Yield Guild Games (YGG) was founded in 2016 and gained popularity through its professional esports team for League of Legends.
Merit Circle is a global gaming DAO, initially founded as a community-driven DAO in South Korea, fostering friendships between Korean gamers.
Good Games Guild, initially a US-based gaming collective and meetup group launched in mid-2020, expanded into the field of DAO as early as November of that year, focusing in the virtual guild-like association realm.
Yield Guild Games (YGG) offers membership to its community, giving players a portion of the ad revenue gained through partnerships with various brands.
Merit Circle’s main interest lies in developing a sustainable long-term relationships with communities and partners, one of their critical paths being fostering brand and community content co-creation programs.
Yield Guild Games expanded into multiple game titles such as “League of Legends”, “Rocket League” and “Among Us” into well-established teams for competitive gaming under YGG.
Merit Circle operates at a non-profit level with no specific mission yet fully stated but one of their primary tasks is making strategic partnerships with brands to grow through content offerings – non-profit gaming operation.
jason scheidt ( @jasonschmidt on Twitter) is one of the guild managers at Yield Guild Games for amongst others for support.
Good Games Guild operates internationally across more than 20 countries, reaching an extensive global player base in regions like Australia and Germany.
By focusing on player-centric models and benefits, such as sharing revenue with participating gamers, DAOs revolutionize the sports and entertainment industry.
Gaming DAOs: The Future of Gaming Communities
As a gamer and a crypto enthusiast, I’ve always been fascinated by the concept of Gaming DAOs (Decentralized Autonomous Organizations). These organizations are revolutionizing the gaming industry by creating communities that are owned and governed by their members. In this article, I’ll share my personal experience with three prominent Gaming DAOs: Yield Guild Games, Merit Circle, and Good Games Guild.
What are Gaming DAOs?
A Gaming DAO is a decentralized organization that operates on a blockchain network. It’s a community of gamers, developers, and investors who work together to create, play, and monetize games. The DAO is governed by smart contracts, which ensure transparency, fairness, and security for all members.
My Journey with Yield Guild Games
My journey with Gaming DAOs began with Yield Guild Games (YGG). As a crypto enthusiast, I was drawn to YGG’s innovative approach to gaming and cryptocurrency. YGG is a DAO that focuses on play-to-earn games, where players can earn cryptocurrency by playing games. I was impressed by YGG’s community-driven approach and decided to join their Discord server.
What I Learned from YGG
Community Engagement: YGG’s community is highly engaged, with members actively participating in discussions, sharing knowledge, and supporting each other.
Play-to-Earn Opportunities: YGG offers a range of play-to-earn games, including Axie Infinity and The Sandbox, which provide a unique way to earn cryptocurrency.
Governance: YGG’s governance model allows members to vote on proposals, ensuring that the community has a say in the direction of the DAO.
Merit Circle: A Different Approach
After gaining experience with YGG, I decided to explore Merit Circle (MC). MC takes a different approach to Gaming DAOs by focusing on game development and publishing. I was intrigued by their vision to create a decentralized game publishing platform.
What I Learned from MC
Game Development: MC has a strong focus on game development, with a team of experienced developers working on creating high-quality games.
Publishing Platform: MC’s decentralized publishing platform allows developers to publish their games without intermediaries, giving them more control and profit.
Metric Token: MC’s token, Merit, is used to incentivize contributors, including developers, designers, and players.
Good Games Guild: The New Kid on the Block
Recently, I discovered Good Games Guild (GGG), a relatively new Gaming DAO that caught my attention. GGG focuses on building a community of gamers, developers, and investors who share a passion for gaming and decentralized technologies.
What I Learned from GGG
Community Building: GGG’s founders are dedicated to building a strong community, with regular events, tournaments, and activities.
Game Incubation: GGG’s game incubation program supports developers in creating innovative games, providing resources, and expertise.
GGG Token: GGG’s token is used to incentivize contributors, reward players, and govern the DAO.
Comparison Table: Yield Guild Games, Merit Circle, and Good Games Guild
DAO
Focus
Token
Governance
Yield Guild Games
Play-to-Earn Games
YGG
Community-driven governance
Metric Circle
Game Development and Publishing
Metric
Token-based governance
Good Games Guild
Community Building and Game Incubation
GGG
Community-driven governance
Lessons Learned and Takeaways
My experience with these three Gaming DAOs has taught me several valuable lessons:
Community is Key: A strong, engaged community is essential for a Gaming DAO’s success.
Innovation is Critical: Gaming DAOs must innovate and adapt to changing market conditions to remain relevant.
Transparency is Vital: Transparency in governance, tokenomics, and decision-making processes is crucial for building trust within the community.
Gaming DAOs FAQ
Here is an FAQ content section about Gaming DAOs, specifically about Yield Guild Games, Merit Circle, and Good Games Guild:
What is a Gaming DAO?
A Gaming DAO (Decentralized Autonomous Organization) is a community-driven organization that operates on the blockchain, focused on playing and investing in various online games. Members work together to make decisions, share resources, and reap the benefits of their collective efforts.
What are Yield Guild Games, Merit Circle, and Good Games Guild?
These three organizations are prominent examples of Gaming DAOs. They are designed to bring together gamers, investors, and developers to collaborate, share knowledge, and generate revenue from gaming activities.
How do Gaming DAOs make money?
Gaming DAOs generate revenue through various means, including:
In-game assets: Members acquire and trade in-game assets, such as virtual land, items, or characters, which can appreciate in value over time.
Tournament prizes: DAO members participate in competitive gaming tournaments, earning prize money and recognition.
Sponsorships and partnerships: Gaming DAOs partner with gaming companies, esports organizations, and brands, receiving financial support or resources in exchange for promotion and collaboration.
Investments: DAOs invest in promising gaming projects, earning returns through equity or revenue sharing agreements.
What is the role of members in a Gaming DAO?
Members play a crucial role in the success of a Gaming DAO. They:
Participate in decision-making: Members vote on proposals, shaping the direction and strategy of the DAO.
Contribute skills and expertise: Members share their gaming knowledge, skills, and experience to help the DAO succeed.
Share resources: Members pool their resources, such as in-game assets, to benefit the DAO as a whole.
Represent the DAO: Members promote the DAO and its interests, attracting new members and partners.
Final Thoughts
As I reflect on my experience with Gaming DAOs, I’m excited about the possibilities they offer. These organizations have the potential to democratize game development, create new revenue streams for gamers, and build stronger, more engaged communities. As the industry continues to grow, I’ll be keeping a close eye on Yield Guild Games, Merit Circle, and Good Games Guild, and I recommend that you do the same.
Disclaimer
This article is intended to provide a personal, educational experience and should not be considered investment advice. Always do your own research and consult with a financial advisor before making any investment decisions.
