The developers of both the play-and-earn NFT gaming Alien Worlds announced the introduction of the in-game DAOs—or decentralized autonomous organizations—under the fresh Planetary Syndicates concept to increase competition among various communities. There is an NFT-based game, Alien Worlds; players can gather and exchange one-of-a-kind digital objects that were predominantly created somewhat on a WAX blockchain. Within Alien Worlds, people compete to gain Trillium (TLM), an in-game currency required to manage one of the 6 competing DAOs. Smart contracts, the software that runs autonomous programs, are used by DAOs, and members utilize governance coins to vote on multiple alternatives.
Want a simple P2E with sustainable economy and simple mechanics? Try @LegionsCrypto! They have on going events right now and you can win some prizes and maybe use that as a starting. LFG!
— KoroNFT (@KoroNFT101) October 21, 2022
According to Sarojina “Saro” McKenna, Co-Founder of Alien Worlds, it’s the first moment in history where DAOs have been placed in a game to fight against one other like squads and organize or build their respective NFTs.” According to McKenna, Syndicate participants stake TLM to acquire governance coins, which they can choose to help regulate the DAO and its digital products. The in-game DAOs may cooperate and engage in rivalry. Even though Alien Worlds uses the 3 blockchain systems in some capacity, the DAOs were created mainly for WAX. McKenna added that the under-involvement of participants in comparison to the often enormous coffers of DAOs is indeed a problem. On the other hand, “you can also engage in genuine rent-seeking in which a few whales drain the money,” she continued.
According to McKenna, Alien Worlds developed “excellent delegated democracy DAOs” by developing on WAX. It’s lovely to have a vibrant community that adores the metaverse & creates its very own cool things, added McKenna. “Scale with decentralization means the opportunity for long-term, steady growth, so it’s wonderful to have scale,” the author argues.
NFTs are algorithmically distinct tokens that may be attached to both virtual and physical items to claim ownership, validity, or group affiliation. Even though Alien Worlds does not have the same NFT trading activity level as Ethereum-based Axie Infinity did in its heyday, blockchain data indicates that it has a substantial player base. The rules of conduct for Alien Worlds prohibit users from utilizing numerous wallets to exert power, but McKenna claimed there’s no method of ensuring that this restriction isn’t being circumvented.
Atomic Hub, a WAX NFT community, reports that Alien Worlds NFTs reportedly produced a cumulative trading activity of around $42.7 million so far but only approximately $4,600 worth within the previous 24 hours.