Does the perfect game exist?
When it was launched in 2009, Minecraft spread across various platforms and was welcomed by gamers because you could add your own graphics and rules. This was a step in improving the gamer-developer relationship and the gamer’s overall experience.
GameDao intends to let gamers participate as investors in games’ designing and funding processes. GameDao also hands creators access to tools and funding to build, helping creators create the “Perfect Game”.
Currently, the gaming industry is worth over $300 billion and has had immense growth and development. Game models have changed over time, moving from traditional pay-to-play models to free-to-play models and now play-to-earn models made possible by blockchain gaming. Blockchain gaming has cranked up with the advent of NFTs. NFTs and tokens are essential in incentivising gamers to keep them playing. The ongoing development in the NFT space has resulted in more utility that allows them to grow and change properties, as seen with the implementation of RMRK NFTs.
The blockchain gaming industry grew 2000% last year, with $4 billion raised in all of 2021 and $2.5 billion already raised in Q1 of 2022, according to dapprader’s report. With interest in blockchain gaming on the rise, platforms that make building blockchain games easier must be built.
There’s an endless pool of talented game creators with fantastic ideas without access to sufficient funding.
GAMEDAO STEPS IN!
GameDao is a community-owned cooperative providing decentralised coordination, fundraising, and ownership protocols for video games, content, and eSports. GameDao helps creators obtain the necessary ecosystem tools and funding to build their games, but how does it enable gamers to have a role in owning and building these games?
Here is how it works:
· Stake $Game
· Create Dao
· Create proposals attaching milestones.
· Fundraising and coordination
1. Stake $Game
The functioning of GameDao is heavily reliant on the $Game token. This token gives access to GameDao and serves as a governance token. A staked amount is required to gain access to the protocol. Both creators and gamers need to stake $Game tokens to access and use the protocol, and the amount of access given is proportional to the amount staked.
2. Create DAO
Decentralised autonomous organisations must be set up to give investors control of the treasury and the project’s direction. Information about the DAO provided after creation includes :
· If the DAO is Public or Private.
· The requirements to access and join the DAO.
· The fees and information about the treasury.
· The rewards for participation.
· A custom token of the protocol.
3. Create proposals attaching milestones.
Anyone can create a proposal, but these proposals are subject to approval by empowered members via voting. Milestones are added to these proposals, and the maximum and minimum funds to be raised are added. A minimum amount must be reached for the campaign to be successful. Successful motions and the creators get an increased XP and REP, and unsuccessful actions receive decreased XP and REP.
4. Fundraising and Coordination
There are different fundraising campaigns GameDAO provides to creators just starting. These include:
· Grants and donations from the GameDao treasury.
· Crowdfunding from the community.
· Loans to the creators with suitable collateral in stablecoins, other assets and even in NFTs if the value can be ascertained. Creators repay loans with interest.
· Shares
The Fundraising Process
The fundraising process consists of the Fundraising Phase and the Coordination Phase. During fundraising, creators will promote their campaign and collect supporters with their funding. If a campaign reaches the desired minimum cap, it is considered successful. The coordination phase only occurs if a campaign successfully completes and governs the campaign’s validity period.
If the campaign is successful, the funds are escrowed and a percentage is released as each milestone is reached. If the campaign is unsuccessful during fundraising or in the process of building the game, the remaining funds are returned after the DAO votes.
This provides measurable safety for investors as funds are only released when they feel that milestones have been achieved.
GameDao is the next big step towards helping creators build, and gamers have significant stakes in gaming projects whilst trying to develop the perfect game. Start now!
Check out the gameDao website, their Discord and Twitter for more information.
