Wednesday, February 19, 2025

Yield Guild Games Introduces Onchain Guilds to Enhance Web3 Community Engagement

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KEY TAKEAWAYS

  • Yield Guild Games introduces Onchain Guilds to enhance web3 guild organization and reputation.
  • Onchain Guilds empower communities to explore economic opportunities and earn rewards through blockchain activities.
  • YGG’s questing initiatives and soulbound tokens play a crucial role in building web3 reputations for guilds.
  • The YGG Guild Protocol supports guild growth and sustainability, exemplified by Axie University’s expansion.

Yield Guild Games (YGG) has announced a significant evolution in its guild model by introducing Onchain Guilds, a new framework that allows web3 guilds to leverage YGG’s infrastructure. This initiative aims to enable guilds to organize themselves on the blockchain, thereby enhancing their web3 reputation and uncovering rewarding activities that align with their skills.

Onchain Guilds, or ‘OGs,’ are designed to empower web3 communities to explore economic opportunities collectively. According to YGG’s recently published Concept Paper, these guilds will form the foundation of YGG’s future efforts. Built on the YGG Guild Protocol, Onchain Guilds serve as a web3 primitive, providing the building blocks for guilds across the ecosystem. This structure allows guilds to explore, play, and earn rewards while benefiting from the flexibility and scalability that Onchain Guilds offer.

Building Web3 Reputation Through Questing Initiatives

YGG’s questing initiatives, such as the Guild Advancement Program (GAP) and Superquests, play a crucial role in establishing a web3 reputation for Onchain Guilds. By participating in these programs, guilds can attract members with aligned skills and interests, demonstrating their qualifications to YGG’s partner projects.

Central to the web3 reputation of any Onchain Guild are YGG-issued soulbound tokens (SBTs). These non-transferable achievement badges function similarly to web2 cookies, offering reward-earning opportunities instead of targeted ads. SBTs enable YGG to recognize and reward top performers and active contributors, connecting them to a network of over 100 partners.

Components and Opportunities of Onchain Guilds

Onchain Guilds consist of three core components: the guild itself, the assets it owns, and its onchain activities. These elements create a virtuous cycle for members, where the value of assets is derived from their utilization in onchain activities, forming the basis of a guild’s web3 reputation.

The YGG Guild Protocol equips guilds to grow and become self-sustaining. An example is Axie University (AxU), one of the first guilds formed within YGG. Initially a small group, AxU expanded into other web3 games with YGG’s support, maximizing assets like Pixels land for rewards.

YGG’s transition into a Guild Protocol opens up a range of opportunities for gamers and guilds, as well as the broader web3 community. The vision of an open web3 ecosystem is becoming more attainable, with Onchain Guilds acting as a bridge for builders to access web3 communities centered around shared interests and activities.

For more details on Onchain Guilds and their benefits, the YGG Guild Protocol Concept Paper can be accessed here.


Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.
Neel Kapoor
Neel Kapoor
Neel Kapoor is a dedicated cryptocurrency enthusiast and blockchain expert at Coinsholder.com. With over a decade of experience, Neel offers insightful analysis and commentary on the latest trends and innovations in the crypto space. His clear and concise writing makes complex topics accessible to all readers.

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