Philippine-based crypto mobile wallet and exchange Coins.ph, announced last Tuesday the availability of the YGG token, the utility token of decentralized gaming guild Yield Guild Games (YGG), on their site.
YGG token is an ERC-20 token that is backed by Yield Guild’s assets and is the native token of Yield Guild Games, which will eventually transition to a full Decentralized Autonomous Organization (DAO).
[What are the ERC-20 tokens supported by Coins.ph? Read here.]
Though it only serves as a governance token as of the moment, it will eventually entitle its holders to cash flows from the underlying activities of the guild.
In addition, YGG token holders will have access to exclusive channels on YGG Discord.
According to the YGG’s current roadmap, the asset base of the guild will be geared around known blockchain games like Axie Infinity, The Sandbox, and League of Kingdoms.
Meanwhile, the token value, according to data analysis website Messari, will be based on yield on assets in the treasury, percentage of APY token rewards from yield farming, and revenues earned via e-sports and generated through raids, sponsorships, subscription fees, and sale of merchandise.
YGG currently has approximately 27,000 scholars present in more than 20 countries across the globe.
It is known for its projects like Sponsor-A-Scholar, YGG Managers Cup, Axie Bootcamp, and YGG Community Streams.
YGG’s Typhoon Odette Relief, initiated by YGG’s local arm, YGG Pilipinas, was also one of the big programs of the guild; together with YGG’s Country Manager, Luis Buenaventura II.
[How YGG’s Crypto Donation Drive Made Impact to Odette Victims? Read here.]
At the time of writing, YGG token’s price is $0.7838 with a 24-hour volume of $89,499,309, according to the data on CoinMarketCap.
The addition of YGG token made the total number of cryptocurrencies available to buy, sell, and store on the Coins.ph application to 17.
Last month, cryptocurrency coin Chiliz (CHZ) was also added to the crypto wallet.
Coins.ph is regulated by the Bangko Sentral ng Pilipinas (BSP) and is the only blockchain-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from a central bank.
This article is published on BitPinas: YGG Token Now in Coins.ph
Editing by Meghan Lim
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