Gone in 30 Seconds: Yield Guild Games' $12.5M Token Sale Sells Out Fast

Some tokens will distributed to members of the startup's community.

AccessTimeIconJul 29, 2021 at 7:16 a.m. UTC
Updated Sep 14, 2021 at 1:32 p.m. UTC

Decentralized gaming startup Yield Guild Games (YGG) sold all 25 million of its native tokens at breakneck speed.

  • The YGG tokens raised $12.5 million in Circle's USD-pegged stablecoin, USDC, according to a blog post on Wednesday.
  • The sale was conducted via open-source smart contracts platform MISO on the SushiSwap exchange. It began at 14:00 UTC (10 a.m. ET) and lasted a total of 31 seconds.
  • With the completion of its token sale, the launch of the YGG decentralized autonomous organization is now "officially underway," the company said.
  • YGG touts itself as a "play-to-earn gaming guild," attracting gamers to its platform in order to earn tokens through blockchain-based economies.
  • First up in its order of business will be the distribution of YGG tokens among its community as a means of rewarding early participation, YGG said.
  • Up to 45% of the total YGG token supply is reserved for the community and will be "slowly dispersed" over a four-year period.
  • As of Wednesday, YGG tokens are available for trading on decentralized exchanges.
  • The move comes shortly on the heels of a $1.3 million fundraising round in March, which garnered interest from the likes of Delphi Digital and BlockTower Capital, among others.
  • The project also raised $4 million in June in a funding round that was led by Bitkraft Ventures with participation from ParaFi Capital and Mechanism Capital.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Read more about