Yield Guild Games Invests $175K in Merit Circle to Expand Scholarship Program

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.

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Tanzeel Akhtar

Tanzeel Akhtar is a reporter based in London,UK.

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