Year of the DAO is a newsletter from DAODAO exploring the newest developments and diving deep into the world of DAOs.
Want to get paid to play video games?
Thanks to the rise of crypto gaming, that is now a possibility for all gamers.
But how exactly is this possible?
GameFi
Crypto gaming (GameFi) is a $13.7 Billion industry.
Some of the most popular games include:
In games such as Axie Infinity and Crypto Unicorns, in-game characters are NFTs that can be customized, evolved, and bred.
But these NFTs are expensive.
Axie Infinity NFTs can cost thousands of dollars.
The floor price of Crypto Unicorns is currently .9 ETH (roughly $2200).
This restricts players with less capital from playing and therefore limits the number of users engaged in a game's ecosystem.
What is the solution to this problem?
Gaming Guilds
Gaming guilds are organizations composed of gamers, investors, and asset owners.
A guild pools the resources of the community together to purchase in-game assets such as land and NFTs, then lends out those assets to gamers in order to generate yield.
This model is a win for both users and the community.
It lowers the barrier of entry for gamers and generates income for the guilds that can be distributed back to the community.
And how are most guilds structured and organized?
With DAOs of course.
DAOs allow these guilds to build a community and use a token to reward members as well as align governance and decision-making.
Let’s take a look at some of the most popular Gaming DAOs.
Yield Guild Games
Yield Guild Games (YGG) is one of the largest guilds in the space.
YGG began by providing "scholarships" in Axie Infinity but has since expanded into purchasing and lending out NFTs for dozens of crypto games.
By end of 2021, YGG had 100K discord members, 18,500 badge holders, and 10,000+ Axie Infinity Scholars.
$YGG is the governance token that powers the DAO.
According to the roadmap, YGG plans to further decentralized voting power and empower token holders.
ReadyPlayerDAO
ReadyPlayerDAO (RPD) is committed to harnessing the collective power of play to create equity for all.
When RPD launched it raised over 1000 Eth and deployed that capital into Axie Infinity to acquire Axies, land, and $AXS.
RPD now has a community of over 10,000 members with 3,000 scholars participating in gaming economies.
RPD recently had a $10.2 million financing round led by The Chernin Group.
BreederDAO
BreederDAO is not a guild itself but specializes in breeding and crafting NFTs for gamers and guilds.
BreederDAO offers proprietary technology that cuts down the time taken to generate new assets by a minimum of 50%.
As guilds define their success through user adoption, lack of access to viable assets for players is a major limiting factor.
BreederDAO removes this barrier.
$BREED acts as the DAOs governance token.
BREED just recently launched but will have multiple use cases within the community.
BreederDAO's grand vision is to operate a multichain P2E marketplace as well as participate in over 100 gaming economies.
Future of Gaming DAOs
We are experiencing the beginning of crypto gaming and guilds.
As the metaverse continues to grow, so will the need for gaming DAOs.
The future of gaming DAOs will exist on DAODAO.
Whether you want to start a gaming guild, crowdsource game development, or build a gaming community, you can do so on DAODAO.
DAODAO is the first platform that makes creating a DAO as easy as setting up a social media account.
Propose an idea, form a community, and raise capital to execute the mission.
All on one platform.
Join the movement at daodao.io and discover the new kind of crypto platform.
Thank you for reading this breakdown on Gaming DAOs.
If you enjoyed this issue, make sure to check out our thread on DAO tooling!
