Yield Guild Games Abandons Web3 Publishing Arm Amid Crypto Bear Market

Yield Guild Games (YGG) has made a major shift away from its Web3 publishing arm, YGG Play, due to the impact of last year's October 10 crash on the crypto market. This decision is part of an effort by YGG to secure its survival in the increasingly AI-driven ecosystem.

YGG Play, which had generated lifetime revenue exceeding $9 million, was unable to achieve commercial sustainability despite its success. The company cited the 10/10 crash as a key factor contributing to the current bear market and stated that it is unlikely to recover sufficiently in the near term.

As a result of this decision, 35 employees have lost their jobs, and the YGG Play website and social handles will be retired. However, YGG's co-founder Gabby Dizon emphasized that the company remains committed to its mission of using technology to create new economic opportunities globally.

In an effort to ensure its survival, YGG is pivoting its business model to provide AI gaming datasets for other companies. This move aims to extend the company's operating runway by four years with $20.6 million in its treasury.