Scholarship Growth: A Phenomenal Rise
Yield Guild Games (YGG) has reported a spectacular 39% increase in scholarships during the first quarter of 2022. This upswing comes despite the ongoing turbulence in the cryptocurrency markets. These scholarships facilitate players in the popular P2E game, Axie Infinity, allowing them to farm the lucrative Smooth Love Potion (SLP) token.
To dive deeper into the numbers, let’s break it down month by month. January kicked off with a whopping 50.13% growth, followed by February’s 28.8% increase. March wrapped things up nicely with a healthy 41.93% boost—thanks to strategic partnerships and the introduction of SubDAOs. By the end of March, YGG boasted an impressive 29,458 scholarships!
What Are SubDAOs?
Now, you might be wondering what SubDAOs are. Well, these are decentralized autonomous organizations designed to cater to specific geographic regions. As of now, YGG has established three SubDAOs in regions like Southeast Asia, India, and Latin America. Think of SubDAOs as localized heroes in the world of NFTs, bringing gaming benefits closer to the players in their regions.
Revenue Generation: The YGG Ecosystem
Yield Guild Games operates on a simple yet effective model. It pools gamers across the P2E universe to create a revenue-generating community, while offering scholarships to newcomers eager to learn the tricks of the trade. The guild earns its keep via staked YGG tokens and the scholarships it provides.
Notably, Axie Infinity is a star player in the YGG roster; it accounts for the majority of the scholarships spread across 12 partner games. Have you ever wondered how much value YGG is churning out? As of now, they’ve managed to farm a staggering 195 million SLP, which equates to roughly $1.1 million. Furthermore, February turned out to be the most lucrative month, raking in 25.86 million SLP, which gave the guild its highest yields since its launch in April.
Market Trends and YGG’s Position
Despite the market facing a 44% downturn since the beginning of the year, blockchain gaming hasn’t faltered. DappRadar has reported stable user engagement, maintaining around 1.1 million daily gamers. If that’s not dedication, I don’t know what is!
YGG has invested heavily in its future, spending an impressive $2.5 million on partnerships this quarter. A staggering 63% of that went to gaming partnerships alone, with the remaining funds seeking to empower guild and infrastructure relationships. Looks like YGG is preparing for a big leap forward!
The Future of NFT Gaming
With such promising growth from YGG, the outlook for NFT gaming seems brightly illuminated. Since April 25, it’s been reported that nearly $400 million has been funneled into early-stage NFT games. This not only showcases the interest in the sector but hints at vibrant innovations on the horizon.
Currently, the native token for YGG, trading at $0.72, has experienced a significant drop of 12.3% over just 24 hours. In fact, it’s down a staggering 93.6% from its all-time high recorded on November 20. However, if history teaches us anything, savvy investors know that downturns are often a setup for comebacks—so keep your eyes peeled!
