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TridentDAO: Risk to Earn Gamefi
Gaming leveraging a risk-based token economy
What is TridentDAO
Trident, developed by Geyser Forge Studios, is a 2D MMO that leverages NFTs and the $PSI ecosystem token in the in-game economy. With PSI, you can wager against other players, exchange for NFTs, and engage in other in-game activities. Characterized as a TreasureDAO ($MAGIC) competitor, Trident is also native to Arbitrum. Like the $MAGIC ecosystem, Trident employs a few mini-games that users can play in their risk-to-earn economy.
The Trident game ecosystem is free to play based on fairness and merit-based progression when rising rank within the games. Trident has two games; the first is Trident MMO, an infinite universe where players can explore worlds, fight, gather resources, hunt for animals, and more. Next is Pet Battles, similar to Pokemon, where users can battle the in-game pets they acquired.
Trident aims to address the crypto gaming play-to-earn model. The white paper explains how play to Earn (P2E) operates similarly to Universal Basic Income but doesn't operate efficiently. P2E encounters economic difficulties when buy pressure falls below a certain threshold, as seen from web3 games like Axie Infinity and others.
The trident team explains that games should not feel like jobs but like entertainment venues. Trident is building its ecosystem economics on the belief that Play To Earn (P2E) only succeeds when speculation on in-game assets and the addition of new players to the ecosystem occurs. When these criteria are not satisfied, growth stops.
Risk To Earn, A New Sustainable GameFi Model
Tridents game model is based on R2E (Risk to earn) to solve the concerns with P2E. R2E implies that some risk is required to gain any reward. The Trident developers in the Risk to Earn paper say that R2E is more sustainable than P2E since it is a zero-sum game where players lose their wagered assets to the person who won. The Trident treasury will take a small fee through R2E and reinvest it into the game ecosystem and development. The team explains that this model eliminates the need for a token inflation mechanism and creates a deflationary tokenomics flywheel through simple wagering like sports betting once R2E integration is completed.
TridentDao reimagines gaming in a grassroots style. The team aims to keep the gamer at the focus within the ecosystem. Removing VCs, making the games free to play, and employing their R2E economic model will be interesting to see play out.
There is no such thing as a crypto gamer. There are crypto speculators. There are gamers. - TridentDAO team
Geyser Forge Studios relies on the core entertainment utility to propel the ecosystem. Novel ideas are often susceptible to risk, and R2E resembles a form of gambling that potentially faces regulatory scrutiny. However, as we have seen time again in the crypto space, users will come and use the products if they have an incentive.
Not financial or tax advice. The purpose of this newsletter is purely educational and should not be considered as investment advice, a request to buy or sell any assets, or a suggestion to make any financial decisions. It is not a substitute for tax advice. Please consult with your accountant and conduct your own research.
Disclosure. All of my posts are my own, not the views of my employer.
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