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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 progress.
Following a community-driven governance proposal, Sky Mavis (Axie Infinity creator) and the Ronin group have embraced the launch of the YGG token, which formally went dwell right this moment (Thursday, March 21, 2024).
The strategic determination to combine the YGG token into the Ronin community goals to fortify the ecosystem by attracting each players and video games. As a part of this initiative, YGG tokens will likely 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 business, the businesses mentioned.
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With a longstanding partnership and mutual affect, the introduction of the YGG token to Ronin marks a major milestone in advancing the ecosystem. Jeff “Jihoz” Zirlin, cofounder and chief progress officer at Sky Mavis, expressed enthusiasm for this growth, emphasizing the intrinsic connection between YGG and Ronin.
The Ronin community has skilled outstanding enlargement over the previous 12 months, 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 each day lively customers (DAU) following its migration to Ronin, surpassing 130,000 and subsequently reaching 500,000 each day lively customers (DAU) and one million month-to-month lively 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 way of the YGG validator earlier than March 11, 2024, will obtain YGG tokens by way of an airdrop. The quantity of tokens distributed will likely be decided by the period and quantity of RON staked, with further bonuses for long-term stakers.
Furthermore, the YGG token will likely be listed on Katana, Ronin’s native decentralized change, 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 group’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 understood for offering insights on governance, constructing famend web3 initiatives, and connecting their companions to a bigger group and ecosystem. By means of this partnership, LongHash is now a YGG token holder and can play an lively half in shaping the way forward for YGG’s guild protocol and creating its tokenomics round questing and on-chain guild development.
The LongHash partnership additional solidifies YGG’s place as a guild of guilds innovating programs for web3 players to attach and uncover new video games collectively. YGG has been pivotal in serving to onboard and retain hundreds of latest gamers in video games equivalent to Axie Infinity: Origins and Pixels.
YGG’s introduction of on-chain repute has superior Web3 gaming ecosystems, offering gamers alternatives to construct their credibility as constructive contributors to the house, whereas builders achieve helpful insights into their group. The outcomes have been important, with the distinctive pockets numbers and social media engagement amongst accomplice video games rising 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 initiatives to reinforce onboarding, DeFi accessibility, progress tooling, and extra for the web3 gaming house. YGG’s partnerships are valued at $50.41 million as of February 2024. This outstanding progress 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 circumstances.
From its roots with YGG Pilipinas within the Philippines, YGG now helps a community of three million players 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 creating a thriving web3 esports scene of their areas, introducing massive swimming pools of aggressive gamers to web3 video games.