Read.AI Summary
Summary:
The meeting was attended by Peter, Linda, Kyle Solomon, Marin, and Sebastien, who provided an overview of their roles in the gaming industry and their respective projects on Cardano and Polkadot. The conversation revolved around the state of gaming on Polkadot and the challenges faced by Cardano in the gaming sector. The participants discussed the funding and gaming initiatives in Polkadot, the potential barriers of using different currencies in gaming, and the challenges of cross-chain integration and user onboarding in the context of Polkadot.
The discussion also touched on the challenges of high initial token prices, the legal implications of asset trading in different jurisdictions, and the considerations for liquidity and the legal implications of decisions on the project. The participants explored the decision between single or dual token systems and the importance of carefully considering liquidity. The meeting also delved into self-custody and security solutions in the crypto space, with Sebastien Guillemot highlighting the risks and limitations of current approaches.
The participants acknowledged the complexities and risks involved in the gaming industry, with Peter acknowledging the movements of other teams in dealing with legal frameworks. The discussion also highlighted the importance of simplifying user onboarding and tokenomics to drive adoption, and the role of VCs in the gaming industry. The meeting concluded with expressions of gratitude and plans to process the ideas discussed into a report for future reference.
Chapters & Topics:
Introduction and State of the Union
Participants, including Peter, Linda, Kyle Solomon, Marin, and Sebastien, introduce themselves and their roles in the gaming industry. They share insights into their projects on Cardano and Polkadot, with Kyle discussing Drip Drops and the game Jet Chicken, and Marin highlighting Xiaomi Games' projects on Polkadot. The discussion then transitions to the state of gaming on Polkadot, with Marin explaining the presence of gaming specialized chains and indie game developers on the parachains.
Tokenomics and Implications for Gaming
State of the Union of Gaming on Different Blockchains
Challenges with Cardano for Gaming Activities
Kyle Solomon and Sebastien Guillemot address the low transaction volume and slow finality on Cardano, emphasizing the struggle for product market fit in gaming activities. Sebastien explains the challenges of connecting Cardano with other ecosystems and the need to modify the programming language and smart contracts to enable gaming experiences. They also discuss the implications of low transaction volume on the tokenomics of Cardano.
Discussion on Crypto Landscape and Market Trends
Kyle Solomon delves into the challenges within the crypto landscape, highlighting user fatigue and the conflict between those focused on price and those interested in technology and progress. He also addresses the impact of the political landscape on fundraising for startups, expressing optimism for a turnaround. Linda concurs, emphasizing the complexity of the factors involved.
Funding and Gaming Initiatives in Polkadot
Linda and Mar1 delve into the advantages and challenges of gaming projects in Polkadot. They emphasize the availability of funding initiatives for game builders, including the game bounty, parachain foundations, grants program, and the open treasury. Mar1 also addresses the drawbacks related to low transaction volume, token usage, and price action for DOT, while expressing optimism about the future evolution of these aspects.
Challenges with Wallet Integration
Linda and Mar1 express concerns about the potential barriers posed by using different currencies in gaming, particularly on Polkadot and Cardano. Sebastien Guillemot discusses the challenges of integrating wallets for mobile gaming, emphasizing the lack of proper wallet support on Cardano and the complexities of the UTXO model. Peter suggests the need to address the topic of wallets in general, highlighting the importance of a better wallet experience for dApps and products in ecosystems.
Challenges in Cross-Chain Integration and User Onboarding
Sebastien Guillemot, Linda, and Mar1 discuss the challenges of cross-chain integration in Polkadot, focusing on the difficulties of bridging between different chains for gaming and NFT marketplaces. They explore potential solutions such as auto-teleport features and leveraging GMP to connect to other ecosystems outside of Polkadot. The conversation also touches on the importance of simplifying user onboarding and tokenomics to drive adoption.
Use Cases and Pain Points in Gaming and Tokenomics
Challenges with Launchpads and Token Sales
Sebastien Guillemot addresses the issue of high initial token prices and the impact on investor participation. He also emphasizes the pressure on KOLs to manage numerous deals and the limitations of using free events or existing launchpads. Additionally, he discusses the difficulties in achieving a fair launch given the current market conditions.
Legal Implications of Asset Trading and Use Cases
Sebastien Guillemot emphasizes the legal risks and complexities involved in introducing free tradability of assets in game development, leading to a shift towards fully on-chain games to minimize legal risks. The discussion also touches on the limitations of redemption services in tokenization and value utility of games, prompting a deeper understanding of the legal implications by the participants.
NFT Game Development and Tokenomics Discussion
Kyle Solomon outlines the development of the NFT game, highlighting the shift to an open policy for the new series and the use of tokens for NFT upgrades. He also explains the profit model and the incentive for ownership. Linda and Mar1 contribute to the discussion by sharing their perspectives on incentivizing players and finding the balance between fun and rewards in Web3 games.
Considerations for Liquidity and Wallet Systems
Mar1 and Sebastien delve into the considerations for liquidity and the legal impact of decisions on the project. Sebastien details the wallet system for Torochi, which includes EVM and Cardano support, and the plans to extend it for ZK platforms like Mina Protocol, while also emphasizing the avoidance of custody of user funds due to legal implications.
Self-Custody and Security Solutions in Crypto
Sebastien Guillemot explains the challenges and limitations of current email-based login systems in crypto, emphasizing the fragmentation and lack of cross-platform compatibility. He also discusses the barriers to account abstraction and the need for better solutions, citing the limitations of the Ethereum Virtual Machine (EVM) and the potential for richer account abstraction systems in non-EVM based projects like StarkNet.
Social Recovery and Delegation Systems
Action Items:
Stay updated on the progress and developments in the gaming and tokenomics space and continue to engage in discussions and collaborations.
Peter will compile a report with the ideas and discussions from the workshop and publish it for the participants to review.
Sebastien Guillemot will share his Twitter handle in the chat for others to connect with him and follow his projects.
Linda will connect with the participants on Twitter to follow their projects and stay updated on their progress.
Peter will update the documentation with a brief bio of each participant, sourced from LinkedIn or Twitter, and make any necessary updates if requested by the participants.
Key Questions:
What are the implications of the current low transaction volume on Cardano and Polkadot for gaming activities specifically?
How can the balance between fun and token utility be achieved in gaming and tokenomics to enhance user engagement and adoption?
How can the barriers to user onboarding be reduced in the gaming and tokenomics space?
What are the legal implications of freely tradable assets in gaming and how can they be mitigated?
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