The blockchain-based gaming industry needs to address localized strategies to attract Web3 gamers, says decentralized gaming guild Yield Guild Games (YGG).
Speaking to Cointelegraph at last week’s Tokyo Games Show 2022, Andy Chou, YGG’s head of ecosystem development, and Brian Lu, partner at Taiwan-based venture capital firm Infinity Ventures Crypto (IVC), gave an overview of YGG’s plans for the future, including how it uses its subDAOs.
YGG originally launched in the Philippines in late 2020, but following an early-stage investment by IVC, the duo joined forces to expand YGG via subDAOs globally, initially in Southeast Asia.
In YGG terminology, SubDAOs function as “a specialized miniature economy that interacts with a larger, overarching economy” under the umbrella of the YGG. They were introduced to the YGG ecosystem in July of last year.
While many may associate YGG with its Philippines-based company that offers grant programs for play-to-earn (P2E) games like Axie Infinity, the guild has gradually expanded to other countries and regions like India, Japan, Brazil, and Latin America expands America through the use of subDAOs.
Chou described the idea of a YGG SubDAO as “sort of a separate economy that has its own treasury and token,” adding that each SubDAO has different structures and business partnerships depending on the country in which it is located.
For example, Chou noted that while the concept of YGG grants — where gamers lend people NFT assets so they can earn from games — was a major driver of Web3 gaming adoption in the Philippines, he wasn’t necessarily looks to be relevant in connection with YGG Japan.
Instead, Chou suggested that tapping into the long list of popular Japanese “gaming IP” is the best way to attract people to Web3 games in Japan, while Lu confirmed that they are focused on “marketing Japanese games.” , instead of offering scholarships there. Specification:
“Japanese IPs are something everyone covets. […] You have [companies like] Sega, Bandai Namco, all of these gaming companies want to make a switch and get into Web3.”
When asked what Chou thinks is currently holding Web3 games from mainstream adoption, he explained that the onboarding process for new users is still a complicated process, something their YGG Japan SubDAO recently addressed.
On Friday, YGG Japan announced a partnership with IVC and Web3 technology company KryptoGO to develop a wallet specifically aimed at blockchain gamers. While details in the announcement were sparse, the trio aim to create a simplified interface for users to access blockchain games and host all of their assets in one place.
Chou said other obstacles are a lack of knowledge of what non-fungible tokens (NFTs) represent, as many critics still argue that the assets are worthless since they can simply right-click and save the NFT’s associated artwork :
“This whole process of easy onboarding, once that becomes smoother, will help attract more people. I even think about the upbringing [level], just to explain what it means to actually own a digital object. As opposed to “Oh, I can just copy this and get it.”
“Having digital ownership of these digital assets. It’s something that just hasn’t really been explored. But as the world becomes more digital, I feel like there’s a lot of things moving there,” he added.
Related: Bandai Namco, SEGA among gaming giants eyeing blockchain gaming
YGG was co-founded in 2020 by Beryl Li, blockchain developer OwlOfMoistness, and Gabby Dizon, the latter also being a founding member of Oasys, which is expected to launch a gaming-focused blockchain later this year.
As of June, YGG’s global network numbered more than 30,000 scholars. For lending their NFTs, YGG offers players 70% of the in-game earnings, 20% to the grant managers, and the remaining 10% goes to the respective subDAO.
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