Since the sudden popularity and mass adoption of play-to-earn games, especially the blockchain game Axie Infinity, in 2021; Filipinos gained a new way to earn money as many of them were left jobless at the height of the pandemic. Although the industry has seen many ups and downs, specifically during this bear market, active Yield Guild Games (YGG) scholars reported that they saw their in-game earnings increase by 400% per player. The report was according to YGG’s Q2 2022 Community Update.
According to YGG, to address the decrease of players due to the bear market (players mostly quit because the value of the rewards have decreased in fiat), they had their managers reallocate non-fungible tokens (NFT) to active users so that they can maximize opportunities for rewards, and to further enrich the reward-earning potential of active scholars.
“15% of NFTs have been reallocated thus far, and thanks to this initiative, in-game earnings per player have increased by 400%.” –YGG
Scholars play a play-to-earn game on behalf of a manager or a guild that lended them a crypto or game asset. In exchange for lending them the asset and the scholars playing for the managers, they will have an agreement regarding the percentage split of rewards or earnings. This kind of relationship is called a “scholarship”. (Read more: Comprehensive Axie Infinity Scholarship Guide [English])
Currently, the guild offers scholarships in Axie Infinity, CyBall, Fancy Birds, Aavegotchi, Legends of Venari, and Thetan Arena.
Consequently, YGG disclosed that in their 2nd quarter, their play-to-earn scholarship programs collectively earned over $600,000 (or more than ₱33 million).
To further boost their scholars’ motivation to play, the 61 Scholarship Managers of the guild also launched YGG Scholars Tournament, an Axie Infinity esports tournament among YGG scholars, “as a way for them to experience a competitive environment, sharpen their skills and be inspired to join other tournaments in the future.”
Recently, YGG scholars were also graced as Metacrafters.io, a collaborative Web3 developer curriculum, announced the launch of its pilot program which allowed close to a thousand YGG scholars access to its Learn-to-earn platform. Like other learning institutions, Metacrafters will also have tuition fee but scholars in the YGG pilot program will have their tuition covered by YGG in exchange for sharing a portion of their rewards. (Read more: Metacrafters.io Gives Select YGG Scholars Access to Learn-to-Earn Game)
On the other hand, in a recent survey YGG conducted from September to December 2021 to over 230 scholars from different countries which aims to gauge their progress and measure the impact of the program on their daily lives. The survey found out that 86% or more than 190 scholars were clueless about cryptocurrency before their scholarship. Moreover, scholars admitted that playing blockchain games and earning cryptocurrency rewards through the YGG Sponsor-a-Scholar Program was their first time using crypto. (Read more: 86% of YGG’s Sponsored Scholars Used Crypto for the First Time)
This article is published on BitPinas: Active YGG Scholars Saw In-Game Earnings Increase of 400%
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