YGG Commits to Purchase $1M Worth of Star Atlas Game Assets
Play-to-earn gaming group Yield Guild Games announced its intention to purchase of $1 million worth of Star Atlast NFT gaming assets to express its commitment to the long-term partnership between YGG and Star Atlas, a space-based, Sci-Fi MMORPG on the blockchain.
The announcement comes a day before Star Atlas is set to release its full game trailer on YouTube.
Star Atlas is described in its whitepaper as a virtual gaming metaverse set in space, with thee factions engaged in a struggle to take control of resources and territory. The core game mechanics involved land and territory control, vehicle and fleet control, player vs. environment and vs. player missions, and space exploration as the core gameplay. The game is built in Unreal Engine 5 and is VR-enabled.
For its blockchain mechanics, Star Atlas is on the Solana blockchain with a decentralized exchange already built in-game. Finally, since the game assets are non-fungible tokens or NFTs, players can exchange or buy NFTs directly on the marketplace. There are two in-game currencies – ATLAS and POLIS.
Players can choose a character that will shape what their in-games items will be and what items they should own. “Aided by their acquired assets, Yield Guild will be presented with several cooperative opportunities, ready to be capitalized upon through the coordinated efforts of guild members,” YGG said in a Medium post.
YGG, a play-to-earn community that has more than 63,000 members on Discord, said it has already acquired Star Atlas assets through previous drops. These include spaceships, a critical game asset in Star Atlas, and YGG owns the Calico Guardian, Compakt Hero, Opal Jetjet and Pearce X4 among others.
Both Star Atlas and Yield Guild Games previously announced a strategic partnership last April. “YGG’s mission is to gather gamers around the play-to-earn metaverse and invest in assets that help those players earn yield. Through the partnership, YGG will enable metaverse participants to lease NFTs on the in-game Star Atlas DeFi marketplace,” Star Atlas said last April 9th.
According to Michael Wagner, co-founder and CEO of Star Atlas, their partnership with YGG provides opportunities to millions of players to prosper through the SciFi blockchain game. “With the groundbreaking economics and governance model that goes much beyond ownership of assets, the ability to truly reap the rewards of their time and effort spent in the game will open an unprecedented array of possibilities for Star Atlas players and the socioeconomic model of the future,” Wagner said further.
Star Atlas is just one of the multiple other NFT games that Yield Guild games have investments in. Other games include League of Kingdoms, Zed Run, F1 Delta Time, Splinterlands, Guild of Guardians, and Axie Infinity.
Last August, high profile venture capital firm Andreessen Horowitz (A16z) makes its first investment in a Filipino-led startup in Yield Guild Games, leading the $4.6 million funding round that’s also joined by Kingsway Capital, Infinity Ventures Crypto, Atelier Ventures, as well as gaming entrepreneur Gabriel Leydon. In a press release, YGG said it plans to use the funds to continue investing in digital assets in games with play-to-earn ecosystems, the new type of gaming model wherein the players earn from the game rather than the game earning from its users through “free-to-play” and other similar monetization systems.
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