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Yield Guild Games (YGG) price prediction: More partnerships?

By Mohadesa Najumi

Edited by Jekaterina Drozdovica


Updated

Aug 22 2021-Lopburi, Thailand: For Illustrative editorial use only, Ethereum coin emerged form wallet with Axie infinity logo on screen.
Yield Guild Games (YGG) price prediction: More partnerships?Photo:Shutterstock

Yield Guild Games (YGG) is a play-to-earn gaming guild. It’s structured as a decentralised autonomous organisation, allowing players to earn yield through investments in metaverse assets.

Yield Guild Games cleverly combines non fungible-tokens (NFTs) with decentralised finance (DeFi) in an attempt to deliver an innovative new model of gaming – one that incentivises participants through a reward programme and governance voting processes within the YGG metaverse.

The project manages a trove of game-related NFTs, digital assets and virtual reality (VR) land parcels that can be used by members to create earnings for both themselves and the guild.

The project, founded by Gabby Dizon and Beryl Li in November 2020, has a bold long-term vision: to create the world’s largest virtual economy, which could someday be equivalent to a real-world economy.

What is Yield Guild Games?

Within the virtual land-based economy, players are rewarded with native tokens during in-game competitions, which allows them to vote and participate in decentralised autonomous organisation (DAO)-related activities.

The YGG play-to-earn crypto token can be used in any or all the following ways:

  • staked for token rewards;

  • staked for access to exclusive content; and/or 

  • used as a method of payment within the network. 

YGG’s protocol is automated by smart contracts, which are instructed by a governance voting consensus within the DAO. Users can play competitively within the metaverse and collect in-game rewards, as well as produce revenue through the rental or sale of YGG-owned NFT assets.

As such, the primary revenue of the DAO comes from leveraging YGG-owned NFT assets, either directly or indirectly through a rental programme where guild members utilise assets in exchange for a portion of the in-game rewards.

YGG players are called ‘scholars’ and they can stake YGG tokens in any number of vaults. Each vault represents the token rewards from one or all guild revenue sources. For instance, one of the vaults could be dedicated to revenue from the sales of YGG, while the other vault could be used to distribute revenue acquired from NFT rentals. 

Rewards from the vaults are paid out to scholars, according to both the proportion of tokens staked by each guild member and the current revenue generated by the scholar assigned to the vault. 

YGG price analysis: Technical view

Two years since its launch, YGG has achieved two all-time highs – the first was $10.83 on 27 August 2021 and the second was $11.50 on 20 November 2021.

Despite starting the month at a low of $6.311 on 11 November 2021, the Yield Guild Games crypto token rallied to $8.9686 on 18 November before achieving an all-time high that same month.

This surge in YGG’s price could be attributed to a number of positive catalysts. In July 2021, Yield Guild Games completed its initial decentralised exchange (DEX) offering (IDO) via SushiSwap’s Miso platform, raising over $12.4m with the involvement of just 32 participants. 

A month before, the company raised $4m in a Series A funding round led by the esports and gaming investment platform BITKRAFT Ventures, not to mention the $4.6m it raised during another financing round led by American venture capital firm Andreessen Horowitz earlier that year. 

Yield Guild Games to USD chart, 2021–2022

On 10 September 2021, Yield Guild Games launched the first-ever REVV Racing YGG cup tournament in partnership with Hong Kong-based blockchain game developer and investor Animoca Brands. 

Prior to the announcement, YGG had been trading at $5.5834 on 7 September 2021, but once the six-day tournament came to a close on 16 September, the price rose by 22% to $6.8465.

After achieving its all-time high on 20 November 2021, the price retreated to $6.8204 on 28 November, which was followed by a strong rebound to $9.1107 just five days later on 2 December. However, this rally was short-lived, and the price lost almost 50% of its value when it dropped to $4.666 on 14 December. 

YGG is currently (5 January) trading at around $5.28 and ranks 253rd in the list of cryptocurrencies by market capitalisation at $367mn, according to CoinMarketCap

Yield Guild Games to USD chart, November 2021–January 2022

XRP/USD

0.61 Price
+1.890% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

SOL/USD

181.07 Price
-1.890% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

ETH/USD

3,449.98 Price
-1.630% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

BTC/USD

67,688.65 Price
-0.260% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

Technical analysis provided by CoinCodex shows that short-term sentiment on YGG is bearish, with five indicators displaying bullish signals compared to 17 bearish signals.

The daily simple and exponential moving averages are giving sell signals, according to data from TradingView, while the relative strength index (RSI) is at 44, as of 5 January 2022. An RSI reading of 30 or below indicates an oversold or undervalued condition. 

A mainstream success: 22 partnerships secured and $22.4m raised

By the end of 2021, Yield Guild Games announced that it had successfully partnered with a number of play-to-earn games, and had raised a total of $22.4m through three funding rounds and an initial token sale, which took place earlier that year

The partner list includes Vulcan Forged, Influence, CyBall, Thetan Arena, KOGs SLAM!, MOBOX, Aavegotchi, Sipher, DeHorizon, Genopets, Big Time, League of Kingdoms, F1 Delta Time, The Sandbox, Star Atlas, Illuvium, ZED RUN, Guild of Guardians, Ember Sword, Splinterlands, Axie Infinity and Fancy Birds. 

A press representative for Yield Guild Games has also confirmed exclusively to capital.com that the company plans to announce more partnerships over the coming weeks and months. 

“Yield Guild Games has been partnering with a large number of developers and gaming companies, and is positioning itself well to harness the play-to-earn revolutionary momentum many analysts believe is coming into fruition, particularly in the Southeast Asian market, where YGG recently created a regional subDAO [a sub-decentralised autonomous organisation],” said Richard Delaney, senior analyst at OKEx.

“YGG is also planning to support some of the most promising-looking games dropping this year, such as Illuvium, which is slated for a Q1 launch,” Delaney also told capital.com. 

Most notably, Yield Guild Games purchased the 46th-largest asteroid in the Influence game – KJ-44947 – for ETH 32.86 (or $78,000) and was also the first company to join Vulcan Forged’s Cedalion programme, which offer scholarships to players using its 50 plots of land. 

The YGG play-to-earn platform also celebrated a user milestone at the end of 2021 when the company announced that it had 10,000 players participating in its scholarship programme from all over the world. 

In other YGG coin news, the company has been raising money in an ongoing effort to support the victims of Typhoon Rai (Odette) in the Philippines and has received several contributions from other organisations within the industry, such as a $100,000 donation from the Solana-based blockchain gaming studio Aurory Project and another $100,000 donation from sci-fi video game Outer Ring MMO. 

More recently, Yield Guild Games Southeast Asia (YGG SEA), the first sub-decentralised autonomous organisation (subDAO) of the YGG gaming guild, has raised $15m in order to support and accelerate the adoption of play-to-earn gaming in Indonesia, Vietnam, Singapore and Thailand. 

Furthermore, the company partnered with the esports tournament infrastructure platform, Ignite Tournaments last month in order to bring play-to-earn gaming to a much wider audience by enabling players to organise their own mobile-compatible gaming tournaments whilst also earning cryptocurrency and non-fungible tokens (NFT) as rewards. 

Beryl Li, co-founder of Yield Guild Games believes that the play-to-earn phenomenon is powerful as it offers a source of income for players who earn rewards through games. 

“Yield Guild Games is reducing barriers for players who wish to access new revenue streams by extending scholarships in the form of leased NFTs,” Li said. 

“In fact, players can get started without having to pay anything upfront. This ease of entry makes YGG the perfect platform for financial education,” he told capital.com. 

 “I have been philosophising about financial democratisation for quite some time, but I consider this concept to be much more powerful than just banking the unbanked because our audience has real autonomy over what they choose to do with their financial rewards,” Li added.  

A risk for the project lies in the recent news that there are fraudulent Telegram groups advertising free YGG airdrops through giveaways. These fraudulent social media groups have been publicly denounced by the company. 

Yield Guild Games price prediction: Buy, sell or hold?

In terms of a YGG price prediction, algorithm-based forecasting service Wallet Investor gives a positive YGG/USD forecast. Based on historical data, Wallet Investor sees the price rising to $5.786 by 1 February 2022, $14.356 on 1 January 2024 and hitting $18.764 by 1 January 2025.

Digital Coin Price supports the bullish Yield Guild Games coin forecast, expecting the token to grow to $7.91 in February 2022, $11.57 in January 2025 and hit $18.14 in January 2028. 

Note that predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.

FAQs

Is the Yield Guild Games coin a good investment?

Whether YGG is a good investment for you depends on your personal circumstances and risk appetite. Cryptocurrencies are high-risk assets. You should do your own research and  evaluate the level of risk you are prepared to accept before investing. Never invest money you cannot afford to lose.

How high can the YGG coin go?

While the Yield Guild Games coin achieved two all-time highs last year – the first on 27 August 2021 at $10.83 and the second on 20 November at $11.50 – the prospect of YGG trending higher in the future depends largely on the token achieving broader adoption.

Will the YGG coin hit $18 in 2028?

Based on price predictions from Digital Coin Price, the YGG price is likely to reach $18 within the decade. Digital Coin Price predicts the price to hit $18.18 in January 2028. 

Note that predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.

Markets in this article

YGG/USD
YGG/USD
0.5049 USD
-0.0285 -5.450%

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