It’s been quite a while since we’ve heard anything of significance from Guild of Guardians. Now they come to us with a new NFT staking program, allowing NFT owners to earn GOG tokens by holding their NFTs and engaging with the Guild of Guardians ecosystem.
Once one of the most-hyped projects in the web3 gaming scene, Guild of Guardians has lost much of their fame. Continued delays, missed deadlines, and little in the way of meaningful updates have pushed this game into the background for many players. Now they try to regain some of that attention with a new NFT staking program that began on June 13th.
Overall, Guild of Guardians plans to distribute two million GOG tokens to three different groups of holders.
Hold NFTs to earn GOG tokens
In order to be eligible for staking rewards, NFT owners must hold their NFTs on an IMX-connected wallet. The staking program will run in two epochs. The first began on June 12th and runs through September 2nd. To earn rewards you must hold the Guardian NFTs in your wallets for the entire epoch. Since this epoch already officially started a month before it was ever announced, buying Guild of Guardian NFTs now won’t provide any rewards in epoch one. However, there will be a second epoch running from September 6th through December 5th.
The second eligibility requirement involves engaging with the Guild of Guardians ecosystem in at least one of three ways — trading GOG NFTs, increasing their number of GOG tokens they hold in their IMX connected wallet by at least 1, and voting on a governance proposal. Since governance isn’t yet implemented, users are stuck with the first two options for now.
Reward calculations are based on the number of NFTs held. Original sale price for the NFTs, and rarity are also factors. Additionally, there is a multiplier for holding the NFTs for a year or more — up to 5x for holding NFTs for over two years! Rewards come from a shared pool, with tokens handed out based on the proportion of the staking points earned among all eligible users.
In addition, Guild of Guardians plans to distribute retroactive rewards for their long-term holders. The wording in the blog post is a bit confusing. But it seems that anyone who held any GOG NFT between January 1st, 2021 and June 12, 2023 will be eligible. They must also have bought or sold GOG NFTs at least twice during that time period. These rewards will be distributed at the end of September.
You can read the official blog post for more details.
What is Guild of Guardians?
Guild of Guardians is a cooperative, fantasy, action, dungeon crawler game, currently in development on the Ethereum blockchain. Players gather in groups of four to enter dungeons, battle monsters, defeat dangerous bosses, and walk away with experience and treasure. The game will use NFTs for all of its heroes, items, and pets. Guild of Guardians is taking a mobile first approach for their game.
Guild of Guardians already has NFTs available on secondary markets and also launched their token, GOG. NFTs can be traded on Immutable X and Token Trove. The token, Guild of Guardians Gems (GOG), can be found on all the ETH DEXs.
The game will feature a rewards pool for GOG token staking that is filled from token usage in-game. Guild of Guardians will also include Pets, Guilds, and Raids, with future plans for land ownership, user created dungeons, and incorporation into eSports. In fact, GoG has already made several partnerships with eSports teams.
Guild of Guardians will be free to play, but those who own NFTs will have various advantages when playing.