More than 20,000 new academics have joined the guild, which continues to experience strong demand for play-to-earn games.
In terms of new academics for the Axie Infinity platform and other play-to-earn games, the popular gaming guild YGG has passed a significant milestone.
In February, Yield Guild Games reported 20,700 unique academics, a growth of 8,500 percent from the same month the previous year, when there were only 241. The achievement is a “new record in the play-to-earn space,” according to YGG, who shared the news.
New players can borrow a team of Axie NFTs from the Guild through the play-to-earn scholarships. The player, the community manager, and the YGG DAO divide the player’s in-game earnings.
YGG’s Global Chief Operating Officer, Colin Goltra,
This is only the first of many YGG milestones that we hope to reach. We’ve significantly increased our organisational commitment in our “Game Ops” department, which serves as a link between the games we work with and our guild members.
Scholars farmed more than 26.4 million SLP, Axie Infinity’s native token, in February, according to YGG. This is a 57 percent rise over the previous month’s farming data.
Scholars earned more than 18.4 million SLP (worth roughly $360,000 as of the end of February), accounting for 70% of the total, while the scholarship manager received 20% and the Guild received 10%.
Despite the price drop in SLP (Smooth Love Potion), there has been a steady demand for YGG scholarships. According to CoinGecko, SLP is presently selling at roughly $0.018, down more than 95% from its all-time high of $0.40 in July 2021.
YGG is a decentralised community of gamers that earn money by playing. YGG Pilipinas is a localised entity dedicated to Filipino gamers, and YGG subDAOs may be found throughout Southeast Asia, India, Latin America, and Brazil. It invests in yield-generating in-game nonfungible tokens (NFTs) that are lent out to gamers over numerous games. In June 2021, it received a $4 million investment round to invest in NFTs, and it has raised a total of $22.4 million through three rounds of funding and a public offering.
YGG has offered similar incentives for the soccer-themed cyberpunk play-to-earn game CyBall, in addition to Axie scholarships. The 1,000 scholarships were swiftly snatched up, and the campaign is now closed, but YGG said that more will be available soon through its Discord channel.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.