The Complete Guide to Crypto Gaming Guilds

Author: Gamestarter; Compiler: Huohuo/Blockchain Vernacular

With the continuous release of high-quality blockchain games offering innovative combinations of game mechanics and financial structures, GameFi is attracting player interest.

Play-to-earn game models, while showing signs of success, often present significant obstacles for newcomers. The challenge lies in the huge barrier to entry, requiring the purchase of in-game assets to start playing and competing.

**How can we find a solution to this problem? This is where crypto gaming guilds come into play. **

In the discussions that follow, we’ll delve into the world of cryptocurrency gaming guilds, examining their functions and assessing their impact on the broader blockchain gaming landscape.

**1. What is the Cryptocurrency Game Association? **

Gaming guilds, communities of players who band together and create their own culture around video games, have a rich history. Esports teams are prominent examples of gaming guilds, with the unique advantage of generating steady income through gaming activities.

In contrast, casual gaming communities often lack opportunities for financial gain. However, with the advent of blockchain technology, a new era is upon us. Now, every gaming guild, regardless of status, can enjoy the privilege of monetizing their passion, opening the door to profit from doing what they love.

Cryptocurrency Gaming Guild is a collaborative entity of gamers, investors and managers with a dual purpose mission in the cryptocurrency market:

• First, they channel investment into emerging web3 gaming initiatives, providing funding and assurance to foster a thriving Play-to-earn ecosystem.
• Second, they extend resources to players who may lack access to resources, providing items such as NFT characters or in-game tokens. When players subsequently generate income, that income is shared with the guild, creating a symbiotic relationship that benefits both parties.

The Gaming Guild is committed to expanding the global GameFi market by simplifying the participation process for the majority of players and educating those unfamiliar with cryptocurrencies. This effort allows everyone to participate in the virtual universe’s economy, creating advantages for both gamers and the guild itself.

Source: Chainplay Guild Performance

2. How does the cryptocurrency game guild work?

The Crypto Gaming Association is concerned with more than expanding the GameFi market. Their mission includes driving progress across the cryptocurrency space, driving it towards mainstream adoption. They contribute to the cryptocurrency space in many ways, and their involvement can be understood through five distinct roles:

1) Community Onboarding

At the heart of every gaming guild is its community, which is critical to the growth and potential social impact of any gaming ecosystem.

The game guild operates under the DAO (Decentralized Autonomous Organization) structure. In this arrangement, the Guild is funded from the community of DAO Token holders, using specific DAO Tokens issued by the Guild itself. Guild members jointly invest in the NFT assets and in-game Tokens required for participation.

**The main function of the game guild is not only to play games. It acts as a guide to the web3 world, helping members understand the unique features of blockchain games. **Guilds are meeting places for discussion and questions, not only for players, but for game projects as a whole. It is a space for people to learn, communicate and contribute to the development of the blockchain gaming community.

2) Scholarship Program

The DAO model within the guild is called the “Scholarship Program” and was created to overcome the barriers to entry for playing money-making games, and it works as follows:

**– Owners and Managers: ** Those who own NFT (non-fungible Token) assets in the guild (called “managers”) have the ability to lend their NFT to other members.

** – Scholars**: These other members, known as “Scholars”, can use borrowed digital assets to participate in crypto games, play games and earn money.

**– Profit Sharing: **After playing, the profits are shared within the guild. A typical distribution might be 10% to the guild as rent, 20% to managers, and 70% to academics, although some guilds may split profits differently.

This innovative system extends far beyond the scope of the game. It had a profound social impact around the world, opening the door for almost anyone to experience new games and make money

Yield Guild Games (YGG) is a prime example of the impact of a scholarship program. The Philippines-based cryptocurrency gaming association has implemented a scholarship program to help hundreds of thousands of players in the country. YGG has truly provided a life-changing financial opportunity to many people by allowing them to earn extra income through gaming.

3) Quality control of Gamefi projects

Driven by the Axie Infinity craze in 2021, the GameFi space is surging in popularity, fueling ambitions to create the next innovative gaming product.

However, this enthusiasm also has its dark side, as it has also led to the emergence of low-quality and fraudulent projects trying to cash in on the “play and earn” hype. These scams and deceptive tactics (known as “carpet pulling”) pose a real threat to players.

Top gaming associations recognize the need to protect their members from these risks and take their responsibilities seriously. The process involves:

– Research and Analysis: They carefully study the economic system of the investment project, scrutinizing every detail to ensure authenticity and potential.

– Playtesting and Evaluation: Guilds also test games themselves and carefully evaluate them for gameplay experience and potential pitfalls.

** – Awarding Scholarships**: Guilds will award scholarships to their members only after a thorough inspection and satisfaction to ensure their participation in legitimate and quality projects.

This rigorous process underscores the guild’s commitment to protecting its members and fostering a healthy, trustworthy gaming environment in the rapidly expanding GameFi space.

4) Traditional games to blockchain games

Unlike traditional video games, blockchain-based games incorporate complex and intimidating elements, especially for those unfamiliar with the crypto world. The future success of the GameFi industry depends on making these games accessible to a wider audience, and education is key to achieving this mission.

In this context, guilds play a vital supportive role in bridging the gap between non-crypto gamers and emerging markets. They provide much-needed guidance and resources on a variety of fronts, including but not limited to:

– Create a Crypto Wallet: Teaches newbies how to set up a wallet to access games and markets.

** – Handling Funds: ** Instructions on how to deposit and withdraw funds on the trading platform, and how to trade using decentralized applications (DApps).

** – Securing Transactions**: Provides instructions on securing accounts, performing secure transactions, and understanding various security protocols.

– Understand Game Mechanics: Provides insights into specific game items, including game mechanics, reward systems, and other unique features.

By demystifying these elements, guilds enable non-crypto gamers to explore and participate in the GameFi universe. Knowledgeable users are more likely to explore different aspects of the market, leading to an influx of funds. This, in turn, drives the long-term growth of the industry.

5) Connect investors and games

The Crypto Gaming Association is expanding its role as a venture capitalist in the GameFi space, connecting the gaming community with the investment world. That’s it:

** – Scouting and Investing**: Guild finds and invests in promising crypto games, provides support and helps them grow.

** – Facilitate indirect investment: **Guilds offer an option for those who want to invest in the GameFi space but don’t want to play or research games themselves: they allow investors to provide funds directly to the Guild, which then manages the gaming investment and distributes the scholarship assigned to members. This process simplifies investing by eliminating the need for personal research and game interaction, and allows investing in different games in a diversified manner.

** – Boosting the GameFi Ecosystem: **By connecting gaming with investment capital, Guilds can enhance innovation and the overall health of the GameFi market.

Despite the challenges of a bear market and huge barriers to entry in the GameFi space, there is still optimism about its future prospects. The appeal of games as the world’s leading entertainment medium presents unique earning opportunities. The Crypto Gaming Association has become a key player in this space, providing solutions through innovative lending programs and acting as an educational bridge to the crypto world.

For enthusiastic gamers and investors who don’t have the time to play games, these guilds represent a way to participate in a fast-growing industry, potentially bringing mass adoption one step closer and providing alternative investment opportunities.

This isn’t just a phase of the past - it’s the dawn of a new era, and the Crypto Gaming Guild is leading us into an exciting future. Get ready…the next level of play has just begun!