Currently, there are two hot topics in the cryptocurrency sector, which include metaverse and blockchain gaming. The two sectors are correlated, and the growth of one is an immediate growth for the other. Currently, coins that are operating in this sector have seen considerable growth.
With top Web 2.0 tech firms looking towards the metaverse and as play-to-earn become a major concept in the online sector, investors are now looking towards these coins to be part of a sector that is expected to play an integral part in the future of technology.
One of the coins making notable gains in the metaverse is Decentral Games (DG). DG has made an over 50% gain in a month, which is similar to the bull market of all the other metaverse tokens. Moreover, it also recently hit an all-time high of $679, and it currently ranks as one of the best gainers in the market.
So, what is Decentral Games, and why is it causing such a buzz in the crypto space?
What is Decentral Games?
Decentral Games is a social gaming platform that is based on the metaverse. As aforementioned, the metaverse is a concept that is gaining much popularity across the crypto space and beyond, and the blockchain gaming sector has shown the highest level of integration with the metaverse.
The Decentral Games platform allows anyone to earn tokens by engaging in various gaming initiatives such as poker, blackjack, roulette and slots. The platform also supports a play-to-earn feature that allows players to earn real-world assets by completing challenges on the platform.
How does Decentral Games Work?
The Decentral Games ecosystem is made up of a vast ecosystem that works together to bring functionality. One of the main components of this ecosystem is the DG Treasury.
Decentral Games Treasury
The DG Treasury is an open and transparent system form of casino house that funds the treasury and offers financial support to games on the platform. The treasury is funded using a sufficient amount of funds that support the odds available in the casino games.
The fees paid by players participating in these games are collected in the form of native tokens. These tokens are also used to pay out the winnings of players on the platform. However, different tokens are used in the ecosystem, including the DG token, MANA and DAI.
The DG token enabled community governance on the network by allowing holders to vote and table proposals regarding the Decentral Games ecosystem. The weight of a vote is determined by the number of tokens that a holder has.
However, the voting rights only bestow DG holders with authority to vote on the Decentral Gams ecosystem features. Voters do not get any say on the company’s management, its affiliated partners, and it does not issue any equity interest to the holders.
Native DG token
DG is the native token for the Decentral Games ecosystem. The token is transferrable, and it plays an integral role in the functioning of the ecosystem. The token is also intended to be a utility asset for the network.
DG derives utility in that it is used as a medium of exchange between participants on the Decentraland ecosystem. According to the company’s whitepaper, this token was introduced to offer a convenient and secure means of payment to users on the ecosystem.
The token also creates an incentive for users on the platform because it gives them access to resources that allow them to participate in activities on the ecosystem and offer services that will benefit the entire Decentral Games ecosystem.
The DG token is available for purchase on cryptocurrency exchange platforms. However, the ecosystem will also award additional DG tokens to users depending on their usage, activity and contributions to the Decentral Games ecosystem. Holders of DG tokens who are not active participants are not entitled to any additional holdings.
Holders of the DG token are also entitled to governance rewards to stake in the governance contract. As aforementioned, DG is a governance token, and it allows the community of users on the platform to share their views, which creates a balanced ecosystem that drives the overall direction of the platform. However, the voting rights of these holders are limited.
DG holders that want to issue governance proposals can do so through summons on Snapshot. Some of the voting rights of these holders include new game development, the allocation of the house funds and adjustment of the ecosystem’s features to mitigate risks and respond to the changing market environment.
Decentral Games is making strategic partnerships
Decentral Games has made strategic partnerships in the market, helping to drive value for the coin. The coin is one of the newest ones in the market, and while this is the case, it has attracted much interest from reputable players in the cryptocurrency sector.
One of the reputable firms that have invested in Decentral Games is Decentraland. Decentraland is one of the most established blockchain networks that offer services related to the metaverse. It is also one of the oldest networks to venture into the virtual world; hence its investment in Decentral Games is significant.
In September, Decentraland announced that it had made a strategic investment in Decentral Games to enable the firm to support its new metaverse poker project. Decentraland did not reveal the exact amount of investment it made on Decentral Games, but it shared that it had made this investment by purchasing DG tokens.
Moreover, this investment was made to support the Decentral Games ecosystem as it rolled out ICE Poker, a newly launched poker game based on the metaverse. The poker game will allow players to earn money by competing against each other and winning rewards through completing daily challenges.
ICE Poker is one of the innovations of Decentral games, and it allows players to make payments through the native DG token or Ether and earn an NFT. The NFT comes in the form of wearable attire that allows a player to enter a casino. The player can enter a poker game to earn ICE tokens and have a chance to mint rare NFTs that allow them to earn higher rewards.
The other major player to invest in Decentral Games is Polygon. Decentral Gams is built on top of the Ethereum network, but it has also built on the Polygon layer 2 network, and it is one of the largest projects on Polygon.
In September, Polygon announced that it had invested in Decentral Games as part of its initiative towards venturing into play-to-earn projects. The strategic partnership will allow Polygon to bring play-to-earn games into its offerings. Polygon made the investment through staking the GD governance token.
Through these partnerships, Decentral Games is proving to be one of the most advanced networks that can offer metaverse gaming experiences.
Bottom Line
As the metaverse continues to be a red hot topic in the crypto sector, investors are constantly looking into ways to invest here and enjoy major returns. One of the newest projects in this sector is Decentral Games. While it is a new player, it has recorded major price gains for its DG native token. It has also created notable partnerships and attracted many players on its play-to-earn platform.
