Unfortunately, our efforts to gain traction on our soldier society NFT collection have not came to fruition, we haven’t been able to sell enough supply to meet the requirements of our DAO, and that is hurting our funding strategy to develop our vision and roadmap, where we had anticipated to include a game of our own. Unfortunately, game development is not a part of our competences, so we wouldn’t be able to carry this out on our own, in-house, needing a game studio partnership or additional hefty funds to carry out what we had set out to.
Still, our commitment to our community and gaming industry is still stronger than ever, so we are not abandoning our vision of being an important connection between web3 and gaming, so we are announcing our pivoting to something that we believe will have potential to be bigger, and reward participants even more — a decentralised social web3 fund.
- What is this all about? You might ask.
The DAO will be proactively looking to invest its treasury in emerging NFTs/Tokens in the Web3 Gaming, eSports and Metaverse landscape, whether through XPAD, other launchpads, or even secondary markets or OTC deals, with the aim of increasing the value of the treasury and vault holdings. Blue chip NFT collections will also be part of this strategy if the floor prices and the members decide to act upon so. Leveraging P&E games and guilds for playing, collecting rewards and actively participating in lending will also be an active part of the DAO strategy.
- How can the community be involved? How does this fund become social?
This fund will have two systems at its core, a treasury co-ownership system that will be driven by a NFT passes (unique keys) and a governance system that will take into consideration not just ownership but also, and more importantly, social reputation. Holding a NFT pass, will grant you a share of the vault of investments made by the fund if and when these become fractionalized and auctioned in the future actively working as a share inside the fund. But not all holders are made equal, and we all know that there is power in the community, so how can we effectively reward meaningful contributions and positive actions for the collective fund? That is where the second system come into play, by acting in accordance to the greater good with positive actions such as, introducing good investments or voting positively in projects that actually end up returning a good profit, performing research and due diligence, participating in gaming guilds with owned web3 NFTs, or other positive contributions., Based on their positive actions, members will be rewarded as a form of gratification (similar to a way a player earns XP and increases its level) effectively granting additional value to the user, ideally creating incentives for positive actions and aligning everyone’s interest in the same: searching for the best alpha and investments there are in the web3 gaming industry and support them to become a success
The main goal will be straightforward — help the DAO make the best investments in early NFT projects or even blue-chip NFTs that will help increase the overall vault value, so that in the end, all members are rewarded when the vault ends up being fractionalized and sold for a greater amount that the sum of all its spendings in between — other mechanics that produce value are still under analysis.
- How is the fund actually funded? For funding of these initiatives, we’ll be using the revenue for selling the NFT pases as a main source of income. Other than that, we’ll also be channelling additional sources of income to better prepare our treasury for investments, such as:
- Renting gaming NFTs
- Royalties of secondary market pass sales;
It might also not be the one we expected, but in the end, we believe that this road is one where members can have a real say and a potential higher impact in unleashing the power of web3 gaming, one investment at the time.
If you own a Soldier, join us on Discord, in the Soldier Society channel where the conversation will now start about how to build the best framework for this transition to start as soon as possible.