With Facebook’s recent announcement, all eyes are on the metaverse. VC interest in crypto-gaming is at an all-time high, and traditional studios are rolling out their NFT strategies. But if we are to crystallize the vision of the metaverse as laid out in Snow Crash, Ready Player One, SAO… there still are fundamental building blocks that must be built and adopted.

In this series, we hope to introduce such building blocks - the economic primitives of the metaverse - and in doing so, make clear their absolute necessity. We want to particularly focus on utilities that have not achieved widespread attention and adoption - hence we will leave it up to the reader to explore fractionalization and NFT collateralized loans themselves.

We will first briefly go over the definition of the metaverse, and reiterate NFT’s role in securing digital property rights. We then outline the fundamental limitation of smart contracts and introduce different implementations of renting and lending that are currently live.

This is both an open letter to the 2 Billion gamers out there on why you should give crypto-gaming a chance, as well as an exposition of our crypto-gaming thesis. Despite the hype and the consensus among the crypto community that crypto-gaming is the future, we’ve encountered both nebulous explanations of its benefits and legitimate arguments by established gamers as to why it will not work. We want to address both and discuss through the lens of our personal experiences and frustrations with games symbolic of our 2000s childhoods, six reasons why crypto will change gaming. We hope to propose novel applications or ideas in each section and provide a brief overview of existing arguments.

As always, if you’ve enjoyed this article please follow us on Twitter @terry15chung and @stingrayL0.

This is both an open letter to the 2 Billion gamers out there on why you should give crypto-gaming a chance, as well as an exposition of our crypto-gaming thesis. Despite the hype and the consensus among the crypto community that crypto-gaming is the future, we’ve encountered both nebulous explanations of its benefits and legitimate arguments by established gamers as to why it will not work. We want to address both and discuss through the lens of our personal experiences and frustrations with games symbolic of our 2000s childhoods, six reasons why crypto will change gaming. We hope to propose novel applications or ideas in each section and provide a brief overview of existing arguments.

As always, if you’ve enjoyed this article please follow us on Twitter @terry15chung and @stingrayL0.

This is both an open letter to the 2 Billion gamers out there on why you should give crypto-gaming a chance, as well as an exposition of our crypto-gaming thesis. Despite the hype and the consensus among the crypto community that crypto-gaming is the future, we’ve encountered both nebulous explanations of its benefits and legitimate arguments by established gamers as to why it will not work. We want to address both and discuss through the lens of our personal experiences and frustrations with games symbolic of our 2000s childhoods, six reasons why crypto will change gaming. We hope to propose novel applications or ideas in each section and provide a brief overview of existing arguments.

As always, if you’ve enjoyed this article please follow us on Twitter @terry15chung and @stingrayL0.

“Do you want to earn some serious money while playing a fun game?”

If someone asked us that even just a year ago, we would have played it off as a joke or asked if they meant we should start a streaming career.

But today, the average Joe can earn a viable wage playing games through NFT gaming, the most prominent of which is Axie Infinity - a game that takes inspiration from Pokemon with its owning, breeding, and trading mechanics, and card turn-based combat reminiscent of Slay The Spire and Hearthstone. The game is playable on both mobile and PC, currently available on Android with IOS coming in the future.

Recently Axie Infinity has come under attack by both new players and old members of the community. In this article, we hope to explore factors that affect the yield generating potential of Axie Infinity, its risks, and opportunities to outline why we are still optimistic. We hope to provide a brief overview of the game, scholarships, and current yields, then move on to discussions on our view of the future.

Should I be doing this?

Blockchain@Columbia decided to launch Lion DAO because we thought it was a great opportunity to deeply engage with our members, alumni, and web3 community in a crypto native way. Additionally, due to inadequate funding from the university, launching a DAO and the LION token allows us to greatly expand the clubs mandate and impact we can have on the Columbia, New York, and broader crypto ecosystems more generally.

Steps

1. Select a name for the DAO and Logo

   1. We chose to use our school mascot the Columbia lion as our name and the lion emoji as our logo. We deliberately chose the mascot (or something representative of your region) as the name to still maintain the association with Blockchain@Columbia, but also give us enough space from the university to maximize the DAO's flexibility. The lion emoji was chosen for its simplicity, recognizability, and to pay homage to other projects with emoji logos like Uniswap, Lolli, etc.

2. Set up a multisig for your org

   1. We use Gnosis Safe for our multisig to receive the funds from our LION token launch and to manage Lion DAO's treasury and assets. Gnosis Safe has an intuitive interface that allows you to add and remove signers and configure the number of signers needed to approve transactions. We're starting off with our president, vice-president, and advisor as signers, though this is subject to change. Using a multisig not only makes your DAO's treasury more secure, but also makes org transitions far easier as signers can be added/removed whenever leadership changes.

3. Get onto Mirror or use our publication

   1. While launching a crowdfund for your token can be done relatively easily with a standard Ethereum ERC-20 contract, Mirror is an elegant way to combine your launch explainer, an interface to specify your crowdfunding goals/parameters, view crowdfund progress and leaderboard, and launch custom NFTs for different contribution tiers. As it is increasingly harder to get onto Mirror by winning the weekly $WRITE race, we're happy to let any student org use our publication to launch a DAO. Just Dm us your wallet, reasoning behind your DAO, and your launch plan. Larger orgs can also just enter into the weekly $WRITE race to create your own publication. We're happy to allocate votes to and support any orgs entering the race!

4. Launch DAO

   1. Create an Entry on Mirror
      1. Go to Entries on the Mirror Dashboard and click on Create Entry.
      2. To add contributors to work on the article and appear in its byline, you must first add them as contributors to your general Mirror publication. To do this go to Settings on the dashboard, click on Contributors and add the contributors' addresses. Once they sign the invite in their wallet, you can then send them the link to your publication and they'll be able to access it. To then add contributors to the byline of your launch article, click next to the contributors' names in the Entry settings of your article.
      3. In the article it's import to include the following to give people a general sense of what your student blockchain org does, what you will do with the funds, and how the DAO will be governed: high-level information about the org, more specific info about club activities, purpose of the DAO launch and crowdfund, use of crowdfunds and goals for the DAO, how DAO governance will work (i.e. who will be able to vote), (potential) benefits of owning one of your NFTs, and info on the board and some org alumni. This is a broad outline of what we did so of course feel free to augment.
   2. Create Crowdfund on Mirror
      1. Go to Crowdfunds on the Mirror dashboard and click on Create Crowdfund.
      2. Here you can specify the token symbol, funding goal (how much you want to raise), stretch goal (max amount you want to raise), and how much of the tokens you want your org to keep. We chose to keep 30% to have a sufficient amount of LION tokens to give to new members each semester.
      3. After specifying these crowdfund parameters, you can also choose to mint custom NFTs to give to your DAO's backers. You're able to specify how many tiers you want, the number of NFT's per tier, and the price per tier. Then all you need are high-quality PNGs for each NFT tier, a name, and a brief description. For reference, we decided to create 3 tiers—Bronze Lion, Silver Lion, and Golden Lion—and set the supply and price as 100, 0.1 ETH for bronze, 30, 1.0 ETH for silver, and 10, 3.0 ETH for golden. These numbers were deliberate. With the Bronze Lion we wanted to promote broad participation from the community with a high supply and low price. With the Silver Lion we aimed to reward our more substantial backers but still have enough supply to meet potentially high interest. Lastly, with the Golden Lion we wanted to honor our most generous backers with an exclusive and limited NFT. These numbers are just for reference and can of course be changed as you see fit.
      4. Imbed this crowdfund into your Mirror article by clicking on your Crowdfund and copying the link towards the top of the page, make the article public, and launch your DAO!
   3. Raise awareness and get supporters for the DAO
      1. Although we are still doing this ourselves, it's essential to have a clear idea of how you will get buy-in and support from alumni and the broader crypto community. Some ways to start can be brainstorming and writing down alumni working in crypto or who are interested in the space, contacts with well-known people in the space, etc. On the day of launch and the week or so afterwards, it's important to remain active and engaged on social media. Cold outreach via Twitter dms and comments, Linkedin messages, and emails can be quite helpful in building an audience and getting people to participate in your DAO.

   Additional Notes

   While Blockchain@Columbia is a student-run blockchain organization associated with Columbia University, Lion DAO is a completely separate entity giving us maximal flexibility. We're also creating a separate 501(c)(3) non-profit Blockchain at Columbia to enable us to accept fiat when working with more traditional organizations and groups.

   At the time of writing, we're still in the throughs of our DAO launch and getting the word out about Lion DAO. This is all experimental and we're hoping to iterate on this process and how we will run our DAO with the community.

   Lastly, just to reiterate, we're happy to let any student org use our publication to launch a DAO for their org. Just Dm us your wallet, reasoning behind your DAO, and your launch plan.

   Please read out to us on Twitter or email us at blockchain@columbia.edu with any feedback or questions. We'd love to help onboard other student blockchain orgs and support this next phase in student-run orgs!

Blockchain@Columbia (B@C), the student-run organization for blockchain technology at Columbia University, has decided to launch a DAO to expand the scope of the organization’s opportunities for members and allow for members and alumni to engage with the organization in a crypto-native way.

About Blockchain@Columbia

For those not familiar with us, Blockchain@Columbia (est. 2017) is a student-led organization of mostly undergraduates that engages with the blockchain community and provides opportunities for our members and the broader ecosystem. B@C currently consists of 32 officers and 5 board members with over 200 community participants across New York City.