Avid gamers can now make money doing what they like, playing online video games. Play-to-earn (P2E) games are powered by blockchain technology, enabling players to earn by participating in the game.
However, many of these games require owning certain in-game assets, which sometimes don’t come cheap. There were many players, particularly in developing countries, who may not be able to afford such upfront capital to start playing the games. How can we find a solution to this issue? This is where crypto gaming guilds become relevant.
What is a Crypto Gaming Guild?
A gaming guild is a community consisting of gamers who help one another inside and outside of a particular game. Today, the idea of gamers guilds has been extended to include play-to-earn (P2E) games.
A crypto gaming guild is an organization that consists of investors, gamers, and managers. They act as facilitating intermediaries by purchasing in-game assets in the form of NFTs, then lending them out to thousands of players to play and earn yields.
The purpose of these gamers guilds is to encourage and facilitate the participation of gamers in a variety of P2E games without any initial financial investment. Crypto gaming guilds offer several benefits, one of which is the opportunity for players to participate in P2E games that they cannot afford on their own.
The gamers’ potential financial obstacles due to playing P2E games are drastically reduced. In addition to this, it gives everyone an equal opportunity to take part in the economics of the metaverse. In the end, it creates a win-win situation for both the gamers and the gaming guilds.
How do Crypto Gaming Guilds work?
A game sponsorship is something that potential gamers can get from a crypto gaming guild. The accepted players may then borrow or rent out NFTs from existing guild members who already own them. Gamers who will be given NFTs will use these digital assets to play and earn in the crypto game.
After that, the crypto gaming guilds will profit by splitting a share of the revenue and the rent paid to the guild. Most of the time, the proceeds are put back into the gaming guild to further its development.
The distribution of payment varies depending on the crypto gaming guild. In most cases, 10% is given to the guild, 20% to the managers, and 70% to the players. Others allow players and the guild to split the profits in half.
If you would like to find out what makes crypto gaming guilds different, go check this next article we have for you.
When and why did Crypto Gaming Guilds emerge?
The formation of crypto gaming guilds initially emerged as an answer to the problem of overcoming entry barriers in the P2E game Axie Infinity. In the game, you need a minimum of three decent Axies to play, which can cost you more than $10,000 during the game’s boom. That is a significant sum of starting capital for most potential players.
This resulted in the emergence of crypto gaming guilds, which aims to allow players to enter the P2E industry without a cost. More people began adopting the approach and establishing their crypto gaming guilds as time went on.
Would you like to know the Major Benefits of Joining a Crypto Gaming Guild? Proceed to this next article if you do!
Traditional gamers guilds vs. crypto gaming guilds
Traditional gamers guilds have been around for decades. Esports, often known as competitive gaming, is one reason why gaming guilds have become increasingly popular in recent years. Some famous professional gaming guilds are FaZe Clan, Cloud9, and Team Liquid.
Crypto gaming guilds and traditional gaming guilds are different from one another. The rise and fall of traditional gaming guilds are tied closely to the success of the games in which they participate.
On the other hand, crypto gaming guilds serve as venues that welcome new players and provide support by providing the necessary resources to begin playing the games. Even if a game loses its popularity, members of a crypto gaming guild can play other popular games that can bring in more revenue.
Even though crypto gaming guilds are still new, an increasing number of investors and crypto venture capitalists are already placing large bets on them. This is because hundreds of crypto games are entering the market, all of which are striving to become the next big player like Axie Infinity.
Another thing that sets crypto gaming guilds apart from other gaming communities is the social good they bring to the gaming industry. People who live in developing nations or come from underprivileged families can now have a chance to achieve financial independence through P2E gaming.
The Best Crypto Gaming Guilds
Yield Guild Games (YGG), formed by Gabby Dizon, is by far in first place among the most successful NFT gaming guilds. YGG offers not just Axie Infinity but also Guild of Guardians, The Sandbox, and Star Atlas.
Merit Circle is yet another intriguing crypto gaming guild to check out. It has more than 3,000 players under a total of 30 games. Axie Infinity is the top game under Merit Circle, in addition to Sidus Heroes and Vulcan Verse.
Good Games Guild (GGG) is a relatively new crypto gaming guild with much potential. Aside from Axie Infinity, the guilds also offer Titan Hunters and Wasted Lands.
Railings University (RU) is another large crypto gaming guild that continuously grow and aims to not just provide P2E opportunities for gamers, but also become a breeding ground for gaming legends. It currently has more than 3,000 gamers and over 20 new and upcoming games to play.
Start earning from doing what you love; join a crypto gaming guild today!
Joining a crypto gaming guild can be a fantastic opportunity to make some money while also having fun playing the games you love. It will be interesting to observe how the P2E market develops over the following years, given the rise in popularity of the metaverse.
The best gamers guild to join if you want to have a smooth-sailing P2E experience is Railings University under Play It Forward DAO. Check out how you can join by joining RU’s Discord channel. Join its growing social media channels on Twitter, YouTube, Facebook, LinkedIn, and TikTok.
Updates and important announcements on Railings University and Play It Forward DAO can also be accessed via Telegram and/or Discord. For more articles like this, subscribe and follow this Medium account.
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