Yield Guild Games: Community Update — Q3 2022
In this article, Yield Guild Games (YGG) shares key takeaways from the Q3 2022 Community Update, including the guild’s continued ascent in esports, its latest partnerships, and a global update on the activities of the subDAOs.
The following is a short summary highlighting some of the achievements of the guild in the third quarter of 2022. To learn more, read the full YGG Q3 2022 Community Update here.
The YGG core team spent a lot of time in Q3 focusing on optimizing the organization to place a greater emphasis on growth and product development. A major element of this has been to revisit the way we work globally, and the outcome of that has been greater internal collaboration as well as increased efficiencies throughout the subDAO network. Further to this work, the YGG leadership team has commenced a program to ensure there is even more direct connection with the community at all levels of the organization.
Following on from the great results of YGG Elite at Axie Infinity Retreat (AIR) Las Vegas in Q2, the team was able to secure third place in the Axie Origin BYOD World Championship, and second and third place in the Axie Origin Stadium Series at the Axie World Championship, which took place in Barcelona, Spain, in September as part of AxieCon. In addition to this, members of the YGG Splinterlands (YGGSPL) subDAO had a triumphant run at Splinterfest 2022 in Las Vegas.
The YGG regional subDAOs have continued to solidify their position in their respective markets through localized activities. YGG SEA, IndiGG, Ola GG, BAYZ and YGG Japan are all still onboarding scholars, hosting or competing in esports tournaments, and forming new partnerships.
Q3 saw Troy, AMG DAO and SKYGG become part of the YGG subDAO ecosystem. Troy is focused on the Turkish market, which has one of the highest rates of crypto adoption globally. AMG DAO is the largest guild in Central and Eastern Europe countries (CEEC) with over 1,100 scholars. The esports community in Korea now has its own regional subDAO, with SKYGG looking to onboard traditional esports enthusiasts to Web3.
As mentioned earlier, Q3 saw an increased level of collaboration between the subDAOs, with Andy Chou, YGG Head of Ecosystem Development, hosting the second subDAO roundtable to share status updates, financials and metrics, partnerships, and product initiatives, as well as to work through some of the strategies that provide the biggest impact for each subDAO.
YGG now has 23,059 YGG Guild Badge holders who get access to YGG’s Guild Advancement Program (GAP), Reward Vaults and Web3 Metaversity, and discounted tickets for the upcoming Philippine Web3 Festival. In addition to badge holder access, more YGG community members are getting to join the Game Tester program, which gives them more access to games in beta testing.
Despite scholar attrition brought about by the market conditions over the last two quarters, the scholarship program remains an important initiative of the guild. Scholar numbers remained relatively stable since the end of Q2, and as of Q3 of 2022, the YGG scholarship program has remitted over US$14 million to its community globally.
The first season of the GAP ended in the second week of July. Over 500 YGG community members participated in 45 different quests and earned over 102,160 YGG tokens and 1,030 NFTs in rewards. This was the first iteration of the achievement-driven community token distribution protocol, which entered its second season with more than double the number of available quests and increasing the number of gaming partners offering quests to include Axie Infinity, CyBall, League of Kingdoms (including YGGLOK subDAO), Legends of Venari, Castle Crush, Big Time, Guild of Guardians, My Pet Hooligan, Blocklords, Gods Unchained and Genopets.
During Q3, YGG also released its first iteration of the YGG Reward Vaults featuring Aavegotchi (GHST) and Crypto Unicorns (RBW). YGG token holders with a Guild Badge could stake their YGG tokens for up to 90 days in a Reward Vault on the Polygon network. The vaults were designed and implemented to provide greater accessibility for community members due to lower gas fees.
At the end of Q3 2022, the guild had 55 gaming partnerships, up from 51 in Q2 2022, having announced partnerships with Limit Break’s DigiDaigaku, Trial Xtreme by Gameplay Galaxy, and Dissolution, a free-to-play action RPG, while acquiring more NFTs in the medieval strategy game, Blocklords.
In total, those game partnerships were valued at US$15.2 million as of September 30, 2022. The decline in value from Q2 was representative of the general crypto market downturn. YGG will continue to prioritize deals with the best of games that bring innovative mechanics and game loops while involving the guild in the development process as these games try to find product-market fit. Additionally, YGG will also provide additional guidance to its partners regarding guild management, tokenomics design and marketing.
In addition to the new gaming partnerships formed in Q3, YGG has established partnerships with three new subDAOs, namely Troy (Turkey), SKYGG (South Korea) and AMG DAO (Central and Eastern European region). YGG has also helped support organizations that are working on tooling and infrastructure services like Utopia Labs, a DAO payroll management software, and KapitalDAO, a Web3 guild SaaS platform.
These nine new partnerships add to the games, guilds and play-to-earn infrastructure that YGG believes will support, enrich and provide our community with more opportunities to explore and succeed in Web3. In total, there are 81 partnerships with a current value of over US$36 million.
Most industry pundits predicted that the second and third quarters of 2022 would be stagnant or declining for crypto across the board. This was reflected in the financial aspects of the organization; however, the renewed focus on building and collaboration within our network and game partners suggests that Q4 will see more activity. There is a lot of exciting development happening now that will come to market in the months ahead, and YGG is positioned exceptionally well to make the most of this.
To learn more about YGG’s partnerships and activities from July to September 2022, download the full YGG Q3 2022 Community Update here.
Join the Discord Q3 2022 Community Update AMA happening on Friday, November 4, 2022, 10 p.m. SGT.