Decentralized gaming hub GameDAO is joining forces with professional esports organisation WAVE, with the goal of boosting fan engagement and cementing sustainable new business models.
The brand-new alliance reflects both companies’ desire to transform gaming into a participation and ownership-based economy. Though GameDAO and WAVE intend to pursue many collaboration opportunities in the years ahead, the immediate objective is to lay the groundwork for the emergence of fairer systems and economies in the burgeoning gaming and esports space.
Building a Sustainable Future for Gaming
The global esports market is currently valued at $1.38 billion, and is expected to hit $1.87bn by 2025. With more than 2.7 billion gamers worldwide, GameDAO and WAVE are just two entities busy exploring ways to build a sustainable ecosystem to ensure all players are adequately compensated.
Both parties are currently hard at work developing WAVE Guild, a landmark platform dedicated to fan engagement. The guild, which will operate as a Decentralized Autonomous Organization on GameDAO, will represent a blueprint that offers both up-and-coming and established esports teams impactful revenue models and give fans fresh ways to interact, engage and earn rewards. The Guild will also enable the Austria-based WAVE team to coordinate in a collaborative way to plan and fund future virtual and IRL events.
GameDAO is no stranger to the world of esports. Although the community-owned governance platform is mostly oriented towards blockchain-powered titles, it’s also home to many esports fanatics and recently became the main partner of SPARX Secret, an all-female Valorant team. One of the areas in which the DAO will support SPARX is in their ambition to embrace and integrate new technology into its organization.
As far as the WAVE partnership is concerned, GameDAO will create a clickable protocol featuring a Battle Pass-like reward system for fans, with both free and premium options that come with different rewards. These incentives can include merchandise, raffles to attend in-person bootcamps and mentorship sessions with the WAVE squad, and NFTs. Fans could be rewarded for things like supporting the project on social media or interacting with WAVE in-game.
WAVE, which has teams in gaming ecosystems like League of Legends, Fortnite and Valorant, is a major player in the fiercely competitive esports space. Just a year after its launch, the team signed a deal with energy drink giant Red Bull and electronics firm Logitech. As well as focusing on the esports sector, the company has become a popular lifestyle brand specializing in clothing and nutritional supplements, the latter formulated to aid concentration and energy during draining gaming sessions.
GameDAO is on a similarly positive trajectory, with plans to become a creative hub for gaming entrepreneurs, developers and enthusiasts to conceive and build releases in a collaborative and sustainable fashion. The platform, built on the ZERO Network, will work with players keen to form their own clans and DAOs to achieve an end goal, whether it be crowdfunding a game or simply sharing the spoils from competitive gameplay in play-to-earn environments.
One area where GameDAO will offer expertise and guidance relates to web3. While many esports organizations are dependent on sponsorship revenue, the web3 space offers a sustainable and liquid alternative, giving esports firms the chance to raise revenue from highly engaged supporters. In turn, these fans get the opportunity to influence the direction of the guild, participate in an incentive program, and interact with their favorite gamers.
Whatever the future holds for the gaming industry, partnerships like the one between GameDAO and WAVE are sure to be welcomed by players themselves. By giving gamers the chance to interact and earn, and esports orgs the ability to grow their community, these fast-growing ventures have taken a significant leap towards a bright new future.