Thanks for following these updates! Here is day four update:
Ive compiled some information on the Ecosystem Fund and budget for the year. There are a few different categories that we will vote on, including Game Development, Events, Merchandise, More…
(Above post/update was an accidental incomplete post)
Thanks for following these updates! Here is day four update:
Ive compiled some information on the Ecosystem Fund and budget for the year. There are a few different categories that we will vote on, including Game Development, Events, Merchandise, More…
There are numerous benefits to allocating ApeCoins towards games. Each use case is unique based on the developer and player base. Ideally, we work with a mix of major games and indie developers. These projects have value for the DAO beyond simple profit. These type of allocations and support from the DAO can attract news attention and new holders to join!
Good afternoon! Here is day five update:
Today I want to discuss a more difficult topic: Coordination and expectations between the DAO and game developer, in this case Animoca Brands. Considerable thought should go towards this.
If games allow the tokens to be removed from earning pools too quickly, the earning pool is drained and no longer distributes tokens to players. This means either a) it needs refilled, or b) the earning pools is closed. It is the responsibility of the game developer to properly manage and maintain the earning pool’s distribution speed for longevity. For more proposal, id like to see:
All of these expectation require reasonable consent by the game developer. Before the DAO can allocate funds in this way, the developer should give a nod to the expectations set. If any developer mismanages the allotted tokens, this could affect or prevent future allocations.
My stance today: Coordinating and distributing a significant number of ApeCoin through Benji Bananas encourages friendship and legitimate dealings between Animoca and ApeCoin DAO.
We’re almost through the idea phase! Here is day 6 update:
I’ve had a lot of fun hearing feedback both here and in private communications. ApeCoin truly represents an opportunity to be the heart of gaming, entertainment, and events throughout the metaverse. The upcoming Yuga Labs’ Otherside game has great potential to bring many games together in one ecosystem. As a gamer, I will likely be a guild master who helps new players.
I am friendly towards Animoca because I believe in their business practices and track record. Today, they announced the acquisition of the company behind the famed Need For Speed franchise. It is my belief that they will work to make these games easily accessible and also compatible with Yuga Labs Otherside and others to promote the ideals of an Open Metaverse.
I have taken all of the feedback recieved across over a dozen private messages, discord voice calls, and these forums. One thing I did not tolerate: Refusal to work with Animoca Brands.
My proposal is to allocate a significant number of ApeCoin to the initial earning pool (smart contract) for Benji Banana’s Play-To-Earn game. This is the first game that will integrate the ApeCoin DAO’s token. There will be many more through cooperation and proper stewardship.
Tomorrow morning will be my last update on this AIP Idea. In the coming phases and steps before voting, we will need to ensure this is the direction that Animoca has planned for Benji Bananas. We will seek their agreement to manage this earning pool and an additional larger pool for Free-To-Play players. If it matches their direction and strategy, voting will move foward.
How would you respond to the Animoca F1 Delta Time controversy and the legitimate worries by those effected by the shut down with little to no heads up that their investments would become bricks.
How would you feel about instead offering to buy Benji Bananas from Animoca if it was indeed worth buying and could provide a healthy ecosystem for the DAO.
Is there a way that the game can generate revenue or do you believe it should just be a siphon for the DAO.
@Papasito asked: How would you respond to the Animoca F1 Delta Time controversy and the legitimate worries by those effected by the shut down with little to no heads up that their investments would become bricks.
Hey, I spent some time researching the topic of F1 Delta Time. After this AIP Idea moves forward we’ll create “continuing the converation,” and gaming threads. Your comment relates to F1 Delta Time which is regarded as one of the first major NFT games that was released in 2019.
F1 did not successfully renew its licensing agreement with Revv Motosport (Animoca’s Car Game Division)which affected NFT buyers as the game was forced to shut down.
Interestingly todays acquisition announcement of Eden Games includes Need For Speed, Porche Unleashed, and F1 Mobile Racing game. We’ll speculate on this more elsewhere.
@Papasito asked: How would you feel about instead offering to buy Benji Bananas from Animoca if it was indeed worth buying and could provide a healthy ecosystem for the DAO.
This feels more related, I do not think our DAO should directly own games. I’d perfer to allocate tokens and responsibility to game developers. I do not want to snapshot vote for changes to game mechanics, and I believe it would result in less engagement in overall DAO votes.
Not everyone here is interested in the earning mechanics and player experience inside of these games. I think allocating tokens to be distributed through games empowers developers.
It also creates accountability that DAO voting directly controls. If a developer is not performing well, failing to renew or recieve new allocations could really affect the future of their game.
@Papasito Is there a way that the game can generate revenue or do you believe it should just be a siphon for the DAO.
This where you and I are going to have disagreements. And that’s okay, I’ll respect that. I do not think an allocation like this will result in an easily measurable revenue increase. It can create 100k new holders, it can attract developers, mainstream news attention, raise land prices, etc etc…
In recently passing AIP-3, we have budgeted 19,840,000 ApeCoin towards game development and incentives. Between now and December 31st, we will effectively distribute these tokens through major games and indie game developers. Using ApeCoin to buy games outright to be owned by the DAO could be risky for token price. Tokens used to buy companies or games or rights to games will be sold on the open market to be turned into fiat currency.
Tokens distributed through games like Benji Bananas and the upcoming Yuga Labs’ Otherside are used as currency by the players. Effectively we will travel through the new metaverse using these ApeCoin as currency within the ecosystem. Allocating earning pools to games looks to be a safer way to slowly distribute tokens. We want to avoid millions going onto the crypto market at once, while still getting them into the hands of more holders!
Category: Core - Ecosystem Fund Allocation
Author: 0xSword (Todd)
ABSTRACT
This document proposes the use of APE Ecosystem Funds to grant additional ApeCoin to the Benji Bananas Play-To-Earn pool. Outlined below are allocations for an additional 425,000 ApeCoins to be added as incentive for the first game making use of the ApeCoin token.
MOTIVATION
The main motivation behind this proposal is to meet and exceed Animoca’s initial alottment of 125,000 ApeCoin. It is proposed that by doing this we can encourage play-to-earn games to be viewed as more viable in markets worldwide. There are no additional costs to implement or add these funds to the existing pool. The amount proposed for this alottment will be paid for through the APE Ecosystem Fund for the use of accelerating adoption of the Ape Token.
RATIONALE
Animoca’s Benji Bananas game is the first that will integrate earning these tokens through ingame actions. There have been 5000 minted passes sold that allow the holders to earn a new item ingame that can be transferred or traded for ApeCoin. It was recently announced that 100% of the ApeCoin used to purchase the passes will be available for initial pool.
Allocating a significant number of ApeCoin to the earning pools of this game can effectively distribute the token worldwide. There are debatable options for doing this. All players of the game who earn tokens effectively become holders of a small amount of ApeCoin.
GAME INFORMATION
ECOSYSTEM FUND
There are numerous benefits to allocating ApeCoins towards games. Each use case is unique based on the developer and player base. These type of allocations and support from the DAO can attract news attention and distribute tokens to more holders.
EXPECTATIONS
It is the responsibility of the game developer to properly manage and maintain the earning pool’s distribution speed for longevity. It is the assumed responsibility of the development team to ensure the allocated tokens are fairly distributed through earning mechanisms.
SPECIFICATIONS
Animoca has currently allocated 125,000 ApeCoin to the initial pool.
DAO has currently allocated 0 Apecoin to the initial pool.
STEPS TO IMPLEMENT
Animoca announced a smart contract and legal audit expected to finish in April.
Upon creation of this initial pool the DAO will transfer 425,000 additional ApeCoin.
If Anomica agrees to deploying a second earning pool for F2P players, addtional allocated.
TIMELINE
This is the first game to utilize ApeCoin and the play-to-earn feature is expected to be launched within the month of April. Currently 5,000 membership passes are distributed.
OVERALL COST
425,000 ApeCoin to be added to the P2E earning pool of this game.
Undecided additional ApeCoin to be added to the F2P earning pool of this game.
THANK YOU EVERYONE
We’ve reached day 7 and this idea has grown.
For the next steps, I’ll work with moderators to further the proposal. I’ll also setup a thread later today called “Continuing the Conversation,” where we can talk more casually and I can post updates.
I’d like this proposal idea to go to a snapshot vote. For that happen we will need to ensure this is the direction Animoca would like to go with their game Benji Bananas.
Thank you again for the support as I’ve present this idea.
It has been an interesting experience to defend, grow, and research for it.
This topic was automatically closed after 7 days. New replies are no longer allowed.
Thank you @0xSword for your ideas and the ApeCoin DAO community for the thoughtful discussions. A moderator will get in touch with the author to draft the AIP in the appropriate template. Once the AIP is drafted and meets all the DAO-approved guidelines, the proposal will be posted on Snapshot for live official voting at: Snapshot
Follow the here as further updates will be posted here in the comments. @0xSword please see your messages for the next steps.
Hi ApeCoin DAO Community,
@0xSword has responded to our questions and provided an update to the AIP Draft. This AIP is now in our review.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-moonkt
Hi ApeCoin DAO Community,
We have sent a list of follow up questions to @0xSword on June 9th. We await answers.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-moonkt
Hi ApeCoin DAO Community,
@0xSword has responded to our questions and provided an update to the AIP Draft. This AIP is in our review once again.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-moonkt
Hi ApeCoin DAO Community,
@0xSword has requested to withdraw their application. This AIP will be moved to and remain in the Withdrawn AIPs category.
Kind Regards,
river
