A gerund, as you probably already know, is an "ing" form of a VERB which has the qualities of both a "verb" and a "noun". It, together with its complements, forms a verb phrase and this verb phrase is then used as noun phrase in a sentence. It, then, does the job of a noun phrase.
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Zoltán KirályI think that "playing" is a gerund. Am I right? But gerunds act like nouns. Then we have two nouns "playing" + "guitar" together. Is this a compound noun acting as the subject, or something like this?Playing is a non-finite verb and the noun guitar is its direct object. In this way playing guitar has the structure of a clause