Renounce the Guilds — ruling 1

The active player (the player whose turn it is) chooses which multicolored permanent will be sacrificed, then each other player in turn order does the same. Then all chosen permanents are sacrificed at the same time.

Renounce the Guilds — ruling 2

Renounce the Guilds doesn’t target any player and may be cast even if a player doesn’t control a multicolored permanent.

Renounce the Guilds : règles, fonctionnement et interactions (MTG)

Renounce the Guilds is one of those cards players keep asking about. Here is, in plain words, what its official text says, the rulings published by Wizards of the Coast, and the combos players actually run.

Official card text

Each player sacrifices a multicolored permanent of their choice.

How it works : Renounce the Guilds

Original English text — Wizards of the Coast / Scryfall

#1April 15, 2013· Wizards of the Coast
The active player (the player whose turn it is) chooses which multicolored permanent will be sacrificed, then each other player in turn order does the same. Then all chosen permanents are sacrificed at the same time.
No other card is named in this ruling.
#2April 15, 2013· Wizards of the Coast
Renounce the Guilds doesn’t target any player and may be cast even if a player doesn’t control a multicolored permanent.
No other card is named in this ruling.