Dai Wants to Become the Stablecoin of Gaming

in #bitcoin2 years ago

Blockchain company Maker is pushing to make Dai the biggest stablecoin in gaming. The company is giving out 13 thousand dollars worth of DAI to the best integrations into blockchain-powered games as part of their Dai Gaming Initiative. They believe that their stablecoin allows for cross-gaming economies with more depth.

Dai is already a relatively popular cryptocurrency in the decentralized finance space. This comes from for example the introduction Multi-Collateral Dai, and the 5 percent Dai savings rate. Maker believes the stablecoin is a good for both traditional and blockchain-based economies. The currency is tied to the US dollar, even though its value could fluctuate a few cents in times of volatile trading.

Nonetheless, Dai is growing its market share. In late January Dai has a market cap of 97 million dollars. That means that Dai grew its market cap with ten percent in just six weeks. That's the reason why the company is now making a full jump into blockchain games. Almost every game uses in-game currencies. When games require simple transactions, any digital currency will do. However, Maker wants to be able to provide more depth to virtual economies.

At the moment Dai has been integrated in games like Axie Infinity and Forgotten Artifacts. In addition games like Crypto Wars, The Sandbox, Skyweaver, F1 Delta Time, and Battle Racers have usability for Dai within their respective game worlds. Aside from games themselves, game development kits like Loom, Matic and Celer also support Dai.

Different Dai prizes

Developers need to submit their games into one of four categories. Maker is giving 5000 Dai to the game company that manages to integrate Dai Savings Rate (DSR) into their video game. Then there's a 2500 Dai prize to games with the best PVP and PVE experience, while there are two 1500 Dai prizes for the best usage of Dai.

Developers, think about how you can earn rewards for creating amazing gaming experiences. Submit your bounty applications to [email protected], with the subject line DAI GAMING BOUNTY APP. Remember to indicate the specific bounty for which you’re applying.

Dai still small

Dai currently has a market cap of almost 119 million dollars. That makes the project slightly bigger than Binance USD, which has 109 million dollars. However, the biggest stablecoin project is still Tether with 4.7 billion dollars.

Posted from my blog: https://www.nederob.nl/2020/03/12/dai-wants-to-become-the-stablecoin-of-gaming/

Interesting post and a logical diversification for Maker Dao.

Posted via Steemleo

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