Podcast Summary
In this podcast, Gabby Dizon, CEO and co-founder of Yield Guild Games (YGG), discusses the rise of crypto-based games and the role of YGG in this ecosystem. He delves into the concept of on-chain guilds, the importance of reputation in the gaming world, and the potential of crypto to unlock economic opportunities in virtual worlds.
Key Takeaways
Yield Guild Games: A New Era of Gaming
- YGG’s Role: Yield Guild Games (YGG) is an ecosystem of crypto-based games, including Axie Infinity and others, running on the Ronin chain. YGG was created to organize and match NFT owners and gamers, allowing players to earn and own assets in the games.
- Expansion: YGG expanded to work with other games based on community interest and started buying assets in those games to offer to their community.
- YGG token: The YGG token (Y) serves as an access pass to different things in the YGG ecosystem, including free and premium quests.
Onchain Guilds: The Future of Labor
- Onchain Guilds: YGG is developing an on-chain guild system that will provide tools for other guilds to create their own reputation systems and quests. Guilds are seen as the small and medium enterprises of web3, allowing groups of friends to start playing a game, earn assets, and build their guilds.
- Long-term Vision: The longer-term vision for Onchain Guilds is to be the largest pool of decentralized labor, where people can self-organize and earn money from various on-chain actions.
Reputation and Identity in the Gaming World
- Reputation: Completing quests and earning achievements in different games helps players build a reputation as a gamer. On-chain reputation informs the quality of a contributor and can unlock various behaviors and benefits, such as airdrops or VIP access.
- Identity: Onchain IDs are starting to link web 2 and web 3 identities, allowing users to show information without revealing personal identity. Zero-knowledge proofs can be used to hide and show different pieces of a wallet, allowing users to control what information they reveal.
The Potential of Crypto in Virtual Worlds
- Crypto’s Role: The guest envisions a future where a crypto wallet serves as a gateway to unlock various opportunities in virtual worlds, combining elements of LinkedIn and Uber.
- Readiness for Mainstream Adoption: While the guest believes that crypto is ready for the creation of new types of applications for mass consumption, they acknowledge that it may not be a straightforward path and that new types of valuable interactions need to be discovered.
Sentiment Analysis
- Bullish: The guest’s sentiment towards the future of crypto-based games and the role of YGG in this ecosystem is bullish. He sees a bright future for on-chain guilds and believes that crypto can unlock various opportunities in virtual worlds. He also expresses excitement about the potential of crypto and the vision for on-chain LinkedIn and Uber-like platforms.
- Neutral: While the guest is optimistic about the potential of crypto, he acknowledges that the path to mainstream adoption may not be straightforward and that new types of valuable interactions need to be discovered. This suggests a neutral sentiment towards the immediate future of crypto.
