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What Is a Crypto Gaming Guild?

A crypto gaming guild is a decentralized organization that brings together players, enthusiasts, and game developers within a single community that bands together to play and share resources.

With more and more high-quality blockchain-powered games being released, GameFi continues to attract player attention as a novel way to fuse gameplay mechanics with financial mechanisms.

While the play-to-earn gaming model has demonstrated some success, it often presents a challenge—a high entry barrier of entry for newcomers who must acquire in-game assets to be able to start playing and competing.

Crypto gaming guilds were created to help new players overcome these hurdles by creating a mutually beneficial dynamic where both new players can join the game’s ecosystem and the guild can grow its influence across GameFi.

In this post, we’ll explore crypto gaming guilds, how they work, and examine their impact on the wider blockchain gaming landscape.

How Do Crypto Gaming Guilds Work?

Crypto gaming guilds are decentralized organizations that bring together players, enthusiasts, and game developers within a single community that bands together to play and share resources. Crypto gaming guilds often operate under a decentralized autonomous organization (DAO) structure, meaning decisions are made collectively by the guild’s members.

Funding for guilds typically comes from a combination of member contributions and revenue generated from various in-game activities and gaming ecosystem ventures. Through the guild, new players can rent or borrow non-fungible token (NFT) assets—such as in-game characters, items, or land—from other members called managers or the guild itself to bootstrap their participation in the game’s ecosystem and start earning in-game rewards.

A crypto gaming guild is not so different from a traditional gaming guild (or “clan”) in that it’s a community that comes together to play games. However, the open in-game economies enabled by blockchain technology allow crypto gaming guilds to be constructed around a stronger sense of collective ownership. While in traditional games, ownership of in-game assets is a decision considered and approved by the game developer, within crypto games, it’s a fundamental right.

Blockchain games offer sovereign ownership over in-game assets to both individual players and gaming guilds.

Scholarship Programs in Crypto Gaming Guilds

Scholarship programs—a unique feature of crypto gaming guilds—are designed to help onboard new players into the blockchain gaming ecosystem while expanding the guild’s reach. The concept originated in early play-to-earn games such as Axie Infinity, where players breed and battle on-chain creatures called Axies. At the height of the game’s popularity, it became too costly to acquire for most new players.

Under a scholarship program, the guild provides NFT assets to new players who then share a portion of their rewards with the guild according to a predetermined split between guild, manager, and player. This win-win arrangement empowers new players to enter the game without significant financial barriers while also supporting the growth of the guild’s influence across GameFi.

The Role of Guilds in the Crypto Space

While scholarships are an important feature of crypto gaming guilds, guilds aim to offer a range of additional benefits to members, most notably helping to organize and strengthen gaming communities. By providing a venue where players and enthusiasts can collaborate, share strategies, and play together, guilds create more tight-knit communities within Web3 gaming and support the economic sustainability of blockchain games. Influential guilds may even impact game development decisions by providing player feedback to game developers.

Guilds can also help protect members from fraudulent projects. By conducting due diligence and promoting only legitimate games and play-to-earn opportunities, guilds act as a quality control funnel for GameFi projects. By actively curating and promoting high-quality projects, guilds provide their members with access to gaming opportunities while also driving the growth and adoption of the broader blockchain gaming industry.

Crypto gaming guilds can also serve as a venue for helping to educate players who are new to the world of Web3 gaming by getting them familiar with basic concepts, such as setting up a wallet, custodying assets, and transferring funds.

Guilds can also become influential players in the broader blockchain gaming industry, acting as incubators for innovative game development studios.

Profit Sharing in Crypto Gaming Guilds

Typically, gaming guilds implement a profit-sharing system to incentivize member participation based on the revenue generated from in-game activities and other ventures.

One common model involves distributing earnings proportionally among members based on individual contributions, such as purchased tokens, NFT assets, time spent playing games, or specific in-game achievements. Some guilds use a tiered system, rewarding more active or higher-contributing members. In this sense, participating in a crypto gaming guild resembles involvement in an early-stage product or startup.

The Future of GameFi and Crypto Gaming Guilds

Gaming is the world’s largest entertainment industry, and blockchain gaming is set to capture an increasing portion of this market. As GameFi continues to evolve, crypto gaming guilds can help drive the adoption of this new entertainment sector by increasing participation, highlighting the best games for players, and fostering a sense of community.

Read more: https://blog.chain.link/crypto-gaming-guilds/

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