Every story has its beginning, often marked by a memorable scene or a unique setting.
For the world of Web3 gaming in the Philippines, that defining moment unfolded in homes across the nation during the pandemic. Students and workers, restricted by lockdowns, stumbled upon a way to earn and create value together.
What started as a fusion of gaming and cryptocurrency evolved into a cultural phenomenon that captivated the nation.
As we fast forward to late 2024, the landscape has matured significantly from its humble beginnings of play-to-earn ventures.
While the initial frenzy may have subsided, a more substantial foundation has been established. The Philippines, serving as the epicenter of this experiment in digital economies, has solidified its position as the most engaged market for Web3 gaming globally for three consecutive years.
Trailblazers Over Time
Yield Guild Games (YGG), the trailblazer behind the guild model that united thousands of gamers into communities, is now expanding its vision beyond the realm of gaming.
In an exclusive interview with Decrypt, Gabby Dizon, the CEO of Yield Guild Games, exudes confidence as he reflects on the journey of turning a bold idea into a full-fledged movement.
“Guild communities have always been at the core of YGG since its inception,” Gabby Dizon explains. “We began with Axie and the scholarship program, then broadened our horizons to encompass other games, introducing questing and reputation systems.”
It was through this initial framework that YGG conceived Onchain Guilds, a platform empowering collectives to establish and manage their reputation through verifiable blockchain records of their contributions and achievements.
Whether you’re a gaming team, an artist, or a group of content creators, the platform equips you with the tools to monitor contributions, oversee shared assets, and access opportunities within YGG’s extensive network of partners.
Think of it as a fusion of LinkedIn and Discord, but with tangible evidence of your accomplishments.
“The reputation is recorded on-chain for all to see,” Dizon emphasizes, highlighting how groups can now construct traceable narratives of their successes. “It’s embedded in your wallet, ensuring ownership by you rather than a social network or any other platform.”
Foundation Establishment
The Web3 guild protocol announced at the YGG Play Summit that its Onchain Guilds platform will debut on Base, Coinbase’s Ethereum Layer-2 network.
Engineered to enhance transaction speed, reduce costs, and uphold the security and decentralization of Ethereum, Base leverages the Optimism Stack. This Layer-2 solution streamlines the deployment of decentralized applications, enabling users to engage with the Ethereum ecosystem at a considerably lower cost.
These advancements hold particular significance in the Philippines, where Web3 gaming transcends mere leisure to emerge as a potent economic force and livelihood for individuals earning annual incomes ranging from $3,000 to $12,000.
For three consecutive years, the nation has dominated global rankings for Web3 gaming interest, boasting a remarkable 96% awareness of cryptocurrency, as indicated by research from ConsenSys. Through YGG Pilipinas alone, the community encompasses 1.2 million members across various social platforms.
And the community is rapidly expanding because YGG’s vision extends beyond gaming, as revealed to Decrypt. Earlier this year, YGG introduced its Future of Work division, exploring how these tools could empower freelancers, content creators, and even AI data labeling teams to organize and establish reputation collaboratively.
“People are now engaging in activities like data labeling for AI firms, contributing data for deep neural networks that enable them to earn,” he elaborates. “I believe that a significant portion of online transactions will eventually transition on-chain.”
Base’s decision to culminate its global tour in Manila underscores the Philippines’ role as a pioneering Web3 market. The platform’s “buildathons” have sparked enthusiasm in emerging economies, where digital ownership and verifiable credentials are hailed as transformative.
Digital Collaboration
For community members actively involved in the Guild Advancement Program, YGG offers staking as a means to enhance questing rewards, with plans to introduce broader participation mechanisms linked to casual gaming by early 2025, as per insights shared with Decrypt.
Reputation, Dizon asserts, lies at the heart of human interactions. Whether in the realm of Web2 or offline, how individuals or groups are perceived is often shaped by their actions and achievements.
Drawing a parallel to traditional sports teams, Dizon illustrates the concept of reputation within Onchain Guilds.
“Consider the L.A. Lakers; they possess a distinct reputation. While their roster has evolved over the years, the team itself upholds its reputation through collective achievements like winning championships and maintaining a winning record,” he explains.
The launch of Onchain Guilds on Base signifies not just a product debut but a pivotal moment for Web3 communities. As Dizon aptly articulates, with the optimism of someone witnessing the future unfold before their eyes, “This marks a natural progression of our mission.”
Dizon envisions Onchain Guilds as a platform that fosters digital communities, enabling them to earn and create value collectively through blockchain technology.
Edited by Sebastian Sinclair
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