The Middle Ages are on the rise in the blockchain gaming world. Guilds were very large in Europe from the Middle Ages to the 18th century. Their job was to share and transfer knowledge and experience to newcomers to the guild. If we move this to the blockchain gaming industry, something similar will indeed happen. Guilds (guilds) help gamers to overcome the high entry costs and to participate in games. Several of these guilds are already active in the blockchain gaming world. GuildFi is one of them.
You probably already figured it out, in this blog I’m going to take a closer look at GuildFi and the GF token. I’m going to explain exactly what GuildFi is and how it works. I’m also going to take a behind-the-scenes look at the team on this project and discuss the GF heading. Furthermore, I will also tell you where to buy the GF token.
Please note: please note that the text below about ‘GuildFi (GF)’ as well as the explanation thereof should in no way be taken as advice. The choice for whether and in what way you want to trade (crypto) and which choices you make in terms of investment is up to you and you alone. We are not financial advisors.
Here you can first watch an in-depth video showing how GuildFi works.
What is GuildFi?
GuildFi is a guild that helps gamers avoid the high entry fees that are often required to participate in various blockchain games. It’s a Thai project and they started small. In a short time, however, they have made their mark on the Thai gaming commune. GuildFi’s roots stem from the Thai Axie Infinity commune. Axie is at the root of the success of not only the blockchain gaming industry but is also the cradle of the various guilds that are popping up everywhere. Yield Guild Games, for example, started in the Philippines.
It is therefore not surprising that many of these guilds start in Southeast Asian countries. Axie’s high entry cost, around $1,000, cannot be afforded by the average gamer in these countries. These games are also so popular in this part of the world because of Covid-19 many people lost their jobs. With gaming, especially with Axie, they were able to earn a better income than in their previous job. Back then, many people could earn between $1,000 and $1,500 per month. In that part of the world, that’s a decent income.
GuildFi is now helping budding gamers in Thailand and around the world to start playing these games for free. As of December 2021, there are already 100,000 GuildFi members, with 25,000 daily active gamers. Within the first three months of their establishment, there were also 1,500 scholars. Scholars are novice gamers who borrow NFTs of in-game items from GuildFi to participate in games.
GuildFi is working on an amalgamation of NFTs, metaverse and blockchain gaming. They have already taken the first successful steps.
How does GuildFi work?
GuildFi is a Web3 infrastructure that connects games, NFTs, communities, the metaverse, and guilds. The GuildFi ecosystem has two main components, which I will discuss.
First, in this image, you can see an overview of the GuildFi ecosystem.
This is the foundation for onboarding new gamers and starting their journey in P2E and in the metaverse. In the gaming center, you can find the following.
- GuildFi ID — Compare this to a metaverse passport. All your activities throughout the metaverse are recorded here. This will give you access to all GuildFi products.
- Game Discovery — This is where gamers and game creators are brought together so that either the right game or the right gamer base can be found for both.
- Guild Discovery — This is where scholars get their in-game items so they can participate in the various P2E games. This ensures a low barrier to entry for gamers from all over the world.
- Proof-of-Play rewards — Your activity from all your P2E gaming is tracked. You will then receive experience points (GXP) and rank in a ranking, which assesses the amount of your reward. This may include being allowed to participate in an NFT campaign or receiving additional interest on your tokens.
Through the gaming center, you also get exclusive access to the zones that are connected to the gaming center.
- Metadrop Launchpad (NFT Zone) — You will be offered a special NFT and token deal from GuildFi’s partners, which depends on your rank.
- GameFi Tools (Tools Zone) — Gamers are helped to improve their skills. For example, the Axie toolkit includes scholarship management, daily SLP tokens, PvP simulation, or the status of your team.
So you can imagine the gaming center.
There are currently three zones. These zones must contribute to adding value to the entire ecosystem by stimulating activities.
- Guild zone — GuildFi’s platform consists of P2E-related products. To start with their own guild, but also value-added products from other guilds. There are the GuildFi guild of scholarships, 1500+ in Axie, 1000+ in CyBalls and 500+ in Thetan Arena. There is also Guild as a service (Gaas) where you can start a guild, for example. The Guild network is where all guilds are brought together and you can use these services.
- NFT zone — The first product here is the Metaverse Launchpad. Limited NFTs and IGOs (Initial Game Offerings) are offered here. Other products are being worked on, such as a marketplace, a lending app, etc.
- Tools zone — An advanced Axie tool can be found here. For example, there is scholarship management or management, the game status, leaderboard or a card explorer. In the future, similar tools will be offered for other games within the GuildFi ecosystem.
Right now, GuildFi offers four games, Axie Infinity , the Sandbox, Star Atlas, and CyBall. More games will be added in the future. For example, gamers have already been accommodated in Thetan Arena and Pegaxy.
Who is on the team behind GuildFi?
The team behind GuildFi has been forging ahead in the Thai gaming scene for five years now. Jarindr Thitadilaka is the founder and holds a bachelor’s degree in engineering and information communication engineering from the prestigious Thai Chulalongkorn University. He then worked as a software developer and from 2018 he was a senior software engineer at OMG for 2 1/2 years. He was team lead at the Thai Bitfinex crypto exchange before he founded GuildFi in August 2021.
Since GuildFi will turn into a DAO, I assume there is no further information about the rest of the team.
GuildFi has had several prominent partners and backers behind it. Among others, Animoca Brands, Pantera Capital, Coin 98 and Dapper are part of this club of investors in this project.
What is the GF Token?
The GF token is an ERC20 token. The maximum supply is 1 billion tokens and there are currently 4% of that in circulation or 42,185,071.63 GF. The market cap is $110,434,492.
The GF token powers the entire ecosystem. Among other things, it is a management token, it can be used for staking and GuildFi members can get benefits. These include access to limited NFTs, token airdrops from games, and access to exclusive in-game items or to games in their testing phase.
The team is very open about the distribution of the tokens, which is usually a good sign. The team has also allocated itself ‘only’ 15%, which is another good sign. This 15% will be unlocked in 60 months, so there’s no real danger of a back pull happening.
This image clearly shows the distribution of the GF token.
The unlocking of the token will take place according to this schedule, spread over 60 months.
What is the price of the GF token?
If you want to invest in the GF token, a good start is to know its price. If you are already going to trade, you also want to make a profit. You can make a technical analysis to see what the best buy or sell moment is.
The GF token was listed on CoinMarketCap on December 5, 2021 at a price of $3.40. Almost immediately after this, the price dropped and this was his preliminary ATH. At the time of writing, at the end of December 2021, the price is $2.62.
At CoinMarketCap, it is just outside the top 400 in place 420. I think this coin has a good prospect, especially if Bitcoin continues to rise in 2021. I think it could have a good price development. If you want to invest in this coin, it is important to do your own research.
Where can you buy the GF token?
The GF token is not yet for sale on Bitvavo and Binance. There are two leading CEXs that do offer this coin, which is Gate.io and OKex. The token is of course for sale on a few Thai crypto exchanges, such as Bitkub and Bitazza. There are also two liquidity pools on the Uniswap DEX where you can find a GF pair.
What is the best way to store the GF token?
You have several options to save this token. If you want to go for the safest storage option, it is best to choose a hardware wallet. As the name suggests, this is a wallet in the form of a USB stick. You can completely disconnect this wallet from the internet. The moment you have not linked the wallet to a computer, it is impossible for hackers to get into the wallet. Of course, you still have to store the wallet in a safe way. The most popular hardware wallets are from Ledger, the X or S version, or from Trezor.
Another option is to have an online wallet such as MetaMask or a similar wallet. Now you are in possession of the private keys and it is already a lot more difficult for a hacker to get to your coins. However, if you manage to lose your private keys, you will no longer have access to your own coins. You can no longer access your wallet. For example, if your computer crashes. These private keys are therefore important and you should keep them well, preferably in different, safe places.
You can of course leave your GF token on the exchange where you bought the token. However, now you do not have access to your private keys. The private keys of exchange remain in the hands of the exchange itself. There is always the danger of a hacked exchange and then you have a chance that you will lose your crypto. These wallets on an exchange are also called hot wallets.
The GuildFi roadmap consists of four phases and lasts exactly one year if everything goes smoothly. 2022 will be another busy year for this project.
- Phase 1 was an MVP or minimal viable product. The released platform and tool is without a doubt the largest GuildFi guild in Thailand with hundreds of other guilds in Southeast Asia already using it.
- Phase 2 will lay the foundation for scaling to a global platform. Some of the infrastructures is already in places, such as the GuildFi ID, the first phase of the Guild network or the Metadrop Launchpad.
- Phase 3 will bring all fragmented parts of the ecosystem together. The Guild network will then have grown all over the world and there will be a scholarship portal.
- Phase 4 will then herald the transition to the DAO.
GuildFi has filled a gap in the market for blockchain gaming. They connect the different guilds all over the world and both offer scholarships to novice gamers themselves. Game entry fees can be expensive and beyond the reach of many potential gamers. GuildFi aims to solve this by offering an extensive ecosystem of NFTs, GameFi , DeFi and digital land.
It’s a new project, but with the rise of the metaverse, I see a bright future ahead for this project. They have a good plan and don’t just think about themselves, but want to connect the whole guild scene together. This only benefits the users and gamers. If the team manages to follow the roadmap, I see great development and growth opportunities for GuildFi. This will also have an impact on the GF token and a potential price increase is certainly a possibility. If you want to invest in the GF token, please do your own research first as I am not a financial advisor.
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Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com