GuildFi has taken on the task of changing the gaming industry just as it has reached its peak in terms of popularity. Its alternative to the traditional gaming industry involves an interconnected ecosystem of Web3 games that function on the blockchain and utilize the potential of NFTs.
This ecosystem also encourages collaboration between gamers through guilds. And, as some of these games become more competitive, GuildFi encourages gaming scholarships.
It’s a tall order, no doubt, but one that already has plenty of fans who are not seeing the changes that they’d expect from big gaming studios. Blockchain games, on the other hand, bring with them an interest in decentralization, greater asset ownership, and transparency.
Just what is the potential of Web3 games at present? Is GuildFi a project you should pay attention to? We’ll be trying to answer these questions and more in the following article.
What is GuildFi (GF)?
GuildFi (GF) can be best described as a digital environment for blockchain games. While the projects hosted on GF fit into various gaming categories, they are linked by a few common elements.
Firstly, all of the games are designed as Web 3-compatible applications. In other words, they are all created for what has been dubbed to be The Internet of the future.
All of the games embrace the concept of decentralization, and all of them run on a blockchain network. And, very importantly, they use in-game digital assets that are also recorded on the chain. The introduction of these NFTs allows users to have ownership over the items that they use inside of these games.
GuildFi, as the name suggests, also puts heavy emphasis on the concept of guilds, groups created by players with the purpose of supporting other gamers. Most notably, these guilds offer so-called scholarship programs. Through these, novice users get the help that they need to get started with a particular game.
This assistance regularly comes in the form of non-fungible tokens that are leased out to them.
How does GuildFi work?
The concept of guilds is fundamental to understanding the way that GuildFi functions. While numerous blockchain gaming projects are focused on advancement in a particular area, GF is aiming to become an all-encompassing gaming platform for blockchain, in which new users receive support for a variety of games.
This idea is best understood by taking a look at how guilds appeared and what issues they presented. These types of organizations started emerging in 2021, just as the play-to-earn games were gaining traction. These guilds, or clans, as they are sometimes called, became necessary once games like Axie Infinity began being too expensive for novice users to join.
The system of scholarships began emerging through which wealthier gamers began lending out items to less prosperous users. This allowed borrowers to engage with the game and attempt to earn a profit for themselves after factoring in their loans.
The concept may have been sound, but it had its limitations. There was no interoperability between games. Users were consigned to one guild within one game.
GuildFi aims to change all of that. Through its function of Guild Discovery, users are able to access an aggregator of available scholarships. They can also use the Game Discovery function through which games are curated and presented in an aggregate form. Or, they can take advantage of the Proof-of-Play functionality that provides additional rewards based on a player’s performance across the ecosystem.
In other words, GuildFi makes it easy to access guild gaming organizations across a variety of games and improves the potential of earning significant rewards.
Scholarships are programs offered by guilds. These are designed to help users get started with a game. Essentially, the guilds loan out in-game assets that can be used by new users.
Those that borrow the NFTs are referred to as scholars. The rewards that they earn when playing the games are split with the guild that has loaned them the assets.
Scholars are, therefore, able to start earning from a game without incurring significant costs. This also benefits the guild and helps nurture a more robust gaming community.
How to make money as a scholar
Becoming a scholar for GuildFi, like with many other gaming guilds, is not always a straightforward process. Play-to-earn scholarships are in much greater demand than there is supply, with players from all over the world looking to win a scholarship. Often, these programs have secretive and convoluted processes for applying for scholarships that involve some mix of being active in Discord, attending community events, and achieving certain ranks in play-to-earn games.
Not to fear though, we have ventured deep into these communities and we have a step by step guide below on how to become a scholar with GuildFi.
*Please note that due to the dynamic nature of scholarship programs, the below instructions are current as of the time of this writing but are subject to change often. For more support with the process, join GuildFi’s official Discord and Telegram groups.
GuildFi scholars are referred to simply as “Players”. This is due to GuildFi’s unique system of making games that traditionally require payment free to play for the players in their ecosystem. To become a Player, follow the steps below:
Step 1: Visit the Marketplace on the GuildFi website.
Step 2: Here, under the “Player Tickets” section you will be able to see all games currently available to play as a GuildFi Player
Step 3: You will notice that, in order to get started with each game, a certain amount of GXP (GuildFi’s native currency) is required. For example, for Axie Infinity, there is currently a requirement of 300 GXP to get started.
Step 4: Thankfully, there are several ways to receive free GXP and start playing. The first step is to register for the GuildFi website using the blue “Register” button in the top right hand corner.
Step 5: Once you are registered and signed in, you will need to connect your wallet in order to receive GXP. Do this by navigating to the “Wallet” icon in the top right hand corner and following the instructions.
Step 6: Once your wallet is connected, navigate to the “Quests” section in the top right hand corner (it’s a map icon) to view the quests available to earn GXP.
Step 7: On the quest page, you will see that you can earn free GXP through tasks such as connecting your wallet, syncing your Twitter and syncing your Discord. You can already “claim” your first 210 GXP for just registering, connecting your wallet, and saying hello to the GuildFi ecosystem! Connect your Twitter and Discord to receive an extra 200 GXP, allowing you to start playing your first game!
Step 8: The GuildFi Daily Quest provides 10 GXP every day, while the other quests are one-time bonuses of 100 GXP. You can accumulate enough GXP to play all the GuildFi games by claiming the daily quest each day.
Step 9: Once you have enough GXP, return to the “Marketplace” page, select the game you would like to start playing, and click “Purchase” to become a GuildFi Player for that game!
How to make money as a manager
In most guild communities, managers are recruited from the existing pool of participants. Community members who are active in the guild, participate in Discord events, and provide help and value to other community members are most likely to be considered for competitive roles such as managers.
Of course, having a background in managing employees or with other similar programs is a big plus. GuildFi has a form they use to intake partner requests from other projects and investors. Those interested in managing GuildFi scholars can detail their request through this form and submit it to be considered. Having a track record with other projects and being active in the GuildFi community is a helpful prerequisite.
Pros and cons of GuildFi
- GuildFi offers an aggregator of guilds across a variety of games
- The games included in the ecosystem are carefully vetted by the platform
- Players can earn additional GXP points and NFTs
- The games that GF supports face competition
- It includes only around 20 games at the moment
- The platform could include more information about GF’s goals and vision
GuildFi offers an aggregator of guilds across a variety of games
The concept of guilds, or clans, sits at the heart of the GuildFi project. They have been able to aggregate these types of player organizations in a way that encourages users to try games across the ecosystem. Ideally, this makes it easier for novice players to start playing more popular games featuring pricier NFTs.
The games included in the ecosystem are carefully vetted by the platform
In order for the gaming ecosystem to function, it is crucial to create the potential for genuine interoperability. While the games generally run on different blockchains, they are linked by the guilds. These offer support across a number of games. Overall, this makes it easier for a player to get involved with a number of games. It is similar to the way that gaming consoles create an interlinked environment for the titles that they support.
Players can earn additional GXP points and NFTs
GuildFi looks to encourage players to be active across the ecosystem. For this reason, they have introduced some clever rewards for consistency. Frequent users can earn experience points, dubbed GXP. Furthermore, these GSP points allow them access to better NFTs, bonuses, airdrops, and other cool additional features.
The games that GF supports face competition
GuildFi does an excellent job of curating games that represent its project well. However, most of these games require a substantial investment, or a scholarship, in order to get involved. However, a number of popular free games that embrace a play-to-earn model are available.
It includes only around 20 games at the moment
The platform is growing. And, yes, many of the titles included on the website have achieved a reasonable degree of popularity. Still, there are only 20 games available at the time of writing. Users will hope that the list expands soon.
Furthermore, you will need to be whitelisted, and many of the features aren’t yet available.
The platform could include more information about GF’s goals and vision
It is true that the platform is simple to use. However, GF’s motives and the way in which the system functions could be better explained and in more detail for users just joining the site.
GuildFi was introduced to the public in October 2021 and was founded by Jarindr Thitadilaka, Gazinpoj Techahuasingh, Sirasith Sopasilapa, and others, all of whom had experience in NFT-space.
Their vision was to create an ecosystem of games meant to encourage interoperability across the metaverse. GuildFi raised $6 million in seed funding and an additional $139 million through their token launch
While GF currently has only 20 games listed, these titles have gained significant popularity across the crypto space. At the moment, the most attractive titles for gamers are:
- Price $0.141
- Market Cap
In December 2021, GuildFi introduced its very own token, the GF token. $GF was issued in a fixed supply of one billion units. The token is used across the ecosystem of play-to-earn games. The token is also used in the governance process for staking and can help unlock various bonuses.
Users can stake their GF tokens. GuildFi has endorsed a time-locking staking strategy. Gamers need to stake their tokens for a set period of time in order to accrue yield.
At the time of writing, GuildFi staking offers an APR of 228.13%. More than $8 million are staked.
How to buy GuildFi tokens
The $GF token is relatively popular and, thus, can be purchased and traded across a number of platforms. It is available on Huobi Global, Gate.io, OKX, and others.
In order to buy GuildFi tokens, typically, users need to:
Step 1: Register with the crypto exchange that has listed GF and pass the platform’s unique KYC process.
Step 2: Purchase GF using crypto and store it in the platform’s crypto wallet.
How to get started
Getting started with GuildFi is, generally, a seamless process. Here are the steps that you will need to follow:
Step 1: Head over to GuildFi’s website and register for an account
Step 2: Verify your email, and enter your OTP code
Step 3: Link your crypto wallet (e.g., MetMask), your Discord, and/or your Twitter account, and wait to be whitelisted
Step 4: Enjoy the features currently available
add remove What is the price of GuildFi?
$GF, GuildFi’s native token, is currently valued at $0.22.
add remove What is the best exchange for GuildFi?
add remove How many GuildFi coins are in circulation?
One billion $GF tokens have been issued. Over 42 million tokens are currently in circulation.