Yield Guild Games (YGG), a commonage of play-to-earn gamers, completed its initial DEX offering via SushiSwap's Miso platform in nether a minute earlier on Tuesday.

The offering saw YGG heighten roughly $12.5 million on Tuesday, with the token auction distributing 25 million tokens or 2.5% of the project'south 1-billion token supply via a dutch auction. The YGG tokens were sold for roughly $0.fifty each.

Disappointed investors criticized the sale after 32 wallets wearied the resource allotment in 31 seconds, fifty-fifty though YGG's Discord membership exceeds 47,000.

A unmarried address appears to accept been able to nab iv.five million tokens or 18% of the coins available in the offering, although onlookers accept speculated the purchaser was probable a pool.

YGG co-founder Gabby Dizon told Cointelegraph the project has been in touch on with some of the buyers, noting the purchasing addresses represented groups of long-term community members who had "[pooled] majuscule together for a big purchase."

"So, it's non simply 32 whales that bought in; information technology was 32 wallets that represented different groups of long-term believers of our vision."

Dizon as well noted the token is scheduled to brainstorm trading on SushiSwap later on Wednesday with plenty of liquidity, providing investors additional opportunities to admission the YGG token.

In a blog postal service, Dizon thanked the project's customs for its back up and participation, stating, "We are looking forward to boot off our customs airdrop where YGG tokens volition be given to the most agile and engaged members of our guild, especially those who take been with us from the beginning."

Moving forrad, Yield Gild Games will presently complete a community airdrop to distribute tokens to its nearly active members. The project will also launch a community mining program shortly.

YGG as well intends to expand its sponsorship programme, which facilitates the donation of Axie Infinity in-game currency Small Love Potion (SLP) to YGG players for breeding Axies — collectible fantasy creatures that inhabit the game.

Final month, YGG raised $4 1000000 in a Series A funding round featuring participation from Mechanism Majuscule, ParaFi Capital and lead investor Bitkraft Ventures.