Merit Circle studios: a breeding ground for creative outlets

Innovation is born through collaboration, creativity and perseverance. Here at the Merit Circle DAO, we cherish innovation and, owing to our unique position within the play-to-earn gaming industry, it’s something we’re able to nurture.

Under our studios vertical, we combine our skillset, expertise, community and significant treasury to unlock the potential of others and offer the perfect breeding ground for creative projects. It’s a space where, as well as actively publishing our own concepts, we can incubate new games and push ground-breaking projects.

We are passionate about contributing to this industry and we know that the Merit Circle DAO is bigger and broader than we initially thought possible. We’re ready to put ourselves in the shoes of game developers, so let us take you on a tour behind the scenes of our studios vertical and show you how we plan to do just that.

It starts with an idea

One thing that we can all agree on is the rapid pace of innovation within the web3 space. What started as an external means of exchanging value has rapidly transformed into a multi-trillion dollar industry housing everything from financial products and digital art to complex in-game economies. What’s more, it happened extremely quickly.

The Merit Circle DAO’s contributors have all gained extensive experience and built an extremely strong network within this sphere. The scale of this network has propelled our investment vertical to its leading position today: we are now the preferred partner for many web3 native teams looking for smart capital to help turn their visions into reality.

But what about those teams with great gaming-industry pedigrees who don’t have the relevant crypto knowledge or experience to succeed? Over the past couple of months, we’ve spoken with dozens of game developers who are eagerly waiting to make the jump into the web3 space and experiment with more creative game economies, but simply lack the knowledge.

Although we’ve been sharing our knowledge with the portfolio companies in our investment arm, that’s just the beginning. We want to help teams sitting on great games to make the move to web3. What better way to do this than through the full power of the Merit Circle DAO? Our ecosystem offers funding, knowledge, experience and, last but not least, a community of gamers eager to get their hands on new games.

As well as those teams keen to make the leap into the wonderful world of web3, the Merit Circle DAO is a crypto-native organization with dozens of passionate and creative contributors. Often, ideas are born from internal sessions and simply discussing the possibilities this space has to offer.

With nearly everything we need in-house, why wouldn’t we share our resources? In short, our studios vertical is all about bringing great products to life, and a good initial example of this is the world-building concept, Edenhorde.

Edenhorde

Edenhorde evolved from within the Merit Circle DAO. Internally, we created a task force that dedicated most of its time to the realization of Edenhorde, a world-building project with an extended focus on developing IP and a powerful brand. After determining the initial scope, we reached out to a few expert external contributors to help make Edenhorde a reality.

We approached Andy Ristaino, an Emmy award-winning illustrator, who worked on the initial set of NFT artwork and continued working with him to create additional NFT artwork to accompany an interactive story. This story is written by Celia Blythe, a published author, whose focus is on writing and developing an ongoing eight-chapter story, aimed at immersing people in the world of Edenhorde.

Throughout the launch period of Edenhorde, we surpassed our initial expectations by trending on OpenSea (as a result of having the highest volume in that period) and selling out the collection completely. With three chapters released and an active community involved, we’re looking forward to everything that’s yet to come. We’ve had a clear goal from the beginning: to create a strong IP while adding both value to the Edenhorde community (the holders) and the Merit Circle ecosystem.

Edenhorde is run by the Merit Circle DAO with external parties contributing to its success. While we have plenty of our own ideas similar to Edenhorde, we feel that, in the long-run, incubating concepts from existing parties is more scalable than doing everything in-house.

Incubation

As web3 evolves and our network continues to grow, we’re seeing an influx of talent from all corners of the games industry. Some of these teams have real development expertise and phenomenal creativity, but the world of crypto is completely new to them.

This is where our incubation model comes into its own. We have developed, and are continuing to build, industry-leading capabilities in key areas that are unique to blockchain gaming: economy design and analysis, smart contract development, go-to-market strategy.

These skills, combined with the experience we continue to generate from the investment and gaming operations of the DAO across multiple games, put us in a position to help these talented developers with complementary skills from the earliest stages of development.

In this scenario, we bring a mix of capital and expertise to work side by side with developers to help them solve problems, fill knowledge gaps and give the project the best chance of success.

Project Loki

We have already identified our very first studios’ game, Project Loki. Different to Edenhorde, this project has already been under development by an external development team for over a year. Now, we’re getting closer to a point where this can be seen in the public eye.

We can’t share too many details yet, but it’s a fun arcade-style multiplayer game that is easy to learn but hard to master, and it’s an absolute blast to play with friends, guildmates, the DAO community and strangers.

It started life with a small team of developers who have worked on some fantastic PC games. When they approached us, they had a fun prototype and some great ideas for bringing the project to life in web3.

As the discussion progressed, it became clear we could add a lot of value by getting more deeply involved than we would with an investment project. Specifically, we’re providing feedback, input and help on everything from game design to tokenomics, marketing and community building. More than anything, our goal for Project Loki is to make a game we are proud to put under the Merit Circle banner.

Value creation

Sample of a proposed framework for revenue distribution

The Merit Circle DAO’s ecosystem is ever-evolving. In previous articles, we’ve looked at our verticals and how each will add value to the ecosystem as a whole, and it’s no different within the studios vertical. Every single game that launches under the Merit Circle DAO will create value for all parties involved and, when Merit Circle is one of those parties, it will generate value for the DAO too.

The concept of this value distribution has been covered in a recent proposal relating to Edenhorde, MIP-10, that has been accepted by the DAO through governance. In this proposal, we see the financial breakdown of a framework for future projects that will live under the Merit Circle DAO. As laid out in this proposal, the DAO’s aim is to reward all those contributing to the DAO as a whole, such as game developers, $MC stakers and, in the case, Edenhorde NFT holders.

This proposal is merely a framework and does not mean that all future games will follow the exact same breakdown. This gives us the chance to create a certain financial model for all upcoming games that we’ll publish and to show that we have the intention to create sustainable models.

However, these benefits are not limited to games solely. Imagine the marketplace providing benefits to $MC stakers or Edenhorde NFT holders, all because they are part of the same ecosystem. We simply want to bring utility to every asset in the Merit Circle DAO ecosystem and tie these up together wherever relevant.

In future, when we will have multiple projects fall under the Merit Circle DAO umbrella, we will remain conscious of how this financial model will mature. Distributing revenue from one game to all other projects does not make sense if there’s no clear link between the games, nor if the revenue distributed becomes minimal. We will have to constantly readjust and reiterate these models based on the DAO’s development.

One thing that will remain consistent is our desire to develop, create and innovate. That said, there will always be opportunities for our community to enjoy additional benefits of being part of our ecosystem. Think airdrops, whitelist spots, ability to play games in beta before everyone else, exclusive physical drops; you name it. Wherever we can deliver value to our community, we will.

Taking off with a blast

Working closely with the investment team, the studio arm has been steadily growing its presence within the Merit Circle DAO. We are in talks with multiple experienced developers and gaming studios looking to make the jump to web3 and we are waiting to finalize terms for the next big game already mentioned, Project Loki.

To kick off our studios vertical, we are currently establishing a strong set of partners that can assist us with diverse projects. We are more than confident that the next wave of gaming will live under the Merit Circle umbrella and we have laid the groundwork for any project to begin their journey in the blockchain gaming industry.

We are looking forward to seeing our current projects evolve into immersive experiences and take our community along with us. With each conversation, we’re getting more excited about the future and all that the Merit Circle DAO will offer. It’s going to be one helluva fun ride!

To stay up to date with our journey, follow Merit Circle on these channels:

Twitter: https://twitter.com/MeritCircle_IO
Medium: https://medium.com/@meritcircle
Discord: https://discord.gg/meritcircle
Website: https://www.meritcircle.io

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Merit circle is creating a DAO that develops opportunities to earn through play for people who want to help build the metaverse

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Merit circle is creating a DAO that develops opportunities to earn through play for people who want to help build the metaverse

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