🔥Problems Targeted
Last updated
Last updated
The game market system is pretty unfair - most of the money made from sales goes to publishers, digital distribution platforms, and marketing. And, in case the game developers are in need of funding for their next project, they will be obliged to give away their equity, commit to a single publishing platform, or in some cases even sign off their intellectual property, diminishing their earning potential.
KlayDAO’s mission is to provide indie game developers with a new option to fund their ideas - by pre-selling their in-game assets in the form of NFTs. NFTs are undoubtedly the most exciting evolution for digital goods because it benefits from the digital scarcity that the blockchain brings along with proof of ownership and origin. Adding a fungible token model with an ERC20 on top of an NFT collection is the perfect tool for composability enhancements and to commoditize some aspects of the NFT.
With an undoubtedly rising popularity and adoption of cryptocurrency, and in particular, NFTs, KlayDAO will bring a tested model of funding to the creative industry. In turn, providing creatives with the solution to find the funds and ensure the successful execution of their idea.
Buyers of NFTs should be aware that generally there is no limit on the supply. The vast majority of purchased NFT’s are going to be worthless in the future. However, that mostly applies to visual art pieces, such as digital paintings. However, being a part of an in-game ecosystem will dramatically improve the long-term value and yield of such assets.
Gas fees are the fees paid to miners contributing to the proof-of-work algorithm backing the Ethereum blockchain and verifying transactions. They are expensive enough right now to the point where creating an NFT for EVERY in-game item would be impossible and in theory, infinitely expensive. For developers to implement NFTs successfully, the functionality would have to be more targeted unless they planned on creating their own cryptocurrency to support the tech.
