Yield Guild Games said tough crypto and video game market conditions mean its YGG Play business is no longer commercially sustainable.
Crypto gaming company Yield Guild Games says it has shut down its crypto game publishing arm, YGG Play, and will instead focus on feeding data to artificial intelligence.
Yield Guild Games said Monday that it would also lay off 35 employees, adding that a prolonged crypto market downturn and a “similarly brutal” video game publishing market meant YGG Play “cannot be commercially sustainable.”
It said a major market crash on Oct. 10 “fundamentally altered retail market psychology, and we do not expect the crypto consumer market or the Web3 games publishing market to recover sufficiently in the near term.”
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