Metaverse ABCs: Yield Guild Games (YGG) Is All Set to Become the Ultimate Play-to-earn Gaming Guild
Digital economies and the metaverse ecosystem could replace real-world economies and there’s no denying that. With the advent of metaverse platforms and blockchain-based games, platforms are emerging to develop and expand the metaverse to catalyze the replacement of real-world economies sooner than ever. One source of catalyzation of the metaverse ecosystem’s success is Yield Guild Games.
Yield Guild Games are combining NFTs, GameFi, DeFi, and blockchain-based play-to-earn games to introduce a revolutionary and exciting model of employment in the metaverse, one that is completely funded, guided, and run by the metaverse ecosystem itself. Find out more about Yield Guild Games; the platform that’s changing the metaverse as we speak.
What Is Yield Guild Games?
Yield Guild Games is a decentralized autonomous organization (DAO) that is developing the metaverse by promoting blockchain-based games and metaverse ecosystems by providing a platform for users to invest in NFTs and virtual worlds.
Co-founded by Gabby Dizon, Beryl Li, and Owl of Moistness, Yield Guild Games is revolutionizing the metaverse space by introducing as many people as possible to the universe of metaverse. As an example, with Yield Guild Games, you can use NFTs from popular metaverse platforms like Axie Infinity and Decentraland to build your own virtual and interactive universe.
Starting out as a guild of Axie Infinity players and helping them reach their maximum potential, Yield Guild Games is changing the metaverse by introducing the concept of creating virtual economies that indirectly empower people to join the metaverse ecosystem without any hassles.
Yield Guild Games believes that virtual economies powering metaverses will emerge into relevancy sooner than later and they will prove to be even more useful than real world economies
Yield Guild Games combines the best of non-fungible tokens (NFTs) and GameFi to bring yield farming to game economies and add value to the metaverse ecosystem by developing their content and economy. Yield Guild Games does so by maximizing the value of NFTs used in various platforms and blockchain-based games by:
- Building global communities of competitive play-to-earn gamers so they can compete to collect in-game rewards.
- Producing revenue through renting or selling Yield Guild Games-owned NFTs for a markup (e.g. selling LAND in Decentraland or renting Axies to players as a part of profit-sharing model, known as a scholarship)
- Allowing its community to partake in the DAO by sharing protocols, opinions, and votes
- And building games in the DAO to arbitrage on yield generation by being competitive in the metaverse.
How Does Yield Guild Games Work?
Yield Guild Games is essentially a guild of like-minded people that helps people in generating maximum yield from in-game activities. It combines the best of GameFi, DeFi, Blockchain technology, and NFTs to provide users with the opportunity to maximise their potential and expand their ground.
Yield Guild Games does so by employing a very unique business model that generates real world value by creating new virtual worlds in the metaverse and supporting a digital economy. At the core of Yield Guild Games’ products is the ownership of YGG-owned NFT assets. Yield Guild Games allows users to rent out, own, or use YGG-owned NFT assets as a trading currency to receive in-game rewards.
In-game assets such as virtual lands can generate income through non-guild members who rent out their virtual lands for their economic activities thanks to the increasing hype around NFT ownerships, and the insanely high prices of NFTs influenced by the economic value of in-game assets.
This goes in line with Yield Guild Games’ goal to introduce a significant number of players to play-to-earn games so they can help players monetize their time in-game and lease out valuable and rare NFTs via scholarships.
Yield Guild Games Scholarships
Originally introduced by players from the Axie Infinity community, Axie-Owners could loan their assets to new players who didn’t know any Axies of their own. With the metaverse ecosystem and play-to-earn model surging to new heights as more players and people join in, it is slowly becoming difficult to join in. For example, you need three Axies to enter the Axie Infinity metaverse.
With how well the metaverse and the game has been doing, one Axie goes for as much as $200. Three axies means you need an initial investment of $600. The rising population of Axie Infinity has created a barrier of entry for many players, especially new players to join in.
The metaverse is the new internet and it should be inclusive. Anyone should be able to join in, which is why Yield Guild Games introduced scholarships to onboard newcomers to NFT games and lowered the barrier of entry. Based on a profit-sharing model, Yield Guild Scholarships introduces new players to the metaverse and GameFi ecosystem. The Yield Guild invests in NFT assets and rents them to new players so they too can start playing and earn in-game rewards without having to invest a lot of money upfront.
Earnings are often split between the scholar (the recipient of the scholarship), The Yield Guild, and the Community Manager. About 70% of the earnings are paid to the scholar, 10% to the Guild, and 20% to the community manager. At the moment, the Yield Guild is a group of 2500 Axie Infinity Scholars who’ve raked in over 22 million SLPs or $4 million in value.
Yield Guild Games manages a number of NFTs, digital assets, virtual real estate, and other metaverse-related assets that can be used by members to generate yield for themselves and the guild.
With Axie Infinity being their most successful game, other games include League of Kingdoms, F1 Dela Time, The Sandbox, Star Atlas, Iluvium, Zed Run, Guild of Guardians, Ember Sword, and Splinterlands.
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