One significant application of blockchain technology is Decentralized Autonomous Organization or DAO. If Defi is replacing traditional finance, NFT is redefining ownership, then DAO will revolutionize the very organization and interaction between humans, which is mindblowing if you ask me.
So, what exactly is DAO, and how Widi Land has applied it to the benefits of gamers? Let’s begin.
What is DAO?
Since the beginning of civilization, we have relied on hierarchies to govern society and organization, a top-down approach. We have leaders to guide us and protect us because he or she is the strongest, fastest and smartest, and in exchange, we provide them with food, money, and power.
No matter the names that you hear, be they democracy, authoritarianism, fascism, or socialism, it is still based on the aforementioned structure, i.e a leader or a group ruling the masses. The difference lies in the scope of power and privilege that the leader holds.
Now, that hierarchical structure is being challenged for the first time in history by blockchain technology.
A decentralized autonomous organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community organized around a specific set of rules enforced on smart contracts. They have built-in treasuries that are only accessible with the approval of their members. Decisions are made via proposals the group votes on during a specified period.
Most crypto projects are DAO where token holders can vote for the direction or new features, and we are seeing new subsets of DAO such as investment DAO, community DAO, gaming DAO, ... Examples can be Maker DAO or BitDAO.
DAO in Widi Land
Unfortunately, for the first version of the game, launching in Q1/2022, we will not implement a DAO in the game. In the early stage, there are a lot of features and bugs that we want to deal with first to improve the experience of our gamers. Rest assured that we will continue to listen to feedback from the community and act accordingly.
We will begin to implement DAO in early 2023 through staking and in-game voting. Stakers will vote on the use of the ecosystem fund and decide on new features in Widi Land. We have allocated a large portion of the $WIDI token to the metaverse fund as well as a reserve for this purpose.
Finally, with the goal of becoming a metaverse, Widi Land will be truly democratized in 2024 where token holders will vote on the future of Widi Land, such as rewards, new features, partnerships, …
For example, if you find that the design of our characters is not attractive, you can submit a proposal with a couple of design recommendations so that the community can vote on and implement it. Or if you find the farming APR too low, you can submit a proposal to increase it in the future or reward long-term players with higher APR.
Moreover, through the staking mechanism, we will encourage only real players to vote, not token holders who want to trade.
Final thought
Regarding the gaming industry, DAO is a far cry compared to the traditional model where players pay money for a game which they have no say over the direction or features of the game. This is exacerbated by the fact that many game developers work in private and only release trailers as a marketing ploy. When the game is finished and sold, there remains little financial incentive for developers to further improve and augment the game.
Therefore, by allowing WIdi Land to be governed by a DAO, we show our commitment to the longevity of the game and we hope that the players can join us on this fascinating journey!
In the meantime, if you have an idea or suggestion, feel free to contact us through social media or email. e value our community and players more than anything!
End-to-End Projection 💥