現在想投入NFT會太晚嗎︱Gamfi+Defi 的商業模式︱ 什麼是DAO︱Illuvium ILV 的未來

We have been talking about NFT for quite a while, but I think the two most common reactions when talking about NFT recently. One is chasing the whitelist all day long , looking for the next ten-fold project in different Discord groups. What is the other kind of person is FOMO. I am afraid that I will miss something. It seems that people around me have made a lot of money through NFT, wouldn't it be a bubble? Why hasn't it happened? Here I have to tell you that NFT is not a lottery, it is a marathon, so in today's episode, we are going to talk about the next step of NFT? What is DAO? And Illuvium.

If you are new to this channel, I’m Ethan Liu Chenghao, who is engaged in venture capital and is also an OG game player. This channel is about how to do what you like while making money. If you like this content, don’t forget. Now press subscribe and turn on the little bell It's free! To the current NFT buyers, you are angel investors and the artist you buy is like the stock of a startup company. You bought it. Stocks naturally hope that the value can rise, so you are willing to share . The relationship between creators and NFT holders is actually based on Loyalty. Loyalty here refers to loyalty. It is a kind of mutual dedication to each other and the ability to build value. In the long run, Loyalty will also be turned into royalties. This is also the source of this root and NFT. No matter the buyer or the operator has a healthy understanding of this business model for a long time, we already have a large amount of supply in the current NFT market.

For those successful cases, it is only 1% reported by the media, but you did not see that the remaining 90% almost ended in failure and cannot be sold. Now that we have NFT , what are we missing? What we have less is the next generation of business models. These NFT projects must change from image works to mature brands and operate in a way that he can choose traditional centralized companies, but it is more likely to choose decentralized DAOs. What is DAO as an NFT business method? DAO is the Decentralized Autonomous Organization. In the past, our organization was top-down. Usually the boss gave orders to formulate the charter and decide who can do what? Who should do what? How should these resources be used? A decentralized organization is like an organization without a boss and no CEO. It builds an agreement through the consensus between the computer and the computer, and then writes it into a smart contract through a program.

These smart contracts will be automatically executed. Reduce human interference and reduce transaction costs. Now we can see that the cryptocurrency with the highest market value is Bitcoin. Its current market value has almost exceeded the GDP of many countries because it does not require a central bank or Federal Reserve control between banks and banks. The transmission of ETH has improved the efficiency of the entire transaction. The second-ranked Ether has a good chance of being able to squeeze into the top ten organizations in the world in the future. In the past, our centralized organizational decision-making was the highest from top to bottom. The company’s unit is a shareholder meeting, but it’s too inefficient to call shareholders to meet every day to decide on the size of the company. Therefore, we will ask shareholders to select a group of directors and then form a board of directors to make decisions on important matters of the company. Then select a chairman from all the directors.

Acting on behalf of the board of directors. In fact, the chairman of the board of directors, we found that the existing problem is the problem of governance. Because the conflict of interests and position is likely to cause corporate governance , the owner and the operator have different ideas. The second is efficiency. The problem is because the manager in the organization is not a very elegant conductor directing everyone to work in harmony. He is more like a firefighter who is always on the fire fighting to deal with the emergency situations that occur in the company at any time, but these situations often occur. The more complex the organization, the more it exceeds the scope of a person's knowledge and decision-making ability. At this time, the wisdom of the crowd is very important, and a decentralized organization is not so much a company without a boss, it is more like a boss with everyone. Because of the wisdom of the people, the company’s consumers are also the owners of the company. When you buy the company’s tokens or you own its NFT, you have a decision-making power in this DAO, then you can associate the market with the organization The needs and ideas between these two ends shorten the distance between them .

Through an efficient voting decision-making and execution method of DAO, the distance between decision-making and execution can be shortened and the efficiency of the organization can be improved. This is centralization. One of the biggest differences between organizations and decentralized organizations. Decentralized organizations can think of a country, a company, or a claw machine. Let us use the claw machine as an example to help everyone understand the operation of DAO. If you today If you own a claw machine in a certain store, you must decide for yourself what kind of doll toy or mobile phone to put in the machine. As the number of times it is clamped, you have to decide how often to visit the machine. If the station is out of stock, you should go to the manufacturer to get the goods, and then come to make up and collect the money. There are so many and so many complicated things to deal with, but these things can actually be automated through programming.

Imagine you have this folder. Crane machine hair You can sell 100 tokens to 100 people who like to clip dolls. Every time, you will regularly discuss what is the most popular doll on the market and what everyone wants to clip with the most? And through the smart contract, the supplier is automatically invited to replenish the goods. When it is caught to less than 60%, it will also actively notify the supplier to continue adding the doll to it. The remaining smart wallet will be deducted. After the manufacturer’s payment, the remaining 10% is reserved for working capital and 90% is automatically allocated to the holders of these 100 tokens as a dividend for this machine, is n’t it great? Improve the efficiency of the market and the decision-making end and shorten the transaction cost caused by the decision to the execution end.

However, DAO is not perfect, and it is omnipotent because smart contracts can solve known and routine problems, but for those unknown How to resolve disputes over matters beyond our control is still a challenge in the future. Next, I want to use a blockchain game to introduce in depth what is DAO? Let you know more about how the decentralized autonomous organization works. First, I will make it clear that Illuvium is an example. I did not accept sponsorship from the manufacturer. Although I will participate in every project I introduce, you don’t have to follow up because I am involved. Invest because sometimes I am to learn, sometimes I am to test you and find a reason to participate in a project before deciding whether to buy or invest.

There are two main reasons why I choose Iluvium as an example of DAO to introduce. The first is The reason is that I know that many gamers are expecting blockchain games to launch a 3A-level masterpiece, and the Illuvium team has set their goal to become a 3A-level game master at the beginning of their establishment. The white paper also clearly shows that Illuvium will be a DAO organization in the future. First, let’s take a look at Illuvium’s team.

The Illuvium team consists of two brothers, Kieran & Aaron Warwick, as co-founders. Both of them are in the new entrepreneurial world. There is quite a lot of experience, and what is more remarkable is that their brother is Kain Warwick and he is also the founder of the famous Defi Synthetix and he also led a group of angel investors to become their early investment core . The early team of Illuvium was in the seed stage. A team of 80 people has been recruited, including some well-known game producers such as the producers of "Tomb Raiders" are among them.

This scale has surpassed the many well-known NFT projects we know now. Next, we will raise funds from 、Operation and profit distribution three levels to see how Iluvium’s DAO works. Iluvium’s governance token is ILV ILV. A total of 10 million will be issued , 20% of which will be handed over to VC and angels at the beginning of the seed period. To subscribe, 15% will be allocated to the initial executive team, 15% will be retained as the working capital of DAO, and the other 10% will be issued to the general public through initial public sales.

The remaining 40% will be rewarded through game rewards as a reward to pledge ILV holders. Some holders of these ILVs who pledge ILV to provide liquidity can get an annualized rate of return of about 400% at this stage . Another mechanism that can improve decentralization is the initial VC investors and the founding team. There is an unlocking period of 2-3 years, so it is impossible to use the large amount of ILV they hold to pledge to get rewards and rewards. Iluvium is currently operating through e DAO, which is called executioner DAO. The way to make the current project can be planned by the original entrepreneurial team At the same time, a council called the Illuvinati council was established in the resolution section. There are five people participating in the council. At the same time, you can see that there are a lot of proposals. They make proposals and the process of voting and resolution. The council is at 10 There are two interesting proposals in September and September. IIP-13 was passed on October 19th.

The so-called IIP is Iluvium improvement proposals. It is a proposal on how to improve the Iluvium project. The proposal passed in this proposal is Iluvatars. Illuvium players can cast their avatar NFT. The draft has been reviewed and the pricing must be discussed in the next meeting. On September 12, a proposal was rejected. This proposal is ICCP-1. The proposal is Iluvium configuration change proposals. This is about some major resource allocation changes in this project, including some adjustments to the board's salary. This project was originally intended to reduce the salary of the board, but it was in the middle of the three.

The board of directors rejected it, so you can see that the committee itself actually decided on some matters about the project itself and the board of directors. Next, let’s take a look at Illuvium’s profit distribution. We said that DAO automatically distributes the money through smart contracts. Flow and profit, so ILV holders can get an annual reward that is equivalent to 400% after they pledge, and the other income is actually from the revenue of paying players who pay to play Iluvium.

They need to play Iluvium. The currency used is the Ethereum or sILV, the two currencies sILV comes from the game tokens exchanged by burning 1:1 ILV, which means that the more people use sILV to play the game , the total supply of ILV. It will decrease and allow the overall value of ILV to rise again. Next, let’s use the company’s system to see the similarities and differences between the design of DAO and him.

For ILV holders, it’s actually yours. The role is the shareholder. Every time we use the voting mechanism, you can nominate and elect members of the committee. In fact, you are selecting the board of directors. Your pledge rewards get more ILV. In fact, it is a system of stock dividends and obtained through revenue. The dividend is your cash dividend . The mechanism of converting ILV to sILV is equivalent to reducing capital to reduce the total ILV liquidity but can increase the surplus that each of your ILV holdings can be allocated.

Hope this comparison can be achieved. Let you know more about the difference between the company and the decentralized autonomous organization. Through these explanations, I hope to quickly let you understand the operation of Illuvium's DAO. As for the game, there is also the so-called play-and-earning mode and its game rules because it is beyond our current today. The subject is not explained in detail here. In this episode of the program, we talked about the next stage of NFT development. We also explained what DAO DAO has, what are the advantages and disadvantages, and Illuvium is used as an example to tell you. Share the actual operation of DAO. If you are an artist, you must learn at this stage how to manage a single work into a long-term brand.

Build a Loyalty relationship with fans. On the one hand, it is loyalty and on the other hand , it is a long-term revenue entrepreneur. A broader and more free fundraising channel can be obtained through the blockchain, but at the same time you must also learn the management method of DAO, a decentralized autonomous organization, to expand entrepreneurship from individual realization to community realization. Suppose you are a collector.

, Consumers, and fans now have so much short-term NFT information that you can’t handle, so try to convert the mentality of short-term hype into the mentality of long-term investment. How can I understand a cryptocurrency or the long-term operating model of NFT currency? It is for trading, not for speculation. The more you understand the true use value of a cryptocurrency, the better you will be able to grasp its long-term development. As for those who have not yet participated in NFT, you don’t need to feel fomo, don’t need to feel it. Feeling anxious after missing out. In fact, 90% of people have not yet entered the market . The successful cases you see in the media are actually very few and most of the NFTs are zero value, so you have not bought it now. Maybe It’s a good thing, and it’s not necessarily related to the future development of DAO. We look forward to more mature NFT teams that can combine business model operations so that DAO can play its true long-term value.

Then we have said a lot in this episode, so let’s stop here. I’m Ethan. Liu Chenghao takes you to play and earn Bye.

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