.MeritCircle_IO members have voted for buy out play-to-earn gaming giant YieldGuild's investment in the DAO. By thesamreynolds
Yield Guild Games and Merit Circle offer play-to-earn gamers so-called scholarships. Gamers, almost always in developing countries, borrow the
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.. “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.
As community members pointed out in May, there’s no legal mechanism to"refund" an investor's contribution. It would need to be bought out at a mutually agreeable price. The entire crypto gaming industry and related play-to-earn scholarship DAOs have faced strong headwinds during the last quarter as earnings on games like Axie Infinity drop.
Axie Infinity’s AXS token is currently trading for $14.33, down 33% during the last month, according to