Blockchain-based gaming companies will require localized strategies for attracting Web3 gamers, according to the the gaming guild decentralized Yield Guild Games (YGG).
Talking to Asian Trade during the 2022 Tokyo Games Show last week, Andy Chou, YGG’s director of ecosystem development along with Brian Lu, partner of Taiwan-based VC firm Infinity Ventures Crypto (IVC) discussed the plans for YGG in the coming years and how it’s making use of its subDAOs.
YGG was first launched within the Philippines in the late 2020s, however, following an investment in the early stages from IVC The two companies teamed together to expand YGG all over the world via subDAOs. Initially, they started with Southeast Asia.
According to YGG definitions, SubDAOs operate as an “specialized, miniature economy that interacts with a larger, all-inclusive economy” under the YGG umbrella. They were first introduced to the YGG ecosystem in July the previous year.
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Many may be able to YGG as a Philippines-based organization which provides scholarship programs that allow players to earn money playing (P2E) games like Axie Infinity The organization is gradually expanding into different countries and regions including India, Japan, Brazil as well as Latin America though the use of subDAOs.
Chou explained the concept of the YGG subDAO in terms of “sort of its own economy, that has its own treasury and its own token” saying that every subDAO is set up with a unique structure and business partnership depending on the country in which it is situated in.
For instance, Chou noted that while the idea of YGG scholarships, where players given NFT assets to ensure they can earn through games has been a significant factor in the adoption of web3 gaming in the Philippines However, he does not see it as being crucial to YGG Japan.
In contrast, Chou suggested that tapping the vast list of adored Japanese “gaming IP” is the most effective method to bring players into Web3 game in Japan Lu, on the other hand, Lu said that they’re focusing upon “helping market Japanese games” instead of offering scholarships to Japanese players. He said:
“Japanese IPs” are something everyone wants. […] There are [companies such as Sega, Bandai Namco, every gaming company wants to change direction and join Web3.”
When asked what Chou believes is hindering Web3 gaming from widespread adoption Chou explained that the process of onboarding is still a tangled procedure for new players and this is something they YGG Japan subDAO has recently begun to work on.
On September. 16 YGG Japan announced the formation of a partnership together with IVC along with web3-based tech company KryptoGO to create a specific wallet for blockchain players. While the details weren’t clear within the press release, the three intend to design a more user-friendly interface for players to access blockchain-based games and store all their accounts in one location.
Chou added that other obstacles included ignorance about the significance of NFTs represent, since some critics continue to argue that these assets are useless because they are able to click right and then save NFTs related artwork.
“That whole process of getting onboarded, when it becomes smoother, will to attract more people. I would imagine it’s even more at the educational [levelsimply outlining how to own an item that is digital. In contrast to thinking “oh, I could simply copy this and have it. ‘”
“Having that digital ownership ” of these digital items. It’s a concept that hasn’t been explored. As the world gets increasingly digital, I believe it’s the place where most things are headed,” he added.
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YGG was co-founded in the year 2020 with Beryl Li who is blockchain engineer @OwlOfMoistness as well as Gabby Dizon, who is Gabby Dizon is also one of the founders of Oasys that is currently scheduled to start a gaming-related blockchain later in the year.
In June, YGG’s global network around the world had more than thirty thousand students. To loan their NFTs YGG provides 70% of the in-game profits to players, 20 percent to scholarship managers, and the remainder is given to the subDAO that has been selected.
