If you are a gamer, you are probably aware of the various games available to you. From massively multiplayer online games (MMOGs) to free games like Zynga Poker, there are literally hundreds of games out there to choose from. And with so many great games on the market, you are sure to find one that suits you. However, what you might not realize is that there are other options for gamers who are looking to play games that offer rewards.
Axie Infinity
There is a lot of interest in the development of Play-to-Earn (P2E) games in the Philippines. Axie Infinity has been a game that has caught the attention of a lot of people. This is because it is a crypto-based game that can offer its players a decent amount of income in some places.
Yield Guild Games, a crypto-focused gaming guild, will be expanding its P2E portfolio to other games. According to its white paper, it is a group of investors and gamers who buy and lend in-game nonfungible tokens (NFTs) to players in developing countries.
As an example, the company recently acquired a 46th-largest carbonaceous asteroid in the web3 space strategy game Influence. It has also invested in other games such as Splinterlands, Mavia, and Vulcan Verse.
The group’s main token is YGG. Players can use the token to participate in games, vote in YGG DAO, and unlock unique content on YGG Discord. They can also stake in the vaults or invest in guild revenue streams.
Axie Infinity is a game that can earn its players more than minimum wage in certain countries. However, the game is not free to play. Its in-game rewards, such as Small Love Potions (SLP), can be sold on the market and converted to other cryptocurrencies.
In June 2018, Jeffrey Zirlin, co-founder of Yield Guild Games, visited the Philippines for a meetup. At the event, he spoke about the future of the game. He explained how he planned to build on the success of the original game.
One of the games Yield Guild Games has a stake in is the League of Kingdoms. The company is also a member of the Alliance in the game.
Yield Guild Games has also been investing in other blockchain games. These include Vulcan Verse, DeHorizon, and Star Atlas.
Currently, the company’s community has over 48,000 members worldwide. It has been attracting games and esports venture capital firms as well. YGG recently secured support from US-based crypto exchange Coinbase.
YGG’s founding team has proposed investing 83.3% of their money to acquire and lend NFTs. In addition to that, they have plans to decentralize the organization.
SubDAOs
One of the latest trends in the blockchain gaming space is the rise of play-to-earn games. This trend has attracted users from all over the world. However, not all players have the resources to buy and play NFTs. To meet these requirements, Yield Guild Games developed a solution. It provides a platform for players to rent in-game NFTs.
Yield Guild Games has built its own Decentralized Autonomous Organization (DAO) using the Ethereum network. As a community-centric organization, YGG prioritizes the interests of its members. In addition, it has a unique treasury that aims to maximize the value of its assets.
Initially launched in the Philippines in 2020, YGG has since expanded to other parts of the globe. Its mission is to establish the world’s largest virtual economy. YGG token holders can participate in guild activities and earn passive income through staking their assets.
The company also offers scholarships to members. These scholars are granted access to in-game NFTs that they can use to participate in P2E games. They can’t sell these rented assets without permission of the managers. When they’re done, they’ll share their in-game earnings with the guild.
SubDAOs are another important aspect of YGG. These communities are groups of players from the same NFT game. Each group has rules on how they can manage the game. Members can vote on investment strategies and management strategies. A higher-performing SubDAO will contribute more to the overall DAO.
Yield Guild Games will offer incentives to encourage more participation in its SubDAOs. Better SubDAO members will be rewarded for their contributions. All contributors will receive a percentage of the gamers’ in-game earnings.
Yield Guild Games has set aside 45% of its YGG token supply for community activities. This allocation will be distributed gradually over four years. Some of the activities will include airdrops, special incentives and achievement rewards.
By leveraging its DAO infrastructure, Yield Guild Games aims to bring its members together and to create a more localized sense of community. The community will also be able to shape the future of YGG DAO.
Scholarship program
One of the most innovative play-to-earn games, Axie Infinity, is now offering a unique scholarship program. The scholarship program enables new players to borrow NFTs to participate in the game. This allows them to earn rewards in the game without spending any money.
Axie Infinity is a P2E (play-to-earn) blockchain game that uses the Ethereum platform. In addition to being built on the blockchain, it also introduced a guild system, a scholarship program and an eSports team.
The game has a competitive circuit that allows scholars to earn rewards from playing the game and competing with other scholars. In addition to a high earning potential, players can also receive guidance and coaching from the gaming guild.
As of February, Axie Infinity has a scholarship community of over 20 thousand players. Scholarships are available for players in more than 40 games, including Fancy Birds, Aavegotchi, CyBall, and VulcanVerse. However, the scholarship application process differs from game to game.
There are three main types of scholarships available through the Yield Guild Games platform. First, there is the Sponsor-A-Scholar program. Scholars who have contributed funds to YGG and received rewards for their effort can continue to participate in the game.
Second, there is the in-game NFT rental program. Players who do not want to buy the game’s NFTs can rent them from a guild member. These assets are stored in the treasury of the guild. Any revenue generated is split between the scholar, the manager, and the guild.
Finally, there is the YGG DAO, which offers scholarships across multiple games. Currently, it distributes 70 percent of the total revenue to the scholars. YGG has plans to reduce the barriers to accessing NFTs.
For more information, you can read Yield Guild’s community update on Medium. Moreover, there are official Telegram and Discord groups. You can join them to ask questions about the scholarship program and team roadmaps.
Unlike other P2E games, there is no minimum amount of YGG tokens required to start playing. Instead, scholars can earn in-game tokens by simply participating in the game.
Business model
Yield Guild Games (YGG) is an innovative blockchain project that combines aspects of decentralized finance, play-to-earn games, and metaverse gaming. The project’s main token is the YGG token, which operates on the Ethereum blockchain.
Yield Guild Games encourages community engagement through social networks. Members can engage in voting, scholarship opportunities, and technological developments. In addition, the company has created a community-focused DAO.
Aside from the YGG DAO, the project also has several SubDAOs. These are autonomous organizations that manage specific games and parameters. They operate through smart contracts. Each one of these SubDAOs has its own governance structure.
YGG has received investments from various companies including Mechanism Capital, SevenX Ventures, Gumi Cryptos Capital, Scalar Capital, IDEO CoLab, and BlockTower Capital. One of the earliest investments was from G2 Esports CEO Carlos Rodriguez.
The company uses an open-source platform to create virtual worlds for play-to-earn games. Players earn rewards by playing these games and participating in their respective guilds. As players play, they receive the YGG token, which can be used to purchase items or other goods. YGG will also launch staking vaults to help the community earn tokens.
Yield Guild has over 20,000 registered players. Ninety-seven percent of these are in micro-guilds, with ten to a hundred members. Most of these guilds were formed during the speculative bull market of the past two years.
YGG is in the process of creating an index vault that will contain all the activities that yield rewards. This will be the basis for a distribution of YGG tokens. While the mechanism behind this is not known, the development team assures users that their community will come first.
Besides its community-centric structure, Yield Guild has a unique business model. It encourages players to invest in NFTs, which they can earn from playing various P2E games. Moreover, a rental program has been launched, which benefits the owners of non-gaming NFT assets.
The company’s focus is on Southeast Asia. However, it has expanded its reach to the rest of the world. With a total supply of over a million tokens, YGG is poised to become a major player in the crypto economy.