Cointime

Download App
iOS & Android

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/

Comments

All Comments

Recommended for you

  • How Crypto Could Help Open-Source AI Reach Its Potential

    The impact of artificial intelligence (AI) is being felt across various sectors, including drug discovery, workforce productivity, and personalized content on streaming platforms like Netflix. Experts predict that the AI industry will grow by 40% annually and reach a trillion-dollar market by 2030, potentially transforming industries on an unprecedented scale. The use of cryptocurrency could play a crucial role in enabling open-source AI to overcome current limitations and reach its full potential.

  • ECB board member Patsalides warns Trump's tariff plan could lead to stagflation in Europe

    Christodoulos Patsalides, a member of the European Central Bank's board, warns that if US President-elect Donald Trump follows through on his threatened trade tariffs, the European economy could ultimately fall into stagflation. "Trade tensions are escalating," said the Cyprus Central Bank governor on Thursday in Nicosia. "If trade restrictions become a reality, the outcome could be inflation, economic recession, or worse, stagflation." He said that although there is room for further lowering of borrowing costs, it should be done "at a stable pace and magnitude."

  • Scam Sniffer: Crypto-Malware "Meeten" Renamed to "Meetio", Reminding Community to Be Vigilant

    Scam Sniffer posted on X platform, stating that the crypto conference malware "Meeten" has been renamed to "Meetio". The community is warned to be vigilant, as the renamed application is just a "disguise" and still poses a security threat.

  • Bankless Co-founder: The market has entered the beginning of the second half of the crypto bull market

    Ryan Sean Adams, co-founder of Bankless, posted on X platform stating that the current market has entered the beginning stage of the second half of the crypto bull market.

  • Elon Musk appointed by Trump to lead advisory board on government efficiency and restructuring

    President-elect Donald Trump has appointed Elon Musk and Ramaswamy to lead an advisory board called the "Department of Government Efficiency." The board aims to reduce government bureaucracy, cut wasteful spending, and restructure federal agencies. Rep. Marjorie Taylor Greene will chair a House subcommittee on "DOGE" to recommend executive actions to reduce waste and provide savings for taxpayers. Musk and Ramaswamy are reportedly creating a smartphone app for Americans to file taxes for free, causing shares of tax filing services H&R Block and Intuit to drop. However, the commission has received criticism from Senator Elizabeth Warren.

  • Curve: Market leverage demand surged after Trump's election, and protocol revenue grew rapidly

    On November 21st, Curve Finance stated that the crypto industry has experienced a large-scale increase after Trump recently won the US election. Key stocks such as MSTR and COIN have been reevaluated, and Bitcoin has approached the $100,000 mark. The demand for leverage has led to an increase in DAO's weekly income, rising from an average of $268,000 before Trump took office to $581,000 in the past week. Currently, the annual income allocated to veCRV holders is approximately $31 million, not including income from participating in voting incentives. As of today, including voting incentive bonuses, DAO has accumulated $554 million.

  • Paypal: There is a problem with the system at present, which may affect multiple products

     Paypal: Currently experiencing system issues that may affect multiple products; Merchants may be facing a higher number of errors.

  • Sui: The cause of the outage has been identified and a fix will be released soon

    Sui stated in a post on X that the Sui network is currently experiencing a malfunction and is unable to process transactions. The problem has been identified and a fix will be released soon. Earlier reports indicated that Sui Network stopped producing blocks 2 hours ago and has not yet resumed.

  • BCH breaks through $500

    market shows BCH has surpassed $500, currently trading at $521, with a daily increase of over 20%. The market is volatile, please be prepared for risk control.

  • Bitwise Bitcoin ETF's holdings exceed $4 billion

    Bitwise's official data update shows that as of November 20th, the BITB Bitcoin exchange-traded fund's position has reached 42,451.73 BTC, with a market value exceeding 4 billion USD, currently reaching 4,003,716,971.36 USD.