The Field Report: LeagueDAO Dev & DAO Updates 5.27.2022
Welcome back to LeagueDAO’s latest issue of The Field Report, our newsletter that encompasses new LeagueDAO developments along with relevant news in the Web3 space.
LeagueDAO News
Buidl Buidl Buidl
The main theme for the LeagueDAO team right now is keep building. Our focus is on the development of the Mega League. We are on track for the beginning of the 2022 Football Season and we’re excited to see all of the components come together!
League Reward Pools Continue To Grow
Markets go up and down, but the LeagueDAO Fantasy Football and Fantasy Basketball Reward Pools continue to accrue interest and grow. Remember a large % of the sales of Genesis Player Tokens and LeaguePasses gets deposited into the Reward Pool, which is automatically staked in a DeFi protocol where is generates interest (aka Yield).
The yield generated by the pool is what Team Owners/Users compete for each week. This ensure that the reward pool is not depleted by the end of the season and can compound during the offseason, thereby generated larger rewards for users year after year.
Bears and Bulls come and go, but LeagueDAO (like a cockroach) keeps going.
Forum Discussions
We have a few open forum discussions that need community input!
Get your Merch!
The first orders of LeagueDAO Hats are arriving and they are fire!! If you bought a LeagueDAO Lid let us know! Pics or it didn’t happen.
If you haven’t ordered your hat head over to our partners Degen.Supply and order one today! Hats are just the beginning, we’ve got a lot of cool apparel in the works.
https://degen.supply/pages/leaguedao
SportsIcon Sports Metaverse Partnership
This week we anounced a partnership with the SportsIcon community! LeagueDAO secured a spot as one of their SportsMetaverse partners and will receive a 3x3 plot of land complete with virtual event space. We’re looking forward to hosting events and watch parties with the LeagueDAO community in the SportsMetaverse in the near future.
You can still join the whitelist for the SportsMetaverse mint!
GameFi & Web3 Developments
The first-ever metaverse AI boxing game “Muhammad Ali — The Next Legends”
NFL is launched a Play To Earn game with Mythic Games
https://www.coindesk.com/business/2022/05/25/nfl-taps-mythical-games-for-first-play-to-earn-venture/
GameFi through April
April’s statistics regarding the GameFi scene were released this month, with key takeaways being:
- Macro-conditions are affecting user behavior
- GameFi projects increased month-over-month (MoM) in April by over 5%
- Consensus project of the month → STEPN
Gaming with financial incentives continues to grow in both popularity and feasibility in 2022. During the month of April, GameFi projects across various chains grew by over 5% with a heavier concentration across BSC (Binance) and Polygon. More competitors are joining this space by the week with goals to create an entertaining and incentivized protocol for users to enjoy. Since Ethereum features higher gas fees than other chains, growth has slowed down comparatively to other chains.
As macro conditions have tightened and global unrest continues, we’ve seen an overall decline in asset valuations across all major markets. Whether it’s been equities, alternative investments, or the crypto space, valuations across the board have come back down to Earth. As a result, financial rewards in GameFi have decreased for the time being, causing a decline in users during the month of April. This metric can be daunting but should be expected when taking macro conditions into account. The most important metric here is that projects are continuing to build and improve their products, regardless of outside factors. This attitude allows builders to fine-tune their goals and place higher emphasis on quality. One can expect the user count to pick up in tune with overall markets.
Are you STEPN?
STEPN is a move-to-earn game where users purchase shoes (Solana) and, quite literally, walk to earn tokens (GST). These tokens can be swapped for liquidity or used to repair the shoes that allows them to earn more GST. The idea of earning money to do something that is necessary in daily life and promotes better health has caused a frenzy — people are loving it. Though it’s not representative of the average return, reports show people have earned over $500 in a day from STEPN.
Many users were skeptical at first but the project continues to surpass expectations, recently surpassing a $2B market-cap. For comparison, it is close to Axie-Infinity’s market-cap, though STEPN has been around for a far shorter time period. Outside-the-box thinking will help projects like STEPN grow the GameFi space as a whole.
Thanks for reading everyone!
To stay up to date on all our progress as well as the latest announcements, be sure to follow us on Twitter and jump into our Discord server.
