FIO Gaming Strategy

Owned by Eric Butz
Nov 17, 2022
3 min read

This document tracks discussions regarding the development of a business model focused on the blockchain Gaming industry.

Executive Summary

There is a strong case to be made to focus a majority of our marketing, BD, and integration resources on a Blockchain Gaming vertical. These include:

  • We talk about being “ahead of the curve” with respect to crypto adoption, but there is a strong, and growing adoption of blockchain-based gaming. Besides DeFi, gaming is where the transactions are.

  • There is a clear and compelling FIO gaming story: domains as clans, crypto handles as gamer tags and usernames, mapping addresses to send and receive blockchain assets, using NFT signatures to secure those assets.

A multi-phase Gaming strategy is proposed:

(1) Pursue the existing domain-centric business model, but focus a majority of resources on the Gaming vertical

This plan reallocates the existing budget. Web site, marketing, integration, dashboard, and development resources would be redirected towards a Gaming audience. Incentives and rewards for wallet and exchange integrations would be reduced or eliminated.

The use case for Gaming integration will focus on Dashboard integration, but needs to be fleshed out. See for example one suggested gaming workflow. Additional features to the chain and/or dashboard may be required.

(2) Continue R&D into a viable transaction-based model for FIO

A revenue model built on the current structure of FIO fees (not including domains and handles) is not viable unless you have many millions of transactions (the foundation currently collects 5% of a $0.02 fee per bundle spent). Yet, there are many L1 chains that are built on transaction based revenue models. Additional work needs to be done to better understand existing models and to determine if a (gaming-centric) transaction-based model could impact FIO token valuation and bring in meaningful revenue.

This R&D would leverage existing resources and would not increase budget. The output would include a worker proposal that could be presented to the steering committee detailing the plan and budget impacts.

Feature and integration ideas

The following lists out previously discussed ideas that are relevant to a gaming-centric strategy.

FIO Assets

Overview:

Pros/cons:

  • See document for discussion of pros/cons

Stake FIO to gain access to Domains and Handles

Overview:

Pros:

  • Does not require games to track individual transactions

  • Instead of giving away free crypto handles, it requires games to stake to get access to handles

Cons:

  • Integrator still needs access to FIO libraries to register domains/handles

Resource requirements:

  • Create “gaming staking” feature on chain

FIO as Single Sign-on for games

Overview:

Dashboard Integration: FIO Handle as user name for Wax-based games

Overview:

  • Integrators would centrally register and manage handles and domains

  • Users wanting more control over their domains/handles would be redirected to the dashboard

  • See:

Pros:

  • Does not require that users have FIO public/private keys

Cons:

  • Integrator still needs access to FIO libraries to register domains/handles

Resource requirements:

  • Add “gaming UX” to dashboard

  • Domain transfers to dashboard would require user to pay for domain (possibly with in game tokens?) 

    • Maybe this is part of the “gaming staking” feature?

Additional ideas

Micah’s - 

  • Clans - In order to create a clan in integrated blockchain games you must buy a custom domain. 

  • Licensing the FIO chain to WAX or other rich blockchains to pay us directly and license our tech and allow users to create free handles and domains within games. 

  • Jacob from MetaOps highly suggested a FIO web3 wallet - he said that would make things extremely easy and seamless. Being able to pay for FIO tokens via Credit Card in game through the wallet or whatever interface. 

  • Making the chain more exciting with a gamified sentiment on the FIO chain itself, whether thats developing small fun blockchain games mini games to earn a domain or fio handle. 

 

Adam -

FIO Chat mining

  • Accounts linked to telegram or discord that hold domains can earn FIO by engaging in real conversation in the channels

  • Increase engagement - used by NFT projects

  • Earning bonus for every domain held and every X amount of FIO staked 

  • Rewards are very small and very competitive. Domains registered in telegram/discord use tpid for mining reward pool

  • Chat mining example - DUST

  • Some discord bots available