Audit log

Every state-changing event for yg: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-06-23 17:04:25Z
   Score: ? → ? (no score change)
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   {"actor":"system:backfill","investigation_id":"6c537a8c-5995-4281-baf5-493283953a44","kind":"publish","page_slug":"yg","published_at":"2026-06-23T17:04:25.424Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"yg","sections":[{"content":"Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) focused on web3 gaming, initially built around the concept of pooling NFT assets and lending them to players ('scholars') who could not afford to purchase their own. The project was co-founded in October 2020 by Gabby Dizon, a 20-year gaming industry veteran who co-founded Altitude Games in 2014, alongside fintech entrepreneur Beryl Li, a Cambridge University alumna who served as President of the university's Cryptocurrency Society in 2016, and a developer known as Owl of Moistness. The guild model originated from Dizon's practice of lending his own Axie Infinity NFTs to players in the Philippines who lacked capital to start playing the popular blockchain game. YGG describes itself as the world's first and largest web3 gaming guild, with a mission to become the leading community-based user acquisition platform in web3 gaming. The organization is notably Filipino-led and marked a16z Crypto's first investment in a Filipino-founded startup.","heading":"Overview and Background","severity":"low","sources":[{"credibility":2,"name":"What Is Yield Guild Games (YGG)? - CoinMarketCap","type":"research","url":"https://coinmarketcap.com/academy/article/what-is-yield-guild-games-ygg"},{"credibility":2,"name":"Yield Guild Games Organizations - IQ.wiki","type":"other","url":"https://iq.wiki/wiki/yield-guild-games"},{"credibility":2,"name":"Investing in Yield Guild Games - a16z Crypto","type":"official","url":"https://a16zcrypto.com/posts/article/investing-in-yield-guild-games/"}]},{"content":"YGG launched its native governance token in July 2021 with a total supply capped at one billion tokens. The token distribution allocated 45% to community incentives, 15% to founders, 13.25% to seed investors, 11.67% to treasury, 4.44% to Series A-1, 2.50% to public sale, 2.50% to a Series 4 round, 2.22% to Series A-2, and 1.75% to advisors. In August 2021, a16z Crypto led a $4.6 million funding round, with participation from Kingsway Capital, Infinity Ventures Crypto, Atelier Ventures, and gaming entrepreneur Gabriel Leydon. The a16z deal terms included a four-year agreement with a two-year lock-up period and two-year vesting schedule. In August 2023, YGG raised a further $13.8 million in a token sale co-led by DWF Labs and a16z Crypto, with Galaxy Interactive, Sangha Capital, and Sanctor Capital also participating. Co-founder Gabby Dizon stated the 2023 raise would be used to develop soulbound reputation token technology.","heading":"Token Launch and Funding","severity":"low","sources":[{"credibility":1,"name":"A16z Leads $4.6M Investment in Yield Guild Games - CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2021/08/19/a16z-leads-46m-investment-in-yield-guild-games"},{"credibility":2,"name":"Yield Guild Games raises $13.8 million in token sale led by DWF Labs, a16z crypto - Finbold","type":"news_article","url":"https://finbold.com/yield-guild-games-raises-13-8-million-in-token-sale-led-by-dwf-labs-a16z-crypto/"},{"credibility":2,"name":"YGG Raises $4.6M Led By a16z - Medium/YGG","type":"official","url":"https://medium.com/yield-guild-games/ygg-raises-4-6m-from-a16z-to-accelerate-play-to-earn-gaming-7f5cbccce657"}]},{"content":"YGG launched in July 2021 at approximately $1.50 and surged to an all-time high of approximately $11.27 on November 20, 2021, coinciding with the peak of the Axie Infinity and play-to-earn boom. By January 2022, the price stood at approximately $3.57, and by the end of 2022, it had fallen to approximately $0.16, representing a decline of approximately 96.94% from the year's opening price and a loss of over 98% from the all-time high. In August 2023, the token experienced a secondary surge of approximately 600%, briefly reaching $0.9254, before crashing to approximately $0.36 in less than 24 hours. This rapid reversal was attributed to large-scale selling by institutional investors: venture capital firm Bitkraft Ventures and market maker DWF Labs moved significant YGG holdings to Binance, while market maker Wintermute Trading deposited approximately 11 million YGG tokens (approximately $6.7 million) to various exchanges, generating heavy sell-side pressure. As of mid-2026, the YGG token trades at approximately $0.025–0.03, representing a decline of over 99% from its all-time high. The current CoinMarketCap ranking is approximately #665 with a market cap of approximately $24 million.","heading":"Token Price Collapse and Market Performance","severity":"high","sources":[{"credibility":2,"name":"What caused Yield Guild Games (YGG) to crash after the 600% surge? - Invezz","type":"news_article","url":"https://invezz.com/news/2023/08/08/what-caused-yield-guild-games-ygg-to-crash-after-the-600-surge/"},{"credibility":2,"name":"Big Yield Guild Games (YGG) Price Crash Anticipated Amid $6.7M Transfer to Crypto Exchanges - CoinChapter","type":"news_article","url":"https://coinchapter.com/big-yield-guild-games-ygg-price-crash-anticipated-amid-6-7m-transfer-to-crypto-exchanges/"},{"credibility":2,"name":"Yield Guild Games Price History - CoinGecko","type":"on_chain","url":"https://www.coingecko.com/en/coins/yield-guild-games"},{"credibility":2,"name":"Yield Guild Games Price - CoinMarketCap","type":"on_chain","url":"https://coinmarketcap.com/currencies/yield-guild-games/"}]},{"content":"YGG's original business model centered on a scholarship program in which the organization lent NFT gaming assets to players, primarily in the Philippines and other Southeast Asian countries, who could not afford to purchase them. Scholars would play games like Axie Infinity and split earnings with YGG and its asset managers. This model came under scrutiny as the underlying play-to-earn economics proved unsustainable. Critics noted that scholars are exposed to token-price volatility since payouts are distributed in in-game tokens whose dollar value fluctuates. A deeper structural concern is that as game economies matured and corrected, lower payouts and reduced yields undermined the core value proposition for scholars. The collapse of Axie Infinity's in-game economy in 2022 directly impacted YGG's model, as its token value and the earnings capacity of scholars both declined sharply. YGG acknowledged the need to adapt and subsequently pivoted away from its Axie-centric scholarship model toward a diversified multi-game strategy.","heading":"Play-to-Earn Collapse and Scholarship Model Sustainability","severity":"medium","sources":[{"credibility":2,"name":"Yield Guild Games: Update and Outlook - Naavik","type":"research","url":"https://naavik.co/digest/yield-guild-games-update/"},{"credibility":2,"name":"Yield Guild Games (YGG): Web3 Gaming Guild, Token Utility & Risks - Iconomi","type":"research","url":"https://www.iconomi.com/blog/yield-guild-game-ygg"},{"credibility":2,"name":"Gaming Guild YGG Pulls Out the Stops to Weather a Brutal Bear Market - The Defiant","type":"news_article","url":"https://thedefiant.io/ygg-play-to-earn-bear-market-gaming-guilds"}]},{"content":"YGG's token distribution has drawn scrutiny from analysts regarding the concentration of tokens among insiders and the potential sell pressure generated by vesting unlocks. The total supply is one billion YGG tokens. Public sale tokens (25 million YGG) were fully unlocked on July 27, 2023, coinciding with a period of significant price volatility. Advisor allocations were also fully unlocked in July 2023. The August 2023 price surge and subsequent crash was linked in part to institutional holders moving large quantities of tokens to exchanges ahead of or following unlock events. The presence of Wintermute Trading (a market maker) and DWF Labs (a 2023 investor) among significant sellers following the 600% surge raised questions about whether the rally was artificially induced. No formal regulatory finding has been made on this question.","heading":"Tokenomics and Vesting Concerns","severity":"medium","sources":[{"credibility":2,"name":"Yield Guild Games YGG Token Unlocks, Vesting Schedule & Tokenomics - DropsTab","type":"on_chain","url":"https://dropstab.com/coins/yield-guild-games/vesting"},{"credibility":2,"name":"Yield Guild Games (YGG) Tokenomics & Vesting Schedule - Tokenomist","type":"on_chain","url":"https://tokenomist.ai/yield-guild-games"},{"credibility":2,"name":"What caused YGG to crash after the 600% surge? - Invezz","type":"news_article","url":"https://invezz.com/news/2023/08/08/what-caused-yield-guild-games-ygg-to-crash-after-the-600-surge/"}]},{"content":"YGG has publicly warned its community of an increasing number of impersonation scams. Scammers have created fake YGG social media accounts on Facebook and other platforms that mimic official accounts. Separately, scammers have impersonated YGG via email, promoting allegedly concluded Ronin airdrops to steal personal information from community members. YGG has advised its community not to click any emails claiming to offer token rewards. These scams represent third-party exploitation of YGG's brand rather than conduct by YGG itself. YGG has clarified that it does not initiate contact, solicit investments, or conduct business via Telegram direct messages.","heading":"Impersonation Scams Targeting YGG Community","severity":"medium","sources":[{"credibility":2,"name":"YGG Alert: Fake YGG Social Media Accounts - X (Twitter)","type":"official","url":"https://x.com/YieldGuild/status/1904383245229457740"},{"credibility":2,"name":"YGG Advisory: Scammers Impersonating YGG via Email - X (Twitter)","type":"official","url":"https://x.com/YieldGuild/status/1793623814037008799"}]},{"content":"No known SEC, CFTC, DOJ, or other major regulatory enforcement actions have been identified against Yield Guild Games or its founders as of mid-2026. YGG acknowledges in its disclosures that there are legal and regulatory risks associated with YGG tokens, including any pending, potential, or prior civil, regulatory, criminal, or enforcement actions relating to the issuance, distribution, or use of YGG. No specific lawsuits or regulatory proceedings have been confirmed through available public sources. The project operates as a DAO with its token listed on major exchanges including Binance, OKX, KuCoin, Gate.io, and others without documented regulatory restriction.","heading":"Regulatory and Legal Status","severity":"low","sources":[{"credibility":2,"name":"Yield Guild Games (YGG) - Wealthsimple Help Centre","type":"official","url":"https://help.wealthsimple.com/hc/en-ca/articles/34176961164187-Yield-Guild-Games-YGG"},{"credibility":2,"name":"Yield Guild Games - World Economic Forum","type":"other","url":"https://www.weforum.org/organizations/ygg/"}]},{"content":"Following the collapse of play-to-earn gaming economies, YGG has pivoted substantially from its original Axie Infinity-dependent scholarship model. YGG Studios debuted in May 2025, shifting strategy toward directly publishing blockchain games. The YGG Play arm launched the YGG Play Launchpad and the $LOL token, with partnerships including Pudgy Penguins. The 'Casual Degen Gaming' strategic initiative for 2025 featured the game LOL Land, which reportedly generated over $8.2 million in lifetime revenue and attracted over 709,000 unique players. YGG also introduced the Guild Advancement Program (GAP), Onchain Guilds on Base, and a soulbound reputation token system. In 2024, YGG allocated $7.5 million from its treasury to an on-chain ecosystem pool for yield farming and liquidity provision. The organization reported ending 2025 with a treasury valued at approximately $21.5 million and repurchased over $1.1 million in YGG tokens during Q4 2025.","heading":"Current Strategy and Pivot","severity":"low","sources":[{"credibility":2,"name":"Latest Yield Guild Games News - CoinMarketCap","type":"news_article","url":"https://coinmarketcap.com/cmc-ai/yield-guild-games/latest-updates/"},{"credibility":3,"name":"Yield Guild Games 2025 - X (Twitter)","type":"social_media","url":"https://x.com/YieldGuild/status/1874078786481692863"}]}],"sources_used":[{"credibility":2,"name":"Yield Guild Games - CoinGecko","type":"on_chain","url":"https://www.coingecko.com/en/coins/yield-guild-games"},{"credibility":2,"name":"Yield Guild Games - CoinMarketCap","type":"on_chain","url":"https://coinmarketcap.com/currencies/yield-guild-games/"},{"credibility":1,"name":"A16z Leads $4.6M Investment in Yield Guild Games - CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2021/08/19/a16z-leads-46m-investment-in-yield-guild-games"},{"credibility":2,"name":"Yield Guild Games raises $13.8 million in token sale led by DWF Labs, a16z crypto - Finbold","type":"news_article","url":"https://finbold.com/yield-guild-games-raises-13-8-million-in-token-sale-led-by-dwf-labs-a16z-crypto/"},{"credibility":2,"name":"What caused Yield Guild Games (YGG) to crash after the 600% surge? - Invezz","type":"news_article","url":"https://invezz.com/news/2023/08/08/what-caused-yield-guild-games-ygg-to-crash-after-the-600-surge/"},{"credibility":2,"name":"Investing in Yield Guild Games - a16z Crypto","type":"official","url":"https://a16zcrypto.com/posts/article/investing-in-yield-guild-games/"},{"credibility":2,"name":"Yield Guild Games: Update and Outlook - Naavik","type":"research","url":"https://naavik.co/digest/yield-guild-games-update/"},{"credibility":2,"name":"Yield Guild Games (YGG): Web3 Gaming Guild, Token Utility & Risks - Iconomi","type":"research","url":"https://www.iconomi.com/blog/yield-guild-game-ygg"},{"credibility":2,"name":"Gaming Guild YGG Pulls Out the Stops to Weather a Brutal Bear Market - The Defiant","type":"news_article","url":"https://thedefiant.io/ygg-play-to-earn-bear-market-gaming-guilds"},{"credibility":2,"name":"YGG Alert: Fake Social Media Accounts - X (Twitter)","type":"official","url":"https://x.com/YieldGuild/status/1904383245229457740"},{"credibility":2,"name":"Yield Guild Games (YGG) Tokenomics & Vesting Schedule - Tokenomist","type":"on_chain","url":"https://tokenomist.ai/yield-guild-games"},{"credibility":2,"name":"Yield Guild Games YGG Token Unlocks - DropsTab","type":"on_chain","url":"https://dropstab.com/coins/yield-guild-games/vesting"},{"credibility":2,"name":"Yield Guild Games - World Economic Forum","type":"other","url":"https://www.weforum.org/organizations/ygg/"},{"credibility":2,"name":"What Is Yield Guild Games (YGG)? - Binance Academy","type":"research","url":"https://academy.binance.com/en/articles/what-is-yield-guild-games-ygg"},{"credibility":2,"name":"YGG Secured $13.8M Funding - DWF Labs","type":"official","url":"https://www.dwf-labs.com/news/156-ygg-secures-13-8m-token-sale-in-a-round-led-by-a16z-crypto-and-dwf-labs"},{"credibility":3,"name":"Founder Stories: Gabby Dizon - Medium","type":"news_article","url":"https://medium.com/morningstar-ventures/founder-stories-gabby-dizon-yield-guild-games-d0b36a1cf1c5"},{"credibility":2,"name":"Yield Guild Games - Crunchbase","type":"other","url":"https://www.crunchbase.com/organization/yield-guild-games"}],"summary":"Yield Guild Games (YGG) is a Philippines-based web3 gaming guild and decentralized autonomous organization that gained prominence during the 2021 Axie Infinity play-to-earn boom. The YGG token launched in July 2021, reached an all-time high of approximately $11.27 in November 2021, and subsequently lost over 99% of its value as the play-to-earn economy collapsed. The project has since pivoted toward multi-game community coordination and game publishing under the YGG Play brand, backed by major investors including a16z Crypto and DWF Labs.","timeline":[{"date":"2018-01-01","event":"Gabby Dizon begins lending Axie Infinity NFTs to players in the Philippines who cannot afford to buy their own, originating the guild concept.","source":"Founder Stories: Gabby Dizon - Medium","source_url":"https://medium.com/morningstar-ventures/founder-stories-gabby-dizon-yield-guild-games-d0b36a1cf1c5"},{"date":"2020-10-01","event":"Yield Guild Games formally launched by co-founders Gabby Dizon, Beryl Li, and Owl of Moistness.","source":"Yield Guild Games - IQ.wiki","source_url":"https://iq.wiki/wiki/yield-guild-games"},{"date":"2021-07-27","event":"YGG token launches; trading begins with an initial price of approximately $1.50.","source":"What Is Yield Guild Games (YGG)? - CoinMarketCap","source_url":"https://coinmarketcap.com/currencies/yield-guild-games/"},{"date":"2021-08-19","event":"a16z Crypto leads $4.6 million funding round in YGG, marking a16z's first investment in a Filipino-founded startup.","source":"A16z Leads $4.6M Investment in Yield Guild Games - CoinDesk","source_url":"https://www.coindesk.com/markets/2021/08/19/a16z-leads-46m-investment-in-yield-guild-games"},{"date":"2021-11-20","event":"YGG token reaches all-time high of approximately $11.27.","source":"Yield Guild Games Price History - CoinGecko","source_url":"https://www.coingecko.com/en/coins/yield-guild-games"},{"date":"2022-01-01","event":"YGG token price at approximately $3.57, beginning a sustained decline correlated with the collapse of Axie Infinity's in-game economy.","source":"Yield Guild Games (YGG) Price Prediction - CoinCodex","source_url":"https://coincodex.com/crypto/yield-guild-games/price-prediction/"},{"date":"2022-12-31","event":"YGG token closes 2022 at approximately $0.16, down approximately 96.94% from the year's opening price.","source":"Yield Guild Games (YGG) Price Prediction - CoinCodex","source_url":"https://coincodex.com/crypto/yield-guild-games/price-prediction/"},{"date":"2023-07-27","event":"Public sale and advisor token allocations fully unlock, releasing 25 million YGG tokens.","source":"Yield Guild Games YGG Token Unlocks, Vesting Schedule - DropsTab","source_url":"https://dropstab.com/coins/yield-guild-games/vesting"},{"date":"2023-08-08","event":"YGG token surges approximately 600% to $0.9254, then crashes within 24 hours, allegedly driven by large sells from Bitkraft Ventures, DWF Labs, and Wintermute Trading depositing approximately $6.7 million YGG to exchanges.","source":"What caused YGG to crash after the 600% surge? - Invezz","source_url":"https://invezz.com/news/2023/08/08/what-caused-yield-guild-games-ygg-to-crash-after-the-600-surge/"},{"date":"2023-08-01","event":"YGG raises $13.8 million in token sale co-led by DWF Labs and a16z Crypto, with plans to develop soulbound reputation token technology.","source":"Yield Guild Games raises $13.8 million in token sale - Finbold","source_url":"https://finbold.com/yield-guild-games-raises-13-8-million-in-token-sale-led-by-dwf-labs-a16z-crypto/"},{"date":"2025-05-23","event":"YGG Studios debuts, marking a strategic shift toward directly publishing blockchain games and launching the YGG Play Launchpad.","source":"Latest Yield Guild Games News - CoinMarketCap","source_url":"https://coinmarketcap.com/cmc-ai/yield-guild-games/latest-updates/"}]},"v":1}

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