It is no longer mere speculation that play-and-earn games are going to be the next big thing in the gaming market. In fact, we are already witnessing the start of a paradigm shift in the broader video game industry. At this rate, don’t be surprised if the traditional view that gaming is an unproductive activity is stripped of its relevance much faster than you probably imagined.
GuildFi, a gaming DAO with an elaborate ecosystem of Web 3.0 infrastructure, aspires to play a pivotal role in the switch to this new paradigm where gamers earn financial incentives for their skills and dedication. Let’s find out how:
What is GuildFi?
As a decentralized organization, GuildFi’s goal is to take gaming guilds to a whole new level by adding value to players, investors, and games alike. To achieve its objectives, the platform is on a mission to create an interconnected ecosystem of games and NFTs around the gaming community.
This ecosystem plans on becoming self-sustaining and loaded with resources that gamers can use to maximize their earnings.
For a better understanding of what GuildFi is, let’s skim through the problems it is trying to resolve.
Gaming guilds are great, but they have a few limitations
For those out of the loop, a guild is a community of players of online multiplayer games who join forces to help each other achieve certain objectives. Here’s a good ELI5 explanation of the characteristics and goals of a typical gaming guild.
Guilds are particularly useful in the GameFi ecosystem because most P2E games including the popular ones tend to have a very high start-up cost for players. The learning curve is also pretty steep in most cases.
Guilds help tackle these problems by offering in-game assets such as NFT characters to members in exchange for a part of the in-game profits earned by the borrowers. Guilds also help new players to up their skills and learn essential strategies to progress through a game and so on.
Despite all these perks, gaming guilds tend to have certain inherent shortcomings. For example, fragmentation of scholarship funds, i.e. funds owned and controlled by a guild.
Most scholarship funds are usually for a single game within a guild and that severely restricts members’ ability to make the most of that guild’s full potential. Each guild is pretty much a silo of its own and is cut off from other guilds. There is no interoperability whatsoever. This is where GuildFi promises to make a difference.
Solutions offered by GuildFi
GuildFi pitches itself as the ultimate destination that adds value to your gaming and metaverse experience. GuildFi provides a platform for individual gaming guilds to connect in a mutually beneficial arrangement.
The platform is open to all types of guilds — be it social guilds, P2E guilds, or guilds aimed at any other type of gaming project.
To sum it up, GuildFi is promising to deliver the following:
- A dedicated scholarship aggregator platform.
- Helping members with game curation and discovery.
- Providing members (both players and developers) with resources.
- A unique Guilds-as-a-Service model.
- Financial incentives to players via a new reward system.
It is worth noting here that by helping members with game curation and discovery, combined with a unique Proof-of-Play reward system, GuildFi promises to transform the whole play-to-earn model into a superior and more fulfilling play-and-earn experience. Allow us to briefly explain:
As you can probably tell, the number of high-quality P2E titles is still pretty low, which is understandable considering that the industry itself is pretty new. At the same time, competition for scholarships also tends to be pretty intense. Both these factors combine to force gamers to pick one of the two following options:
- Face the intense competition to play games that can earn them sizable revenue.
- Play only the games they actually enjoy, but at the expense of their earning potential.
GuildFi aspires to help gamers get rid of this conundrum. With its unique proof-of-play reward system, the platform turns any game into a play-to-earn game. And thus, the compulsion to choose between the game you love and the game that might earn you money is gone just like that!
GuildFi calls this the play-and-earn model as it allows you to play any game within the GuildFi ecosystem and the earning part is taken care of automatically. Additionally, it also helps you establish an ultimate gamer identity which includes your lifetime achievements across different P2E games and metaverses.
GuildFi: How to join the ecosystem
Joining GuildFi is pretty much the proverbial walk in the park so long as you know how to use a crypto wallet. All you have to do is:
- Go to GuildFi.com
- Create an account using your email ID
- Connect your crypto wallet and Discord account to the newly created GuildFi account.
The GuildFi ecosystem comprises the following two components:
- Gaming Center – this is the place where users can start their journey in the metaverses. The Gaming Center can be further split into four components including GuildFi ID, Game Discovery, Guild Discovery, and Proof-of-Play rewards.
- Zones, which are dedicated engines that drive business activities and bring value to the GuildFi ecosystem. There are three types of Zones in the GuildFi ecosystem including Guild Zone, NFT Zone, and Tools Zone.
We plan on covering all these different components and their features within the broader GuildFi ecosystem in a detailed review in the coming weeks. Until then, check out the GuildFi whitepaper for further details.
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