Gaming DAOs and gaming Guilds are distinct entities within the web3 gaming industry, yet they share a common purpose: facilitating players to start playing web3 games even without initial capital. A Gaming DAO is a decentralized organization driven by community and smart contracts, ensuring democratic governance across all games. Similar to traditional DAOs, Gaming DAOs manage games and incorporate player feedback, making changes based on majority community agreement.
On the other hand, a gaming Guild is also an organization but typically not decentralized, often initiated by a group interested in a particular game, aiming to assist and increase player participation in that game.
The key difference lies in their origin; gaming DAOs usually stem from within the game's community, while gaming Guilds originate externally, often lacking direct ties but sharing the goal of supporting players who lack the capital to engage in web3 gaming. Both entities commonly employ a cooperative initiative known as a scholarship to enable players to enter the gaming scene.
However, there has been a recent downturn in the market, leading to losses for many gaming DAOs and Guilds. This raises questions about their relevance in the crypto market. To address this, let's examine the current operations of a few gaming DAOs and Guilds that continue to thrive, such as YGG Merit Circle, Avocado DAO, and Boom DAO.
Firstly, YGG (Yield Guild Games), the largest guild in the crypto market, with guilds predominantly in the Americas and Asia. YGG has secured a total funding of $36 million, a substantial increase since 2021. Next, Merit Circle, with a funding amount of $4.5 million and an estimated scholarship recipients of around 3,000 players. Moving on to Avocado DAO, a renowned gaming DAO in the crypto world, it has accumulated a total funding of $18 million and provided scholarships to 10,000 players. Lastly, Boom DAO from ICP (Internet Computer Protocol), a relatively new DAO that has grown rapidly in just six months, boasting a fund of $400,000 in ICP. Boom DAO operates as a fully decentralized gaming DAO, utilizing the Internet Computer Protocol's SNS DAO mechanism to drive their network.
These examples demonstrate that not only established gaming DAOs and Guilds persevere but new entrants like Boom DAO also thrive. This illustrates the continued relevance of gaming Guilds and DAOs, even in a market where player volume and transactions in the web3 gaming industry are relatively small compared to the Bull market.
In conclusion, the data indicates that gaming Guilds and DAOs, both old and new, remain relevant. Despite the lower player volume and transactions in the web3 gaming industry during the Bear market, these entities continue to operate successfully.
Now, the question arises:
What's your take on the GameFi narrative?
Will it revive in the next Bull market, or will interest wane?
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