I previously mentioned YGG's buyback actions
and have updated it multiple times.
The subsequent price performance has been quite good.
Now they have announced a new round of $1M buyback.
Along with previous operations,
the buyback multi-signature wallet now holds 12,240,530 $YGG (approximately 2% of the circulating supply).
Currently, the market generally gives positive feedback on such cash buyback projects, and this wave is also worth looking forward to.
At the recent KBW event,
YGG also collaborated with the penguin Pengu on several initiatives. Do you remember I mentioned that they might launch a launchpad?
They have officially announced plans to launch their first Launchpad project - LOL Land ($LOL) on October 1 at Token2049. The YGG Play Launchpad features: game tokens with an initial market cap of less than $1M, breaking the "high FDV, low circulation" issuance pattern, and directly leaving the dividends to users. This platform can be compared to Virtuals in the GameFi space and is bound to become the most promising token incubator in the blockchain gaming ecosystem.
YGG co-founder Gabby Dizon even discussed consumer-level growth in crypto applications with Luca Netz of Pudgy Penguins. @pudgypenguins choosing to collaborate with YGG shows their top-tier IP vision is unquestionable.
Currently, YGG has completed a total of $2.5M in buybacks, and with the must-mention LOL Land, this game alone has generated $3.7M in revenue, with $1.9M last month, increasingly proving that the model is healthy and sustainable without any issues. At the current price of $0.155, the market cap is only $90M, with the circulating supply approaching 60%, and selling pressure is gradually decreasing. With the support of the Launchpad narrative, the fundamentals are quite solid, making it a target worth tracking in the long term. @YieldGuild
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