MakerDAO Makes A Bid For Dai To Serve As A ‘Real Parameter’ Of Dollar-Pegged Value For Video Game Economies
MakerDAO Makes A Bid For Dai To Serve As A ‘Real Parameter’ Of Dollar-Pegged Value For Video Game Economies
March 13, 2020
MakerDAO Makes A Bid For Dai To Serve As A ‘Real Parameter’ Of Dollar-Pegged Value For Video Game Economies
MakerDAO Makes A Bid For Dai To Serve As A ‘Real Parameter’ Of Dollar-Pegged Value For Video Game Economies
March 13, 2020

MakerDAO, the organization behind the Dai (DAI) stablecoin, is making a bid for Dai to serve as a “real parameter” of dollar-pegged value for video game economies.

On March 11, it has been reported in a blog post that as blockchain and crypto gain increasing traction with the gaming industry, MakerDAO argues nonetheless that “soft currencies” for in-game economies “don’t always feel authentic.”

The organization wrote:

“Like flight miles or credit card points, a soft currency’s unit of account isn’t always relative to the value of an actual currency. With Dai, players know exactly how much their game skills are worth.”

Proposing that Dai can serve as key integration between decentralized finance (DeFi), fiat-gateways and video game economies, MakerDAO is launching a Dai Gaming Initiative Bounty Program to incentivize developers to build using Dai for rewards.

However, MakerDAO says that it is open to seeing Dai integrations in both legacy games and blockchain games by observing that both are developing strategies at levels of increasing economic complexity to shape player engagement and behavior. 

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With the advent of blockchain games, a new category of crypto assets, known as non-fungible tokens (NFTs), has emerged. Their key feature, well-suited for gaming, is that they have unique and collectible, rather than currency-like — properties.  

It has been analyzed that MakerDAO’s approach is both to widen the use of Dai in online gaming marketplaces and to establish a series of partnerships with NFT creators to design Dai-branded, in-game blockchain assets.

The bounty program is tiered into four categories, beginning with a 5,000 DAI prize for the best DSR integration in a game. DSR or Dai Savings Rate is a DeFi feature that allows Dai holders to lock their tokens in a smart contract to earn additional Dai as dividends.

It has also been analyzed that two further prizes, at 2,500 DAI each, are offered for the best player-versus-player experience and the best player-versus-evil experience. For this latter, “ingenuity” will apparently be rewarded. 

Thus, lastly, two 1,500 DAI rewards will be given for the most creative integration of Dai in a game. 

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Source: blog.makerdao.com | cointelegraph.com | Image: theblockcrypto.com


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. She is an archetypal writer, who loves to create her own little world with words and locutions. Apart from this, her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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