Davos 2023: Metaverse Economies Are A Testbed For Entrepreneurs, Dacoco CEO Says

The World Economic Forum The 2023 Annual Meeting of the World Economic Forum (WEF) was held in Davos, Switzerland. Topics relating to multipolarity and post-pandemic fragmentation were discussed.

Benzinga was able to interview while she was there Sarojini McKennaThe co-founder of and CEO at Dacoco — producer of Alien WorldsThe largest blockchain metaverse according to users is.

Here are the words of McKenna, an Oxford graduate and ex-London-based investment banker. Rothschild & Co.You had to say. Below is a lightly edited text for clarity and coherence.

BZ: Share some of your first projects.

McKenna: One of them was a DAC (decentralized autonomous community) that ran block production activities on a variety blockchains. The mining rewards that were received went straight into the DAC account. These smart contracts allowed the community governance to distribute the rewards according to their permissions. This model was revolutionary in that communities could finance themselves through activities such as mining. This project led to the creation of a tech stack that could be used by DACs or DAOs.

Are there any other options?

My co-founder came up with the idea of putting NFTs in a metaverse that was primarily centered on a persistent space or community. Due to our DAO experience, we decided to add DAOs. Thus, the pillars for Alien Worlds are DAOs and NFTs within one metaverse.

Was it hard to transition into gaming?

We were very fortunate to have a fairly established technology at that time. Although we moved to gaming, we had been building scalable tech for many years and already had a company in place.

What are your daily priorities?

The roadmap development and release of the six-planet DAO is the main focus. There are six competing teams in the metaverse. Each is a DAO, or decentralized autonomous organisation. These DAOs are managed by their own communities and have their own token. It is also a collective play-to-earn system. We’re also continuing to develop our mining game, which is our flagship play-to-earn feature, NFT reward mechanisms, and ways in which users can use NFTs in the game.

What is the significance of DAOs?

It is important to be capable of representing groups of people who work together towards a common goal on-chain. That’s exactly what DAOs do.

In our roadmap is a universe of DAOs — a metaverse of DAOs — in which anyone can create their own DAO communities and get play-to-earn rewards for that. Communities will signal what they are doing and you will see a range of tokenized actions being taken on-chain.

An example of this is an airdrop tokens or NFT drops, where utility NFTs are created and used in something they offer. All of these signals to DAOs and other members of the metaverse what they are most interested in.

What you’re talking about is creating a powerful Web3 discovery mechanism.

Web2’s discovery mechanism was data. The big platforms tracked the behavior of users and then made money through advertising. Web3 was the next step in profiling, where you can own your public blockchain account. This is easier to control, and you can identify yourself within the metaverse. You can either pursue individual or group goals within the metaverse. Once you are able to market to them, you will be able to.

Talk about your road map.

We were the first dapp to be created in history, and the most popular game by transaction volume and user numbers. In order to be more focused, we have slowed down the delivery of our roadmap. Our planet DAOs are the result. The fighting game was developed by our community and is now on our roadmap. I’m happy with the current state of our roadmap.

What did you discover about these ecosystems?

Participation is essential. I joined a project, showed up every day, and that’s how I learned.

What are your current challenges?

Each of us are building a new category. This presents many challenges. Tech is still not very user-friendly. Onboarding and wallet setup can be difficult for users. Tokenomics are in development.

Are you a believer in the sustainability of the play-to earn model?

We’ve known for a long time that play-to-earn is not sustainable. The closed loop model we have is that tokens are earned through certain activities, but tokens can only be used for those things. It is difficult to find the right balance and build the tokens people want.

Are there any advantages to having your headquarters in Switzerland?

Switzerland’s canton of Zug is home to the Crypto Valley. In terms of crypto, Zug was forward-looking. They took the time to learn about crypto early, which was quite unusual. The regulation is clearly written and precise enough to let you know if your compliance. It is also an ideal environment for accountants and lawyers.

What is the metaverse economy?

Entrepreneurship is born in the metaverse economy. It’s a liquid and vibrant economy with hundreds of thousands of people all interacting with each other directly in a peer-to-peer way, within a single environment. It’s a great place to test business ideas, meet business partners, incubate businesses, and find communities to help them grow. More people will be creating products and services in this metaverse context, and then releasing them to that context. Web3 is open to all commodities, even communities. This allows people to have direct access to a market, rather than only through content. That I think is very beneficial for people in their daily lives.

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