Thread by @The_ReadingApe

Today we share the pod summary of @crypto_vantage as host @JennSanasie interviews @leah_cb and @berylchavezli about the play to earn phenomenon. Find out from them how crypto gaming is changing the world, and how it lifts an entire community out of poverty.

Read on 👇

@crypto_vantage @JennSanasie @leah_cb @berylchavezli Beryl Li

🔸 Co-founder of @YieldGuild (YGG)
🔸 YGG invests in NFT assets that are used in-game to lease out to players
🔸 YGG is a gaming guild structured as a DAO

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild Leah Callon-Butler

🔸 Screenwriter/presenter behind @playtoearn_ documentary
🔸 Heard of how crypto can help people improve their lives
🔸 Documentary demonstrates how blockchain can change lives for the better

Everyone should watch this 📽️:

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ Barriers to entry

Leah
🔸 @AxieInfinity is a strategic game, like chess ♟️ - can't button mash
🔸 To cash out the in-game rewards, Smooth Love Potion (SLP) 🧴 is hard
🔸 Have to go through many hoops and hurdles

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ @AxieInfinity Huge adoption by Phillippines 🇵🇭 community

Beryl
🔸 Never told people that crypto is the infrastructure behind the remittance of funds
🔸 People gets turned off - gaming is easier to understand than farming
🔸 WIth gaming, it's just farming 🧑‍🌾 using time instead of assets

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ @AxieInfinity Leah
🔸 All boils down to good incentives to go through those hoops
🔸 In Australia, people have access to a good banking system with financial products
🔸 In 🇵🇭, only 22% of adults are banked
🔸 Hence people are incentivized to experiment with alternative financial products

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ @AxieInfinity FTX Sponsorships

Beryl
🔸 @FTX_Official sponsored scholars through YGG
🔸 To play Axie Infinity, you need 3 axies to form a team - cost 1.5k USD
🔸 For those who can't afford the upfront costs, YGG will lease out to them for a cut, like a non-collateralised loan

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ @AxieInfinity @FTX_Official Leah
🔸 FTX had been spending a lot on sponsorship deals lately
🔸 But their scholarship deal with YGG represents another end of the spectrum
🔸 The scholars are not top elite athletes or influencers
🔸 This deal flipped the e-gaming sponsorship model on its head 🙃

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ @AxieInfinity @FTX_Official "The sponsorship and what Axie Infinity is able to do for these communities brings us back to the original crypto ethos - to bring financial freedom to the people who need it the most. And that just warms my heart ❤️."

Jennifer Sanasie

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ @AxieInfinity @FTX_Official Breaking the poverty cycle

Beryl
🔸 Noticed that players changed their mindset after playing Axie Infinity - becomes entrepreneurs and investors
🔸 Many of them have no savings
🔸 Earning an amount higher than the minimum wage of $200 USD allows them to get out of the debt cycle

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ @AxieInfinity @FTX_Official Yield Guild Games

🔸 Had become a DAO after a token sale that sold out in 30s
🔸 45% of the token allocation is actually for the community
🔸 Will have a level up system where the more player play the game, the more YGG tokens they can earn
🔸 Token is used for governance

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ @AxieInfinity @FTX_Official Metaverse

Leah
🔸 Should be pushing for an open Metaverse that is interoperable and permissionless
🔸 Not multiple Metaverses across multiple centralized platforms
🔸 People will soon realise that is quite a lot of value to claim in the virtual world
🔸 Will progress over time

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ @AxieInfinity @FTX_Official "Going back to the start of this year when we made the Play to Earn documentary, we made a decision not to include the word NFT because no one knew what it was. Fast forward to Feb and Mar, it was like the only word that people knew in their vocabulary."

Leah Callon-Butler

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ @AxieInfinity @FTX_Official Future in relation to crypto

Beryl
🔸 Pandemic accelerated the push to get everything online
🔸 Will have more play to earn games coming out
🔸 Education could be gamified too
🔸 Shopping 🛍️ might be in the form of NFT that can be converted to physical merchandise

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ @AxieInfinity @FTX_Official Links

🔸 Video:
🔸 Substack article: thereadingape.substack.com/p/cryptovantag…

Thanks to Jennifer for the wonderful interview - it's always good to know how crypto can actually change lives on the ground instead of just being an abstract concept.

@crypto_vantage @JennSanasie @leah_cb @berylchavezli @YieldGuild @playtoearn_ @AxieInfinity @FTX_Official Like our work?

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~ End Thread