Key Takeaways
- Yield Guild Games is the biggest play-to-earn gaming guild in crypto, with over 87,000 guild members.
- It’s structured as a DAO that invests in revenue-generating in-game NFT assets.
- It purchases in-game NFT assets and rents them out to players for a percentage share of the revenue earned from playing crypto games.
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Yield Guild Games is a play-to-earn blockchain gaming guild structured as a decentralized autonomous organization. It focuses on investing in revenue-generating NFT assets used in virtual worlds and blockchain games.
What Is Yield Guild Games?
A GameFi and DAO revolution is unfolding, and Yield Guild Games (YGG) is at the forefront of the movement.
The raw economic potential unlocked by merging gaming with cryptocurrencies can not be overstated. Video gaming is a $160 billion industry with an estimated 3.24 billion gamers around the world. Many passionate gamers dream of getting paid to play games. However, until now, that dream has only been achievable for an extremely small subset of players—the cream of the crop professionals that win tournaments. Most games are too small to even attract professional players.
NFTs and play-to-earn games like Axie Infinity have exploded in popularity in 2021. Collectively dubbed “GameFi,” these Web3-native projects represent the cross-section between gaming and DeFi. For the first time, they have made the dream of making a salary from gaming accessible to anyone with an Internet connection and the inclination to get started, including casual gamers that wouldn’t otherwise stand a chance at earning any money. Axie’s rise in 2021 has revealed a huge demand for crypto-based, player-owned games where the actual financial beneficiaries are not the game developers or publishers, but the players themselves.
Being able to own and freely trade in-game NFT assets for crypto and fiat currencies means that players can now capitalize on their time and skills by playing games. As a result, the crypto space has seen gamers and crypto natives begin to organize in communities to leverage the power of groups and supercharge their earnings. Presently, the largest of these communities is Yield Guild Games (YGG), a gaming guild structured as a DAO focused on investing in yield-generating NFT assets used in virtual worlds and play-to-earn games.
Alexei Udall, head of partnerships at YGG, says that the idea for the project evolved out of the Axie Infinity scene, which grew exponentially in the Philipines during the COVID-19 crisis. “Initially, we were building out these Axie scholarships, which are yield-generating game assets that could be distributed among communities for the shared benefits of the community and the underlying guild,” Udall tells Crypto Briefing.
Seeing the potential of the play-to-earn trend early on, and how it could change people’s lives, Gabby Dizon, Beryl Li, and a team member who goes by the name Owl of Moistness, co-founded YGG…
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