NFT players are now eligible for scholarships through a new program backed by some of the industry’s biggest investors.
The digital landowner of the nickname and crypto group Flying Falcon was the first to contribute to the “Shepherd-A-Scholar” program created by the open gaming community Yield Guild Games. Flying Falcon will support 50 Axie Infinity players through the program.
Sponsors can donate their game code, Small Love Potion (SLP), so YGG players can use it to breed Ax, collectibles from the fictional creature that lives in the Tamaguchi cipher ecosystem.
The revenue is divided into three ways: 70% goes to the player, 20% goes to the YGG Community Manager who trains and manages the player, and the last 10% goes to YGG to cover the gas fees and breeding costs.
In November 2020, Axie was sold for 300 Ether (ETH), which at the time was roughly $ 130,000. In February, Axie Infinity announced that nine digital land plots had been sold in the game for 888.25 Ether, which at the time was $ 1.5 million.
YGG describes itself as a decentralized gaming guild of players and investors generating revenue from NFT-based games. It collects investors’ funds to purchase non-financial income-generating assets. According to YGG, there are currently more players who are applying for pay grants than assets available in the game to fulfill the demand. Since March, the number of YGG Discord server members has increased from 2,500 to 9,000.
According to the YGG, the “play to make money” movement has become increasingly common during the COVID-19 quarantine, especially in developing countries where very little help has been provided to crises. However, he added that the increase in NFT prices made many games unavailable for people who wanted the most out of the game to earn money, which is what inspired YGG to create a scholarship program.
As reported by Cointelegraph, in early February, the Flying Falcon spent nearly $ 1.5 million buying digital land in the Axie Infinity metaverse. Speaking of his decision to sponsor Axie players through the YGG program, NFT investor said:
“The future is in the metaverse, and those who develop it will be NFT players. As we build the digital nations of tomorrow, we must make these virtual worlds more inclusive than the ones we live in today.”
YGG intends to offer scholarship programs for other NFT games in the future, as the group currently owns non-money tokens from other cryptocurrency games, including League of Kingdoms The Sandbox and F1 Delta Time.
In March, YGG raised $ 1.32 million in an initial tour led by Delphi Digital.