Yield Guild Games: Community Update — Q2 2022
In this article, Yield Guild Games (YGG) shares key takeaways from the Q2 2022 Community Update, including the guild’s continued ascent in esports, its latest partnerships, and its transition into a Swiss Association.
The following contains highlights achieved by the guild as it enters a new season of building. To learn more, read the full YGG Q2 2022 Community Update here.
YGG believes in the power of a strong esports ecosystem in blockchain games and is thrilled about the guild’s dominance in this arena. Our competitive players have made us proud as they represented the guild at Axie Infinity Retreat (AIR) Las Vegas, the biggest online-to-offline tournament for Axie Infinity to date. YGG Elite player Itachity won first place, while Elm0momo and BigGabbie placed second and fourth respectively.
YGG’s Axie Infinity charity esports tournament, YGG Managers Cup, recently reached its championship stage, with Lev0x and YGG Elite, YGG’s roster of esports players, competing for the championship. YGG Elite won the tournament with a US$ 35,000 grand prize from the tournament’s official sponsor, FTX. The prize pool will be donated to Gentle Hands, a child and youth welfare agency in the Philippines.
Meanwhile, our 61 Scholarship Managers have also launched YGG Scholars Tournament, an Axie Infinity esports tournament among YGG scholars, as a way for them to experience a competitive environment, sharpen their skills and be inspired to join other tournaments in the future.
YGG Swiss Association
YGG’s migration to its new home, a Swiss Association named “Yield Guild Games,” has been a meaningful success. Here are some of the key reasons for this move:
- Limited liability among members of YGG. Over time, YGG will be able to welcome all token holders as members of the Association. This will provide token holders not only with clearly defined rights within the Association but also with better legal standing both within the organization and for their own protection.
- Flexibility in structuring committees and subcommittees for community participation. Transitioning into a Swiss Association allows YGG to innovate a constitution related to proposals and votes from committee and subcommittee members. This structure closely mirrors the aims of a DAO and will be refined by YGG over time.
- Opportunity to incorporate YGG’s subDAOs as sub-associations. By being a sub-association, a subDAO will still enjoy significant autonomy but not require significant legal documentation to relate to YGG, allowing the YGG Association and all its sub-associations to form a clearly defined YGG ecosystem.
Ultimately, this move will put YGG and its subDAOs in a better position to gradually attain decentralization across the entire YGG network.
As YGG SEA (Southeast Asia), IndiGG (India), Ola GG (global Hispanic communities) and BAYZ (Brazil) continued to gain traction in their respective markets, the YGG network welcomed a new regional subDAO this quarter: YGG Japan. Each with their own rules, treasuries, and leadership teams, these subDAOs bridge the gap between YGG and the diverse needs of a worldwide community of gamers.
To establish closer collaboration, the regional bodies will hold regular roundtable meetings as part of the YGG ecosystem. They will discuss status updates, financials and metrics, game acquisitions and partnerships, and product initiatives.
YGG has been taking steps to further enrich the reward-earning potential of active scholars, working with managers to reallocate NFTs to active users so that they can maximize opportunities for rewards. 15% of NFTs have been reallocated thus far, and thanks to this initiative, in-game earnings per player have increased by 400%.
The guild currently offers scholarships in CyBall, Fancy Birds, Aavegotchi, Legends of Venari, and Thetan Arena in addition to Axie Infinity, with many scholars playing multiple games to help mitigate market volatility. In Q2, YGG’s play-to-earn scholarship programs collectively earned over US$600,000.
At the end of Q2 2022, the number of gaming partnerships was 51 (up from 46 in Q1 2022). The guild announced partnerships with the walk-to-earn game Walken, AMGI Studios’ NFT project My Pet Hooligan, Blowfish’s space MMORPG Phantom Galaxies, and Wildlife Studios’ tower defense game Castle Crush. The fifth and final partnership for the quarter will soon be announced.
In total, those game partnerships were valued at US$17.5 million as of June 30, 2022. While down from Q1, this was reflective of the broader market sentiment across crypto. YGG will continue to partner with high-quality games created by high-caliber teams and will be deeply involved in their development to provide advice on guild management, tokenomics design and collaborations on marketing, among others. This will ensure that YGG’s partners can create games that are battle-tested for guilds while providing improved ways for guilds to manage scholars.
YGG has also signed partnerships with YGG Japan to reach the Japanese market as well as partnerships with the music NFT community and platform, StemsDAO, the proof-of-stake (PoS) gaming-focused blockchain, Oasys, and the Web3 mobile gaming portal, MetaverseGo.
These new additions to YGG’s already extensive portfolio of partnerships in games, guilds and play-to-earn infrastructure will support, enrich and provide our community with more opportunities to explore and succeed in the Metaverse. In total, there are 72 partnerships with a current value of over US$39 million.
This quarter certainly had its challenges, and we are grateful to our community for staying strong and supporting each other. As our combined efforts continue to bring value into the YGG network, we will likewise continue to deliver more ways to enrich our community. YGG firmly believes that bear markets are for building, and we look forward to working with our partners and the rest of the Web3 community to build better and stronger products and services as we all take this chance to reset and grow.
To learn more about YGG’s partnerships and activities from April to June 2022, download the full YGG Q2 2022 Community Update here.
Join the Discord Q2 2022 Community Update AMA happening on Wednesday, August 10, 2022, 7 a.m. PT / 10 a.m. ET / 4 p.m. CET / 10 p.m. SGT.