Yield Guild Games Southeast Asia (YGG SEA), a sub-decentralized autonomous organization (subDAO) of the Philippines-based blockchain gaming startup Yield Guild Games (YGG), has announced that it plans to conduct an Initial DEX Offering (IDO) public sale between May 9th and May 14th. The IDO shall be conducted on the Copper Launchpad and shall start at 15:00 UTC on May 9.
A total of 75 million SEA tokens will be up for grabs during the IDO public sale, which is 7.5% of the total supply of SEA tokens, which stands at one billion tokens.
The starting price of SEA during the IDO will be $0.50.
Commenting about the IDO, the YGG SEA Co-founder, Irene Umar, said:
“The IDO is a once-in-a-lifetime opportunity to appreciate our community’s unconditional support. 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. DYOR, all I can say: what you see today is just the beginning of what will unfold in the coming months.”
YGG SEA had earlier raised $15 million from notable investors including Crypto.com Capital, Polygon, Animoca Brands, and Solana Ventures, among others in two rounds.
After the IDO, YGG SEA plans to expand into three additional countries over a span of six months, with a target of achieving complete coverage by 2024.
What is YGG SEA?
YGG SEA is a decentralized autonomous organization for acquiring and managing NFTs used in the Yield Guild Games metaverse. It is the first subDAO of the Yiled Guid Games and its mission is to create the biggest and most sustainable play-to-earn virtual economy in Southeast Asia.
YGG SEA is also a founding member of the Asia Blockchain Gaming Alliance.
The SEA token
SEA Token is the native token of the YGG SEA and it acts as the governance token. It gives members the right to vote on governance proposals, desired features, and reward models reflecting local needs, ecosystem reward allocations, and whitelist opportunities for both GameFi and non-GameFi NFTs.
The YGG SEA guild will give every member of the community a chance of participating in the IDO.