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First came NFTs, then play-to-earn games, and now,
as blockchain games are expanding out into the metaverse, comes gaming guilds!
Play-to-earn games have been a blessing for a number of enterprising people around the world
who lost their jobs in the midst of the pandemic.
Skilled gamers, especially those in developing countries, have been able
to earn a living wage in cryptocurrencies while enjoying games like Axie Infinity and Prelax.
But getting started as a gamer can be expensive! Avatars,
land, weapons and other assets cost real money that an aspiring game champion might not have.
This is where game guilds come in, offering services like gameplay training
and the rental of in-game NFTs to players.
In this video we’ll look at some of the emerging projects
in this relatively new corner of the cryptosphere.
Yield Guild Games is the original blockchain gaming guild, and the biggest by far.
The project, founded by an original member of the Axie Infinity team,
is organized as a DAO, with each game it supports acting as a “sub-DAO” within the ecosystem.
The first game the project supported was Axie Infinity, providing “scholarships”
for players who couldn’t afford the initial expense of the Axie NFTs needed to play. A
percentage of the earnings that players yield are sent back into the Yield Guild treasury.
The associated token, also named YGG, is primarily used to purchase in-game services, and for
renting NFTs. Tokens can also be staked to earn rewards and for use in DAO governance decisions.
Each subDAO also issues its own token, with subDao members having the freedom
to modify their own economic model as they see fit. In the long run,
the value of the YGG token will be determined by the success and popularity of it’s subDAOs.
As of February 2022, YGG supports competitors of 10 play-to-earn games,
including Star Atlas, The Sandbox and Zed Run. And venture capital fund a16z
recently organized a 4.6 million dollar funding round for the project’s continued expansion.
Another game guild is Merit Circle, launched in late 2021
by anonymous founders and developers. So far, just two games are supported on Merit Circle,
Axie Infinity and Vulcan Verse, though there are plans to support at least 18 games eventually.
Similar to Yield Guild Games, Merit Circle is governed by a DAO which provides scholarships
and educational opportunities, and has a native token for staking and governance.
In exchange, MC takes 30% of the profits earned by members who use its in-game assets to play!
The Merit Circle roadmap shows Q3 plans to provide brand leveraging opportunities such as eSports
teams and player sponsorships, which will be a logical next step for most gaming guilds.
Citizens of the Philippines have been among the most enthusiastic adopters of play-to-earn games.
Approximately 35% of Axie Infinity’s traffic is coming from the South East Asian nation,
where word of mouth, a strong gaming culture and English language proficiency
have allowed filipinos to take advantage of this emerging trend.
And Astra Guild Ventures is another Philippines-based gaming DAO
that invests in NFTs and play-to-earn games. The DAO also has the AGV Launchpad, which
encourages adoption of new NFT and blockchain projects through promotions and partnerships.
Astra Guild is also the first to provide completely open finances, with all earnings
displayed in real time on its earnings dashboard. The project is built around the AGV crypto token,
which, according to AGV’s pseudo-anonymous CEO AzazeL, can provide yields as high as 200% APY.
With the rise of play-to-earn platforms and DAOs, it’s going to be interesting
to see how these top game guilds play out over the next few years.
If blockchain gaming follows the trajectory of traditional video games, which are estimated to
be played by over 3.07 billion people in the year 2023, then things could really get interesting.
Getting involved in gaming guilds may be one of the safest ways to bet on the future
of play-to-earn gaming on the blockchain!
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