Yield Guild Games price prediction: The battle for success
YGG has seen some success during the recent crypto slump, but is still over 95% down from its all-time high
- What is Yield Guild Games (YGG)?
- From the Yield Guild whitepaper
- YGG investment opportunities
- YGG past performance
- Yield Guild Games price prediction
What is Yield Guild Games (YGG)?
The concept behind Yield Guild Games was born when gaming industry veteran Gabby Dizon was playing the crypto game Axie Infinity. He started lending his own Axie characters to players who could not afford them.
Four years later, Dizon’s Yield Guild Games (YGG) has harnessed a growing userbase of gamers sharing crypto rewards. The guild describes itself as a decentralised autonomous organisation (DAO) investing in virtual world NFTs.
Its CoinMarketCap page reads: “The organisation’s objective is to develop the world’s largest virtual economy, optimise its assets to maximise utility and share revenues with its stakeholders.”
The DAO’s revenue comes from a pool of shared NFTs, where members can rent the assets in exchange for a portion of in-game rewards. These rewards are split between the player and YGG.
An example of this is if a guild member wants to play Axie Infinity. They can borrow an Axie and take part in the play-to-earn game. The Smooth Love Potion tokens they earn from playing will be returned to the DAO. In return for providing SLP, the player will receive a predetermined amount of YGG tokens.
As well as being a store of value, the YGG tokens act as voting tickets for the organisation’s governance. Holders will be able to benefit from various features and vote on guild decisions.
From the Yield Guild whitepaper
The Yield Guild whitepaper was published in June 2021 and is 32 pages long. Outlining the vision of the project, the whitepaper states: “YGG combines the best of the non-fungible token (NFT) and the decentralised finance (DeFi) space, bringing yield farming to game economies while adding value to these virtual worlds by developing the content and economy of these games.”
The document goes on to say: “We want to own and develop assets in the metaverse as we believe that virtual economies will be more valuable than real-world economies over time. At the same time, we want to create value in the virtual world for our guild members to thrive in a virtual environment – the competitive gamers, the artists, and content creators that populate the metaverse.”
YGG investment opportunities
Yield Guild Games is taking advantage of the current play-to-earn platforms as it builds a community of gamers. The guild is hoping to remove financial barriers, as its shared pool of digital assets, which span a myriad of games, give members unprecedented access.
All in-game rewards are given back to the guild’s treasury. However, members are encouraged to contribute, as they can earn a portion of YGG tokens.
YGG had joined the wider market trend in struggling since the start of the year. However, the South Korean game development company, Com2uS, has become an initial investor in Ola GG, a partner of Yield Guild Games. The fund has raised $8 million to acquire yield-generating non-fungible tokens, as well as to encourage the creation of Spanish-language content.
Additionally, Solana Ventures has partnered with Yield Guild Games (YGG) to promote the adoption of play-to-earn gaming in Southeast Asian countries as part of a $500,000 private investment.
The coin saw a marked upturn towards the end of April, but suffered after a mass sell-off in May. More bad news was to come when Merit Circle, a prominent gaming DAO, expressed an interest in refunding Yield Guild Games’ investment of $175,000, claiming there has not been enough value added by the gaming guild giant.
YGG says the agreement between the two DAOs was an exchange of tokens for capital, and no part of the agreement made was for “value-add” services.
Forecasters have presented a variety of likely values for the coming years, making a Yield Guild Games price prediction from zero to over $25 a token.
YGG past performance
The YGG token went live at the end of July 2021 on the SushiSwap exchange. Along with listing the token, SushiSwap launched a staking event. Those who provided liquidity to the WETH and YGG pool would be eligible for rewards in the SUSHI and YGG cryptocurrencies.
The Yield Guild Games token started around the $1.75 mark and raced to a peak of $10.83 on 27 August. This was in the lead-up to the first event held by the DAO, where users competed on Axie Infinity for a prize pool of 1,450 YGG. It proved to be a busy month for YGG, as the token was also listed on Crypto.com in late August.
The gaming token corrected to the $9 mark on 4 September 2021, the second day of the Axie Infinity event. However, YGG soon crashed to $5.
Yield Guild Games saw its token come close to the $10 mark again in early October. Its treasury received $145,000 worth of AXS. YGG climbed to a peak of $8.92 on 2 October 2021, the day this treasury boost was announced.
The biggest rally to date was experienced by Yield Guild Games in November. The DAO announced a partnership with BlockchainSpace, a tool giving tracking information to guilds.
It said in a blog post: “With a built-in guild dashboard, BlockchainSpace will assist users with accounting, automating cashouts, and getting an overall evaluation of a particular guild, alongside key metrics and performance tracking for each guild member.”
On 20 November 2021, a day after the announcement, YGG hit its all-time high of $11.50. This peak proved to be only temporary, and the token started crashing over the following months. It dropped to $5 in December 2021 and below $3 at the end of January 2022.
The token saw a slight recovery the next month as it revealed an investment in assets of the Solarbots game. Yield Guild Games purchased $80,000 worth of NFTs from the play-to-earn game, yet its token could only reach a $4.03 price tag on 7 November, before dropping again.
Opening in April 2022 at $3, the price seemed to be stuck with the bears, hitting a nine-month low of $1.66 on the 27 April. There was an uptrend towards the end of the month, hot on the heels of the investments from Com2uS and Solana Ventures, and YGG traded at highs of $2.08 on 28 April 2022. However, there was a steep downturn in May, and the token hit its first all-time low of $0.48 on 12 May. After further crashes, a new all-time low was established on 18 June at $0.31.
However, since then there has been a marked uptrend in price. As of 22 June, the token is trading at almost $0.45, up over 10% in a recent 24-hour reading.
Yield Guild Games price prediction
There are varying outlooks over the future of the DAO’s token. Most Yield Guild Games price predictions suggest that a new all-time high will not be met this year, but some are hopeful it can reach a new all-time high within the decade. Others offer a more pessimistic forecast.
WalletInvestor is in the latter camp, as its YGG coin price prediction describes it as a “bad” investment. It says the token will fall to under $0.04 in a year. Its Yield Guild Games price prediction for 2025 expects the token to fluctuate between $0.01 and $0.05.
Gov.Capital is even more bearish regarding the token’s future. Its Yield Guild Games price prediction for 2022 projects it to fall to around $0.64 in July. The YGG crypto price prediction estimates the token to eventually be worthless.
A more optimistic forecast is given by DigitalCoinPrice, which predicts a gradual rise for the gaming token. YGG is expected to climb to $0.62 in July, representing an upswing of almost 40%. A general price increase is anticipated, reaching an average of $0.87 by 2025. Its Yield Guild Games price prediction for 2030 averages out at $2.05, though this is still nowhere near its all-time high of $11.50.
TechNewsLeader gives another hopeful YGG price prediction, saying the token could reach $1.25 in a year and $3.87 in five years’ time. By 2031, Yield Guild Games is expected to reach $26.02.
There are over 115 million YGG in circulation, out of a max supply of 1 billion YGG (approximately 12%).
It depends. By contributing in-game rewards to the DAO’s treasury, players can earn YGG tokens. However, the gaming cryptocurrency has been on a largely bearish trend since its all-time high in November 2021.
Investors should always carry out their own thorough research before buying any tokens.
There is a mixed sentiment from forecasters. Gov.capital suggests YGG will eventually be worthless but TechNewsLeader thinks it can exceed $25 within the next decade.
YGG has proved to be volatile, so do remember that you should never invest more than you can afford to lose.
It depends. Yield Guild Games is continuing to add to its shared pool of digital assets – see, for instance, the recent purchase of Solarbots NFTs – and has signed up to some heavyweight partnerships. The funding that the project has acquired is also impressive, and has helped the DAO buck a market-wide downturn in late April.
However, as macro headwinds keep a chokehold on the wider crypto market, it is important that you conduct your own thorough due diligence before purchasing any cryptocurrency.