5 min read
A Deep dive into Crypto Gaming Guilds
There is a big difference between a guild in World of Warcraft and crypto gaming guilds. While the traditional guild is limited to the game, and it can rise or fall with it, the crypto variant aims to become a platform to support new gamers
The early days of guilds
Perhaps some of you recall the picture below. Some of you still see this picture every day or every week. A guild such as this could be found in the renowned game World of Warcraft back in the day. In this game, a guild was a team you could establish with friends or strangers and work as a unit to achieve great things. From taking down large bosses to engaging in PVP with rival guilds. All for a collective benefit.
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So, what does this have to do with Crypto? Let’s jump in!
Personally, I love playing video games, and I've always wished there was a way I could do it as a career. Consider taking up full-time ADC or TDM play in League of Legends or Call of Duty, respectively. When this was previously only possible in dreams, with crypto gaming guilds, it's closer to reality. In exchange for the players' cash, these gaming guilds give players the tools they need to enjoy play-to-earn games. It's all about the grind these days; being proficient at an E-Sport or honing your aim for hours is no longer necessary.
How is this different from guilds in traditional games?
A guild in World of Warcraft and guilds in crypto games are very different from one another. The crypto version seeks to develop as a platform to support new players, in contrast to the traditional guild, which is constrained to the game and might rise or die with it. Members of a crypto guild can swiftly switch to something that is more effective for the organization's revenue even if a game loses popularity.
By doing this, the guild makes sure that no member is squandering time or potential when there may be a better choice available. While it's still too early to know how effective a Crypto guild really is, seasoned investors are already beginning to realize that it's worthwhile to stake a significant amount of money in these guilds.
It is worthwhile to invest in these guilds that are searching for such a goldmine because there are numerous games that have the potential to become the next Axie Infinity, for instance. Being at the top of a game with similar, or even more potential, might be extremely profitable for a guild in the crypto market.
Alright, I'm intrigued. What are some top guilds out there?
With a market cap of more than $270 million, Yield Guild Games is by far the biggest gaming guild. By giving players various opportunities, YGG, which runs as a DAO, hopes to increase the liquidity of P2E games. Around 4,700 scholars participate in the Yield Guild and rent or profit from its resources, allowing them to play games they otherwise couldn't afford. YGG focuses on the widest variety of games of all gaming guilds.
Another guild that is governed by DAO is Mercit Circle. This guild is currently active in games like Axie Infinity, Star Atlas, Illuvium, and Hash Rush. The subDAO for each game the guild participates in effectively houses the game's resources. In addition, the subDAO approach allows the guild to keep its earnings even if one game is hacked since other games are not impacted. Around 1200 students are enrolled in the Merit program.
Additionally, UniX Gaming runs a DAO with about 1,200 students. Axie Infinity, Star Atlas, and Splinterlands are a few games that UniX supports. Like Merit Circle, each game has a subDAO that stores unique assets.
My favorite gaming guild is GuildFi, which aims to build a network of connected games, communities, and NFTs that maximizes player advantages while enabling interoperability throughout the metaverse. The guild's main goals are to address access and discovery issues while maximizing player performance and incentives. In addition, they are unique in that GuildFi offers a BYO or Guild-as-a-Service option. This implies that interested investor groups can create their guilds independently of GuildFi and subsequently join the GuildFi network.
Your GuildFi ID can be used anywhere in the GuildFi ecosystem, similar to a metaverse passport. Additionally, GuildFi allows you to stake and earn up to 450% APY. On GuildFi, $42 million in value has currently been staked.
How can you join a crypto gaming guild?
In reality, joining a guild is really easy. There are many other guilds available that you can readily find online, even though I only listed four guilds. In addition, every guild has some sort of application website where you can either join Discord to learn more about the guild or complete a form on the page.
Guilds will provide you with a starting account for the game you choose to play, and you could get some instruction on winning tactics. Depending on the guild you are applying to, but generally speaking, all you have to do to find out whether there is an opening for you in the guild is ask around on their Discord.
Are there any downsides to a gaming guild?
To sum up, there are a few difficulties that come with crypto gaming guild tokens:
- the fact that it is highly reliant on the guild's outputs
- The popularity of the games that guild members play
- It is risky because the value of the NFTs can fluctuate a lot
- The potential demise of gaming guilds in the event that the cryptocurrency gaming industry fails (I personally believe there is a 0.0001% chance that this will happen). I think that a LOT of new Crypto and Metaverse users will enter the scene through gaming. But even so...
Think of it this way. If you enjoy playing crypto games, you might as well join a guild to boost your earnings from gaming sessions. Think of this as a secondary mission. The larger picture will always remain cryptocurrency in general, but if you enjoy playing crypto games — and, as I may add, there are a ton of brand-new, triple-A crypto games coming your way in 2022 — why not?
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