Yield Guild Games (YGG), a decentralised gaming business, sold all 25 million native tokens in record time.
Gone in 30 seconds
According to a blog post published on Wednesday, the YGG tokens raised $12,496,000 in Circle’s USD-pegged stablecoin, USDC. The transaction took place on the SushiSwap exchange using the open-source smart contracts platform MISO. However, it started at 14:00 UTC and lasted 31 seconds.
According to the firm, the YGG decentralised autonomous organisation’s debut is now “officially underway,” following its token sale.
Yield Guild Games (YGG)
YGG is a “play-to-earn gaming guild,” drawing players to its platform for them to earn tokens using blockchain-based economics. Therefore, the first order of business for YGG will be the distribution of YGG tokens to its community as a method of incentivising early engagement, according to YGG.
YGG coins available for trade
The community will receive up to 45 per cent of the entire YGG token supply, which will be “slowly distributed” over four years. Additionally, YGG coins are now accessible for trade on decentralised markets as of Wednesday.
Moreover, the move follows a $1.3 million fundraising in March that drew interest from Delphi Digital and BlockTower Capital, among others. In June, Bitkraft Ventures led a $4 million round of funding, with participation from ParaFi Capital and Mechanism Capital.
