Quick Take:
- Blockchain gaming platform Yield Guild Games (YGG) helped raise more than P12.5 million in donations during the weekend.
- The play-to-earn gaming platform was donating to the victims of Typhoon Odette in the Philippines.
- The donations were in the form of Ethereum, Axie Infinity’s SLP and AXS, and the US dollar-backed USD Coin.
Filipino play-to-earn platform Yield Guild Games (YGG) this weekend helped raise more than P12.5 million, approximately $250,000 in cryptocurrency donations this past weekend. The money was raised for the victims of Typhoon Odette, which swept large parts of the Philippines last week. Since then, Typhoon Rai has taken over adding to the death toll.
According to the country manager for the Guild, Luis Buenaventura, the platform helped to raise P10 million by Saturday evening, with the amount rising to $12.5 million, by Monday afternoon, local time, Rappler report.
The fundraising started Friday morning, mainly via cryptocurrency wallets, coming in in form of Ethereum, Axie Infinity’s SLP and AXS, and the US dollar-backed USD Coin, raising more than P3 million within an hour.
The Yield Guild Games has been involved in charitable events previously, with its founders heavily involved in trying to help more people get into Blockchain gaming. Last year, at the height of the pandemic, the platform helped Filipinos create another source of income by playing games to make money.
The decentralised autonomous organization’s (DAO) founder and Axie Infinity gamer, Gabby Dizon, started to lend fellow Axie infinity players that did not have money his Axies, thus sparking the formation of a global network of players and investors willing to help others started with NFT games.
The platform lends Axie Infinity teams in a scholarship set up, after which the players take 70% of earned cryptocurrencies, with the balance going to the Guild.
In one of our recent reports, YGG participated in MonkeyBall’s blockchain gaming funding round alongside Alameda Research and Draftking’s venture capital arm DRIVE.
The blockchain gaming space has sparked interest from the mainstream after Facebook, now Meta, founder Mark Zuckerberg popularised the term after putting its social media platforms under one holding company Meta.
Since then, the industry has attracted celebrities, mainstream video game companies and real estate technology platforms to form what industry experts call the future of the internet, Web3. Yield Guild Games’ latest charitable act is in a long list of previous acts centred on bringing more people to the metaverse.
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