Tuesday, September 27, 2022
HomeTechnologyYGG surpasses $20,000 Axie Infinity P2E scholarship mark

YGG surpasses $20,000 Axie Infinity P2E scholarship mark

There are currently over 20,000 new scholars in the guild, which continues to experience strong demand for play-to-earn games.

The Yield Guide Games (YGG), a prominent gaming guild, has hit a new milestone in terms of new scholars for the Axie Infinity platform and other play-to-earn (P2E) games. In February, YGG reported 20,700 unique academics, a rise of 8,500% over the same month last year, when there were just 241. The accomplishment is a “new record in the play-to-earn space.” The Guild’s play-to-earn scholarships let new players borrow a squad of non-fungible Axie tokens (NFTs). Their in-game revenues are then divided among the players, the community manager, and the YGG DAO, or decentralised autonomous organisation.

YGG’s worldwide chief operations officer, Colin Goltra, stated that this is only the first of many milestones we hope to reach with YGG. We’ve significantly increased organisational investment in our “Game Ops” department, which serves as a link between the games we partner with and our community of guild members. He went on to say that scholars earned more than 18.4 million SLP (worth roughly $360,000 at the end of February), accounting for 70% of the total, while the scholarship manager received 20% and the Guild received 10%.

Despite the drop in SLP prices, 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 play to earn money. YGG Pilipinas is a specialised body dedicated to Filipino gamers, and there are YGG subDAOs in Southeast Asia, India, Latin America, and Brazil. It invests in yield-generating in-game NFTs that are lent out to gamers across numerous games. It received a $4 million investment round in June 2021 to invest in NFTs, and it has received three rounds of funding and a public sale totalling $22.4 million.

In addition to Axie scholarships, YGG has offered similar incentives for the soccer-themed cyberpunk play-to-earn game CyBall. The 1,000 scholarships were swiftly snatched up, and the programme is now filled, but YGG stated that more will be available shortly via its Discord channel.

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Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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