The Rise of DAOs: Revolutionizing Crypto Games

The Rise of DAOs: Revolutionizing Crypto Games

July 20, 2023 by Diana Ambolis
Since cryptocurrency’s boom in popularity, people have become more conscious of their place in the infrastructure of the Internet. Now seeing the power they possess and wanting to exercise these feats of strength, select people with shared interests have banded upon a single banner and goal to create what we call as DAOs today. While

Since cryptocurrency’s boom in popularity, people have become more conscious of their place in the infrastructure of the Internet. Now seeing the power they possess and wanting to exercise these feats of strength, select people with shared interests have banded upon a single banner and goal to create what we call as DAOs today.

While they’re not necessarily a product of the cryptocurrency movement but rather the NFT hype, as they grew in number primarily during this period, it would be safe to assume that crypto is what brought them into the industry’s spotlight altogether!

DAO changed the way communities are seen in the industry moving forward. Due to their groundbreaking outlook at how to form communities and create voices that WILL be heard by the project’s governance, DAOs rose to power and standing in the industry in just a short amount of time, acting as the voice of the public and its stakeholders big and small, DAOs effectively balanced the scale which right from the get-go, was in favor of the Project and the Whales. 

As Web3.0 Games become more prevalent in this industry, let’s explore how DAOs are slowly changing the genre, of course for the better!

DAO’s Role in Web3.0

Web3.0 toting the “user-centric” title as part of its mission and vision is of course the perfect brooding ground for DAOs to show their prowess towards creating and enhancing the cryptocurrency experience of investors and enthusiasts alike. From simple community interactions to fruitful collaborations held between projects and DAOs, the Web3.0 landscape will be full of these in the future, that’s for sure!

We’re seeing glimpses of how awesome DAOs even nowadays, with lots of projects backed and supported by Decentralized Organizations in both funding, marketing, and use case, in the world of Web3.0 Gaming, this will become more prevalent.

For instance, Indie Web3.0 Gaming Companies like Elfin Games actively support the founding of DAOs in the industry, and even went so far as to inaugurate their very own DAO, aptly named “ElfinDAO”. Most Web3.0 games followed the same routine too, so how about we go for a little adventure and explore how impactful DAOs really are in the world of Crypto Games!

DAO’s Impacts on Crypto Games

There’s no denying over the fact that DAOs have an extensive impact on how Crypto Games are revered, interacted with, seen, and even played. Thanks to their through-and-through decentralization features and benefits. It would seem as if they breathe new life in what would otherwise be just another dime-a-dozen Video-gaming industry, with its only selling point being that it pays people.

Let’s glide over some of the impacts DAOs have on cryptocurrency games shall we?

Gamer Empowerment

Thanks to DAOs, gamers are given a proper voice in this community filled with loud echoes of people, all sharing their opinionated insights on everything. For stuff that matters most to gamers like how games are played, and experienced, DAOs have been an effective pedestal for gamers to voice out their qualms and insights for the betterment of the industry!

The existence of DAOs also rallied the concept of true ownership in the industry of Web3.0 Gaming by the way, as these once obscure Discord servers who were once a hub for in-game item trades and marketplaces grew so fast in relevance and power that they effectively merited the creation of the concept in the industry! 

Democratic Governance

DAOs have “democracy” and “governance” etched all over it right from the get-go. And thanks to this, they were able to transfer some of the power they possess to every Web3.0 and Crypto Gamer out there by including the gamers in the voting and governance process of every project out there.

For instance, ElfinDAO of Elfin Games, one of the fastest growing communities out there that promote the widespread adoption of Web3.0 Gaming, effectively included the gamer’s opinions and insights on how their current and future games operate, instead of centralizing the power over few entities who may or may not even have proper gaming experience to have a say!

With DAOs out there giving every gamer a voice and a stake at the voting grounds, gamers are even more empowered now more than ever in more ways than one!

Funding and Development:

DAOs aren’t just hubs for people with opinions and insights, they are a collaborative group that has helped tons of projects in the past few years to flourish and develop, either by providing proper funding, or by giving them enough manpower to push through updates and milestones!

In the past, crowdfunding, especially for obscure and independent projects with little to prove for themselves, was incredibly hard, and so most of their ambitious ideas are left in the dark corner of the room unnoticed. Nowadays, with DAOs in the mixture, projects get all the proper funding and marketing leverage they need through adoption of certain fundraising capabilities only available through Decentralized Autonomous Organizations, or by imparting manpower, sometimes even for free to flourishing projects so they can realize their dreams! 

Collaboration In-Game and Beyond

Thanks to true-ownership that Web3.0 Games possess and DAOs promote, players of cryptocurrency games are able to seamlessly operate and collaborate with each other in-game and beyond!

Unsanctioned Tournaments, Events, Trade Activities, Extensive In-game Walkthroughs and Guides, as well as Marketplaces are just the tip of the iceberg of benefits that DAOs provide cryptocurrency games. Plus, if a DAO is extensive enough to cover communities from different Crypto Games, partnerships between different companies and games are made possible in the shortest amount of time, providing more exciting features and benefits for the common gamer altogether.

Final Thoughts

Decentralized Autonomous Organizations (DAOs) are revolutionary, that’s for sure. But one can only fathom the weight of benefits and changes that this concept brought forth into the industry, which effectively shifted the paradigm to better empower the common gamer and investor!

As DAOs see more use in the first steps towards the complete decentralization of the Internet courtesy of Web3.0, games are sure to become more exciting, rewarding, and refreshing. So how about you visit your favorite game’s dedicated DAO, like Elfin Games’s ElfinDAO for instance and give them a high-five for changing the Gaming landscape of Web3.0 forever, yeah?