Gaming Guilds are the infrastructure for Play-to-earn games.
Did you know that with Play To Earn, you don’t have to spend a huge up-front cost to get started?
Play-to-Earn is a concept of earning while playing video games.
For everyone who loves to play games, this new game mode allows gamers to get rewarded for the time they spend in the game.
This model has quickly won traction, especially in developing countries in South America, Africa, and Southeast Asia.
When it comes to “playing and earn”, we can talk about the Elfin Kingdom. The game mechanism is simple and the design is cute. Players will need a team of three Elfins (game characters) in the adventure mode or player vs. player mode to fight, win $KING (Elfin’s in-game currency) and then convert it into other cryptocurrencies to make cash.
Each Elfin is a unique NFT that can be traded or evolve. Some players have several Elfins but don’t have time to use them to earn KING and playing on multiple accounts risks being banned.
This is how game guilds came into being a key part of Elfin Kingdom and Play-to-earn games. Players who want to play the game but lack resources are called scholars, and the guild gathers resources for them.
How does a Guild work?
Let’s look into the YGG main business model:
If we put it into context for the Elfin Kingdom, Guilds in the ecosystem will be able to rent out their NFTs and work with scholars to play the game and earn KING tokens + Digital Assets.
In this case, Elfins NFT, Land, In-game items, or In-game currency/items.
Why use a Play-to-Earn Gaming Guild?
A gaming guild is a group of players who support each other in-game and out of the game, as a community.
Crypto gaming guilds provide opportunities for users that would like to try play-to-earn games but find the obstacles to entry.
The main scenario is a guild offers a“scholarship” to potential gamers, then they “rent out” their NFTs to the “scholars”. When the scholar wins and earns, they share the profits. Typically, 10% to the guild, 20% to the managers, and 70% to the game scholars. Of course, the distribution varies per gaming guild.
Partnering and onboarding Gaming Guilds into the Elfin Kingdom ecosystem will benefit both parties. Guilds will have access to a platform with several minigames and the main game which they can get resources from.
On the other hand, Elfin Kingdom will get users and activity in the platform to grow the ecosystem and bring long term sustainability with a constant development.
Top 5 Crypto Gaming Guilds
Here I share with you a list of the most well know Guilds in the crypto space:
- Avocado DAO with 10,000+ scholars
It is a P2E gaming guild that lends NFTs to players, players can earn by playing games they invested in, and then share profits with the guild. Additionally, Avocado provides education and support for all bounty players.
- Good Games Guild with 1,000+ scholars
It is a guild aiming to create the largest virtual world economy by supporting players to participate in games, investing in new games, and earning in-game assets. The goal of its guild is not only to invest in games but also to build tools to help players manage their assets.
- Merit Circle with 3,000+ scholars
It is a Metaverse Decentralized Autonomous Organization (DAO) whose mission is to build the Metaverse empowering people to be a part of it. The organization mainly invests in the Metaverse, scholarship programs, purchasing digital assets, and providing educational services.
- UNIX Gaming with 5,000+ scholars
It is an ecosystem and a platform to onboard new GameFi projects into their own Metaverse. It empowers gamers to have a voice on how they want the landscape of Play-And-Earn to be.
- Yield Guild Games with 25,000+ scholars
It is currently the leader in the space. It operates as a DAO, and invests in NFTs and blockchain games.
Initially, guild players form part of a guild mostly only on the game level for cooperation, being part of a team, and emotionally to communicate and find friends with similar interests.
Although, with the development of the gaming industry and the popularity of e-sports, guilds started to evolve into more complex organizations.
They began to mix interests, that is, the inflow and distribution of funds.
In the Web3 era, the mantra “build together and share benefits” is the main principle. This is how the crypto gaming guilds start to appear and evolve from the old previous gaming guilds organizations:
Adopting the governance model of a DAO, providing cryptocurrency services and education, providing “scholarships” and other services.
With Web3, Token holders have the right to be part of a community and a team, they can vote on community development, the information is open and transparent additionally the profits are shared.
This is the main feature and difference from the traditional online game guild in the Web2 stage.
In addition, the relationship between the guild and the crypto games is complimentary, unlike traditional game guilds, GameFi game guilds have relatively strong financial reserves, allowing them to invest, incubate and support the operation of the different games.
In the future, with the growing demand for participating in virtual economies such as blockchain games, guilds will support and help to improve the Play-to-Earn model helping the model to evolve and find more efficient models such as Play-to-Own.