Yield Guild Games has secured $4 million in investment, confirming its premise that gamers should be able to make a job playing games.
It’s an unusual concept, yet it fits in a decade marked by the explosion of new careers such as streamer and YouTuber. Yield Guild Games is a collection of people who collectively play games to earn bitcoin incentives. Bitkraft Ventures led the round.
The NFT opportunity
Yield Guild Games and Emfarsis Consulting collaborated on the 18-minute video. With no employment, they went to Sky Mavis’ Axie Infinity, a game where players may collect prizes as they play. Axie Infinity employs nonfungible tokens to identify digital goods in its cartoon-style PC and mobile game. The game rewards players with Smooth Love Potion. They may then convert it to cryptocurrency and subsequently to actual money.
Art, sports collectibles, and music have all blossomed with NFTs. NBA Best Shot (a digital version of collectible basketball cards) NBA Top Shot has already sold over $500 million in five months. A Beeple NFT digital collage sold for $69.3 million at Christie’s. Investors are pouring money into NFTs, including some gamers. Price reductions haven’t discouraged NFT enthusiasts.
Starting the guild
Co-founder of Yield Guild Games Gabby Dizon made a group of players who would share profits and help each other earn more money. Dizon talked about NFTs at our GamesBeat Summit 2021 event, which took place in 2019.
As far as the macro-level goes, he said it looks like a group of real estate. We have the ability to invest in valuable assets, work those assets and improve them, and then get a share of the profit.
He also thinks that almost every game will have a P2E community in the future.
There are still a lot of people who aren’t sure about it yet. The way he sees it, if he invests in us, it means that it is accurate.
The Play-to-Earn model
It’s a revolutionary business concept where you can make real money by playing games. Players may earn prizes like in-game assets and tokens by actively engaging in the virtual world economy.
Specifically, Axie Infinity is one of the play-to-earn games that Yield Guild Games supports. Winning fights earns players an in-game token called Smooth Love Potion (SLP). SLP is required for breeding new Axies. Furthermore, it may be exchanged for other cryptocurrencies on a public market.
We further wish to accelerate the trend of earning money by managing, leasing, and selling in-game assets. Player community Yield Guild Games invests in and lends NFT assets from numerous games to its members.
NFTs are thought to give real digital rights to people who play blockchain games and virtual worlds. Moreover, these eliminate the cloning issue that has typically decreased the value of in-game objects.
The Backers
A.Capital Ventures, IDEO CoLab, Mechanism Capital, and ParaFi Capital specifically are just a few of the other investors in Bitkraft Ventures, as well. In addition, existing investors like Animoca Brands, Ascensive Assets, and SevenX Ventures have already backed the company. In the past, Yield Guild Games raised a $1.325 million seed round from Delphi Digital with help from BlockTower Capital, Scalar Capital, and other investors.
Dennis Fong, CEO of GGWP, Carlos Rodriguez, CEO of G2 Esports, Sky Mavis CEO Trung Nguyen, and Sky Mavis co-founder Jiho Zirlin are some of the angel investors. NFT assets from play-to-win games will be bought with the money. The Yield Guild Games network will grow by gaining more players from all over the world.
The investment shows Bitkraft’s strong support for blockchain and crypto technology. Bitkraft recently announced a partnership with Delphi Digital, a blockchain advisory firm. Delphi Digital will help Bitkraft find the best investment opportunities at the intersection of crypto and gaming.
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