{"id":5736,"date":"2020-06-28T13:08:07","date_gmt":"2020-06-28T17:08:07","guid":{"rendered":"http:\/\/cointelegraph.com\/magazine\/?p=5736"},"modified":"2021-05-21T09:46:22","modified_gmt":"2021-05-21T13:46:22","slug":"blockchain-gaming-dao-guild-economies","status":"publish","type":"post","link":"https:\/\/cointelegraph.com\/magazine\/2020\/06\/28\/blockchain-gaming-dao-guild-economies","title":{"rendered":"Beyond In-Game Assets: Blockchain Gaming, DAOs, Guilds, and Ragequitting"},"content":{"rendered":"<div class=\"row vc_row wpb_row vc_row-fluid\"><div class=\"jeg-vc-wrapper\"><div class=\"wpb_column jeg_column vc_column_container vc_col-sm-12\"><div class=\"jeg_wrapper wpb_wrapper\">\n\t<div class=\"wpb_text_column wpb_content_element \" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-weight: 400;\"><strong>Many of the builders and investors in the blockchain space<\/strong> believe that the most compelling route to attracting users to the burgeoning crypto-economy is not upending the global financial order but something with significantly lesser stakes: gaming.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And this reasoning makes sense. Both video games and cryptocurrencies feature virtual economies running on a shared set of rules, with a user base that tends to be technically-savvy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In theory, there should be less friction for blockchain&#8217;s penetration into the gaming market, but in practice, serious adoption and traction is not yet evident.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So what is the promise of blockchain in gaming?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Is it the opportunity to trade items? Or are there deeper implications for unlocking value in virtual worlds shared by hundreds of millions of players?<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Digital ownership in the gaming economy<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">While gamers have traded virtual assets for years, from Second Life&#8217;s real estate and World of Warcraft&#8217;s gold, to Dota and Fortnite&#8217;s cosmetic character skins, these virtual economies have thus far operated almost exclusively within closed, centralized marketplaces that prohibit players from exchanging with fiat currencies \u2014 or even between games.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Players have tried to circumvent this time and time again, resulting in jerry-rigged, untrustworthy markets subject to failure and fraud.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Blockchain-powered gaming can break open these marketplaces so players can freely exchange and earn real value from their work and skill without relying on third parties.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/blockchaincuties.com\/presalestore?utm_source=referral&amp;utm_medium=banner&amp;utm_campaign=ct_nft_week\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" class=\"aligncenter wp-image-5781 size-full\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Wars-of-Cutieland.png\" alt=\"\" width=\"728\" height=\"90\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Wars-of-Cutieland.png 728w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Wars-of-Cutieland-300x37.png 300w\" sizes=\"(max-width: 728px) 100vw, 728px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Before delving into the blockchain side of things, let&#8217;s first outline the two core virtual properties of interest in the gaming space:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Currencies: In-game currencies are the medium of exchange within a video game or virtual world that is used to purchase various items and abilities. For example, Second Life&#8217;s Linden Dollars, World of Warcraft&#8217;s gold, Fortnite&#8217;s V-Bucks<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Items: In-game items consist of the player&#8217;s inventory from weapons, armor, skins, to collectible monsters and trading cards. These can either be traded through barter or bought and sold via in-game currency in a closed system.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Overseeing these virtual economies are the video game developers who have complete control of their game world&#8217;s monetary policy and inventory database. After all, they dictate and enforce the rules of the game.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Does this sound familiar?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the &#8220;real world&#8221; economy is run by centralized authorities who can change and adapt monetary policy on a whim outside public opinion or scrutiny, current video game economies are a microcosm of this behavior.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Tokenizing in-game assets<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Blockchain provides a decentralized, yet secure, system for recording virtual property rights. In gaming, these properties can fall under the above categories of currencies and in-game items.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Imagine if Fortnite, arguably the most profitable video game of all time (bringing in over a billion dollars of revenue in its first ten months alone) was not a closed loop system but an open, democratic marketplace. V-Bucks could have an exchange rate with fiat currencies (perhaps 1:1 for ease of use), which would allow gamers to exchange their rare skins effectively for actual cash. Players could share in the value generated within the game economy and perhaps even sustain an ongoing revenue stream, all the while participating in the governance and decision-making as the game evolves. (Chris Gonsalves of ConsenSys expanded on this concept in <\/span><a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/27\/play2earn-blockchain-gaming-economies\"><span style=\"font-weight: 400;\">yesterday\u2019s NFT Week article<\/span><\/a><span style=\"font-weight: 400;\">.)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While there are both regulatory and technical hurdles to building such a system, blockchain provides a compelling solution to the latter.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One of the most popular use cases discussed in blockchain gaming is the tokenization of in-game assets in the form of non-fungible tokens (NFTs). Basically, NFTs are unique digital assets that can represent ownership of anything from an enchanted sword in an MMORPG, to a rare trading card or a collectible virtual cat. They facilitate digital ownership of unique or limited goods.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The following are examples of blockchain games that use NFTs:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">CryptoKitties<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Neon District<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Axie Infinity<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">MyCryptoHeroes<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Gods Unchained<\/span><\/li>\n<li>Blockchain Cuties<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Chainbreakers<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Decentraland<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Some of these titles have analogs in popular franchises like Pok\u00e9mon and Magic the Gathering, in which collecting a rare card or creature is core to the game design. This is one way that blockchain gaming is attempting to secure adoption: bringing true digital ownership to familiar gaming experiences. But where&#8217;s the hook? Why should a player give these games any mind?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">NFTs and cryptocurrencies within video game economies unlock new game design mechanics that allow players to earn real value from their skill. This is known as &#8220;Play2Earn&#8221; in blockchain gaming circles. Rather than companies creating their own dopamine-slot machine-casinos within their titles, they can build or opt into systems which reward skill and progression with real value, rather than siphon every cent they can from players through exploitative design.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A peculiar aspect of blockchain games is that the majority of them are built on open protocols which allow a degree of composability and interoperability between games and applications rarely seen in traditional game design.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So what happens when game developers can freely connect or build upon existing virtual economies?<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Gaming in the Metaverse<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">In the blockchain gaming space there is a Russian doll-like approach to layering new games or experiences on top of one another, resulting in a highly experimental and radical approach to game design.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Metaverse, the concept of a shared virtual world introduced in Neal Stephenson&#8217;s influential cyberpunk novel <\/span><i><span style=\"font-weight: 400;\">Snow Crash<\/span><\/i><span style=\"font-weight: 400;\">, is a popular and useful framework that developers in blockchain gaming refer to frequently. Essentially, it is blockchain gaming&#8217;s North Star.<\/span><\/p>\n<p>&nbsp;<\/p>\n<script>(function() {\n\twindow.mc4wp = window.mc4wp || {\n\t\tlisteners: [],\n\t\tforms: {\n\t\t\ton: function(evt, cb) {\n\t\t\t\twindow.mc4wp.listeners.push(\n\t\t\t\t\t{\n\t\t\t\t\t\tevent   : evt,\n\t\t\t\t\t\tcallback: cb\n\t\t\t\t\t}\n\t\t\t\t);\n\t\t\t}\n\t\t}\n\t}\n})();\n<\/script><!-- Mailchimp for WordPress v4.8.6 - https:\/\/wordpress.org\/plugins\/mailchimp-for-wp\/ --><form inert id=\"mc4wp-form-1\" class=\"mc4wp-form mc4wp-form-5517 mc4wp-ajax\" method=\"post\" data-id=\"5517\" data-name=\"JNEWS style form\" ><div class=\"mc4wp-form-fields\"><div class=\"jeg_mc4wp_heading\">\r\n  <h3>The best of blockchain, every Tuesday<\/h3>\r\n  <p>Subscribe for thoughtful explorations and leisurely reads from Magazine.<\/p>\r\n<\/div>\r\n\r\n<p>\r\n    <input type=\"email\" name=\"EMAIL\" placeholder=\"Email address...\" required \ placeholder="disabled" disabled="disabled" title="form boxes are disabled in cached version of the site" value="Disabled" style="opacity:0.3;" />\r\n<\/p>\r\n<p>\r\n    <input type=\"submit\" value=\"SUBSCRIBE\" \ placeholder="disabled" disabled="disabled" title="form boxes are disabled in cached version of the site" value="Disabled" style="opacity:0.3;" />\r\n<\/p><br>\r\nBy subscribing you agree to our <a href=\"https:\/\/cointelegraph.com\/terms-and-privacy\" target=\"_blank\">Terms of Service and Privacy Policy<\/a><\/div><label style=\"display: none !important;\">Leave this field empty if you're human: <input type=\"text\" name=\"_mc4wp_honeypot\" value=\"\" tabindex=\"-1\" autocomplete=\"off\" \ placeholder="disabled" disabled="disabled" title="form boxes are disabled in cached version of the site" value="Disabled" style="opacity:0.3;" /><\/label><input type=\"hidden\" name=\"_mc4wp_timestamp\" value=\"1634237026\" \ placeholder="disabled" disabled="disabled" title="form boxes are disabled in cached version of the site" value="Disabled" style="opacity:0.3;" /><input type=\"hidden\" name=\"_mc4wp_form_id\" value=\"5517\" \ placeholder="disabled" disabled="disabled" title="form boxes are disabled in cached version of the site" value="Disabled" style="opacity:0.3;" /><input type=\"hidden\" name=\"_mc4wp_form_element_id\" value=\"mc4wp-form-1\" \ placeholder="disabled" disabled="disabled" title="form boxes are disabled in cached version of the site" value="Disabled" style="opacity:0.3;" /><div class=\"mc4wp-response\"><\/div><\/form><!-- \/ Mailchimp for WordPress Plugin -->\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">An example of a metaverse game live right now is<\/span> <span style=\"font-weight: 400;\">Codename: Metaboss<\/span><span style=\"font-weight: 400;\">, an &#8220;idle&#8221; MMORPG in which players across multiple factions battle each other in weekly Showdowns with armies of NFTs pulled from other games or applications, such as the blockchain games listed above. The game also features three other virtual assets: FRAGS, a &#8220;soft currency&#8221; which is awarded to new entrants and victorious factions to be used in later Showdowns, CHERRY, an in-game currency which is used to trade NFTs, and Trophies, exclusive NFTs awarded to the winning team each week.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cPart strategy game and part collaborative storytelling\u201d according to its website, Metaboss showcases the Lego-like, combinatorial possibility of NFT-integrated game mechanics that allow virtual worlds to cross over and interact with one another.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Metaverse game mechanics may seem like nothing more than an odd experiment in a small corner of the video game industry, but this evolution closely echoes the patterns and ethos of open-source software development which produced Linux, as well as cryptocurrency itself.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">The rise of Decentralized Autonomous Guilds<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">So far we have covered how blockchain can introduce new forms of virtual economies and game experiences. But there is one use case of blockchain in gaming\u00a0 that is perhaps less rooted in creating analogs to the physical world, and that opens gateways to entirely new gaming experiences. The advent of decentralized autonomous organizations (DAOs).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">DAOs are virtual organizations which allow like-minded individuals to pursue shared goals with a secure means of allocating resources and making decisions. What makes DAOs different from a traditional company working through a Slack group is the emphasis on hard-coded incentive structures that create &#8220;skin in the game.&#8221; Basically, an individual&#8217;s reputation, or in some cases money, is tied to their decisions within the organization, thus theoretically weeding out bad actors and inefficient hierarchies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Similar to how NFTs and cryptocurrencies can democratize the familiar notion of in-game economies, DAOs can elevate the familiar notion of online guilds in the world of gaming.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4>More from NFT and Blockchain Gaming Theme Week<\/h4>\n<div  class=\"jeg_postblock_carousel jeg_postblock_carousel_1 jeg_postblock jeg_col_12 jnews_module__0_61687a629ab67   \">\n                    <div class=\"jeg_carousel_post\" data-nav='' data-autoplay='true' data-delay='4500' data-items='2' data-margin='20'>\n                        <div class=\"jeg_post_wrapper\">\n\t\t\t\t<article class=\"jeg_post format-standard\">\n                    <div class=\"jeg_thumb\">\n                        \n                        <a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/30\/billions-blockchain-brands\"><div class=\"thumbnail-container animate-lazy  size-715 \"><img width=\"350\" height=\"250\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-350x250 size-jnews-350x250 lazyload wp-post-image\" alt=\"Leveraging brands for mass adoption of blockchain gaming cropped\" loading=\"lazy\" sizes=\"(max-width: 350px) 100vw, 350px\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Leveraging-brands-for-mass-adoption-of-blockchain-gaming-cropped-350x250.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Leveraging-brands-for-mass-adoption-of-blockchain-gaming-cropped-350x250.jpg 350w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Leveraging-brands-for-mass-adoption-of-blockchain-gaming-cropped-120x86.jpg 120w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Leveraging-brands-for-mass-adoption-of-blockchain-gaming-cropped-750x536.jpg 750w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Leveraging-brands-for-mass-adoption-of-blockchain-gaming-cropped-1140x815.jpg 1140w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div><\/a>\n                    <\/div>\n                    <div class=\"jeg_postblock_content\">\n                        <h3 class=\"jeg_post_title\"><a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/30\/billions-blockchain-brands\">Billions and Billions: How Brands Take Blockchain From Niche to Normal<\/a><\/h3>\n                        <div class=\"jeg_post_meta\">\n\t\t\t\t\t\n                    <div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 30, 2020<\/div>\n                <\/div>\n                    <\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<\/div><div class=\"jeg_post_wrapper\">\n\t\t\t\t<article class=\"jeg_post format-standard\">\n                    <div class=\"jeg_thumb\">\n                        \n                        <a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/29\/investing-blockchain-gaming-vc\"><div class=\"thumbnail-container animate-lazy  size-715 \"><img width=\"350\" height=\"250\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-350x250 size-jnews-350x250 lazyload wp-post-image\" alt=\"The investment case for blockchain gaming and NFTs\" loading=\"lazy\" sizes=\"(max-width: 350px) 100vw, 350px\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/The-investment-case-for-blockchain-gaming-and-NFTs-350x250.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/The-investment-case-for-blockchain-gaming-and-NFTs-350x250.jpg 350w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/The-investment-case-for-blockchain-gaming-and-NFTs-120x86.jpg 120w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/The-investment-case-for-blockchain-gaming-and-NFTs-750x536.jpg 750w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/The-investment-case-for-blockchain-gaming-and-NFTs-1140x815.jpg 1140w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div><\/a>\n                    <\/div>\n                    <div class=\"jeg_postblock_content\">\n                        <h3 class=\"jeg_post_title\"><a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/29\/investing-blockchain-gaming-vc\">Investing in Blockchain Gaming: Why VCs Are Betting Big<\/a><\/h3>\n                        <div class=\"jeg_post_meta\">\n\t\t\t\t\t\n                    <div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 29, 2020<\/div>\n                <\/div>\n                    <\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<\/div><div class=\"jeg_post_wrapper\">\n\t\t\t\t<article class=\"jeg_post format-standard\">\n                    <div class=\"jeg_thumb\">\n                        \n                        <a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/28\/blockchain-gaming-dao-guild-economies\"><div class=\"thumbnail-container animate-lazy  size-715 \"><img width=\"350\" height=\"250\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-350x250 size-jnews-350x250 lazyload wp-post-image\" alt=\"Beyond in game assets guilds DAOs ragequitting 2\" loading=\"lazy\" sizes=\"(max-width: 350px) 100vw, 350px\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Beyond-in-game-assets-guilds-DAOs-ragequitting-2-350x250.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Beyond-in-game-assets-guilds-DAOs-ragequitting-2-350x250.jpg 350w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Beyond-in-game-assets-guilds-DAOs-ragequitting-2-120x86.jpg 120w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Beyond-in-game-assets-guilds-DAOs-ragequitting-2-750x536.jpg 750w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Beyond-in-game-assets-guilds-DAOs-ragequitting-2-1140x815.jpg 1140w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div><\/a>\n                    <\/div>\n                    <div class=\"jeg_postblock_content\">\n                        <h3 class=\"jeg_post_title\"><a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/28\/blockchain-gaming-dao-guild-economies\">Beyond In-Game Assets: Blockchain Gaming, DAOs, Guilds, and Ragequitting<\/a><\/h3>\n                        <div class=\"jeg_post_meta\">\n\t\t\t\t\t\n                    <div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 28, 2020<\/div>\n                <\/div>\n                    <\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<\/div><div class=\"jeg_post_wrapper\">\n\t\t\t\t<article class=\"jeg_post format-standard\">\n                    <div class=\"jeg_thumb\">\n                        \n                        <a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/27\/play2earn-blockchain-gaming-economies\"><div class=\"thumbnail-container animate-lazy  size-715 \"><img width=\"350\" height=\"250\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-350x250 size-jnews-350x250 lazyload wp-post-image\" alt=\"Play2Earn blockchain gaming economics\" loading=\"lazy\" sizes=\"(max-width: 350px) 100vw, 350px\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Magazine_THEME_WEEK_Play_to_Earn-350x250.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Magazine_THEME_WEEK_Play_to_Earn-350x250.jpg 350w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Magazine_THEME_WEEK_Play_to_Earn-120x86.jpg 120w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Magazine_THEME_WEEK_Play_to_Earn-750x536.jpg 750w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Magazine_THEME_WEEK_Play_to_Earn-1140x815.jpg 1140w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div><\/a>\n                    <\/div>\n                    <div class=\"jeg_postblock_content\">\n                        <h3 class=\"jeg_post_title\"><a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/27\/play2earn-blockchain-gaming-economies\">Play2Earn: How Blockchain Can Power a Paradigm Shift in Building Game Economies<\/a><\/h3>\n                        <div class=\"jeg_post_meta\">\n\t\t\t\t\t\n                    <div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 27, 2020<\/div>\n                <\/div>\n                    <\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<\/div><div class=\"jeg_post_wrapper\">\n\t\t\t\t<article class=\"jeg_post format-standard\">\n                    <div class=\"jeg_thumb\">\n                        \n                        <a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/26\/gen-z-nft-ownership-digital-natives\"><div class=\"thumbnail-container animate-lazy  size-715 \"><img width=\"350\" height=\"250\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-350x250 size-jnews-350x250 lazyload wp-post-image\" alt=\"NFT and Gen Z Redefining Ownership on the Blockchain\" loading=\"lazy\" sizes=\"(max-width: 350px) 100vw, 350px\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/NFT-and-Gen-Z-Redefining-Ownership-on-the-Blockchain-350x250.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/NFT-and-Gen-Z-Redefining-Ownership-on-the-Blockchain-350x250.jpg 350w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/NFT-and-Gen-Z-Redefining-Ownership-on-the-Blockchain-120x86.jpg 120w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/NFT-and-Gen-Z-Redefining-Ownership-on-the-Blockchain-750x536.jpg 750w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/NFT-and-Gen-Z-Redefining-Ownership-on-the-Blockchain-1140x815.jpg 1140w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div><\/a>\n                    <\/div>\n                    <div class=\"jeg_postblock_content\">\n                        <h3 class=\"jeg_post_title\"><a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/26\/gen-z-nft-ownership-digital-natives\">Gen Z and the NFT: Redefining Ownership for Digital Natives<\/a><\/h3>\n                        <div class=\"jeg_post_meta\">\n\t\t\t\t\t\n                    <div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 26, 2020<\/div>\n                <\/div>\n                    <\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<\/div><div class=\"jeg_post_wrapper\">\n\t\t\t\t<article class=\"jeg_post format-standard\">\n                    <div class=\"jeg_thumb\">\n                        \n                        <a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/25\/animism-japanese-characters-nft-blockchain\"><div class=\"thumbnail-container animate-lazy  size-715 \"><img width=\"350\" height=\"250\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-350x250 size-jnews-350x250 lazyload wp-post-image\" alt=\"Animism gives NFT characters headstart blockchain\" loading=\"lazy\" sizes=\"(max-width: 350px) 100vw, 350px\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Animism-and-Japanese-blockchain-characters-350x250.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Animism-and-Japanese-blockchain-characters-350x250.jpg 350w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Animism-and-Japanese-blockchain-characters-120x86.jpg 120w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Animism-and-Japanese-blockchain-characters-750x536.jpg 750w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Animism-and-Japanese-blockchain-characters-1140x815.jpg 1140w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div><\/a>\n                    <\/div>\n                    <div class=\"jeg_postblock_content\">\n                        <h3 class=\"jeg_post_title\"><a href=\"https:\/\/cointelegraph.com\/magazine\/2020\/06\/25\/animism-japanese-characters-nft-blockchain\">Why Animism Gives Japanese Characters a NiFTy Head Start on the Blockchain<\/a><\/h3>\n                        <div class=\"jeg_post_meta\">\n\t\t\t\t\t\n                    <div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 25, 2020<\/div>\n                <\/div>\n                    <\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<\/div>\n                    <\/div>\n                <\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">With the emergence of online gaming in the nineties, particularly MMO-RPGs, gamers quickly built social structures within these virtual worlds, forming &#8220;guilds,&#8221; &#8220;clans,&#8221; and other communities to coordinate around shared goals (&#8220;quests&#8221;) and share in the spoils of victory (&#8220;loot&#8221;). See also the phenomenon of MMORPG &#8220;raids&#8221; in which guilds battle one another for status and resources.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Blockchain-based DAOs are similar in that they are decentralized social structures mediated through technology: but with the added dimension of having their own assets and accounting systems. Like video games, they operate mostly in virtual space with a set of rules, often with immense value transacted within them. They also tend to be very meritocratic in their design.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An example of a DAO operating directly in the context of video games is Metaclan, a crypto-native esports DAO which seeks to drive adoption of blockchain gaming by showcasing the Play2Earn mechanics of various games in the form of &#8220;quests.&#8221; Each quest is created in partnership with gaming studios to reward new gamers and Metaclan members with cryptocurrency and NFT rewards. Metaclan&#8217;s first quest was built in partnership with Axie Infinity, an NFT-based, Pok\u00e9mon-like game with collectible monsters that can be bred, battled, and traded in the open market.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/blockchaincuties.com\/presalestore?utm_source=referral&amp;utm_medium=banner&amp;utm_campaign=ct_nft_week\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" class=\"aligncenter wp-image-5781 size-full\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Wars-of-Cutieland.png\" alt=\"\" width=\"728\" height=\"90\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Wars-of-Cutieland.png 728w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2020\/06\/Wars-of-Cutieland-300x37.png 300w\" sizes=\"(max-width: 728px) 100vw, 728px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Metaclan features a cryptocurrency and NFT bank called the War Chest, which members can access to outfit themselves with high-quality NFT game items, go on &#8220;raids&#8221; across games, and return to the guild with the spoils of victory.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If we examine Metaclan&#8217;s construction further, we&#8217;ll find that video game culture is heavily subsumed into this particular space of the blockchain industry.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Metaclan is built on the open-source code of Moloch, a DAO for funding protocol development of the Ethereum blockchain which, in turn, powers most of the decentralized applications and games in the space.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In Moloch, members with shares can propose funding for new tasks or ventures and the community can vote on whether or not to allocate funds from the &#8220;guild bank.&#8221; If a member disagrees with the collective decision-making of the group, he or she can &#8220;ragequit,&#8221; in gaming parlance, and instantly liquidate any shares they hold and leave the DAO.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The seed funding for Metaclan was sourced by another Moloch-based DAO, Metacartel, which is focused on funding consumer-facing applications built on Ethereum, including games.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The individuals who instantiate a Moloch-based DAO are often referred to as &#8220;summoners.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Summoners. Mages, Guardians. Mercenaries. Ragequitting. It&#8217;s very apparent that DAOs enthusiastically embrace the gamer lexicon. While clearly stemming from overlapping domains of nerd-dom, the terminology provides a lingua franca for new players looking to experiment in blockchain-driven gaming.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Blockchain gaming: What&#8217;s next?<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The integration and development of Play2Earn game design, seamless cross-game interoperability, and decentralized coordination and funding through virtual guilds are still in the very early days of experimentation. There are many regulatory and technical hurdles to mainstream adoption, from uncertainty around virtual currency legislation to a general user experience notoriously wrought with friction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is still early days in blockchain gaming. However, if the user experience can become more accessible to the layperson and the games themselves can become compelling experiences on par with traditional video games, it could prove to be the killer app for crypto .<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Can blockchain meaningfully democratize the games industry for fun and profit?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tune in, play, and see for yourself.<\/span><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;If the &#8220;real world&#8221; economy is run by centralized authorities who can change and adapt monetary policy on a whim outside public opinion or scrutiny, current video game economies are a microcosm of this behavior.&#8221;<\/p>\n","protected":false},"author":26,"featured_media":5743,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"mc4wp_mailchimp_campaign":[],"_links_to":"","_links_to_target":""},"categories":[157,1927],"tags":[],"yst_prominent_words":[211,1969,1959,1971,1968,1973,1884,1964,1944,1939,1962,1970,1960,1965,1966,335,1963,1967,1972,1961],"_links":{"self":[{"href":"https:\/\/cointelegraph.com\/magazine\/wp-json\/wp\/v2\/posts\/5736"}],"collection":[{"href":"https:\/\/cointelegraph.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cointelegraph.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cointelegraph.com\/magazine\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/cointelegraph.com\/magazine\/wp-json\/wp\/v2\/comments?post=5736"}],"version-history":[{"count":10,"href":"https:\/\/cointelegraph.com\/magazine\/wp-json\/wp\/v2\/posts\/5736\/revisions"}],"predecessor-version":[{"id":7826,"href":"https:\/\/cointelegraph.com\/magazine\/wp-json\/wp\/v2\/posts\/5736\/revisions\/7826"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cointelegraph.com\/magazine\/wp-json\/wp\/v2\/media\/5743"}],"wp:attachment":[{"href":"https:\/\/cointelegraph.com\/magazine\/wp-json\/wp\/v2\/media?parent=5736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cointelegraph.com\/magazine\/wp-json\/wp\/v2\/categories?post=5736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cointelegraph.com\/magazine\/wp-json\/wp\/v2\/tags?post=5736"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/cointelegraph.com\/magazine\/wp-json\/wp\/v2\/yst_prominent_words?post=5736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}