One issue that comes with either playing a game or getting involved in blockchain projects with crypto is that it leaves a huge population out there that doesn’t have the best access to this technology. Therefore they cannot benefit from the growing globalized communities that will only continue to get stronger as the GameFi industry matures.
This is why Yield Guild Games, or YGG, was formed. It was a way to develop a complete ecosystem and community to get as many people involved in blockchain and gaming as possible.
How it all started
Back in 2018, the idea for YGG was formed when it was easy to see how Axie Infinity Axies could easily be lent to others who couldn’t afford them on their own. This led to the idea two years later to make it a permanent stable to the GameFi community.
The aim was not only to find a safe and secure way to lend the initial Axies but also to lend out the various other types of NFTs that would eventually spawn from the popularity coming from crypto gaming. Their mission was to onboard millions of players to dozens of games without the concern of needing that upfront capital.
How it works
When joining YGG, you join an active community of play to earn gamers who work together as a guild or team. Here you don’t just focus on earning crypto by playing the games but making investments into new games at their early stages to reap the rewards down the line. It all began with the scholarship programs with Axie HYPERLINK “https://axieinfinity.com/” Infinity, The Sandbox, and League of Kingdoms. Since then, they have expanded their network and their offering to include 30+ games, with no signs of slowing down.
How they work on growth
YGG is open to anyone who wants to take their gaming to the next level. That means they’re going to do a mix of player acquisition for daily gaming, as well as grow their expanding network through community managers on social media platforms and brand ambassadors or influencers to be able to bring influencer marketing into the fold. As the community grows, they’ll each get their own virtual votes to take YGG into whatever is the next direction for GameFi and use their tokens as a means of governance.
How they make money
With such a large population of gamers working together under one banner, YGG is able to generate funds from various channels. These can be done by playing the games themselves, generating an APY by staking the tokens earned on other platforms, the prize money received from participating in and winning eSports tournaments, or massive in-game raids.
They also focus on generating revenues from sponsorships and subscriptions on various platforms while also working towards generating sales through physical and digital merchandising. This gives such a diverse portfolio that it goes beyond simply just looking to play a game to earn a token and builds out alternative routes to revenues.
Related Posts:
