What are Crypto Game Guilds? Should you join a Crypto Guild?
Something that a lot of people would consider their dream job, especially for young adults, is to get paid for playing video games. While this might have been nothing but a dream a few years ago, today, this is the reality we live in, and an opportunity that many could take in order to start a successful career.
The easiest and most efficient way nowadays, is to join a game guild that provides the gamers with the necessities to experience play-to-earn titles in exchange of the players’ earnings. No more being good at an esport, or practicing your aim for hours, it’s all about the grind now.
What makes crypto guilds different?
There is a big difference between traditional gaming guilds and crypto game guilds. While the traditional type is limited to the game, and it can rise or fall with it, the crypto variant aims to become a platform to support new gamers. Even if a game becomes unpopular, members of a crypto guild can quickly move to something that is more efficient for the income of the organization.
By doing this, the guild ensures that no one within it is wasting time and their potential if there is a better option out there. While it is still a bit too early to tell just how successful can a Crypto guild truly is, experienced investors are already starting to notice that it is worth making a big bet on these guilds.
Because there are hundreds of potential games that can become the next Axie Infinity, for example, it is worth investing in these guilds that are seeking such a goldmine. Discovering the game with such similar, or even bigger potential could be huge in the crypto market, and being at the top in such a game for a guild would be huge.
It is all about the NFTs
In 2021, NFTs have boomed in popularity, and with that, their value. While most Non-fungible tokens are not worth too much, there are some which are worth millions. By playing various crypto games, a guild is able to obtain as many NFTs as possible from various sources, and most of them aim to create their own NFT market if they did not do so already.
With the launch of tokens, Crypto guilds have the potential to solve the centralization problem that traditional guilds have. So instead of guilds being nothing more than social coordinators, they play a much more economic role with the digital assets that players can use.
What are the top Crypto gaming guilds?
Yield Guild Games are by far the largest gaming guild with over a $650 million market cap. YGG operates as a DAO and they plan to bring liquidity to play-to-earn games by opening more opportunities to young gamers. Currently, there are over 4,700 scholars in the Yield Guild that rent or make a profit by using the guild’s assets, and they are getting to play the games that they normally wouldn’t be able to afford.
Mercit Circle is another guild governed by DAO. This guild currently does its work with games like Axie Infinity, Star Atlas, Illuvium, and Hash Rush. Each game the guild plays has a subDAO, which essentially holds the assets to that game. By using the subDAO method, if a certain game gets hacked, other ones are not affected, and the guild gets to keep their earnings. Merit has 1200 scholars under their program.
The Good Games Guild is not that big compared to the first two mentions, as they only have 300 scholars in their program. However, they have various partners, as well as they, own native token called the $GGG which has a maximum supply of 100 million tokens.
How can you join a Crypto guild?
Joining a guild is actually very simple. While we listed only three guilds, there are many other guilds out there that you can easily find online. Every guild has some kind of application page where you can either submit a form on the page or join Discord to learn more info about the guild.
Guilds will start you off with an account for the game you are interested in, and you might receive some training on effective strategies within the game. It all depends on what guild you are applying for, but in general, if there is an open spot for you in the guild, all you have to do is ask around their Discord.
What is the downside of gaming guilds?
Naturally, the problem with having a gaming guild token is kind of obvious, and that is the fact that it is heavily dependent on the yields generated by the guild. The popularity of the games played by the guilds and the value of NFTs can change overnight, which is a bit risky.
Another thing that is very risky and is a potential downfall of gaming guilds is if crypto gaming fails. The play-to-earn games are currently on the rise when it comes to the increase in their market value percentage, but we all know how unstable crypto-related things can be.
If you are a gamer, and you have some spare time to invest in playing crypto games, you might as well join a guild and increase the income from your gaming sessions. However, if you do not have much time or money to toss around, it might be a good idea to see how the Crypto gaming market will turn out.