Yield Guild Games (YGG) successfully launched its token on the Ronin network on Thursday, aiming to broaden its Web3 community by attracting more gamers and games into its ecosystem.
The YGG token, which went live following approvals from game developer Sky Mavis and the Ronin community, will be airdropped to wallets staking “RON” on its YGG validator.
This move is expected to enhance the “play-to-earn” gaming model that YGG is known for, by integrating with Ronin, an Ethereum Virtual Machine (EVM) blockchain tailored for game developers.
The launch is part of YGG’s efforts to expand its reach within the blockchain gaming industry, which saw significant growth in 2023. Games on the Ronin network, such as Pixels, Apeiron, and Wild Forest, have already experienced a surge in daily active users and interest.
Ronin is best known for being the blockchain for Axie Infinity, a play-to-earn game that leads the non-fungible tokens (NFTs) market in all-time sales with US$4.26 billion, according to CryptoSlam data.
Ronin is the third-largest blockchain for all-time sales, thanks to Axie Infinity.
This blockchain trails Ethereum and Solana, which have historic sales of US$43.3 billion and US$5.2 billion, respectively.