Yield Guild Games Token Sale a Smash: Raises $12.5M in 31 Seconds
Yield Guild Games is pleased to announce the successful completion of its public sale, in which the entire token allocation was sold in 31 seconds.
In all, 25 million YGG tokens (YGG) were sold, raising a total of $12,496,000 in USDC. The sale was held via MISO at SushiSwap, beginning at 10:00 AM EST /10:00 PM SGT.
With the token sale concluded, the launch of the YGG DAO is now officially underway. One of the first tasks of the DAO will be distributing tokens to the YGG community as a way of rewarding their early participation in the guild. It will also serve to properly onboard them as DAO members.
“We want to send a huge thanks to everyone who has supported our journey so far as well as everyone who participated in the YGG token sale,” said YGG co-founder Gabby Dizon. “Now, we are looking forward to kicking off our community airdrop where YGG tokens will be given to the most active and engaged members of our guild, especially those who have been with us from the beginning.”
Gabby affirms that the guild’s development is on track with the roadmap and that Community Mining will begin soon. He also expects YGG to continue growing its scholarship program and the DAO to continue seeking new games and investments. He expects the distribution of YGG tokens to community members to begin in the near future.
Up to 45% of the total YGG token supply has been reserved for the community. These tokens will be slowly dispersed over a period of four years, with the first allotment being distributed via an airdrop of tokens to members of the YGG Discord who have demonstrated a willingness to contribute to the community in its earliest days of formation, followed by a distribution of Recruit Badges that signify DAO membership and designated roles.
Once the token sale is over at MISO, YGG tokens can be traded on decentralized exchanges like SushiSwap, as early as July 28, 10 PM SGT.
Yield Guild is proud to be at the forefront of the play-to-earn revolution and thankful for the confidence placed in them by their investors. Fueled by dedicated gamers and equipped with a trove of game-related digital assets, the YGG DAO has now officially commenced its journey to seek yield across the metaverse.
For more information about YGG DAO, and subDAOs, read the YGG whitepaper here.