Guild of Guardians, a non-fungible token (NFT)-enabled mobile role-playing game (RPG) released by Immutable and created by Stepico Games, has shared details of an in-game currency token that has been “made available in an exclusive CoinList sale.”
The token sale, which is issued and operated by Guardians Guild Limited, should help with accelerating the growth of the Guild of Guardians community in the coming years and “galvanize a token-powered in-game economy enabling users to earn the token, dubbed ‘Gems,’ to spend on in-game NFT items and characters,” according to a release shared with Crowdfund Insider.
Gems spent to mint, purchase or trade assets will be “sent to the Rewards Pool,” the announcement noted while adding that Gems in the rewards pool will be “distributed to the community via active staking, where players must stake and actively participate in the game to receive rewards.”
The token will also offer voting rights for holders “to vote on important game decisions,” the announcement added.
As stated in the release, 60 million or 6% of the total supply of Guild of Guardian tokens have been “reserved for the CoinList sale and will be subject to a variable 12-month holding period.”
The announcement also mentioned that $2.5m of GOG tokens were “purchased by strategic partners in a private sale in May 2021.” The private round has reportedly been led by various crypto VCs and investors, including Dialectic, Flamingo DAO, and Yield Guild Games. All private sale investors have “adhered to a strict vesting schedule to incentivize long-term growth and sustainability,” the announcement confirmed.
The sale will aim to “support Guild of Guardians’ mission to build the future of play-and-earn – a world where gamers can play their favorite games while earning and trading NFTs as part of a massive, open-world economy.”
NFTs hold the potential to tap into new mechanics in gaming, especially the opportunity for 3rd parties who are not the developer to “build real, sustainable businesses around the metaverse.”
As noted in the update, Guild partners are beginning to scale into the Guild of Guardians universe to “form part of the Metaverse economy.” The release pointed out that this includes Yield Guild Games (YGG), a play-to-earn gaming guild that “brings players together to earn via blockchain-based economies.”
YGG has purchased more than $100k in Guild of Guardian’s NFT guilds and intends to “participate in the game at launch and earn tangible rewards.”
Derek Lau, Game Director for Guild of Guardians, stated:
“Being able to turn your passion for gaming into a lucrative venture is a groundbreaking notion for many players. Previously, this was the realm of game developers and others directly involved in the production and distribution of games. We’re excited to drive a future where anyone can enjoy gaming for both entertainment and as a rewarding revenue stream.”
NFTs from GOG’s first wave sale have been minted through the carbon-neutral Immutable X – a layer 2 exchange platform “featuring zero gas costs for peer-to-peer trading, no custodial risk, the ability to handle up to 9,000 transactions per second, with instant settlement,” the announcement revealed.