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Some part of the article contains own analysis of the writer.
“As you can see, social guilds in esports aren’t new in the market, but what we have here is a totally different community. One of our aims is to provide economic opportunities to the people through play-to-earn and also blockchain.”
This is the explanation of Teresa “Tipxie” Pia, Co-Founder of Real Deal Guild (RDG), during the “The New Business as Usual: How Web3 Revolutionizes Business Opportunities” panel discussion at Makati, Philippines, on how guilds became relevant in the adoption of Web3.
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RDG says it is a social guild which aims to “Play, Earn and Enjoy.” It collaborates with different NFT projects where it believes it can add value with.
According to Tipxie, guilds remain relevant to the market by providing quality information and products that are building during the bear market.
Since non-fungible token (NFT) games were popularized in the country, guilds also arose all over the country. In fact, the Philippines was called “Axie Archipelago” for the number of guilds locally.
When guilds first started appearing in the web3 space, they are an organization that helps gamers who cannot afford to purchase an NFT to start playing NFT games. There is a so-called “Scholarship System,” where a guild will let its scholars borrow the NFTs it has so that scholars can start playing and earning at the same time.
However, according to online data analyzer Active Player, the active players of Axie Infinity as of writing are 701,447, lower than December 2021’s three million daily active users.
Where from the analysis, the number of Axie Infinity daily active players went down as the crypto market went down also.
This is where Tipxie emphasized that guilds are not just in the space to provide scholarships but also help their scholars adjust to the volatility of the market:
“We have to adapt to the market. Crypto market is very volatile and it’s always changing so we have to adapt. If the opportunity is in the play to earn, we will provide play to earn assets to the community, but if the market changes, we have to adapt because we need to survive.”
Some of the known guilds in the country include Yield Guild Games (YGG), which was founded in 2020 by Beryl Li, Gabby Dizon, and Owl of Moistness; Limitless Guild (LLG), which purchased 196,590,297 SLP (Smooth Love Potion), 3,220 AXS (Axie Infinity Shards), 70,000 floor Axies, and 16 Land plots last May; and others.
“With our aim, which is to provide economic opportunities, we will continue to adapt to the market again, and we were looking into providing after the people,” Tipxie concluded.
This article is published on BitPinas: How Guilds Help Community During Bear Market – Real Deal Guild Co-Founder
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.