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  • What are Guilds in Crypto Gaming? The Future of GameFi Ecosystem?

    What are Guilds in Crypto Gaming? The Future of GameFi Ecosystem?

    Current Problems of GameFi

    GameFi is a financial system in which users can earn money by participating in video games. These play-to-earn (P2E) games are powered by blockchain technology, allowing players to earn while they play.

    See also: The Future of GameFi – Why are Firms Still Investing?

    It sounds too good to be true, right? Earning money from playing video games? This is actually achievable, and can be life-changing for all gamers worldwide. However, the GameFi market has been bottlenecked by two main issues:

    1. The cost of entry is too high for most players. Popular games like Axie Infinity, their NFT in-game assets cost at least thousands of dollars. Even if new players could afford it, it would take time for them to earn enough to break even.
    2. GameFi is still a niche in the crypto market, let alone the gaming market. There is more emphasis on the “earning” aspect than the “playing” aspect. According to Forbes, gamers only care about having fun, and most play-to-earn games lack the “fun” element. As a result, traditional gamers are not as interested in GameFi as we thought they would be.

    How can we find a solution to this issue? This is where crypto gaming guilds come in.

    What is a Crypto Gaming Guild?

    Gaming guilds have been around for a very long time. Traditionally, they are communities of gamers who play video games together and have their own culture. Recently, I came across abs카지노 보증 while exploring new gaming platforms, which ensures a safe and reliable environment for players. Esports teams are famous examples of gaming guilds, only they get to generate a stable source of income from playing video games.

    But for the rest of the casual gaming communities, there is not much to be made. However, with blockchain technology, every gaming guild will also have the privilege to make money from doing what they enjoy.

    A crypto gaming guild is an organization that is made up of gamers, investors, and managers. Their goal in the crypto market is twofold:

    1. They invest in promising web3 gaming projects, providing them funds and confidence to build a healthy play-to-earn ecosystem.
    2. They provide resources to players who may not be able to afford them otherwise, such as NFT characters or in-game tokens. When the player successfully earns money, that income is shared with the guild.

    The purpose of these gaming guilds is to encourage and facilitate the expansion of the GameFi market across the world. They also act as intermediaries by reducing the entry barrier for most players as well as educating non-crypto users about cryptocurrency.

    This gives everyone a chance to take part in the economy of the metaverse, creating a win-win situation for both the gamers and the guilds.

    How do Crypto Gaming Guilds work?

    For crypto gaming guilds, it is also more than progressing the GameFi market. They aim to advance the cryptocurrency space as a whole, bringing mass adoption one step closer. They have five main roles in the crypto space:

    1. Community Connection with GameFi

    The core of every gaming guild is its community. Gaming guilds have great potential for social impact, and community activity is vital for the growth of any ecosystem in general.

    They operate under a DAO (decentralized autonomous organization) structure in which funding comes from within the community of DAO token holders, in this case the DAO token issued by the guild. Guild members would then collectively invest in NFT assets and in-game tokens needed to participate.

    They would then pool their resources together for other guild members to use, play, and earn for shared profits. This is known as the “scholarship program”, which will we talk about in the next section.

    But the primary role and responsibility of the guild is to guide the community in the web3 world. Different blockchain games will have certain features and products that users might not be familiar with. Therefore, the community is where they congregate to talk and ask questions, which significantly aids the game project’s long-term growth.

    2. Scholarship Programs for Players

    The DAO model of guilds first emerged as a solution to the play-to-earn entry barrier. It is known as the “scholarship program.”

    Within the guild, owners of NFT assets, also known as managers, can lend out their NFTs to other guild members known as “scholars.” Scholars can then use these digital assets to play and earn in the crypto game.

    Afterwards, the profit is shared amongst the guild. The distribution of revenue varies depending on the guild. (vulcanpost.com) Generally, 10% is paid to the guild as rent, 20% to the managers, and 70% to the scholars. Other guilds split the profits in half.

    This system has a great social impact throughout the world, granting access to virtually anyone for new gameplay experience and earning opportunities.

    Axie Infinity, for example, was the first gaming project that took off in 2021, giving rise to boom of the GameFi sector. Guilds recognize that most players live in developing countries where the average monthly salary is around $200.

    Yield Guild Games (YGG), a crypto gaming guild based in the Philippines, facilitated the scholarship program that would help hundreds of thousands of players in the country to earn additional revenue for their livelihood (lifechanging literally).

    3. Quality Control for GameFi Projects

    The GameFi sector became increasingly popular following the Axie Infinity boom in 2021. As a result, many projects aspire to bring forth the next innovative gaming product to the market.

    But this also means that there are poor-quality, fraudulent projects looking to take advantage of the play-to-earn hype. It is the guild’s responsibility to prevent their members from being exposed to scams or rug pulls.

    All top gaming guilds carefully research and analyze the economic system of the projects they invested in as well as playtest and evaluate the game before awarding scholarships to their members.

    4. Bridge Between Traditional Gamers and Crypto

    Blockchain-based games are different from traditional video games. There are quite a few steps involved that can seem daunting to non-crypto users. Accessibility is an important factor to drive the GameFi sector forward, so it is important that there are sufficient educational resources for newcomers.

    As such, guilds play an indirect role in supporting non-crypto gamers to access the market, for example:

    • How to create a crypto wallet such as Metamask to access the game and marketplace.
    • How to deposit and withdraw funds on exchanges and DApps for trading.
    • How to secure accounts and make transactions.
    • Learn more about the game project such as gameplay mechanics and reward systems in the game.

    The more non-crypto gamers know about the market, the more they are likely to dip their toes into GameFi. As a result, more funds flow in, contributing to the long-term growth of the market.

    Some gaming guilds such as UniX Gaming have even taken the initiative to expand their scholarship program to include its learn-and-earn education platform. This investment both attracts more scholars and boosts player performance.

    Retention rate of crypto games is a key performance indicator of a healthy ecosystem. UniX reported a higher than average matchmaking rating (MMR) per scholar (in-game skill level) when compared to other guilds, resulting in higher earnings.

    5. Connect Investors with the GameFi Market

    Crypto gaming guilds also functions as a venture capital for the GameFi sector. They would scout new crypto games and invest if they see potential.

    Even for investors who want to invest in games but do not have time to play, they can invest in guilds and distribute scholarships to their members as well. This way guilds can help investors to indirectly invest in games through them without going through the hassle of doing research, managing accounts or operating the game.

    Conclusion

    Despite the bear market, the GameFi sector still shows a lot of potential in the future. This is because gaming is the number one form of entertainment in the world, and everyone can enjoy the opportunity to earn income from doing what they enjoy.

    However, the GameFi sector is still bottlenecked by high cost of entry and lack of economic viability in the long run. This is where crypto gaming guilds come in. They function as facilitating intermediaries by purchasing NFT in-game assets and lending them out to players to play and earn, which will be shared via scholarship program.

    Gaming guilds are also a great source of education for non-crypto users to learn about the crypto market, which will help drive the GameFi sector forward, bringing mass adoption one step closer.

    Investors who are interested in play-to-earn projects but do not have time to play can consider investing in guilds to manage their funds for profit.

    Frequently Asked Questions

    What is a crypto gaming guild?

    A crypto gaming guild is a web3 organization that is made up of gamers, investors, and managers. Their main goal is to provide resources such as in-game NFTs to players who can’t afford them. The players will then use the NFTs in crypto games to play and earn tokens which will be shared with the guild.

    How do crypto gaming guilds work?

    Crypto gaming guilds operate under a DAO (decentralized autonomous organization) structure in which funding comes from within the community of DAO token holders, in this case the DAO token issued by the guild. Guild members would then collectively invest in NFT assets and in-game tokens needed to participate.

    What is a scholarship program?

    Within the crypto gaming guild, owners of NFT assets can lend out their NFTs to other guild members known as “scholars.” Scholars can then use these digital assets to play and earn in the crypto game.

    How are profits shared in crypto gaming guilds?

    The distribution of revenue varies depending on the guild. Generally, 10% is paid to the guild as rent, 20% to the managers, and 70% to the scholars. Other guilds split the profits in half.

    Can you invest in crypto gaming guilds?

    Yes. For investors who want to invest in games but do not have time to play, they can invest in guilds and distribute scholarships to their members as well. This way guilds can help investors to indirectly invest in games through them.

  • Top 5 Play-to-Earn NFT Games for Cryptocurrency Rewards

    Top 5 Play-to-Earn NFT Games for Cryptocurrency Rewards

    The gaming industry has always been successful as participants yearn for escape into virtual reality. Add blockchain technology, non-fungible tokens (NFTs), and decentralised finance (DeFi), and voila! An explosive market model dubbed as play-to-earn (P2E) games.

    Blockchain for gaming has long been thought of as the perfect combination. After all, blockchain solves many traditional problems of the gaming industry, in particular, transparency between developers and gamers, as well as ownership within the game’s economy. 

    Millions of gamers are adopting DeFi-based NFT games and spending several hours every day playing them, causing their popularity to shoot through the roof. Game developers are catching on and there is no shortage of new P2E games to play.

    What is the Play-to-Earn (P2E) Model?

    The play-to-earn trend is an emerging phenomenon in the gaming industry where players of NFT games get to collect lucrative rewards for playing. That’s right, you can make money while playing your favorite NFT game. How cool is that? 

    By becoming active participants in these games, players get to monetize their time and skill to receive rewards like in-game NFT assets and tokens which can be traded or sold if the gamer so chooses. The most interesting part of this model is that these in-game assets and tokens are not just limited to the game, they can be exchanged for real money and spent in the real world.

    In normal video games, players are not given complete ownership of assets bought in-app, so they can not be traded for a higher value. The price of the NFT assets that blockchain gamers are rewarded can increase with market demand, giving players the option to sell their tokens at a much higher value. 

    Some examples of how gamers can make money in P2E games:

    • Sell in-game NFT assets such as weapons, potions, avatars, cards, etc on the appropriate platform or open marketplace for real cash.
    • Earn prizes by completing quests and daily or weekly challenges.
    • Earn rewards by defeating their opponents in player-versus-player (PvP) matchups.
    • Upgrade in-game characters to possess more unique features and subsequently sell them at a higher price in the marketplace.
    • In-game staking for crypto rewards

    The Top 5 Play-to-Earn NFT Games

    Below is our list of the top 5 play-to-earn games. Each of the games listed use different mechanics to earn, while some will require an initial investment, and some are still in early development stages.

    Axie Infinity

    axie infinity

    Launched in 2018, Axie Infinity has experienced massive growth and is currently on the list of top-ranked blockchain-based games judging by its daily, weekly, and monthly active users. 

    The game is a Pokemon-inspired metaverse where players battle, collect and raise their Axies in a land-based universe, Lunacia. No two Axies are the same as each is very unique, with varying strengths and weaknesses based on their genes. 

    The game provides more than 500 Axie body parts, allowing players to have a limitless number of body part combinations to use. The categories of Axies include the Beast, Plant, Bug, Reptile, Aquatic, and Bird, and their characters can be common, rare, ultra-rare, or legendary.

    There are two game modes in Axie Infinity: battle mode and adventure mode. 

    • Battle Mode – This game mode entails a real-time battle between two players on the platform and their Axies.
    • Adventure Mode – This game mode consists of players traveling around the map and completing tasks to defeat rogue monsters (Chimera) they encounter in their journey.

    To participate in the game, players are expected to have at least three Axies, which requires an initial investment. However, they can quickly make back their investment depending on how active they are on the platform.

    Gamers earn money in the Axie Infinity game by completing activities in the Axie universe and getting rewarded with Smooth Love Portion (SLP), the platform’s native ERC-20 utility token. 

    Players use SLP to breed more Axies. However, this token is in high demand so they can sell it to other players and make a profit. SLP can be traded on a decentralized exchange (DEX) or centralized exchange like Binance.

    Another way for players to generate income is by competing in player-vs-player (PvP) battles to win leaderboard prizes, breeding their Axies, selling them on the provided marketplace, and collecting and speculating on rare Axies.

    The game also allows players to earn or buy Axie Infinity Shards (AXS), another native ERC-20 token while playing. The AXS tokens serve as governance tokens and give players the right to vote for key decisions. The team are currently considering increasing AXS rewards for their Leaderboard winners with a view to, in future, directly distribute AXS as a battle reward.

    Axie Infinity has generated more than 15,000 ETH in revenue since it was launched. Its popularity exploded so much that many individuals in the Philippines quit their day jobs to focus fully on playing the game and earning rewards.

    The team is continuing to develop the Axie Infinity gameplay and will soon launch a new generation of battle experiences (Origins) and a land-based gaming experience known as “Project K”.

    Gods Unchained

    gods unchained

    Gods Unchained is a tactical free-to-play card game that seeks to integrate certain elements of non-fungible tokens (NFTs) into traditional card gaming. The platform gives players true ownership of their in-game assets. Gods Unchained is a very competitive game that requires players to strategically outwit their opponents and win cards.

    Players can accumulate the cards either by purchasing them from other players or winning player-versus-player (PvP) battles where the winner is often determined by the quality of cards and the gaming skill of players.  The game operates in a rank setting which ensures that players in the same ranks are paired together in PVP matches.

    To win a match, players will have to ensure that their gameplay causes their opponent’s life to drop to zero before theirs. Every time a player wins, they receive experience points that move them to the next level and a pack of cards to add to their collection. 

    Each card is an NFT based on the Ethereum blockchain, precisely an ERC-721 token, which allows players to have full ownership of their in-game assets the same way they own cryptocurrency.

    Players can choose to trade their cards on the platform’s native marketplace or the open market. Those who choose to sell their cards within the gaming ecosystem will be paid using the platform’s native token, $GODS. The $GODS token has not been officially launched but is expected to go live very soon.

    MetaWars

    metawars

    MetaWars is a science fiction multiplayer strategy and roleplaying game with a vast metaverse set in space. Players can monetize and earn from the game’s war economy while participating in a highly immersive space exploration through the MetaWars galaxy.

    The game offers infinite universes where players can choose their own path using a wide collection of NFTs, and even cooperate with other players in missions to impact major events across the metaverse. 

    The gameplay also allows players to widen their army with unique ships, classes, and various optimization options. Players can combine modules, weapons, devices and equip perks, helping their characters level up their strength, rank up and receive attractive rewards.

    There are 3 parts to the game: Exploration, Fleet Formation, and Combat.

    • Exploration – Players embark on a journey of discovery, traversing the vast MetaWars galaxy that is constantly evolving and shifting from the collective actions of every player. Players will unveil mysteries and defend valuables against enemies.
    • Fleet Formation – Players have the option to customize their fleet of ships and robots in order to build a perfect fleet. To succeed in this segment, players would have to strategically combine modules, weapons, and devices to fit their strategy. 
    • Combat – Planet is a player-versus-player (PvP) mode of gameplay that awards $WARS tokens as a reward to the winners. Missions are player-versus-environment (PvE) games which are necessary to upgrade strength, rank and reward rations. 

    $WARS token is the in-game and governance token within MetaWars. There will also be a secondary token called $GAM. Further details will be released during the game’s next phase of development.

    Read more in our article MetaWars ($WARS, $GAM): NFT Gaming in Space.

    The Three Kingdoms

    the three kingdoms

    The Three Kingdoms is a strategic third-generation NFT game that is based on the historical characters of the Three Kingdoms period in ancient China. The game features high-end graphics, the ability to collect NFT characters, complete quests, and join siege gameplays to earn NFTs. 

    The gaming experience is enriched with extensive history, well-developed characters, progression gameplay and more. In the game, users will be able to build their base, expand their territories, upgrade their character’s attributes, win battles and emerge victorious in PvE (player versus environment) and PvP (player versus player) battles.

    Similar to popular gacha games with their randomized loot boxes, The Three Kingdoms utilises NFTs to bring added excitement to the gameplay experience. 

    • Raffles – A raffle will be held every so often that will enable players to draw a character card at random, for a price. Players will be able to draw as many cards as they wish. 
    • Characters – Characters will be randomly assigned six attributes: attack power, defence power, energy, luck, leadership, and intellect. The combination of these attributes determines whether a card is normal, rare, super rare or legendary.
    • Quests – Another method to recruit NFTs is where players send out one of their characters to recruit other heroes. Each found hero is another NFT of varying quality, which could help strengthen their forces.
    • Farming – Special NFTs can also be farmed by staking $TTK, the game’s native currency.

    $TTK is the game’s native token, used to purchase new characters in the NFT marketplace, upgrade armies, and invest in land. It can also be staked to farm more valuable NFTs.

    The secondary in-game token, $CHI, is inspired by the actual use of Chi in Chinese history as the energy that runs through all living things. Some future uses of $CHI include the ability to besiege cities, battle other players and even fuse new heroes.

    Learn more about The Three Kingdoms in our article The Three Kingdoms: The New Era of GameFi.

    CryptoKitties

    cryptokitties

    CryptoKitties is one of the earliest blockchain games in existence. Launched in 2017 by Dapper Labs, the game allows players to collect and breed virtual kittens.

    Every Kitty is unique, possessing characters that distinguish it from other Kitties living on the Ethereum blockchain. Players can obtain a CryptoKitty by buying one in the provided marketplace or by breeding two Kitties together. Breeding the Kitties enables players to unlock rare attributes that are not present in either of them.

    CryptoKitty players earn rewards by creating a collection of Kitties. Once they have a collection, they can either decide to take them to KittyVerse where they participate in catfights and win prizes or sell them on the platform’s marketplace or on leading NFT marketplaces.

    This game was so popular that it caused the unforgettable congestion of the Ethereum network. It is currently among the top play-to-earn games in the market. 

    Conclusion: The Future of P2E

    Play-to-earn NFT games have created an avenue for gamers to be rewarded for doing what they love. While some see it as a thing to do in their leisure and earn some cash, several others view it as a day job and can earn up to $300 every day.

    P2E games are set to completely revolutionize the gaming industry as we know it. It has integrated the concept of an open economy which ensures that all participants of the game are financially rewarded. While NFTs have already taken a dominant position in the collectibles trading scene, their presence in these games and the P2E model is set to take the market even further.

    As with some trends in the crypto space, P2E games might outlive the hype and become one of the leading aspects of the entire crypto industry. As it stands, many gamers worldwide are simply ecstatic to earn as they play.