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Yield Guild Games Taps HaloDAO To Assist Gamers Put Earnings...

Yield Guild Games Taps HaloDAO To Assist Gamers Put Earnings In DeFi.

The agreement with HaloDAO will provide gamers with an opportunity to excel in yield farming and other aspects of decentralized finance.

Yield Guild Games (YGG) which is a major investor in the “play-to-earn” arena, joined hands with HaloDAO, stablecoin-focused decentralized finance (DeFi) project, to enable its gamers to cash out using its stablecoin and gain yield.

This collaboration will enable YGG gamers to cash out in local regions through its stablecoin-focused automated market maker (AMM) on Ethereum and Polygon.

YGG is a “play-to-earn gaming guild” and gamers get a chance to earn tokens using blockchain-based economies like Axie Infinity.

The agreement involves the firms building out financial tools to keep a track of the performance and provide gamers a great way to grow their earnings with yield farming and other decentralized finance (DeFi) applications.

Gabby Dizon, YGG founder said the project will enable users to gain access to “income-earning opportunities in crypto” and “improves their income-earning capacity.” The rise of Axie is so noticeable in Phillippines that the regulators are reportedly weighing how to tax gaming-related earnings.

In a funding round led by venture capital firm Andreessen Horowitz (a16z) in August, YGG received $4.6 million and the firm stated it plans to invest in digital assets in virtual space.

YGG and cryptocurrency exchange FTX also signed a sponsorship deal last month. In this deal, Axie Infinity players from developing countries will be provided with scholarship funds. The deal also involves loaning non-fungible tokens (NFTs) to players if they cannot afford to buy, under a revenue-sharing agreement.

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