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ED3N Ventures: The Future of Gaming Guilds
In this panel discussion, YGG co-founder Beryl Li speaks with other Web3 pioneers working in emerging markets about where the gaming guilds space is going.
During EthCC week in Paris, France, last July, ED3N Ventures, a leading Web3 venture studio dedicated to building projects that enable the open Metaverse, organized a series of panels to talk about the potential of emerging markets in the Web3 and Metaverse space. The event was co-presented by YGG and Emfarsis.
In the first panel, titled “Web3 Gaming’s Impact on Emerging Markets,” YGG co-founder Beryl Li, Emfarsis director, CoinDesk columnist and panel moderator Leah Callon-Butler, Emfarsis director Nathan Smale, Coins.ph co-founder and CEO Ron Hose, and Liquid Meta co-founder and COO Nico Del Pino, talk about how blockchain games have changed the lives of people in emerging markets.
The following is an excerpt from the discussion. You can watch the full panel here.
Leah (33:23): We've talked a lot about how quickly this technology is being adopted and how great the impact has been. But because it's moving so fast, I'm wondering, what do you think is going to happen next? I'd love to hear from all of you in terms of where you think this space is going next.
Beryl, do you want to kick us off? From a guilds perspective, what do you think is next for the guild model, which, literally two years ago, the decentralized gaming guild didn't even exist and you kickstarted this entire phenomenon. Where is it going?
Beryl (33:37): Something different that guilds have done today is that — it's usually those that can afford to buy crypto that's actually in crypto. And the ones profiteering are the whales that are able to purchase a number of these governance tokens and they get to participate early.
But what about those in emerging markets? This is where guilds came in, like YGG and Ola GG. We have all these gaming assets that we send out so they don't have to purchase them or if they can't afford to purchase them. They can just borrow them with a reward share and it lowers the barriers to entry into Web3.
Apart from that, it changes being able to purchase your way in versus real meritocracy. Because in gaming, you have to spend your time, you need to have certain skills, you need to be able to navigate the game and earn your in-game rewards.
Most guilds are structured as a decentralized autonomous organization where you have these tokens, and a portion of that is given out to your community. They have to earn it by participating in particular games and spending more time in them. If you level up your skills, then you get rewarded. So there's a way to earn these in-game rewards, rather than buying out from the open market. I feel that's how guilds are different from the traditional Web2 space.
You can watch the full panel on YouTube.