QuickSwap Governance Discussion: Should We Feature a Gaming Hub Powered by VersaGames?
In 2022, the crypto community stands in unanimous agreement: blockchain gaming is poised to play a major role in catalyzing the adoption of the blockchain ecosystems and the native digital assets they support. We’ve already seen Axie Infinity players in Southeast Asia using their monthly earnings to support their families, and that’s just the beginning. As a project that’s been consistently on-trend and ahead of the curve, QuickSwap is eager to get a foothold in the rapidly growing blockchain gaming sector by featuring a one-stop gaming hub where the Polygon community can come together to explore all the latest web3 games. After examining a series of potential opportunities, we would like to present the most promising opportunity to add value to the QuickSwap and Polygon communities: featuring a Gaming Hub powered by VersaGames.
Before you take the deep-dive, here’s a rundown of the key facts and figures:
- First and foremost, QuickSwap is positioning itself to become a one-stop shop for the entire Polygon community — that means covering their interests, demands, and more.
- VersaGames intends to build the community-focused web3 counterpart to the online gaming hub Steam has built in the web2 and traditional gaming space.
- Our intention is to open a discussion centered on joining forces with VersaGames and Polygon Studios to bring a gaming hub to QuickSwap.
- A featured gaming hub offers many potential benefits and incurs very little risk for the ecosystem.
- If the community votes to feature a gaming hub, QuickSwap’s users will be redirected to VersaGames where they’ll be able to access all of the top games on Polygon.
- Featuring a gaming hub stands to boost community engagement, enhance QuickSwap’s broader market appeal, and increase revenue for both QUICK stakers and the QuickSwap Foundation
- VersaGames already have their multi-chain gaming hub live and estimate they can have a Polygon-only version ready to launch by Friday, October 14th should the community vote in the affirmative
- As we hold community input in high regard, we’re introducing this discussion before conducting an official governance vote.
- That being said, we would like to move quickly and ideally pass this proposal to allow VersaGames, Polygon Studios, and QuickSwap to come to consensus on final details and launch the gaming hub.
- We ask that you please read through this document carefully and thoroughly before forming and sharing your opinion — it pays to be fully informed!
- Once you’ve read through, visit our Reddit discussion forum to ask any questions and chat with the community: https://www.reddit.com/r/QuickSwap/comments/xse1uu/quickswap_governance_discussion_should_we_feature/
Hello Dragonites! Today we’re excited to introduce a governance discussion about something we’re confident will drive more users to QuickSwap’s UI. We would like to feature a gaming hub powered by VersaGames in conjunction with Polygon Studios. We believe featuring this platform will introduce QuickSwap’s community to many new games, enhance the Polygon ecosystem, and help bridge the communities of Polygon’s various gaming projects.
What is VersaGames?
VersaGames has established itself as the one-stop shop for web3 gaming. Using the VersaGames platform, users can discover up-and-coming web3 games, participate in community events to win prizes, and engage fresh content and other community members, as in a traditional gaming hub. VersaGames has also launched the $VERSA token along with a staking feature that allows users to support the platform financially.
What is Polygon Studios?
Polygon Studios serves as the homebase for all NFT, gaming, and metaverse projects running on the Polygon protocol. The organization is largely focused on building partnerships with the ecosystem’s leading projects — especially large-scale NFT projects for globally recognized brands and intellectual property.
What is a Gaming Hub?
A gaming hub is an online forum of sorts that facilitates social interaction, events and competitions, and other forms of engagement amongst the individuals and organizations that make up the traditional gaming scene — that is, games based on standard consoles and PCs (personal computers). At present, the world’s leading gaming hub for traditional games is Steam, which has amassed a vibrant community consisting of tens of millions of gamers across hundreds of leading titles.
How would QuickSwap’s Gaming Hub work?
In much the same way that Steam has built a massive community of traditional gamers, VersaGames is hard at work building out the infrastructure and forming a community for the budding web3 gaming space. The VersaGames platform offers a full slate of features tailored to web3 gamers, including tournaments, articles and video content, quests, a knowledge repository, and more. The web3 gaming space is in its early stages, so there is no better time than now to prepare for a massive influx of users!
By featuring the VersaGames gaming hub on our platform, QuickSwap would benefit from increased exposure, BD synergies with both Polygon Studios and VersaGames, stronger community activity, and of course, financial opportunities.
Liquidity as a Service
Versa’s liquidity as a service program is exclusive to QuickSwap. All partners they’ll offer this product to will be on QuickSwap. This will increase volume and liquidity on QuickSwap, and indirectly increase revenue for stakers in the Dragon’s Lair.
Breakdown of Revenue Split
- 30% of ad revenue will go to Versa for the 1st 6 months (if over $25k/month, Versa will get 40%)
- 70% of ad revenue will go to the QuickSwap Foundation, which we use to fund our development and operations costs, pay for marketing initiatives, and otherwise benefit our community
- After the first 6 months, Versa will get 40% of the ad revenue (if ad revenue exceeds $25k/month, Versa will get 50%)
- QuickSwap Foundation will get 60% of ad revenue (if ad revenue exceeds $25k/month, QuickSwap will get 50%)
- 40% Versa (1st 6 months)
- 60% QuickSwap Foundation (1st 6 months)
- 50% Versa (2nd 6 months)
- 50% QuickSwap Foundation (2nd 6 months)
- The QuickSwap Foundation will get 150k VERSA tokens / month for 1 year, vested
- If ad/sponsored revenue after 4 months is under $20k/month, VERSA tokens will be reduced to 75k/month until ad revenue exceeds $20k
Versa’s Monthly Revenue:
- QuickSwap will get 10% of Versa’s net monthly revenue paid at $0.07/token in VERSA
- 1 year vesting period
*This is all for approximately 1 year, and will be renegotiated at that time.
- All subject to change depending on market conditions and good faith.
It is difficult to gauge and estimate revenue generation from new projects — especially in nascent market sectors and in unpredictable market conditions. However, QuickSwap’s existing banner advertisement tiers are capable of generating $100,000+ USD per month based on customer interest and bundle selection. While variable market conditions play a major role in affecting the success of advertising campaigns, a new foray into the blockchain gaming space will certainly optimize QuickSwap’s chances of attracting new customers, and expanding its user base that potential customers are looking to reach.
Weighing the Pros & Cons
Risk and reward are always correlated, and carrying out cost-benefit analysis is an important process in evaluating a new project or initiative. Here are the key points to consider:
- Liquidity as a service means more volume and liquidity on QuickSwap, which will indirectly increase revenue to stakers in the Dragon’s Lair
- Increase in community engagement
- Synergies for QuickSwap incorporating DeFi and GameFi
- Expanded product offering for both QuickSwap and VersaGames
- The increase from ad revenue will benefit the QuickSwap Foundation during a tough bear market to ensure that we can continue building and expanding
- dQUICK and VERSA stakers will gain early access to exclusive launches of game
- Versa’s team is entirely building the gaming hub. This will require no development power from QuickSwap
- Sponsorship positions for web3 games
- Three-way partnership among Quickswap x Versa x Polygon Studios to support and onboard web3 gaming studios to Polygon
- Increased exposure for web3 gaming projects
There are no immediate cons or risks to featuring a gaming hub on QuickSwap. Of course, all projects and initiatives do come with opportunity costs. Should the gaming hub fail to attract new users, generate revenue, or add value to the existing Polygon community, the resources and time that went into the project could arguably have been invested elsewhere. Otherwise, there is not much to lose.
To us, the benefits of featuring a gaming hub vastly outweigh any potential cons, and the project does not require QuickSwap’s established ecosystem to take on any additional risk. We are excited to proceed, and we hope our community will share our enthusiasm as we take on blockchain gaming — one of web3’s newest and most potent sectors!
How would this impact me?
As a member of the QuickSwap community, you stand to benefit in a number of ways. For one, you will be able to access a breadth of up-and-coming blockchain games directly from the QuickSwap UI. In addition, you stand to benefit financially if you are a Dragon’s Lair staker. Most importantly, as QuickSwap explores new synergies with VersaGames and Polygon Studios, you will be in the know and ready to capitalize on any and all opportunities that arise, be they in blockchain gaming space or DeFi and GameFi initiatives. There is a lot to look forward to!
Be sure to visit our Reddit discussion forum as your favorite team and community discuss this proposal. If the community seems on board, we’ll release a formal governance vote in a few days. If that vote passes, we’ll let VersaGames and Polygon Studios know and get it launched on Friday, October 14th!