Immutable, a gaming startup in Australia, last year sold its first consignment of digital pets, warriors, and monsters which were based on a new and upcoming game called Guild of Guardians. In this game, the players will be able to send their pets into undiscovered dungeons for completion of tasks and also trade their collections like it is done with NFTs or non-fungible tokens.
However, the principal buyers of these monsters and warriors were not enthusiasts of gaming but rather a Philippines-based startup that has plans of lending out the virtual pets to those players who want to play the Guild of Guardians game.
The name of the startup is Yield Guild Games, which was also successful in acquiring a $96,000 very rare NFT for the Mythic Guild, which will give the owner different special permissions. This puts a stamp of approval on a game that is yet to be launched, slated for a full release in 2023.
Immutable’s chief officer of the studio said that Yield Guild Games was one of its most close partners. YGG’s model of business, where it buys NFTs and, thereon lends them to players, has injected much-needed cash into blockchain gaming which is still in the nascent stage. It has, in turn, made YGG a force to be reckoned with.
Different venture capitalists have invested millions in the gaming industry, where some are hoping that YGG will grow and become a gatekeeper to all of the different digital worlds that are collectively referred to as metaverse.