Magic and memes! (Just kidding. Kind of.)
First things first: YMYM is money.
Like other popular cryptocurrencies, YMYM works by utilising blockchain technology. Unlike a lot of other popular cryptocurrencies, though, the fees to send YMYM are extremely small, and the speed by which YMYM transactions are confirmed is relatively fast.
Simply put, if you would like to send money to someone who is located anywhere in the world — or receive money from someone who is located anywhere in the world — without using a centralised bank and paying foreign currency exchange and transfer fees, then YMYM can work for you!
Furthermore, YMYM can be used to purchase goods and services, and for tipping people on popular social-media platforms like Reddit and Twitter. See Community and Ecosystem for more information on how YMYM can be used and how it works!
Go in depth!
If you want to know more about how YMYM works, check the following in-depth articles.