One of the most significant developments in blockchain technology is play-to-earn gaming. Games draw players and investors as they roll out their non-fungible tokens (NFTs). Gaming guilds are helping to spread this tendency even further. Gamers, investors, and the community benefit from these guilds. It's a good idea to join a guild for several reasons.
Yield Guild Games (YGG) is only one of several guilds in the gaming industry. Beryl Li and Gabby Dizon started this guild in 2020 and saw it grow into a huge success. According to the latest estimates, more than 20,000 scholars will have joined the crypto project by March 2022.
Introduction
This field of play-to-earn (P2E) blockchain games has grown significantly since the popularity of Axie Infinity. Many gamers, particularly those in underdeveloped nations, cannot purchase gaming NFTs despite the global P2E trend's appeal. To help new NFT gamers get started, Yield Guild Games establishes a P2E community and provides a solution.
In blockchain games, non-fungible tokens (NFTs) are utilized by Yield Guild Games (YGG), a Decentralized Autonomous Organization (DAO). The metaverse is a concept that encompasses all of these games. Many of the components of blockchain-based digital worlds are called the metaverse, including digital land, virtual currency (VC), and more.
Global play-to-earn gaming communities were first mooted in 2018 as an idea. YGG CEO and co-founder Gabby Dizon saw a rise in interest in blockchain gaming in Southeast Asia. The famous NFT game Axie Infinity gained traction then, but many gamers lacked the money to acquire the in-game NFT characters known as Axies.
Dizon began lending his Axies to other players who couldn't afford to buy their own after realizing that blockchain gaming may be an empowering tool for folks living in underdeveloped nations. As a result, he and Beryl Li plan to launch Yield Guild Games in 2020 to assist gamers in transitioning to the realm of NFTs and blockchain gaming.
What Do Yield Guild Games Do?
A guild comprises several players who work together to accomplish common goals. Gaming is a beloved pastime or investment for these gamers, who frequently collaborate. The guild is open to anyone from around the world who wants to participate in play-to-win games. NFTs, such as virtual land and other beneficial in-game features, are also a part of YGG's investment strategy. After that, NFTs can be borrowed by players from the Guild. This benefits everyone involved.
A guild's concentration is usually not on a single game but on several plays and NFTs. Various participants and investors develop a distinct community as a result of this. The combination of DeFi (decentralized finance) with NFTs on Ethereum's blockchain creates a metaverse-like economy. As a decentralized autonomous organization, the project is administered by smart contracts rather than a centralized authority (DAO).
YGG is made up of many SubDAOs, rather than a single DAO. Many of these groups are centered on a single game or are geared toward gamers in a particular region. Each SubDAO has its own set of regulations, which govern the actions and assets of the SubDAO. When members in the SubDAO work together, they may maximize their gaming prizes, which positively affects their guild.
Play-to-earn gaming with Yield Guild Games:
Yield Guild Games allows you to borrow NFTs, which you may then use to start earning prizes in the play-to-win game. NFTs and other cryptocurrencies can be sold on the market to cash in your rewards.
The second option is to spend your incentives to buy your own NFTs, eliminating the need to borrow them. Both sides benefit from this arrangement. In exchange for lending the NFT, the lender earns a percentage, and the borrower is free to use the NFT in any way they see fit.
The YGG Scholarships
The YGG DAO employs an NFT rental scheme known as scholarships to increase the value and usability of gaming NFTs. To start, the Axie Infinity community had the concept to help NFT owners and gamers interested in earning money by playing video games.
For a percentage of their in-game prizes, Axie owners may lend their gaming assets to new players as part of Axie Infinity. Scholars can only utilize the NFTs in-game because the procedure is handled by smart contracts running on the blockchain. Trades and transfers of NFTs can only be made by the management (owner).
YGG, on the other hand, supplies new players with NFT assets so they may begin playing and receive in-game prizes under a revenue-sharing model. A part of the students' revenue is shared with their managers, but they don't need to invest any money in advance. In addition to NFTs, community managers will instruct and guide new gamers.
Is Yield Guild Game Worth Investment:
Over 7 million individuals in that country lost their employment after COVID-19 spread over the country in 2020. Things like food and shelter became tough for many individuals due to this. NFTs may be used to aid those in need; thus, Gabby Dizon came up with the concept of lending his NFTs to those in need of assistance.
The digital creatures you face in the game Axie Infinity are also known as NFTs. You may make a good living in the Philippines by playing this game. Several players found that they could make more money playing online poker than they had in their previous occupations. Because of this, the guild's founders understood the potential of this arrangement, and aiding others became the guild's driving motivation.
NFTs and play-to-earn games developed on multiple blockchains were significant phenomena in 2021. Many individuals believe that entering the crypto industry through the medium of gaming will help bring crypto into the mainstream. Since gaming is a popular pastime for hundreds of millions worldwide, why not make money by playing games?
Considering that YGG incorporates NFTs and blockchain gaming while also using its token, the development of blockchain games may pay off as an investment in the future.
A community is critical to the success of a cryptocurrency enterprise. Hence most guilds are centered on players. YGG, on the other hand, is concerned with profitability and the project's appeal to investors. Investors frequently hope to make a handsome profit on their investment by putting their money into a promising venture. Other initiatives often need a lot of time spent playing games. Therefore, they don't want to do that here. As a result, this endeavor is not for gamers but for investors.
Hot