HACHI AKITA GameFi Proposal

🤝 DAO Proposals
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Summary

The Akita DAO will work towards creating a GameFi experience for Ethereum users with the possibility to activate additional chains in the future. Users will create a character based on pre-existing lore and enter into this gaming environment to explore, unlock and clear maps for entertainment, increased chances of higher quality loot drops which may provide enhanced benefits to those who engage with the DeFi components.

Motivation

Akita DAO members have continued to express interest in gaming and DeFi experiences. This proposal would initiate a process to research and develop a product which satisfies those desires, and in doing so, create incentives for users to choose to have gamified experiences where they can store their tokens and earn rewards. The activity that rewards them will center around a role-playing game with the aim of releasing in Q2-Q3 of 2024. With renewed interest around more positive macro crypto market activity, DeFi, GameFi, etc, this new product would be a great way to increase holder counts for $AKITA and $HACHI tokens…

Specification

Before we begin building the gamefi staking dapp, version 0 would be to fork a good 3rd party solution as it is going to be cheaper and quicker to implement while also gives us broader exposure.

The initial phase will require a small group of Akita DAO stewards to interview previously successful blockchain-based game development studios to obtain timeline and cost estimates based upon our scope. No budget should be required for this phase, as it is primarily exploratory. Once a studio is agreed upon, then plans for the launch should be solidified by the DAO so that all production, promotional, and administrative costs are included in the DAO’s Operational Budget. Any payments for service will be based upon milestones, with DAO stewards giving final approval that requirements have been satisfied.

Benefits

While this product should be seen first as a potential fee-generating revenue source, this game will increase token holders and transactions of the $AKITA and $HACHI tokens by engaging the larger community to participate, have fun, and earn rewards through their actions. Through this GameFi experience, the Akita DAO can also recognize active and contributing DAO members for special experiences or rewards. In the future, additional communities may ask to be a part of our platform, and further increase active users.

Drawbacks

This is a costly endeavor, in both time and financial resources. Budget allowance could directly affect the timeline and capability of the final product, so it is wise to consider allocating a larger upfront budget and avoid the need to return to evaluate in the future. Initial estimates figure the cost could be in the $100K-200K range. In order to establish a funding pool for Development, including this game, the Akita DAO should allocate a portion of $AKITA tokens to be divested from the treasury. This could be done through a TWAP, or some other method which can slowly convert $AKITA into ETH and/or stablecoins. This development fund should have earmarked funds for this game development, with the understand that any unused funds could be allocated to future projects.

Voting

Yes, start investigating studios and divesting $AKITA to build a Game Dev Fund.
No, do not proceed.
Abstain.

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Visual Pitchdeck

https://www.canva.com/design/DAFxi7rdR8c/JRxfbpGqqwcxMbGj2anD1g/edit?utm_content=DAFxi7rdR8c&utm_campaign=designshare&utm_medium=link2&utm_source=sharebutton

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If you’re willing to spend a lot of money on the build and marketing, it’s important the scoping and planning is done properly. Regardless who does this part, I do not think it should be done at no cost.

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I think the summary needs to be clarified. IMO, the summary should be enough to gain a high-level understanding of what we’re trying to achieve.

You’re proposing we create something GameFi related. Is it the fork you’re mentioning below or the bigger and more costly initiative involving a game studio? Is this proposal for the ‘no budget’ part only or the $100k-200k effort? Timeline?

These are good things to include in the summary.

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Further up you mention a launch in Q2-Q3. Building a relatively simple game can easily require a couple of months. How much money are you saying we need to convert and what’s the timeline for that conversion?

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Sure can do. Before editing doc. will clarify that the fork would be version 0 and would only cost $5k or so to fork a staking platform of our choosing.

The funding required is primarily for the main build.

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7

Wouldn’t the fork also cost money in terms of staking rewards?

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The cost of the initial fork, interview phase, scope and planning would then be deducted from the 100-200k budget allocation

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I think we need to do more initial research to determine a realistic sense of the budget. Anyone who has leads on devs that focus on gamefi staking dApps can feel free to post them here. We can also discuss this with whatever devs are responsible for bridging HACHI to an L2.

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Staking rewards was included in the cost range but we’re also looking into various staking models while interviewing and getting estimates with dev companies.

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