#29 - May 2023 DAO Progress update
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#29 - May 2023 DAO Progress update
Welcome to the 10th official newsletter from the Merit Circle DAO
Welcome to the official newsletter from the Merit Circle DAO.
In our previous newsletter, we gave three new updates from our portfolio projects, and we shared our view on the upcoming year for every single vertical. In this update, we share the announcement of the gaming subnet ‘Beam’, give an update about the Merit Circle Grants, Merit Circle Tactile and grant you a chance to meet your fellow DAO contributors,
Read on as we summarize what’s been happening and what’s to come…
Portfolio update
We’re proud to work with dozens of amazing partners across the world who are all contributing to the web3 gaming space in their own way. We’re regularly receiving updates from these partners on development, market analysis and everything in between. To give our community some more insight, we will be highlighting three portfolio projects in each newsletter.
Super Duper Secret
Let’s kick things off with our latest addition to the stall of partners – Super Duper Secret Co. who recently raised over $1 million to shed new light on traditional games like Chess. The studio will launch with their first title, Royale Chess, a ten-player, battle royale chess game.
However, this is only the start, and many games across their underlying meta-game platform, focusing on multiplayer, evergreen games, have yet to be announced. We’ll get back to you with a thorough announcement and a breakdown of the game, and obviously ensure the Merit Circle DAO community gets a first glimpse of the games as soon as they’re available.
Ascenders
We simply love Ascenders for the fact that they are all about delivery, and not just talk. Powered by Arbitrum, Ascenders is embracing the agnostics of blockchains and will launch Ascenders: Simulation to this vibrant new chain. What is this new game they’re talking about?
Simulation is a captivating browser game where you embark on a mission to establish a thriving colony on Ascension. Secure your plot and improve your base, immersed in gameplay filled with resource collection, refinement & strategic upgrades The game is scheduled to launch on june 8th.
Roboto Games
So a little while ago we announced that we’ve invested in Roboto Games, a serious studio that raised $15M to launch a fun game called Foragers and Fighters. We’ve been frequently checking in with the studio, and recently heard about a lovely hire. Philip La, previously worked for Sky Mavis, Meta and Niantic(Pokemon Go), now the director of product at Roboto!.
Newly formed partnership
We are constantly looking for new potential investments and partnerships to broaden our operations. Since our latest newsletter, we formed a strong new partnership that we’re more than delighted to share with you:
Treasury report
To properly show what we have been doing in terms of handling our treasury and the funds raised, we share a monthly treasury report. This report includes all the ins-and-outs of the Merit Circle DAO financially.
A small quote that summarizes the treasury report of the previous month:
“In the past month the treasury decreased from $97,031,641 in March to $96,392,032 at the end of April, a 0.6% decrease from the previous month. The DAO realized a profit of $115,000 in the month of April.”
Read the full report here.
Merit Circle DAO to launch gaming subnet ‘Beam’ in collaboration with Avalanche
It is with great pleasure that we announce an exciting new development for the Merit Circle DAO: Beam, a subnet created for the Merit Circle DAO to launch on the Avalanche network. This gaming-focused blockchain will not only facilitate the DAO’s products, but become the home for dozens of fascinating games.
Allow us to tell you the story of Beam and explain how it fits into the Merit Circle jigsaw. We would like to do so through these three articles, that tell you everything you need to know.
The Merit Circle DAO branches out into game development with Forgotten Playland
In collaboration with the experienced game developers from Studio Red, the Merit Circle DAO is launching Vermilion Studios. The first title coming out of the studio’s lab is Forgotten Playland, a social gaming ecosystem housing 2 minigames to start challenging players to interact and compete with others.
We will give a sneak peek from the game in our upcoming event, this Friday the 19th of May. More information and all you need to know to get involved will be shared in due course.
An update about the Merit Circle Grants
A little while ago, we officially launched the Merit Circle Grants program. Through this program we offer enthusiastic members in our DAO a chance to pitch in and help contribute towards the development of the Merit Circle ecosystem.
In the short period of its existence, we’ve received two applications; ‘Configurable Twitter Sales Bot Service for Gaming assets’, and ‘Develop a Spanish-speaking media ecosystem with a focus on crypto gaming'. Both applications did not meet the standards of the committee and therefore have been kindly passed on.
As a little reminder, the DAO offers two types of grants that are currently available;
Research grant - Max $10,000 per applicant: The intent for this grant is to lead up to a larger proposal, on which the community will vote. This will be for proposals exceeding the limits of this grant.
Development grant - Max $25,000 per applicant: The intent for this grant is to compensate developer(s) for the expenses that are incurred while working on their project.
Ready to apply? Head over to Wonderverse right now!
The first Merit Circle Tactile boxes have been delivered
Proud as a rock, we introduced Merit Circle Tactile, an exclusive set of 650 merchandise packages for the community. These packages include a variety of clothing items such as a T-shirt, hoodie, cap and a scarf. These packages have been distributed among our community members, partners and industry professionals.
Proudly, we’ve seen many DAO Contributors receive their packages and showcase their Tactile. The beauty is, you can still purchase your Tactile ID, redeem yours and have it to you in a matter of time! Where – Purchase here and redeem here.
Merit Circle DAO community event
The annual Merit Circle DAO community event is right around the corner! The thread has all the information you may need, but we’re keen to invite you through this channel once more. You can still RSVP, and you really want to attend this one. There will be some fun presentations, a gaming tournament and good food.
Let’s celebrate the future of gaming together, and raise our glasses to the Merit Circle DAO!
Together, we grow
It’s with excitement that we look ahead. We’ve recently announced Beam, and development has never been as busy as they currently are. Passionately building on a testnet, we can’t wait to allow our partners to play around and eventually deploy their assets on our network. The future is bright, as the Beam enlightens us!
Again, thanks everyone for your support. Together, we’re changing the game!
Our next newsletter will be sent early July.