86% of YGG’s Sponsored Scholars Used Crypto for the First Time

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Through the Sponsor-a-Scholar Program, play-to-earn gaming guild Yield Guild Games (YGG) conducted a survey from September to December 2021 to over 230 scholars from different countries to gauge their progress and measure the impact of the program on their daily lives.

The Sponsor-a-Scholar program allows YGG and other organizations to help increase the positive impact of play-to-earn games by contributing funds to cover the cost of the non-fungible token (NFT) assets needed by a scholar to play.

The survey revealed that 86% (more than 190) of the scholars were oblivious to cryptocurrency before their scholarship. Scholars admitted that playing blockchain games and earning cryptocurrency rewards through the program was their first time using crypto.

Through the scholarship program, YGG stated that they prioritized providing scholarships in “emerging economies where job opportunities are lacking and government relief has been limited.”

According to them, this is a new income-earning opportunity for people all around the world, especially in growing markets where economies are still recovering from the impact of the COVID-19 pandemic.

FTX—a cryptocurrency exchange representative and Sponsor-A-Scholar benefactor—noted how YGG has created a “truly unique way for new audiences to get onboarded to crypto through gaming.”

“Seeing the growth of first-time crypto users and the program providing life-changing opportunities to people in need is something that aligns with our own goal of effective altruism.”

– FTX

YGG’s Sponsor-a-Scholar program started last May 2021. It aims to partner with different entities to provide funds to support scholars from the Philippines, Brazil, Peru, Indonesia, Venezuela, and India. Currently, the sponsors of the program are NFT Whale Flying Falcon, Leaping Corgi of the Atelier Ventures co-founder Li Jin, and cryptocurrency exchange FTX. The program would allow more scholars to start playing and earning with the play-to-earn game Axie Infinity.

Last month, US-based cryptocurrency platform Coinbase also joined the program and became the latest benefactor of YGG scholars. (Read more: YGG to Sponsor-a-Scholar with Coinbase)

In the Philippines, where 63% of YGG’s scholars are situated, Axie Infinity was considered a game-changer in the lives of the many Filipinos, especially this pandemic where a lot were left jobless. (Read more on: This Documentary Perfectly Captures the Play-to-Earn Phenomenon in the Philippines)

On the other hand, YGG disclosed  last December,  that its first regionally-focused subDAO (Decentralized Autonomous Organization), Yield Guild Games Southeast Asia (YGG SEA), has raised US$15 million across two rounds of fundraising to support adoption of play-to-earn gaming in Southeast Asia. (Read more:  YGG’s First SubDAO Raises US$15M in Private Rounds, to Focus Exclusively on Southeast Asia)

This article is published on BitPinas: 86% of YGG’s Sponsored Scholars Used Crypto for the First Time

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[…] This article is published on BitPinas: 86% of YGG’s Sponsored Scholars Used Crypto for the First Time […]

[…] This article is published on BitPinas: 86% of YGG’s Sponsored Scholars Used Crypto for the First Time […]