Introducing GamerToken’s Democratic Staking System
When it comes to community empowerment, the stakes are high.
In addition to building bridges between the walled gardens of gaming economies, GamerToken is all about empowering gaming communities. For too long, games have been extremely centralized with very limited player involvement in the creative process. GamerToken’s staking system empowers players by valuing their creativity, contributions, and input, and providing a platform for their voice to be heard.
Democratization is fundamental for the GamerToken system; GamerToken is a transactional & governance token, by players, for players. The future of our gaming ecosystems should not be decided by a corporate meeting in a stuffy office boardroom, it will be decided by game publishers, service providers and most importantly — with the help of the gaming community. In other words, the people who are truly passionate about the games being played. The time spent advancing characters, stimulating in-game economies, and being an active presence in online worlds increases the network value of games; players deserve a bigger say in their games’ future directions.
Protocol governance will be administered by game publishers, developers and individuals who each stake tokens to vote, as well as community representatives who are elected via quadratic voting. This method both ensures that all voices are heard and works as a proof-of-demand — guaranteeing that changes to games and networks are truly desired.
This protocol will maintain some high-level foundational ecosystem governance while allowing for game-specific governance that developers can customize. This enables publishers and gamers to act together while leaving room for game-specific communities.
Our staking mechanisms are open source and “game agnostic” — any publisher can leverage existing smart contracts and their pre-developed associated functionality. This neutral system strengthens all participants in the protocol and the gamer experience.
There are multiple ways that GamerToken can utilise these staking mechanisms. Consider the following examples:
1) Proposing a new items or features.
Players will be able to propose new ideas for in-game items in our Designer’s Corner, new maps, game modes, or other changes to their favorite games. When other players see an item-idea that they like, they can choose to stake tokens to pre-purchase that item. Once a threshold of tokens is met, the proposal is sent to the game developers. The developers then decide whether to refuse the proposal (in which case all token-stakers receive refunds) or accept the proposal, create the item and introduce it to the game. If that happens, the developers and item-proposer split the gathered tokens, thus incentivizing community development.
Alternatively, developers can host a design contest to crowdsource the best designs for a new skin from the community. The winning designer, decided on by a community vote, could receive a fixed reward or a royalty payment paid out by a smart contract for a specified period of time.
2) Pre-purchase skins/expansions
Once an exciting development in the gaming sector, the reputation of pre-purchase add-ons has taken a sharp decline after numerous developers failed to deliver on their promises. GamerToken provides a solution that will rebuild lost trust.
When developers enable pre-purchase of expansions and skins, they stake tokens — this tests demand while ensuring accountability. The stake requirement will be dependent on multiple factors, including length of time in the ecosystem, economic value of the new product, etc. If individuals are unsatisfied with the final product, a smart contract can return their purchase via individual arbitration or class-action arbitration. If arbitration is settled in favor of a community member the developer would forfeit a portion of their stake. This incentivizes the developer to remain a good actor.
3) Crowdfunding New Content & Events
Within the GamerToken ecosystem, developers will be able to crowdfund new content, special events, and even new game integrations. This could be the prize pool of a large esports tournament or a holiday DLC package of new skins. These ideas might start as a proposal from the community and become a full blown campaign for a major event with tiered levels of commitment from the developer. Many major esports tournaments have been crowdfunded in the past and we can’t wait to see the fantastic projects created by the GamerToken community.
This crowdfunding could be extended to new game integrations, where the community stakes tokens to motivate new game developers to join the platform if they see that the demand is there from their community.
GamerToken’s democratic system returns power to the player so that they can shape the games and networks they love. Before now, players have been disempowered — with only the ability to consume; now they can take joy in shaping the games they love while alleviating some of the game developers’ creative burden.
If you’re excited to find out where our staking and democratic governance will lead, join the GamerToken movement at GamerToken.io.