YGG thrives despite crypto challenges

Published June 16, 2022, 11:17 AM

by Edgard Hilario

Despite the uncertainties in the global cryptocurrency landscape, Filipino-led gaming guild Yield Guild Games (YGG) remains steadfast and agile in its continued growth trajectory, effectively executing a global growth strategy.

In a recently released YGG Q1 2022 Community Update, YGG disclosed its outstanding performance in market expansion and global scholarship growth, game asset acquisition, and partnerships.

“The crypto market has always been cyclical. Despite the challenges ahead, we are continuing to build for our community. We take a very long-term perspective on the opportunities in crypto and YGG’s mission remains unchanged,” YGG Co-founder Gabby Dizon said.

Market Expansion and Scholarship Growth

YGG’s three new regional subDAOs, YGGSEA, IndiGG, and Ola GG, helped the guild realize its global expansion strategy by establishing local offerings. These subDAOs allowed the guild to operate more efficiently by localizing operations and streamlining processes, thereby effectively providing solutions specific to country, game, and regional challenges while widening player access to various Web3 opportunities.

YGGSEA supports locally developed play-to-earn games in Southeast Asia while IndiGG focuses on offering NFT assets in blockchain games and educational programs in India. On the other hand, Ola GG aims to promote financial inclusion by bringing more games and scholarships to its Hispanic community.

Additionally, these subDAOs were major drivers of scholarship growth as they allowed YGG to leverage their deep local knowledge and experience in reaching remote players and identifying local partnerships to secure services for players.

As the YGG market expands, the month-on-month scholarship has been growing as well with 50.13% in January, 28.80% in February, and 41.93% in March. Overall, YGG network provided 29,548 scholarships in Q1 with a more effective ability to onboard and manage scholars.

There are now a total of 12 games– Axie Infinity and CyBall, among others– that scholars can choose to participate in across the YGG network depending on their region and their gaming preferences. YGG is also working on offering scholarships in Fancy Birds and Crypto Raiders, and organizing community activities in Splinterlands, League of Kingdoms, and Thetan Arena. The number of game offerings available to players is expected to increase dramatically in the coming quarters as YGG offers new opportunities.

“No other gaming guild comes close to offering the same level of localized support to more scholars across the globe as YGG does. We are only just starting to see the full potential of the guild and subDAO models come into play.” Dizon shared.

Increase in Game Assets and Partnerships

At the end of Q1 2022, the guild has amassed 90,000 assets that scholars can use to earn rewards in play-to-earn gaming. YGG increased its total number of Axies by 122% due to a world-class breeding program, possessing more than 150,000 Axies across the breeding and scholarship wallets. YGG scholars had farmed a total of 195 million of Axie Infinity’s cryptocurrency, smooth love potion (SLP), last quarter.

With YGG expanding its game portfolio to offer more options to players, the guild spent the first quarter solidifying 13 new partnerships, accumulating US$2.565 million. It has so far partnered with 62 projects covering games, gaming guilds, and essential play-to-earn infrastructure that will support the YGG player community for years to come.

Dizon acknowledged that the community remains a source of strength and opportunity for the guild amidst challenging times. “Together, we can achieve great things. YGG is far more than just a group of gamers. We are a community that supports each other and tackles adversity together. And we always come out the other side stronger,” he quipped.

 
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