Why did Yield Guild Games, or #YGG capture everyone's attention? A thread: 1. During the pandemic, a lot of people were put out of work and not able to provide for themselves and for their families. This time kind of coincided with the rise of a game called “Axie Infinity”
one of the first games to pioneer a #playtoearn model, which is becoming a very important theme in #cryptogames 2. In order to play “Axie Infinity,” you need to have three Axies, and generally speaking, that means you need to buy them upfront. Obviously if you’re out of work...
, you have no money, so buying these digital pets can become a very challenging proposition. So YGG founder, #GabbyDizon in the Philippines, who played “Axie Infinity” started lending out his #Axies so other people could play the game and earn tokens that could then be converted
to local currency. 3. And so basically #YGG emerged as sort of the productization of what they were doing here, so YGG either purchases or breeds in-game assets that are yield-earning, then loans them to out “scholars,” who are the recipients of these in-game assets, and YGG then
takes a small cut of the in-game revenue that the players generate over time. 4. There are managers who basically manage teams of scholars; they’re the ones who effectively decide who to bring into the guild. 5. #Axies can be bought or sold on martplaces and exchanges like
#Opensea #Huobi and other players are buying them if they need to breed in “Axie” and needs some #Axies; others are buying them for investment purposes. Also, they aren’t necessarily selling the #NFTs but they may be selling the tokens that they earn as part of the gameplay.
6. Loaning under-utilized income-generating #NFT assets to people who are otherwise unable to access them is core to YGG’s business model. In July 2021, in addition to concluding a successful US$12.49M public sale of YGG tokens via MISO on SushiSwap, the guild saw record growth
in the number of new scholars onboarded and resulting #SLP earned, demonstrating how the YGG #DAO is both #profitable and #socialimpact focused.
Image Credits: Yield Guild Games
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