Gaming DAO Merit Circle, YGG ‘Terminate Relationship’

Jun 15,2022
KingData News: Members of Merit Circle voted to terminate their relationship with Yield Guild Games (YGG), buying out the guild's 175,000 USDC ($175,000) investment in the play-to-earn gaming decentralized autonomous organization (DAO) for 1.75 million USDC. YGG and Merit Circle offer play-to-earn gamers so-called scholarships. Gamers, almost always in developing countries, borrow the non-fungible token (NFT) that serves as the entrance fee for the game. As part of the deal, the gamers remit yield back to the NFT’s owners as they play. “Collaboratively, Merit Circle Ltd and Yield Guild Games came to an agreement,” YGG wrote in a Medium post. “The proposed solution terminates the formal relationship between the Merit Circle DAO and Yield Guild Games. This space would not be where it is today without Yield Guild Games, and not without the Merit Circle DAO.” (CoinDesk)
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