coindesk.com
Yield Guild Games (YGG), a key investor in the “play-to-earn” arena, has teamed up with the stablecoin-focused DeFi project HaloDAO to allow its gamers to cash out using its stablecoin and gain yield.
The partnership with HaloDAO will allow YGG gamers to cash out in local regions with its v1 stablecoin automatic market maker (AMM) on Ethereum and Polygon.
YGG describes itself as a “play-to-earn gaming guild.” It allows gamers to earn tokens through blockchain-based economies, most notably with Axie Infinity.
The agreement with HaloDAO involves the firms building out financial tools to track performance and give gamers a way to grow their earnings with yield farming and access other DeFi apps.
Read more: A16z Leads $4.6M Investment in Yield Guild Games
The project helps people gain access to “income-earning opportunities in crypto” and “improves their income-earning capacity,” YGG founder Gabby Dizon said in a statement.
In August, YGG received $4.6 million in a funding round led by venture capital firm Andreessen Horowitz (a16z) with the firm stating it plans to invest in digital assets in the play-to-earn games virtual world.
Last month, YGG and cryptocurrency exchange FTX also signed a sponsorship deal in which Axie Infinity players from developing countries will receive scholarship funds. The deal with FTX involves YGG loaning non-fungible tokens (NFTs) to players who cannot afford to buy their own, under a revenue-sharing agreement.
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