Gaming company Polemos to enable the monetisation of NFT gaming assets from blockchain games.
Gaming company Polemos plans to enable the monetisation of NFT gaming assets from blockchain games.
The global esports-focused company has released a white paper laying out a strategy to build the world's first GameFi platform enabling individuals or groups to connect and monetise idle NFT gaming assets from integrated blockchain games.
The GameFi platform is a world-first decentralised combination of a marketplace, guild, and college governed by a Polemos token that will be released for public sale in Q1 2022.
The token will initially work through three mechanisms:
- The first mechanism is governance, where stakeholders will define the long-term direction of Polemos by voting on proposals and electing Archons who serve as Council Members and act as a decentralised safety stop for the protocol.
- The second is revenue distribution, with 100% of all revenue allocated to the Polemos DAO (Decentralised Autonomous Organisation) being distributed back, and a majority reaching the individual stakeholders.
- The third is staking yield, whereby 30% of the total maximum supply of Polemos tokens will be paid out to stakeholders as additional yield over three years.
The company says the Polemos guild will recruit, fund, train, and support participants to make money and learn through gaming, with an initial focus on the play-to-earn game, Illuvium.
The Polemos college will allow its members to participate in courses around supported games, blockchain, cryptocurrencies, and more. Individuals, investors, or even entire guilds can also generate additional revenue as 'Asset Providers' (APs) by staking idle assets for games that are integrated into the Polemos ecosystem.
"Competitive play is at the forefront of Polemos," the company says. "The Polemos DAO plans on supporting the adoption of esports in the blockchain gaming space by hosting regular championships, leagues, and other competitions via its own Esports Hub."
Using funds from the Partner Games Vault, which initially holds 10% of the total maximum supply of Polemos tokens and allows game developers to pay out additional yield inside their games, Polemos will strike early deals that include the right as official esports organiser.
"We strongly believe GameFi is going to revolutionise the entire gaming industry over the next few years," says Polemos co-founder, Sascha Zehe.
"The ownership of NFTs and the earning potential of play-to-earn will inevitably lead to the mass adoption of blockchain games. We not only plan to support this change through marketing and education, but aim to build Polemos into one of the leading projects by capitalising on the early-adopter opportunities."
Polemos is an exclusive partner of the major online gambling operator Asian Logic, which owns one of the world's largest online gaming brands, Dafabet. In collaboration with Asian Logic, Polemos will launch with three networks of players: a large international workforce of online gamers, a Discord community network, and a network of elite gamers.
The company recently closed a $2 million round of strategic funding with co-leaders Delphi Digital, QCP Soteria, Framework Ventures, and Defi Capital. DeFi founders from Sushi, Aave, 1inch Exchange, Universe.XYZ, Altered State Machine, Coti, Tokemac, and Fei also participated.