Yield Guild Games Partner Parallel TCG to Launch $100K Prize Pool Tournament

The Philippines-based Web3 guild protocol Yield Guild Games (YGG) has teamed up with the creators of the popular trading card game Parallel TCG to launch a tournament with a $100,000 prize pool. The event will take place at the YGG Play Summit (YPS) in Manila, Philippines, from November 19 to 23.

Details About the Partnership

The partnership will see new and experienced players competing in Parallel TCG in the tournament and showcasing their skills.

The tournament will have two qualifiers on October 12-13 and October 26-27. On the first day, participants will play seven rounds in a Best of 3 Conquest format. The top 8 players will advance to the second day, where they will compete in a Best of 3 single elimination format to earn Parallel League points. Sixteen players from the two 128-player qualifier tournaments will qualify for the main event at YPS.

The YPS will also see the first-ever IRL GAM3 Awards ceremony, a cosplay competition, and a one-day conference with live demos and Web3 game matches.

Commenting on the newly announced partnership, YGG’s co-founder, Gabby Dizon, said:

“TCG players have always been passionate about the games they play, and many look for opportunities to test their skill at a high-stakes competitive level. Parallel is in a very good position to be able to cater to these players, with many of its mechanics inspired by competitive TCGs such as Magic: the Gathering and Hearthstone. With YGG organizing these events, many players can have a chance at earning their share of the $100,000 prize pool at YPS.”

Philippines and Crypto

The latest initiative to launch a Web3-focused tournament in the Philippines shows that the South Asian country is not hostile towards cryptocurrencies.

Previous reports have shown that the country’s government authorities are exploring ways to bolster the healthy adoption of crypto and other blockchain endeavors, such as Web3 gaming. Prominent blockchain projects like Tether have entered the Philippines market to grow their ecosystem.

A recent report confirmed that the Philippines’ central bank has approved PHPC, a stablecoin pegged 1:1 to the country’s sovereign currency, the peso. The stablecoin aims to ease the transaction of remittances.