Before trading any crypto assets it is important to understand the risks. This overview summarizes certain risks associated with YGG.
No securities regulatory authority has expressed an opinion about YGG, including an opinion that YGG itself is not a security and/or derivative.
Token Description & Project Background
Yield Guild Games is a DAO-managed gaming collective that orchestrates the efforts of a global network of players in pursuit of token-based rewards via the play-to-earn (P2E) space.
Designed to combat the initial cost barriers associated with P2E and the metaverse, the guild acts as a capital markets layer, acquiring necessary NFTs to lower the barrier for entry to the various games for everyday players.
Yield Guild Games is a Philippines-based project founded by Deryl Li and Gabby Dizon in 2020.
YGG is the native asset of Yield Guild Games. It’s used for governance. It also acts as a means of exchange on the network.
Risks of YGG
Like an investment in other crypto assets, there are some general risks to investing in YGG. These include: (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to thestatement.
In addition to these general risks, an investment in YGG is subject to the following specific risks:
- Any potential success associated with YGG is dependent on its rate of adoption by users.
- Any potential success associated with MYTH is dependent on a number of external factors, such as the growth and increased adoption of the metaverse economy, and the continued popularity of NFTs as digital collectibles.
We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with YGG. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.
The YGG community and its community managers are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of YGG have no recourse to the YGG community, its community managers, or Uphold if YGG declines in value for any reason.
Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.
Uphold’s Evaluation Process
Prior to listing YGG on the Uphold Platform, Uphold performed due diligence on YGG and determined that YGG is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following:
- The creation, governance, usage, and design of YGG, including ensuring the source code being open-source, audited and peer reviewed, security, and roadmap for growth in the developer community.
- The supply, demand, maturity, utility, and liquidity of YGG.
- Marketing materials put forward by the YGG social team including, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
- Material technical risks associated with YGG, including any code defects, security breaches and other threats concerning YGG and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
- Legal and regulatory risks associated with YGG, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of YGG.
Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.
Uphold users should read thestatement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.
Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following. Please also review the for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and statement.
Last updated on June 12, 2023.
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