Yield Guild Games (YGG) Guide for Beginners

The popularity of play-to-earn games is increasing in the realm of blockchain technology , marking a significant trend in the gaming industry. With games launching their own tokens and non-fungible tokens (NFTs), they have caught the attention of both gamers and investors. This trend has developed further with the emergence of gaming guilds, which offer many benefits to gamers, investors and the wider community. Joining a guild provides several benefits that are worth exploring.

Among the various guilds in the gaming niche, Yield Guild Games (YGG) is a prominent example. Founded in 2020 by Beryl Li and Gabby Dizon, YGG has quickly grown into a prominent success story, with a community of over 20,000 scholars as of March 2022.

YGG facilitates participation in the growing play-to-earn trend, presenting an exciting prospect for crypto enthusiasts. This article explores how YGG works and explains how individuals can use the opportunity to their advantage.

Role of Yield Guild Games

At their core, guilds consist of a community of players united by a shared passion for gaming and investing. Operating globally, these players collaborate to earn rewards in play-to-earn games under the guild banner. Additionally, YGG strategically invests in NFTs, including virtual land and other valuable in-game assets, which can be lent to guild members, thereby encouraging mutual benefits.

Typically, a guild is not limited to just one game, but covers a wide range of gaming experiences and NFTs . This diversity attracts players and investors from various backgrounds, fostering a dynamic and inclusive community. By combining decentralized finance ( DeFi ) with NFTs, YGG fosters a metaverse-like economy on the Ethereum blockchain, supported by decentralized governance facilitated by smart contracts—a hallmark of decentralized autonomous organizations (DAOs).

YGG consists of several SubDAOs, each tailored to a specific game or regional player base, with different rules governing their activities and assets. Through focused collaboration within this SubDAO, players optimize their game rewards, enriching themselves and the guild.

Starting Yield Guild Game

Intrigued by the prospect of joining a guild like YGG? Prospective members must go through several steps first. To join, a crypto wallet compatible with the Ethereum network is essential, with options such as the MetaMask wallet being a popular choice.

Once connected to the YGG platform, members can create Guild Badges—NFTs that certify their guild membership. It is important to ensure sufficient Ethereum (ETH) balance in the wallet to cover the gas fees associated with generating Guild Badges. Timing the printing process during periods of low network activity can minimize costs.

Upon joining, members are encouraged to identify their role within the guild, with an emphasis on contributions rather than the amount of crypto held. Activities such as managing a Discord channel or implementing marketing initiatives on social media are valuable contributions that are rewarded with tokens or NFTs.

Engage in Play-to-Earn Games with YGG

YGG facilitates NFT lending, allowing members to earn rewards through play-to-earn games. These rewards, whether in the form of NFTs or cryptocurrency, can be traded on the market or reinvested to purchase NFTs directly. This symbiotic arrangement benefits both the lender and the borrower, with the lender receiving a portion of the borrower's profits.

Notably, YGG's impact is not just limited to gaming, especially in regions like the Philippines. Here, a group of gamers turned to games like Axie Infinity, achieving incredible success and even maintaining their livelihood through gaming rewards. YGG's commitment to helping individuals through play-to-earn gaming is evident in its support of scholars, who receive mentorship from community managers, with a portion of their earnings allocated to those managers.

Investment Opportunities with Yield Guild Games

The origins of YGG can be traced back to a watershed moment in 2020 when millions of people in the Philippines faced unemployment due to COVID-19. This crisis inspired Gabby Dizon, an entrepreneur who loves gaming, to lend her NFTs—known as Axies—to those in need.

Axies are digital creatures that are an integral part of Axie Infinity, a game where dedicated players can earn huge income, offering relief to many people in the Philippines. As time passes, many players surpass their previous earnings, highlighting the transformative potential of YGG's initiatives and its commitment to empowering individuals through gaming.

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.