Demand for blockchain games is growing exceptionally, as confirmed by the Yield Guild Games team. The fact is that more and more players want to receive scholarships to make money playing games.
Play-to-earn scholarships thanks to Coinbase
Play-to-earn scholarships are possible thanks to the support of one of the largest companies in the cryptocurrency sector, Coinbase. Gaming scholarships have become a common part of earning gaming, which has seen a massive boom in the Philippines.
In fact, some players in the Philippines earn 5-10 times more than they did from their previous jobs. New homes have been bought, charities have taken place, and even shops accept game tokens as payment.
A scholarship is a temporary rental of playable characters to users who cannot purchase their own character.
There are currently more players wanting #playtoearn scholarships than there are game assets to meet the demand🎓— Yield Guild Games (@YieldGuild) January 11, 2022
Together with our newest Sponsor-A-Scholar partner @coinbase, YGG will be able to onboard more new players worldwide🌎 pic.twitter.com/WXI8yniqt7
The collaboration between Yield Guild Games and Coinbase was to provide more scholarship funding, both in terms of quantity and diversity. This will allow you to support more games.
A key element of this model is that players are lent NFTs with zero downside risk and no need to deposit any capital in advance. In return, they give up 30% of their winnings, but keep most of them.
The games currently include Axie Infinity, Ember Sword, F1 Delta Time, Guild of Guardians, Illuvium, League of Kingdoms, The Sandbox, Splinterlands, Star Atlas and Zed Run.
Treasury of Yield Guild Games consists of tokens and stablecoins held in the wallet, NFT and risky investments in various play-to-earn games. The project was funded by an initial round of $ 1.325 million led by Delphi Digital and another around $ 4.6 million from a16z. They also raised $ 12.49 million from the sale of the YGG token, holding 13.3% of their remaining offering.