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What is DAO in gaming and its impacts on Gaming Guild

31 August, 2022

⚡️ What is DAO?

Cre: Upstream

 A DAO, or a Decentralized Autonomous Organization, is an organization governed by computer codes and smart contracts that can function autonomously. A DAO is based on rules stored transparently in a blockchain and can execute commands automatically using external information. The concept of a DAO is to promote oversight and management of an entity similar to a corporation.

 One of the major features of digital currencies is that they are decentralized. This means they are not controlled by a single institution like a government or central bank, but instead are divided among a variety of computers, networks, and nodes. In many cases, virtual currencies make use of this decentralized status to attain levels of privacy and security that are typically unavailable to standard currencies and their transactions.

 ⚡️ DAO’s impacts on Gaming Guild

Cre: Bitcoininus

 Recently, blockchain gaming has turned from relatively unknown games used by a minority of gamers to a rich and comprehensive ecosystem. These crypto games ecosystem is changing the way players can monetise in their spare time like never before.

 Gaming Guilds take the form of decentralized autonomous organizations (DAOs) made by people that work together to collectively acquire, manage, use, and monetize assets from a variety of popular blockchain games, such as Axie Infinity, The Sandbox, Decentraland, and Wilder Worlds, etc…

Crypto gaming guilds act also as platforms to welcome and support new gamers by providing the assets they need to start playing the games, both financially and technically. As a matter of fact, Crypto Gaming Guilds are becoming one of the most popular ways to access the play-to-earn experience and immerse in the world of Metaverse. Thus, it is safe to conclude that Gaming Guilds implemented through DAOs are the real game changers in the gaming space and open even further opportunities for players to monetise like never before.

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