Taipei City, Taiwan, May 4, 2022 — Yield Guild Games Southeast Asia (YGG SEA), a sub-decentralized autonomous organization subDAO of the Philippines-based blockchain gaming startup YGG, has announced its upcoming initial decentralized exchange offering (IDO) of SEA Token on the Copper launchpad.
The SEA Token launch auction will commence on the Copper platform at 3 pm UTC on May 9 until May 14. A total of 75 million SEA tokens have been allocated to the IDO public sale, representing 7.5% of the 1-billion total supply. The starting price is $0.50.
“The IDO is a once-in-a-lifetime opportunity to appreciate our community’s unconditional support,” said Irene Umar, YGG SEA co-founder. “We are where we are because of the community, and we would like the community to own a piece of YGG SEA through the IDO. ’Do your own research,’ is all I can say: What you see today is just the beginning of what will unfold in the coming months.”
SEA is the governance token of YGG SEA. It gives community members the right to vote on governance proposals, ecosystem reward allocations, desired features and reward models that reflect local needs, and whitelist opportunities for GameFi and non-GameFi nonfungible tokens.
Since the community is at the core of YGG SEA, the guild is committed to giving everyone the opportunity and time to participate in the IDO in a fair and transparent manner. Copper is the most decentralized and user-friendly way to participate in a specific configuration of Balancer’s liquidity bootstrapping pools, allowing a more equitable distribution of tokens for all participants.
The token launch auction on Copper allows for real-time price discovery, open and permissionless participation, and fair distribution of tokens. It disincentivizes front-running bots and whales to get the SEA token into the hands of as many participants as possible.
YGG SEA is the leading guild for the SEA region, having invested in 76 projects since November 2021. Ten games have become accessible to the YGG SEA guild members, and more will launch this year. The platform currently has offices in Indonesia, Thailand, Malaysia and Vietnam. Following the IDO, YGG SEA plans to expand into three additional countries in six months, with complete regional coverage planned by 2024.
YGG SEA had earlier raised $15 million in two rounds from notable investors, including Crypto.com Capital, Animoca Brands, Solana Ventures, Polygon and others.
About YGG SEA
YGG SEA, the first subDAO of Yield Guild Games, is a DAO for acquiring and managing NFTs used in the metaverse. Its mission is to create the biggest and most sustainable play-to-earn virtual economy in SEA. YGG SEA is a founding member of the Asia Blockchain Gaming Alliance.
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