The blockchain-based gaming startup Yield Guild Games (YGG) which has a subDAO named Yield Guild Games Southeast Asia (YGG SEA) has announced today an upcoming Initial DEX Offering (IDO) of its $SEA token.
The IDO will take place on the Copper Launchpad from May 9th to May 14th, starting at 15:00 UTC. From a total of 1 billion $SEA token supply, 75 million tokens have been allocated for this IDO. The starting price of each token is $0.50.
The $SEA token is the governance token of YGG SEA. Token holders will get the right to vote on governance proposals, ecosystem reward allocations and reward models that best reflect the needs of the community.
Token holders will also get whitelist opportunities for GameFi and non-GameFi NFTs. YGG SEA is committed to give everyone a fair and equal participation opportunity in the IDO.
Copper Launchpad has been chosen because the platform allows for real-time price discovery, and open and permissionless participation. The platform disincentivizes front-running bots and whales so that the token can be owned by as many people as possible.
YGG SEA is a decentralized autonomous organization, responsible for acquiring and managing NFTs in the metaverse. The guild has invested in more than 76 projects since November 2021.
The guild members currently have access to 10 games, with more games being launched this year. After the IDO, YGG SEA has plans to expand to three more countries (apart from Indonesia, Thailand, Malaysia, and Vietnam where it currently has offices) in the next six months. The guild plans to have a global presence by 2024.
Another subDAO backed by YGG is Ola GG. Ola GG raised $8 million in funding led by many big names like Galaxy Interactive, BITKRAFT and Arca among others. The funding was for the creation of Spanish-language educational content, to acquire NFTs and to multiply the acquisition of play-to-earn gaming in the U.S, Latin America and Spain.
