Yield Guild Games (YGG) Rallies Over 49% Following Upbit Listing

YGG, the native cryptocurrency of the Web3 guild protocol Yield Guild Games, is up over 49% today following a listing on the leading South Korean crypto exchange Upbit.

Data from CoinGecko shows YGG climbed 53% after news of the listing made the rounds. Upbit is the largest crypto exchange in South Korea, so the development is a significant one for the Web3 gaming platform.

YGG was trading around $0.142 before the rally. However, it rose to $0.213 in one swift move following the announcement. Within the following hour, the asset climbed further to $0.218. While YGG surged to higher prices on other trading platforms, it was hovering around $0.191 at the time of writing. 

Notably, the token’s market has also risen by double digits, while its 24-hour volume has spiked by triple digits.

Despite this impressive performance, YGG still trades 98% below its November 2021 all-time high of $11. About four days ago, during the most recent market crash, the asset hit an all-time low of $0.076. Yield Guild Games’ latest price is about 163% up from its all-time low.

Upbit Lists YGG

According to Upbit’s announcement, the YGG/KRW and YGG/USDT trading pairs went live on October 15 at 2:30 pm Korean time. The exchange restricted all types of orders, except for limit orders, for two hours after the trading pairs were listed.

Additionally, Upbit restricted the buy limit approximately five minutes after trading support began. The minimum selling price limit was less than 10% of the previous day’s closing price. This was also restricted for roughly five minutes after the trading support period.

The Korean trading platform warned users to confirm their networks before depositing their YGG, as certain chains are not supported for the token.

Creating Opportunities for Web3 Gamers

It is worth mentioning that the Upbit listing is not the only recent remarkable event in the YGG ecosystem. The team behind the project is building a rewards pool to incentivize player participation in its games.

Over 24 hours ago, the YGG Treasury announced that it has added 25 million YGG to the Rewards Contract on the Ethereum layer-2 scaling solution, Abstract Chain. The addition, along with previous and upcoming YGG allocations, is aimed at increasing player participation on the YGG Play Launchpad. The project intends to drive new and existing players to its ecosystem on the abstract chain.

YGG Play is a publishing division that Yield Guild Games uses to develop and distribute games under its brand. The Launchpad, set to debut on October 15, aims to streamline game discovery, token launches, and player rewards. YGG believes the launch of a rewards pool for its Launchpad strengthens its community-to-player growth and fosters long-term ecosystem sustainability.

Besides the 25 million YGG rewards pool on Abstract Chain, Yield Guild Games has launched other initiatives in the past to increase community engagement. Yesterday, the project allocated 50 million tokens to an on-chain treasury pool targeting liquidity provision, strategic gaming investments, and decentralized finance (DeFi) yields. 

In addition, YGG has partnered with the blockchain gaming protocol, Immutable, to launch a $1 million rewards pool to incentivize players involved in quests. 

Interestingly, YGG founder Gabby Dizon mentioned in an interview with Cointab last year that the project’s mission is to create opportunities for players to attain life success with their gaming skills. Apparently, the firm has been putting in efforts to keep the mission alive.

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