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Decentralized Gaming Startup YGG Launches YGG Token on Ronin Network
Decentralized gaming startup Yield Guild Games (YGG) has announced the launch of the YGG token on the Ronin network, expanding its reach to more gamers in the Web3 community.
Approval and Launch on Ronin Network
Sky Mavis and the Ronin community have approved the launch of the YGG token on the network, with the token going live on March 21. The aim of YGG is to attract more gamers and games into its ecosystem, and in line with this goal, YGG tokens will be airdropped to wallets staking “RON” on its YGG validator.
Jeff Zirlin, co-founder and chief growth officer at Sky Mavis, expressed excitement about the launch, stating, “Onboarding the YGG token to Ronin is the next natural step in our shared journey. Welcome to Katana, and Ronin, YGG.”
Ronin Network Games Gain Traction
Games within the Ronin network have been gaining traction. Following the migration to Ronin, game partner Pixels saw its daily active users (DAU) soar to over 130,000, becoming the first Web3 game on Ronin to achieve this milestone. Additionally, Pixels has experienced a higher engagement rate, surpassing 500,000 DAU and reaching 1 million monthly active users. Other games on Ronin, such as Apeiron and Wild Forest, have also seen increased interest.
YGG noted that with the migration of major projects like CyberKongz, the platform’s influence in Web3 gaming is steadily growing.
Growth in Gaming Revenue Expected
Australian venture capital firm King River Capital, blockchain gaming firm Immutable, and Polygon Labs have collaborated to launch a $100 million fund dedicated to gaming. In 2023, blockchain gaming-related funding rounds reached $1.7 billion. Data from Messari indicates that Immutable and Polygon Labs hold a combined market share of 70% in total blockchain gaming development, following a significant growth year for the industry.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
