What Is GuildFi: Web3 Metaverse for Gamers

The gaming and blockchain community has seen a surge in projects and platforms. Each project looks to change the way the industry functions, introducing a new world of possibilities for gamers and developers. In this article, we are going to take a look at GuildFi, an interconnected ecosystem of games, communities, and digital collectibles. We will look at what it is, how it works, and the features that make it unique.

What is GuildFi?

GuildFi, short for Guild Finance, is the ultimate ecosystem for gamers. It is an interconnected Web3 ecosystem of games, NFTs, and communities aiming to boost player’s benefits and enable interoperability in the metaverse.

GuildFi’s combination of blockchain technology, the metaverse, and decentralized Finance (DeFi) creates an immersive gaming experience that redefines how gamers interact with their favorite games and the gaming community.

On GuildFi, users are provided with various platforms where they can find and play new games, join guilds, and engage with the gaming ecosystem on a much deeper level than they have been exposed to. GuildFi applies Defi initiatives like financial incentives and rewards to create a holistic gaming metaverse.

History of GuildFi

The journey of GuildFi started when two passionate gamers and blockchain enthusiasts, Jarindr Thidilaka and Akaradet Diawpanich, saw the possibilities that lay behind combining the world of blockchain technology and gaming. After its launch, the platform saw successful rounds of funding, which made it one of the largest Web3 gaming scholarship funds in Thailand, with over a thousand gamers accepted as part of the program.

The platform was able to raise $6 million in seed funding in November 2021 before raising an additional $139 million in December through the launch of its token. GuildFi owns around $7 million of in-game NFT assets that it lends scholars. These assets generate extra revenue for the GuildFi ecosystem and place the assets in the hands of gamers who otherwise would not have had access to such assets.

How Does GuildFi Work?

Blockchain gaming projects aim to advance various aspects of the industry; meanwhile, GuildFi is looking to become an all-encompassing gaming platform for blockchain, which welcomes new users and gives them all they require to succeed.

Guilds began springing up in games like Axie Infinity and eventually became too expensive for new users to join. To balance that out and ease the entry of new users, the system of scholarships emerged. Wealthier gamers began lending out items to new users who were finding it difficult. This allowed borrowers to engage with the games and earn revenue for themselves, keeping the loans in mind.

The concept worked for a while, but the major limitation was the lack of interoperability that came with it. Users became stuck to one guild within one game. GuildFi aims to fix this through its Guild Discovery feature. With this feature, users are able to get curated games in an aggregated form.

GuildFi makes use of a Proof-of-play reward system that is unique to the platform. The proof-to-play reward system turns any game into a play-to-earn game. This is revolutionary for gamers cause that means they never have to choose between games they love to play and the ones they can earn from because all games on the platform pay gamers.

Developers also benefit from this since they no longer have to think of ways to incentivize players to explore their metaverse. All they have to do is focus on building great games that players love to play while having their rewards boosted by GuildFi.

Main Features of GuildFi: GuidlFi ID, Game Discovery, Tools and more

GuildFi offers a very diverse, Ethereum-based Web 3.0 infrastructure built to connect NFTs, games, guilds, and communities. At the base of GuildFi is its Gaming Center, the key mechanism of the platform used to onboard new users and also serves as a place where gamers begin their journey into the metaverse.

GuildFi ID

This is the player’s Metaverse ID and contains a leveling system that keeps track of the player’s achievement and footprint around the Metaverse. Players receive points for engagements and ranking, which translate into the rewards they deserve.

Game Discovery

GuidFi helps players discover compiled games they might be interested in. It also helps game creators discover the right player base for their game launch. It comprises simple access to the Axie Infinity game, Cyball, The Sandbox, Star Atlas, and many more, making P2E more accessible to new players around the world.

Guild Discovery

This is a scholarship program created to help global players overcome the barriers ahead when trying to enter play-to-earn games in the GameFi space. The GuildFi treasury and partners sponsor the scholarship.

Proof-of-Play Rewards

On Guild-Fi, play-to-earn can be enabled on any game by analyzing the gamer’s overall accomplishments and giving them rewards like NFT and tokens. The Proof-of-Play (PoP) creates GXP as experience points. This means the more GXP a player accrues, the more benefits they can claim from GuildFi.

Metadrop Launchpad

GuildFi offers special deals to players according to their rankings. The players receive NFT and tokens from the platform’s partners. Players with higher-ranked GuildFi ID levels earn higher rewards and bonuses.

GameFi Tools

GuildFi boosts gamers’ performance by providing tools for gaming, like an Axie Infinity toolkit, which includes scholarship management, daily SLP shares, PvP simulation, team status, and card explorer.

Scholarship Portal

GuildFi’s scholarship program is funded by the platform’s treasury, partner guilds, and connected NFT funds. This greatly reduces the barrier to entry for play-to-earn games, opening up the gates for players anywhere in the world.

Guild Zone

This is a zone that is made up of play-to-earn products and other value-added products for investors and existing guilds like GF Guild, Guild Network, and Guild-as-a-service.

NFT Zone

This zone contains the Metadrop Launchpad and gives access to the platform’s limited IGOs, NFTs, and other token deals.

Tools Zone

This is a zone dedicated to aiding player performance by providing GameFi tools and features like scholarship management, leaderboards, team status, card explorer, PvP simulations, and many more.

GuildFi Version 1.5

The GuildFi V1.5 update is an improvement in the user experience for the platform gamers and game partners. It includes updates on the already existing User Dashboard and Game discovery features. While also introducing new features like General Achievements, Inventory, EXP points, and the Leaderboard. The updates listed above are further explained below.

Quest System

This feature grants users the ability to connect their GuildFi accounts to their Steam account. What this means is that GuildFi will be integrating quotes from Steam-based games like DotA2 into its platform. This is a step in GuildFi’s plan to foster interoperability between web2 and web3.

Users of the GuildFi platform will be able to take part in different quests and earn several rewards for completing trivial, daily tasks. They also can earn from gaming achievements that would have been accomplished regardless of the rewards provided.

User Dashboard

The platform has updated its User Dashboard to improve the user experience in terms of navigation and display, social media integration, and tracking of progress. The dashboard is a central location for players to view and manage their profile, inventory, leaderboard, achievements, challenges, and quests.

The dashboard would contain the different quests available to gamers, completed quests, and other upcoming quests. They can view their EXP and the EXP required to level up. Lastly, they will also be able to sync their Discord accounts with the GuildFi platform.

Game discovery

Game discovery on GuildFi now allows users to categorize and sort the different games and quests available to them according to their personal preference and track records of the different quests available for each game, along with a featured game list.

The new additions make the feature more user-friendly and allow them to choose different games based on their interests and their skill sets. This is very important as the number of games being released in 2023 is on the increase. GuildFi sees a future where the Game Discovery feature will be the go-to library for every gamer looking for the opportunity to earn rewards and new games to enjoy.

Inventory

The V1.5 inventory feature will enable users to keep track of every NFT they have earned or traded from playing GuildFi’s partner games, including any blue chip NFT that one may own. This means GuildFi users no longer need to make use of other platforms to monitor the different rewards, player tickets, or whitelists earned.

Achievement

The GuildFi achievement feature will allow users to complete different milestones and achievements based on the different activities and games available on the platform. The more games users play and finish, the more rewards they earn. This means users are not only rewarded financially for their achievements but are also rewarded through platform-based status symbols or NFTs.

EXP points and the GuildFi

GuildFi V1.5 is equipped with an EXP (Experience Point) feature. This feature complements the existing GXP (Gamer Experience) feature to create a well-rounded reward system for users. The EXP earned in a particular account is equal to the cumulative GXP earned. EXP is also native to one’s account, meaning once an EXP is earned, it can not be used nor transferred to other gamers.

The user’s account also goes up based on the amount of EXP in the account. This is also displayed in the player dashboard. Users with high levels can earn higher rewards when they enter the leaderboard.

Guild Fi Token

The GuildFi Token ($GF) is the power behind the ecosystem that derives power from the ever-expanding metaverse. The token was introduced on Copper launch through an auction, raising $140 million. GF tokens are built on the Ethereum blockchain and follow the ERC-20 standard. It can also be staked for Game Experience Points (GXP).

It serves different purposes and serves numerous purposes on the platform. GF serves as the utility token within the ecosystem, represents the Metaverse Index, and serves as the government token of the platform. Some of the functions of GF include the following.

Direct Value Accrual

The GF is designed to capture the value that flows across the metaverse. This means as the metaverse keeps growing, the value of the token keeps growing. The GF token will have direct value accrual with the GuildFi ecosystem and will grow in direct proportion to:

• Revenue gotten from new P2E games
• Revenue earned from Play-to-Earn guilds and scholarship businesses
• Initial Game Offerings and NFT sales
• NFT usage transaction volume
• NFT asset yield produced from different investments
• NFT asset lending
• Project token value in connection to the metaverse

Rewards for GuildFi DAO Members

Once a gamer or user stakes GF tokens, they become members of the GuildFi DAO, which offers several perks and opportunities based on how much was staked. These perks are split into different tiers, which are organized according to the tier the user is in. Staking members enjoy the following benefits ranging from:

• Limited NFT allocation and Token airdrops gotten from games
• Access to special tools for guilds or individual players
• First access to new games
• A share of revenue gotten from guild products (GuildFi Guild, Guild Network, and Guild-as-a-Service)
• Staking rewards provided by GuildFi

Governance

The idea behind Governance and DAOs is to ensure that members have an active role in the way the platform or protocol is run. GuildFi’s goal is to become a sufficiently decentralized DAO. It plans to do this by utilizing a decentralized model to operate at maximum efficiency where each user would have their best interest in mind. The more tokens a user holds, the more likely they are to vote for what they believe is best for the platform. Therefore, this will raise the value of the token, leading to a scenario where all parties are compensated accordingly.

Tokenomics

The GF token has a capped market supply of 1 billion. Currently, there are just over 43 million tokens in circulation. The token’s value grows proportionally with the growth of the platform and its play-to-earn games.

How To Use GuildFi

GuildFi’s easy-to-use platform makes it so that users who are not familiar with the metaverse can still create, link, and begin earning from the platform without any entry fee. To begin earning on GuildFi, users simply have to follow the following steps:

• Visit the GuildFi website
• Click Join GuildFi and enter your email address
• Link your newly created account to the crypto wallet of your choice

How To Buy GF

Users can get GF tokens by using the various crypto exchanges out there. GF is available on exchanges such as Gate.io. To start trading, users only have to create a Gate.io account and complete the KYC procedure, then review the procedure to buy GF on the spot or in future markets once they have added funds to their account.

Take Action on GF

Check out the price of GF today and start trading your favorite currency pairs.

• GF/USDT
• GF/ETH

Useful References

For more information on GuidFi, you can visit:

• Official Website
• Telegram
• Facebook
• X
• Youtube
• Discord
• @guildfiofficial">Medium