#9 - May 2022 DAO Progress Update
Welcome to the 4th official newsletter from the Merit Circle DAO
Welcome to the fourth official newsletter from the Merit Circle DAO.
In our previous newsletter, we shared the process of launching Edenhorde, our very first creative project, and briefly touched on the new direction of the Merit Circle DAO.
Since then, we’ve released four deep-dives into each vertical of the DAO, hosted our very first real-life event during DevConnect Amsterdam and formed even more exciting partnerships with promising games. Read on to find out more and to see what lies ahead!
Analyzing the four verticals
The Merit Circle DAO has evolved into something much greater than a mere gaming guild. While the goal was always to outperform the competition, we hadn’t realized that our competitors weren’t dreaming as big as we were. Their limitations are where our imagination starts.
To explain this vision, we wrote an extensive article shared in last month’s newsletter. We dove into each vertical explaining our view on the market and how we aim to become a sustainable yet indestructible gaming DAO. Here’s a breakdown of the four verticals that make up the current Merit Circle DAO.
Operating as a hybrid of hedge and venture capital funds, we are creating a robust and resilient treasury that can withstand even the hardest market conditions. This vertical consists of venture, token and NFT investments as well as yield farming operations.
Full article – Here
Just as the body requires blood to run through its veins, the Merit Circle DAO is intrinsically connected to the world of gaming. We love gaming: we invest in games, incubate games, have thousands of gamers in our community and, with the development of our gaming platform, we are bringing it all together in one place.
Full article – Here
Under our studios vertical, we combine our skillset, expertise, community and significant treasury to unlock the potential of others and offer the perfect breeding ground for creative projects. It’s a space where, as well as actively publishing our own concepts, we can incubate new games and push ground-breaking projects.
Full article – Here
With the invention of non-fungible tokens (NFTs), ownership is firmly back in the hands of the people. Everything and anything on the internet can now be bound to one single entity and replication is a thing of the past. What’s more, the space grew to an unstoppable multi-billion dollar industry.
Here at the Merit Circle DAO, we’re creating an NFT marketplace for in-game assets that will drastically improve the current user experience when trading digital assets.
Full article – Here
Glance behind the screens
Given the unique position of the Merit Circle DAO, we are privileged to be among one of the earliest parties in the testing phase of many promising games. In return, we provide thorough feedback and assist in the development of these games. Right now we are testing Sipher, Sidus Heroes, Axes Metaverse and Hash Rush.
We can’t spill too much, but the dedicated team of gamers who are trying out these games are getting more excited by the day. There are many challenges to make these games not only rewarding, fun and challenging but, most importantly, sustainable. We hope that we can help bring various new games to the GameFi landscape.
Newly formed partnerships
We are constantly looking for new potential investments and partnerships to broaden our operations. Since our latest newsletter, we formed even more partnerships that we’re delighted to share with you:
Treasury report
To clearly 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’s financial dealings.
The following sums up the treasury report from the previous month:
In the past month, the treasury increased from $120,992,104 in February to $126,234,076 at the end of March, a 4.3% increase from the previous month. The Merit Circle DAO has realized $949,995 in total income during the month March from token and NFT sales.
Stay tuned and subscribe to Substack to receive the next treasury report that’s due to be released in the next few days!
Merit Circle 4/20 event
The Merit Circle DAO has evolved from a dream into a reality that positively impacts the lives of many across the globe. With all the time we spend online, it’s easy to forget the scale and significance of this organization, which is why we wanted to unite all of the Merit Circle DAO’s contributors at a real-life, in-person gathering.
On the 20th of April, (4/20, indeed), we came together in the A’DAM Tower in Amsterdam for a day of celebration. We kicked off with some drinks followed by a speech from Tommy Quite, our CFO. Then, Dept Agency gave a presentation about the gaming platform and the NFT marketplace we are building together for the Merit Circle DAO. Concluding, Lava Games gave a short presentation about its game, A Far Away Realm.
After the talks, we dined at Cafe Modern with a large group of our investors and partners before returning to the A’DAM Tower for an unforgettable night. We met so many lovely community members, it felt truly heartwarming. Being together in a room with so many like minded people is an unforgettable experience and only encourages us to work even harder.
The presentations have been recorded and will be shared in due course. All attendees have been awarded with an exclusive POAP. There’s no direct utility or value, but who knows what it might bring in future events…
Edenhorde Manifesto
From the very beginning of the Edenhorde project, we chose a different approach to that typically seen in the world of NFTs. We committed to delivering on items as soon as they were 100% confirmed, as we did with the narrative arc, which we shared only weeks after the launch of the Edenhorde NFTs.
However, we received various questions about whether Edenhorde would be more than just an eight-chapter interactive story. Naturally, we have lots more in store but don’t want to create a false sense of momentum without directly delivering. To address these concerns, however, we created a manifesto, which shares our long-term vision for Edenhorde.
Read the full manifesto including an action-zone with items we’re currently working on here:
Additional marketing power
From day one at Merit Circle, we have been extremely fortunate to receive the support from dozens of individuals across the globe amplifying our announcements and helping to spread the word. However, as our ambitions grow and we want to reach an even bigger audience, we need more hands on deck.
As such, we’re looking for someone who can help position us as the synonym of play-to-earn across the entire gaming industry. Could it be you?
You’ll be responsible for the presence of Merit Circle in our social channels, writing articles on our partnerships, our development as a company, both in general and within the industry. You’ll be present in our communities to make sure that we are aware of what people are talking about and much more.
You’ll have experience in both communications and the cryptocurrency industry, and be open to working with people from different backgrounds and countries. What’s more, you’ll simply love to write, tell stories and play a big part in helping us shape the future of Merit Circle.
If you have what it takes, apply here.
Together, we grow
The more time passes, the more mature the Merit Circle DAO becomes and the more we build. During our event in April, we were fortunate enough to meet some of our wonderful community members in the flesh and this truly boosted our morale. The team has a renewed sense of motivation and this energy will flow directly into the Merit Circle DAO.
Other than that we have been overwhelmed by the tremendous activity by the Merit Circle DAO’s community members in our governance forum. We will be sharing a monthly topic in the governance forum containing the community’s sentiment in collaboration with some key community members starting next month.
Again, thanks everyone for your support. Together, we’re building the metaverse!
Our next newsletter will be sent early July.