Game on: Yield Guild Games scholarships on the rise through Q1
Yield Guild Games (YGG) has released its Q1 2022 Community Update, indicating that total scholarships increased by 39% as the guild continues to farm copious amounts of the Axie breeding Smooth Love Potion (SLP) token.
Despite a market slump, the month-on-month increase of scholarships in YGG has been strong, according to the Community Report. New partnerships and the implementation of SubDAOs spurred 50.13 percent growth in January, 28.8 percent growth in February, and 41.93 percent growth in March. The guild had 29,458 scholarships by the end of March, the majority of which came from Axie Infinity.
SubDAOs are customized decentralized autonomous organizations (DAO) for specific geographic locations. Southeast Asia, India, and Latin America currently have three SubDAOs.
YGG is a gaming guild that brings together players from all around the play-to-earn (P2E) community to create cash for the community while also teaching newbies how to succeed through a scholarship programme. Staked YGG tokens and scholarships provide revenue for the guild. Axie Infinity, a nonfungible token (NFT) game, receives the most scholarships among YGG’s 12 partner games.
According to CoinGecko, the guild has farmed 195 million SLP, which is worth around $1.1 million at the time of writing. SLP is a token that can be used to breed Axies, one of the most important hobbies for scholars. According to the report, February was the most profitable month since it began in April, with 25.86 million SLP cultivated.
Through Q1, Yield Guild Games spent $2.5 million on new agreements. P2E game partnerships received 63 percent of the funds, while guild partnerships received 23 percent. The remaining 14% went into expanding the P2E ecosystem’s infrastructure and platform support.
Based on YGG’s growth pace and the amount of cash flowing toward new game development, the future of NFT gaming appears bright. According to data from investment tracker Airtable, approximately $400 million has been invested in early-stage NFT games since April 25.