By
Steve Muchoki
January 30th, 2024
The company hopes to add an education component for users to help them better understand the games they are playing so they can get maximal rewards.
Decentralized autonomous organization, Merit Circle, has unveiled three critical pillars in its bid to create more value in the gaming world. It made this revelation through a post on its Medium channel.
According to the team, the scholarship model, mainstream gamers, and the NFT and Metaverse index fund will be critical if it is to build on the success of the project last year.
Recall that within its first year alone, the project gathered support from reputable investors like Defiance Capital, Yield Guild, Mechanism Capital, Digital Currency Group (DCG), Dialectic, Citizen X, and several others. This allowed it to bypass the need to build legitimacy which is often the starting point of other projects.
However, the project must now prove itself as deserving of the support it has received by delivering on its promises. The company expects to be a fully functional platform, with appropriate governance structures guiding its operations and multiple independent organizations and gamers under its umbrella – all this within a year. The announcement of its critical success factors seems like an attempt to inspire investor confidence in its prospects.
Success Pillars of Merit Circle and Plans for 2022
The primary pillar is its scholarship model. Using this model, Merit Circle can lend lout assets to gamers who can’t purchase them individually. They will then share any profits that accrue between the owner of the asset and the gamer. Already, the platform has over 1200 scholars from across the world earning rewards for playing Axie Infinity.
In scaling this up, the company is now developing an overarching platform that’ll play host to multiple gaming activities. These games will launch on the platform later in the year. The platform will also allow gamers to switch seamlessly between games, access their finances and in-game statistics. In so doing, Merit Circle hopes to attract more scholars in 2022.
Additionally, the company hopes to add an education component for users to help them better understand the games they are playing so they can get maximal rewards. Also, the education will help address the second pillar related to friction between blockchain gamers and traditional gamers. Likewise, the unifying platform for play-to-earn games will aid the adoption of the system by traditional gamers.
Lastly, the company hopes to pull funds from its Balancer Liquidity Bootstrapping sale on Copperlaunch. The fund, one of the largest treasuries in the industry, will help to make more investments into play-to-earn games.
At the time of writing, the project which was listed on Binance in December was trading at $3.59 according to CoinMarketCap.