA, Oasys, Polygon, Base, and Ronin, whereas backing quite a few different infrastructure tasks to reinforce onboarding, DeFi accessibility, development tooling, and extra for the web3 gaming area. YGG’s partnerships are valued at $50.41 million as of February 2024. This outstanding development within the worth of the YGG treasury is a results of YGG’s unwavering dedication to the development of web3 gaming, even amid two years of difficult market situations.
From its roots with YGG Pilipinas within the Philippines, YGG now helps a community of three million avid gamers in seven different areas worldwide to construct native web3 gaming communities. Guild companions like NYXL in North America, OLA GG in Latin America, and SKYGG in Korea are actively growing a thriving web3 esports scene of their areas, introducing massive swimming pools of aggressive gamers to web3 video games.
