Prelude
After what could be deemed the worst year for the Crypto industry in 2022, 2023 was always going to be a year to heal, recover, and ultimately lay the foundation for future successes. Amid adversity, GuildFi persevered.
The following report aims to inform our community about the progress of the first half of the year and what lies ahead for us in the future.
This includes an in-depth dissection of the long-awaited Project Z, an update on the current GuildFi platform, recent partnerships and community events, and an update on the GuildFi Reserve along with the GuildFi Whitepaper. Last but not least, we also provide an update on the current GuildFi team along with various possible career opportunities!
1. Project Z
Bootstrapping the New World
We live in uncertain times. However, one thing unites us as a team: the conviction that gaming is on a path to becoming an integral part of our daily lives. In fact, it is said that 82% of gamers utilize games as a means to escape reality. With this in mind, it becomes clear that interactive entertainment will only become a bigger part of our lives, and thus, the rails needed to immerse ourselves fully must be built.
For the past few months, the GuildFi team has been working hard to accelerate this transition. With Project Z, we aim to create an experience layer that reshapes what would be considered everyday mundane activities into one that every person would look forward to completing. In an era where digital innovation has the potential to push individuals into isolated corners of unique digital ecosystems, we understand the pivotal need to build bridges that span these divides. It is within this context that Project Z was envisioned: a nexus linking activities from both physical and digital worlds, creating an interactive experience that is enjoyable and beneficial.
With that said, there will be a new series of products for the GuildFi community to look forward to with the introduction of Project Z. This includes a newly created product universe that allows each and every individual to explore their adventurous and competent self. Within this New World, users can enjoy a vast ecosystem of games combined with several social interactive elements. Along with several other features in development, we are excited to unveil a comprehensive ecosystem for our growing community.
Similarly, all new features and products launched alongside the introduction of Project Z will also be value-tied to the GF token. This will bring further use cases and benefits to GF token holders.
The Journey towards Project Z
With the roll-out of Project Z, several features built in the GuildFi Gaming Platform over the last two years will become Project Z’s infrastructure layer.
The GuildFi gaming platform, in its current form, broadly helps gamers worldwide navigate across the web3 gaming ecosystem. The wallet sync feature, the gaming profile feature, and the quest system, to name a few, continue not only to see tremendous growth in usage but also harness extremely positive feedback from all of GuildFi’s closest partners. Combined with the GuildFi marketplace and launchpad, these features remain vital in our mission to create the go-to entertainment and gaming universe.
Beyond Project Z’s core infrastructure, we’re developing additional product lines and restructuring the entire GuildFi ecosystem. Each product line will have its own respective mission, some of which will be targeted towards strictly web3 natives, while others will be targeted towards the masses. This ensures that every user, regardless of familiarity with web3 technologies, can seamlessly navigate and fully engage with our various products. By diversifying our product offerings and tailoring them to meet the varied needs of our users, we are paving the way to create the ultimate entertainment experience.
As time progresses, stay tuned as we unveil Project Z’s product lines and present an updated roadmap redefining previous expectations.
Pre-Launch Updates
With Project Z under development, the GuildFi team continues to iterate on the current Gaming platform for current users.
Numerous upgrades were implemented over the past six months to help serve GuildFi’s goal of becoming the go-to web3 gaming ecosystem. This includes an upgrade to the GuildFi V2 staking program, a GXP and EXP balance update, a new bulk purchasing system, as well as introducing several permanent quests for GuildFi’s partnered games, such as KOF and Apeiron.
With that being said, the two most significant upgrades to the GuildFi platform prior to the release of Project Z are the introduction of Milestone Quests and a Seasonal Leaderboard.
Milestone Quests
The GuildFi Milestone Quest System is designed to enhance the general user experience, ultimately providing a sense of achievement and progression. By offering daily quests within each Milestone, users are able to earn points and track their progress through a milestone bar, unlocking exciting rewards throughout.
The screenshots below display the user interface while interacting with the Milestone Quest System.
Seasonal Leaderboard
The Seasonal Leaderboard ranks users based on quest completions and GXP transactions in the GuildFi marketplace.
At the end of each season, users receive tiered rewards based on their performance. Each user’s score is calculated as follows:
- EXP gained by each user has a weight of 2
By allocating the highest weight to EXP gained via quests, users are motivated to grind and level up, reinforcing equal participation and effort.
2. GXP spent in the marketplace has a weight of 1
By allocating a higher weight to this factor, users who have accumulated GXP before the competition would need to spend to keep up with the rest of the participants, thus also reinforcing equal participation.
Each user’s rank for different seasons will be archived for future use. For example, if a user were to place at the top of the leaderboard at Rank 1 for three different seasons, the user would receive a title and extra rewards.
In essence, the seasonal leaderboard incentivizes healthy competition for users of the GuildFi platform with diverse content.
2. Gaming Partnerships
Over the past year, GuildFi has been privileged to partner with 21 exceptional gaming companies, both in the web3 and traditional gaming space. This includes but is not limited to, protocols and companies that have had existing partnerships with GuildFi and partnerships and campaigns with completely new entities. As we reflect on this journey of growth and collaboration, we are thrilled to present the highlights from our various campaigns that showcase our collective achievements and the immense support from our loyal community members.
Our platform witnessed a substantial surge in engagement, with more than 1,400,000 total transactions on our platform over the past year. This impressive figure marks a significant 40% increase from the previous year, underscoring the growing popularity of the campaigns for our community members.
The platform offers community members exclusive rewards, carefully curated to enrich their gaming experience. With over 200,000 on-platform purchases, an increase of 42% from the previous year, it’s clear our community’s enthusiasm for the gaming products on our platform is on an upwards trajectory. Notably, it was the Diablo IV Lootbox campaign that took the cake with over 65,000 purchases, while the KOF Lootbox saw over 30,000 purchases.
GuildFi’s platform has provided our valued partners with more than 92,000 pre-registrations in various campaigns. The overwhelming response from our gaming community underscores the trust and anticipation our users place in the game and/or feature launches by our partners.
Quests are an integral part of the GuildFi platform. The challenges associated with each quest add to the thrill provided when they are successfully completed. Therefore, it was of no surprise that during this period, over 60,000 quests were pursued and conquered on GuildFi.com, again showing the determination and interest of our community members in their pursuit of rewards and achievements.
As we celebrate these achievements, we extend our gratitude to our valued partners and the community. We remain committed to driving innovation and delivering exciting and engaging campaigns that have exclusive and unique rewards.
Meta World: My City
For example, GuildFi recently ran a pre-registration campaign with Metaworld, one of the largest IPs to have introduced a game with web3 mechanics — Let’s Get Rich. The campaign was a massive success, with over 80,000 pre-registrants.
The pre-registration numbers overall massively surpassed all of the GuildFi team’s expectations. This can be attributed to the streamlined, user-friendly nature that mirrors many of GuildFi’s web2 counterparts.
Due to extremely positive results, GuildFi has utilized said results to showcase the broad reach that the GuildFi platform can help bring to all our partners, regardless of their popularity and size.
3. The GuildFi Community
It has been an eventful first half of the year for the GuildFi community, with a total of 22 Discord events and a brand new Contributor program.
The Discord events ranged from events with our partners, Discord game nights, a variety of AMA and Live sessions, and esports events. For example, there was a partnership event with DOSI, a content-based event called Angpow Hunter, and five different AMAs with Apeiron, Metaworld, Oasyx, Crypto Unicorns, and GuildFi’s founder Jarindr.
More recently, GuildFi also launched the first edition of the Contributor Program. There were a total of 150 registrants, 103 of which passed the initial requirements. The Contributor Program allows anyone to help spread awareness of GuildFi’s mission and is another milestone in aligning the GuildFi team with the GuildFi community.
All in all, despite significant headwinds over the past year, GuildFi’s community remains strong, having consistently maintained above 60,000 discord users.
4. The GuildFi Reserve
The GuildFi Reserve continues to be one of the largest in the Web3 space and stands strong at a total of approximately $92.7 million, $72 million of which are in extremely liquid crypto assets, namely Stablecoins, BTC, ETH, and LP positions.
The breakdown is as follows:
Our overall strategy remains the same, where the purpose of the GuildFi Reserve is to serve our product universe and the growth of our partner ecosystem.
5. Whitepaper and Wallets update
As some of the GuildFi community members may have noticed, the whitepaper tab on the front page of the GuildFi website has recently been removed along with the initial iteration of the GuildFi whitepaper.
We have done this to prepare for the addition of Project Z, along with the revamp to the vision that the GuildFi team has as a whole. However, the new whitepaper, along with further information on Project Z, will be made available by the end of the following quarter.
Similarly, worry not, funds are #SAFU, and all of GuildFi’s on-chain wallets are listed below!
| Purpose | Wallet Address |
|-------------|--------------------------------------- |
| Main Wallet | 0x8ee03eea321b87D7EE8E9e25220Ab056AFE3cD6a |
| Yield 1 | 0x86f4d92b25bd0838f36ee1168296def9b904e1f9 |
| Yield 2 | 0x9d9820615298380d2f51b3f8c9abefb676da3263 |
| NFTs | 0x07EeF2F2A9250A009A75a6Fd5EB692aA52393Bc8 |
| Ronin | ronin:be580012858653e588b03335f0967a1de81444d4 |6. Team
As seen above, GuildFi continues to revamp our product regardless of market conditions, with the latest being the addition of Project Z.
To fulfill said vision, we have also been and continue to substantially expand our team and hire new employees that not only agree but will pursue GuildFi’s mission with utmost passion and conviction. In fact, GuildFi’s engineering team is now led by an ex-Riot employee that also helped pioneer League of Legends. The Engineering team alone now has a total of 14 people, which include both senior and entry-level developers.
Similarly, GuildFi’s product team has also grown to 7 people. The team focuses exclusively on making all of GuildFi’s current and forthcoming products as ergonomic as possible, with several roles dedicated strictly to Game Design, UX/UI, as well as other general gaming roles.
Additionally, another relatively new team within GuildFi is the creative team. Due to the aesthetic-intensive nature of Project Z’s new world, we have recently hired a combination of both senior and entry-level roles, including various artists, creative writers, and 3D modelers. The Creative team currently has a total of 10 employees, of which are led by a Creative and Art director with immense experience working at industry leaders, namely Ubisoft, Electronic Arts, and CCP.
While some parts of the different GuildFi teams are still iterating on the current GuildFi platform, the majority now dedicate themselves to building out the initial infrastructure and vision of Project Z. With our team expanding exponentially, we are confident that we will be able to achieve our goal of being the first Web3 project to create a solid foundation of an entertainment layer.
As mentioned above, the GuildFi team is still hiring and continues to look for potential candidates to join the team. If you resonate with our vision and are interested in pursuing our mission, please forward your resume to hr@guildfi.com or contact one of our team members directly through Twitter DM!
Epilogue
In summary, the GuildFi team is relentlessly innovating, introducing new features while altering the vision to resonate with the aspirations of Web3 natives, traditional gamers, and the broader digital populace.
Project Z, our most ambitious initiative yet, aims for this vision at an accelerated pace. To our community, we appreciate the patience you have given us. As mentioned, our conviction remains as high as ever on the potential of Web3, Web3 gaming, and GuildFi’s purpose. Your patience will be rewarded in the exciting months and years to come.
GuildFi’s early triumph as a gaming guild was merely the spark that ignited our journey, fostering the robust community we are all involved today. Now, the stage is set for us to create something truly exceptional. This is not just a step forward but rather a leap into a Web3 realm of limitless possibilities.
