Guilds in GameFi
GameFi Guilds are communities of gamers who play one or more games. You may have come across Guild Games in your daily life where everyone shares their favorites. Fun moments, knowledge, gaming experience, or a place to find teammates are all possible.
The formation of Guilds to connect gamers is unavoidable as more Blockchain Games emerge; the game will never be fun without community and competition. There are differences between traditional games and GameFi, so the role of Blockchain Guild Games differs from traditional Guild Games as well.
What problems do GameFi Guilds solve?
Many Play2Earn games require the purchase of NFTs, and as these games become more popular, the cost of the required NFTs rises.
For example, the popular Play2Earn game Axie Infinity requires new players to have at least three different Axies before they can join the game. Axies are Pokemon-style NFT characters that can be purchased or bred by players in the Axie universe. They could be purchased for very little in the early days of the game, but due to the popularity of Axie Infinity, new players are now shelling out nearly $300 for just a few starting Axies.
Isn’t that too much for just the game’s starter pack? This is precisely the issue that the GameFi guilds are attempting to address. Guilds bring together investors and players for the benefit of both. Investors who want to profit from Play2Earn games can do so by purchasing NFTs and other in-game assets. If NFT holders no longer have the time or desire to play, or simply no longer require a specific set of assets, they can sell them to players via guilds and continue to earn their full earning potential.
On the other hand, for newcomers who are unlikely to pay $300 to play the game, they can rent assets from the guild. It simply means that players are given NFTs of specific characters or items to use in the game with reasonable rental fees.
Nevertheless, this does not indicate that fellows don’t have to pay NFT rental fees to guilds. In exchange for these NFTs, players are usually required to pay the guild a percentage of their future earnings. Furthermore, some games allow players to “pump” their NFTs while playing, increasing the potential profit from these assets. In this case, the Fellow may spend considerable time playing and improving the rented NFT, only to return it when it is no longer required. This provides guilds with a double benefit by generating income while also building a portfolio of more powerful assets through NFT renting.
Roles of a GameFi Guilds
The GameFi Guilds serve numerous functions.
1. Connect community
This is a requirement and a core component of any Gaming Guild. Additionally, it is the Guild’s primary role and responsibility to the community. Certain features and products, whether traditional or GameFi, will be unfamiliar to users. As a result, the community is where they come to chat and ask related questions, which greatly contributes to the game project’s growing community over time.
2. Connect gamers to blockchain, and cryptocurrency world
In the traditional market, playing games is quite simple, but there are many different barriers involved with Blockchain & Crypto. As a result, Guilds play an indirect role in assisting gamers to gain access to the market, such as:
- To access the game and marketplace, you must first create a crypto wallet, such as Metamask or Trust Wallet.
- How to secure accounts, make transactions, deposit, and withdraw money on DEX and CEX exchanges for trading.
- How to get more information about the game project, such as basic gameplay, mechanisms, rewards, etc. in the game.
The more people who are aware of the Crypto market, the more funds will flow in, contributing to the market’s prosperity and long-term development.
3. Connect gamers to GameFi projects
Regular Gamefi projects will require players to own in-game characters in the form of NFTs before they can begin playing. Consequently, the initial investment is relatively high in many games, such as Axie Infinity, Cyball, and Summoner Arena, among others. This is regarded as a significant barrier for a large number of users who wish to play the game without making any initial investment.
So, Gaming Guilds may award scholarships in the form of game accounts to players, allowing them to play the game for free and earn money based on their efforts. Furthermore, while many GameFi projects sprout like mushrooms after a rain, poor quality or fraudulent projects pose significant risks to gamers. Gaming guilds help to prevent this by carefully researching, analyzing, evaluating, and selecting the best quality games before awarding scholarships to gamers.
4. Connect investors with the GameFi market
Because the Gamefi market is expanding, now is the time to attract many investors who want to invest in games but do not have time to play them. Investors can now invest in guilds and provide scholarships to gamers.
In other words, Gaming Guilds enable investors to indirectly invest in-game guilds without having to worry about how to manage accounts or effectively operate the game.
The Future of Guild Games
There is no denying Guild Games’ importance today; in addition to Games and NFT, Guild Games play an important role in propelling the GameFi industry forward.
The destination for new GameFi players.
This, in my opinion, is Guild Games’ most critical future task. GameFi is likely to attract the most non-crypto users after DeFi and NFT, which makes sense for the entire Crypto industry in general and the Game industry in particular.
The more Guild Games that are launched, the more target groups will be able to play Blockchain games; in today’s Work-from-Home economy, Guild Games have a huge opportunity to grow.
According to Yield Games Games, the company’s founder, there will be 10 million GameFi players online in a single day by 2022. Achieving the goal is dependent on the role of many Guild Games in attracting non-crypto players.
A part of the Metaverse game world.
GameFi’s interoperability is one of its most intriguing features. Traditional games, which require a lot of agreement and signing, make it difficult for games to interact with each other through lines of code.
Guild Games are capable of taking part in the Metaverse Game universe.
For example, at Yield Guild Games, there is an NFT called “Founder’s Sword” that is intended for the community’s founding members. What role do you think this “sword” will play in different games?
This is entirely possible if Yield Guild Games collaborates with the games in which they invest and adds a few lines of code to allow the NFT Sword to join their games.
Synergism has been observed in DeFi, where multiple protocols interact with one another to create an economy. Unlike traditional finance, it offers more benefits (high liquidity, capital optimization, etc.). As a result, the combination is also feasible in the gaming industry. This is the allure of Blockchain technology.
With the rise of GameFi, it’s clear that Guild Games has a lot of room to grow. And apparently, GameFi Guild Games are expected to develop rapidly in the future.