Yield Guild Games (YGG) has released its community update for the first quarter of 2022, revealing an overall increase of 39% in total scholarships as the guild has released copious amounts of Axi Breeding Smooth Love Potion (SLP) tokens. Continued cultivation.
The community report shows that the monthly growth of scholarships at YGG has been strong despite the downturn in the market. January saw a growth of 50.13%, February saw a growth of 28.8%, while March saw a 41.93% increase from new partnerships and the rollout of SubDAOs. As of the end of March, the Guild had 29,458 scholarships, most of them from Axi Infinity.
SubDAOs are decentralized autonomous organizations (DAOs) that are specific to particular geographic regions. There are currently three SubDAOs in Southeast Asia, India and Latin America.
YGG is a gaming guild that brings together gamers from the play-to-earn (P2E) space to generate revenue for the community and teach newcomers how to be successful through a scholarship program. The Guild generates revenue from staked YGG tokens and scholarships. The non-fungible token (NFT) game Axie Infinity is responsible for the majority of scholarships across all 12 partner games of YGG.
According to CoinGecko, to date, the guild has farmed 195 million SLPs, valued at approximately $1.1 million. SLP is a token used to breed Axis, which is one of the major activities for scholars. The report said that with 25.86 million SLP farming, February was the most profitable month as it started last April.
Prices in the crypto markets have been down until 2022, as evidenced by the 44% drop in market cap since January 1. However, blockchain gamers haven’t put their controllers down. Data from decentralized application (dApp) tracker DappRadar shows that user numbers have remained fairly stable at around 1.1 million daily gamers since the beginning of the year.
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Yield Guild Games spent $2.5 million on new partnerships through Q1. Of these, 63 per cent of the funds went to P2E game partnerships, while 23% went to guild partnerships. The remaining 14% went to infrastructure and platform support to expand the P2E ecosystem.
The future of NFT Gaming looks promising based on YGG’s growth rate and funds going toward new game development. According to data from investment tracker Airtable, since April 25, nearly $400 million has gone to fund early-stage NFT games.
YGG Yield is the core token of Guild Games. According to CoinGecko, it is down 12.3% in the last 24 hours and is trading at $0.72. Additionally, YGG is down 93.6% from its November 20 all-time high.
