What is the GuildFi Token? (GF)

What is the GuildFi Token? (GF)

What is the GuildFi Token? (GF)

GuildFi Token (GF) is the utility token of the GuildFi platform, which is a Web3 platform that aims to be an interconnected ecosystem of games, NFTs, and communities that elevate players’ experience by enabling interoperability across the metaverse.

 

For those who are unfamiliar with Web3 platforms, Web3 is the new internet that is believed to be disruptive to Web 2.0, which is the current era’s internet. The main characteristic of Web3 is decentralization. Platforms built on Web3 are not owned by any organization, but rather by users who own tokens and take part in validating and governing the platform. For GuildFi, that token is the GuildFi Token (GF).



So how will GuildFi elevate players’ experience? Even though GameFi has been gaining traction recently, there are some people who are interested, but are faced with difficulties when trying to get started, like not knowing how to set up a wallet or acquiring enough funds to buy in-game items. Even for people who are in the GameFi circle now, it’s hard to start a new game, because their rewards and income are locked in a previously-accessed game and cannot be transferred. Therefore, players would have to start building their experience points all over again. GuildFi is aware of these issues and wants to solve them.



Players who sign up for GuildFi ID will be able to track their performance across many games. They can also access a selection of games curated by GuildFi. The platform categorizes games so players can easily find what is suitable to their playing style. Also, with the data GuildFi aggregated, players can estimate how much they can earn from each game. For those who lack the funds to get started, they can get a scholarship from guilds to start playing for free. Game developers will also benefit from this model since they will be able to find a player base faster, which can contribute to the game’s success and sustainability.





Developers

GuildFi was founded by Mr. Jarindr Thitadilaka and a team of experts in the GameFi and cryptocurrency world. In addition, they also have a strong foundation from building the largest guild in Thailand for various games.



The project is backed by many well-known investors in their seed round funding, in which they raised 200 million baht from DeFiance Capital, Hashed, Pantera Capital, Coinbase Ventures, Alameda Research, Animoca Brands, and others. More recently, they have raised 4.7 billion baht in their Token Launch Auction (TLA), where the token price concluded at 4.03 U.S. dollars.





What are the utilities of GuildFi tokens?

Based on the GuildFi whitepaper, the GuildFi Token has 3 main utilities.

1. Accrued value from the platform’s growth - The platform generates revenue from Play-to-Earn (P2E) games in its ecosystem, guilds and scholarships, NFT sales and IGOs (Initial Game Offerings) and its other businesses.

2. Entitled benefits from being GuildFi members - GF token owners can stake their tokens to become a member of the GuildFi DAO (Decentralized Autonomous Organization), which offers different perks depending on the member tiers. Perks can include staking rewards, NFT allocation and token airdrops from games, access to tools for players or guilds, and early access to games.

3. Used as the platform’s governance token that enables holders to take part in proposing and voting for systematic changes on the platform for sustainable growth.





In reference to statistics from CoinMarketCap on December 21, 2021, GF is ranked as the 418nd highest in terms of market capitalization, with around 105 million U.S. dollars or around 3.5 billion Thai baht. GF’s maximum supply is fixed at 1 billion with a current 42,185,071.63 GF in circulation.  Additionally, GF once made an all-time high at 114.73 baht and is hovering around the price of 81.41 baht at the time of writing.





The Future of GuildFi and GuildFi Token (GF)



If we take a look at GuildFi’s roadmap according to the whitepaper, GuildFi is at stage where they are connecting the fragmented gamers, guilds, and games into one GameFi ecosystem. For example, they are increasing the number of activities that are being tracked on the platform so that it can mature into one single source of truth for players’ gaming experience. At the end of this phase, they expect to be the leading platform that helps gamers enter the metaverse, discover games and have the ability to rent out or borrow gaming assets.



As for GuildFi Token (GF), GuildFi has plans to transition into a DAO (Decentralized Autonomous Organization) and GF  will act as the governance token used to vote on various matter regarding GuildFi’s dirention.





Conclusion

GuildFi Token (GF) is the utility token to the GuildFi platform, which was founded to solve the current issues of the up-and-coming GameFi. GF tokens can accrue value from the platform’s growth, provide staking benefits, and dictate GuildFi's Governance. However, it is crucial that investors study the platform and its risks thoroughly before investing.





Reference:

GuildFi Whitepaper, Bitcoinaddict, Techsauce, The Standard, Wired

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