Gaming Guilds and Crypto Games, what does it mean?
Kids of the 90s are well aware of the term gaming guilds where regular players are organized together to play the game on regular basis. However, the meaning behind the term has now changed since crypto games have taken the center stage.
Gaming Guilds & Crypto Games
Gaming guild has now become a platform that aims to support talented gamers with their funds and tools, especially in Play to Earn games. The catch here is that gaming guilds take a commission or their share from a player’s earnings. This practice is fairly common in P2E games like Axie Infinity because buying an Axie to get started with the game requires a lot of money.
This is where gaming guilds come in and support players.
An investment analyst at DeFinance Capital shared his thoughts on Twitter, “If games are the homerun high risk/high reward punts, guilds would be the blue-chip industry juggernauts standing the test of time. “High-quality guilds will effectively become a top metaverse index for the best games available to players.”
The guilds are designed to purchase crypto game NFTs and tokens and lend them to players to play games and make money. The guilds will also help new P2E games to target new gamers and bring in concurrent players.
A prime example of a gaming guild is GuildFi which leased assets to players to play crypto games during the global lockdown. GuildFi has expanded its services and also provides gaming gadgets to players, this means that Axie Infinity players can keep a record of their SLP token rewards on GuildFi.
Gaming guilds like YGG, Merit Circle and GuildFi have launched their respective tokens.
YGG’s market capitalization stands at $461 million, quite less when compared to gaming giants AXS, and MANA. Despite low capitalization, tokens are important to solve the over-centralization problem which surfaced in traditional gaming guilds.
If the crypto gaming sector fails then a failure for the gaming guild sector is inevitable!
But that is my opinion? What do you think?
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