DAO Core Contributors
To take a step towards bringing the Merit Circle DAO to the vertically integrated gaming DAO we envisioned, we would like to share some negotiations that have been going on.
Furthermore, we would like to use this proposal to create a framework for future projects that will live under the Merit Circle DAO. Edenhorde is one example, but in this same proposal we share the negotiations with two senior developers who have created a game that we’re aiming to launch under the Merit Circle DAO.
In this proposal we share the financial breakdown of these projects and thereby indicate the way we envision sufficient in the near future.
Ever since we launched our plans for Merit Circle, we have strived towards making the Merit Circle DAO vertically integrated in the GameFi sector. This entails a wider set of activities than solely investing in partner projects and recruiting gamers for the DAO.
The first step towards showing what we are capable of is Edenhorde - the first creative project by the DAO: The Edenhorde world will be seeded from a series of interactive chapters written. Owning an Edenhorde NFT will allow you to vote and receive additional NFTs during this story arc. However, this will not be the final station, rather it is a start.
To make an extra step towards bringing the Merit Circle DAO towards the vertically integrated gaming DAO we envisioned, we would like to share some negotiations that have been going on.
By this proposal we want to ask the approval of the DAO to further negotiate the terms with two skilled senior game developers, who have been working on an interesting gaming project for the last year. More information about this specific game will be shared at a later stage, however we felt that it’s only right to include the entire DAO at this early stage in the negotiations.
Please note that this game we’re mentioning has no direct link with Edenhorde. It will have a separate entity and not include Edenhorde’s lore or visuals.
How does this all tie back financially to the DAO?
Beneath, you can find a list of bullet points supported by a visual that explains the way we currently envision the revenue to be split among the game developers, the Merit Circle DAO and those who support the Merit Circle DAO.
- There will be a split of revenue between the Merit Circle DAO and the game developers (ratio will be in favor obviously of the DAO);
- The DAO will provide a development budget which will be sufficient to get the game developed for a public release;
- The initial DAO investment will be recoupable based on the revenue generated from mints, secondary sales and/or other revenue streams;
- The developers will be responsible for the development of the game, the vision, the art direction and obviously improvements based on community feedback;
- The Merit Circle DAO will be responsible for the other components such as marketing, in-game economy design, community building & smart contract development;
- We suggest a percentage (f.e. 7.5% and 2.5%) of the revenue goes towards MC stakers & Edenhorde NFT holders - the remaining part will be headed towards the MC DAO Treasury (and thus MIP-7). – In the case these projects involve its own token, a retroactive airdrop can occur in a similar breakdown;
- $MC holders and contributors to future projects (in this case Edenhorde) might have a preferential spot in future whitelisting rounds for NFT drops, land sales and others, this will naturally be decided upon per each game.
- Last but not least: Obviously $MC holders and Edenhorde NFT holders will be our first group of testers of the game
Added based on discussion: For the avoidance of doubt, the proposal vote will limit itself to:
1. Intention to move ahead with the new creative gaming project
2. Mandate for the Merit Circle DAO to strike a high-level deal with the parties involved in the gaming project
3. Intention to create a form of value distribution from gaming project for Edenhorde NFT holders and $MC tokenholders”
More information about the team, the game direction, the branding, the timelines will follow at a later stage.
Naturally, each of these games and projects that we will house under the Merit Circle DAO will go through a separate proposal.
We are in a phase of negotiating final terms and prior to finalizing it, we want to ensure it is in line with what the community wants… We want to share this development with the entire DAO and thereby confirm the direction we’re heading towards. We want to become a DAO in the GameFi sector that does more than simply investing and recruiting gamers. Imagine a future where the Merit Circle DAO develops games itself.
The above terms are meant as a wireframe for future negotiations with game developers, game studios and internal projects that will go through a similar process of negotiations.
The above visuals represent the flows of funds that go through each of these projects. As mentioned above, the game developers will receive a certain development budget to bring the game towards a suitable public launch.
As mentioned above, this is merely a framework for future proposals and therefore does not include any specific numbers, merely percentages.
How can we agree on something that we haven’t seen yet?
We are creating this proposal to share what has been an ongoing goal within the Merit Circle DAO. That is, looking further than merely investing and recruiting gamers. Through creating our own products and thereby developing financial upside among all involved parties, we are creating a more robust and resilient DAO. It will allow the DAO to create more synergies (and by extension more value for-) with existing branches, such as the investment- and the gamers branche that de DAO has been scaling rapidly.
Each party involved in a game development partnership will be rewarded accordingly. The above breakdown of financial benefits for those participating in these projects can be seen as a framework that we can take and use for future projects. On that note, we will release a separate proposal for the game we have briefly discussed in this proposal.
How does the game discussed in the proposal relate to Edenhorde?
As a perfect example of the way we envision the future, we see a situation where multiple projects under the Merit Circle DAO all benefit from each other directly and indirectly, creating stronger games and a more valuable Gaming DAO ecosystem. However, Edenhorde is a completely different entity that has no direct link to this game. This game will have its own look and feel, lore, presence and anything in between.
The development of Edenhorde comes down to a series of interactive chapters written. Owning an Edenhorde NFT will allow you to vote and receive additional NFTs during this story arc. However, this will not be the final station, rather it is a start. The future of Edenhorde will be shared along the way, in its own fashion and manner.
Why don’t we focus on one thing instead of adding new projects?
The agreement is structured in a way that it will be mostly independent teams that can develop these games, the game will benefit from the DAO’s brand and expertise in smart contract development, design, marketing and community-building. In addition to a gaming community that can bootstrap and battle-test the games. Where-as the DAO benefits from the traction the game generates, by having a financial stake in the game and brand exposure to the game.
In this way, the partnerships shouldn’t take away a lot of time from the activities of the core contributors, while they will create a lot of value for the DAO. We will always aim for quality over quantity and therefore remain strict as to which projects we interact with. If anything, we want to remain focused on improving rather than increasing.
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