Decentralized Autonomous Corporations in Space Atlas
TL;DR: Read the DAO NFT Pool proposal here.
So yesterday we wrote about airplane crashes, now we move to space ships. Yesterday I became aware of Star Atlas, a new space-themed MMO that is launching soon. It’s like EVE: Online, or Star Citizen, but it incorporates blockchain mechanics and will run on the Solana ecosystem.
I’ve been a gamer for decades, and I’ve always loved space fighters, going all the way back to XWing vs. TIE Fighter and Wing Commander. I spent years playing EVE, but it was a huge time suck. I made a personal decision to scale back my gaming activities some time ago, as I figured that I wanted to spend more time playing the game of life. I still enjoy the occasional causal game, but I purposefully stay away from AAA open ended games, especially MMOs. I’ll admit that my personal and professional life has benefited from this decision tremendously. I treat investing and crypto as a game these days, running up my score via trading and yield farming. It’s much more lucrative than playing in imaginary worlds, and was one of the main reasons that I shied away from games like Elite Dangerous. Spending an hour of my day flying a trade mission across a dozen systems just did not seem like a productive, let alone enjoyable, use of my time.
This Tweet came across my TL yesterday and took up most of my day. The game is still in production so I read through the whitepaper and was seriously impressed. It seems to be iterating on all of the latest and greatest games of the last couple years: EVE, Star Citizen, Elite Dangerous, and No Man’s Sky, among others. It incorporates much of the game play mechanics that you would expect from these games, but then merges with with blockchain tech: in-game currencies, governance tokens, NFTs, and a defi ecosystem that includes lending, AMM and yield farming. As you can expect, I am very excited to see how this plays out.
The game is launching in several phases, the first will be the Galactic Asset Offering (GAO) in which in-game assets will be sold as NFTs on Opensea. Mining, staking and yield farming will be available during this time, but the assets won’t be playable until phase two, when an MVP browser based mini-game will be available. The target is July. There will another phase, a shipyard-configuration module before the final pre-sale before launch. There’s no ETA on when that will launch, as far as I know.
Prior to the GAO will be this ReBirth: Genesis NFT sale. It’s fascinating. They’re going to sell a series of thirteen meta-posters, each one available per week. The price for each series will go up, and they’re divided into tiers that will unlock certain rewards or in-game bonuses. On top of that, anyone collecting all thirteen NFTs will be able to claim a special fourteenth NFT. Details are the NFT rewards are light right now, but I can imagine they’ll be sufficient for the investment.
Obviously, I’m not willing to spend $524,000 on a series of NFTs, but I assumed that there was some group that was. I had read about a DAO that had bought an NFT for $5.4 million, so I went looking to see who was actively fundraising to pool resources.
I popped on the Star Atlas Discord and quickly found a guild named Interstellar Alliance, and found a dao/pool discussion already ongoing. No one was putting any serious proposals together, so of course I went to work and started writing.
The general idea is to use a DaoHaus/MolochDao guild to pool resources. Stake in the DAO –shares — will be proportional to investment. Ultimately, the goal is to purchase all thirteen NFTs to earn the last one. From there the dao can vote on what gets done with them afterward. This could be a speculative play, to sell the collection off or to farm rewards that come from them. The collection can be bundled and tokenized in a way that they can become tradable, or the assets can eventually be bridged over to Solana for use in game. Those details will have to be worked out later, as I’m primarily focused on putting together something that can be done in a trustless manner. There’s been much interest in the proposal, and we already have 19 pledges for a minimum total of over $39,000. We still have a ways to go, but we have enough interest to move forward. I think there will be enough excitement once things start moving that we’ll have no problem finding full funding. For now I’m focused on Kovan testing to make sure that I understand the gas costs needed to operate DaoHaus and Gnosis, and working out additional details with the community.
This project really fascinates me. It bridges daos and smart contracts, speculative investing, community management, and opens up an opportunity to learn how to dev on Solana, (and learn Rust). I’m going to be digging into this over the coming weeks to see whether operating or being a part of one of these in-game DACs could actually become a viable career. Imagine, playing a video game and making enough real-money revenue to live off of. It sounds like the future.