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Yield Guild Games Invests $175K in Merit Circle to Expand Scholarship Program
YGG will work with the decentralized autonomous organization to expand its play-to-earn scholarship model in developing countries.
Yield Guild Games (YGG), a decentralized gaming startup, said it invested $175,000 in Merit Circle to help “bring play-to-earn to the masses.”
- YGG said it will work with Merit Circle, also a decentralized autonomous organization (DAO) focused on gaming, to expand its play-to-earn scholarship model that is focused on developing countries.
- YGG describes itself as a “play-to-earn gaming guild.” It allows users to invest in non-fungible tokens (NFTs) used in blockchain gaming.
- The deal with Merit Circle means the firms can host events and lend assets to each other as well as make investments and pursue projects to benefit both communities.
- Merit Circle was incubated by the early-stage venture capital firm Flow Ventures, and has supported gaming communities through its scholarship programs in the Philippines, Venezuela, Africa and Nigeria.
- In August, YGG signed a sponsorship deal with cryptocurrency exchange FTX. The agreement will allow Axie Infinity players from developing countries to receive scholarship funds.
- YGG said its users can interact with the gaming guild by applying and receiving a scholarship for Axie Infinity or by purchasing Merit Circle’s soon-to-be-released governance token “$MC” to be a part of the DAO.
Read more: Yield Guild Games Taps HaloDAO to Help Gamers Put Earnings in DeFi
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Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
