Almost two years since the onset of the Covid-19 pandemic, Filipinos continue to be cautious with spending due to limited income sources and a high unemployment rate. For those who do not have the qualifications and additional resources to adapt and make money, options are dim.
Filipino-led gaming guild Yield Guild Games (YGG) is riding on the play-to-earn gaming phenomenon in the Philippines to help the underprivileged weather the dire economic landscape.
With its scholarship program, livelihood opportunities are now more attainable especially for people like Lorraine Gorgonio, a 25-year old resident of Davao del Sur, who had been struggling to balance multiple roles with limited income.
A Business Administration student and mother of three, Gorgonio first ventured into selling thrift clothes online so she and her partner could support her family.
“I tried online selling because of the pandemic and so I can have more time to take care of my children, but even with my partner’s salary as a stockman, it was difficult to make ends meet. I had to keep asking my parents for financial support,” shares Gorgonio.
A friend referred Gorgonio to CryptoShanks, one of YGG’s managers with a large scholar base in the country, from whom she learned about Axie Infinity and the scholarship program.
To play Axie Infinity, one of the most popular play-to-earn games in the country, a player needs to own a team of at least three of the game’s non-fungible token (NFT) called ‘Axies’, costing P35,000 upward. The scholarship program lends these NFTs to players, allowing them to earn in-game rewards without upfront risks.
Allowing its player base to reap its merits, YGG’s scholarship program gives the majority of earnings back to the community, with scholars getting 70% while managers get 20%. Only 10% goes to the revenue pool of YGG.
“Being a scholar with YGG was a life-changing experience for me. It is such a relief to finally be financially stable and self-sufficient,” Gorgonio, who plays for at least an hour to three hours a day and has been raking more than enough to afford her family’s daily needs, shares.
“I paid for my hospital bills when I recently gave birth to my youngest son, and I can already pay for my eldest son’s and my tuition fees, pay the bills, and also give back to my supportive parents.”
CryptoShanks, also from Davao, has been in the play-to-earn economy for more than a year now after leaving his multiple online jobs where he stayed for three years.
“Leaving the jobs I was familiar with for something as new as playing Axie Infinity was very scary, but seeing that I could help more people through this, I am realizing that the big jump was fulfilling,” he said.
His first Axie team was sold by YGG co-founder Gabby Dizon himself, and since then, he has onboarded over 150 scholars nationwide, prioritizing low-wage earners and those who were laid off during the pandemic.
“The main goal of helping low-income and the unemployed is to give them the capacity to support themselves and their families while there are scarce opportunities for them to make a living,” CryptoShanks shares.
Apart from giving scholars the chance to gain in-game merits and use them for their living expenses, he and his team also help them understand other opportunities in the game such as how to build their own team and breed Axies, as well as cryptocurrency and basic trading.
While gaming communities aim to enhance the gaming experience of their members, YGG goes beyond and amplifies this experience to impact the day-to-day lives of Filipinos. For scholars like Gorgonio, who is close to completing her own Axie team and onboarding her own scholars, enhanced quality of life is possible.
“Eventually, I, together with YGG, would like our scholars to gain financial literacy and stability– a chance to not just survive but to also thrive,” CryptoShanks adds.
