1) Thanks for coming by Asia Blockchain Community. Can you tell us more about yourself? And if possible tell us something about your core team members too.
Thanks so much for inviting me to your diverse community! It is a pleasure to be here and foster education on MGH DAO and one of the future core trends: MetaFi – the convergence of DeFi and the metaverse. On a little side note: Experts believe that due to the strict regulation it will not necessarily be houses that will be integrated into DeFi, but digital native only assets, as it it is a far smoother process while still inheriting a crucial value, e.g. LANDS in the metaverse Sandbox. Our core initiators of the DAO are a diverse group of like-minded individuals from all streams of life. We do not see this as a job, this is much more than that to us. Our team is made up of Blockchain Enthusiasts and Architects, Game Developers, Legal Professionals, Tech innovators and Creatives. Above all, we believe in a blockchain-powered future that frees us from the oppressive mind-state of secrecy and inefficient corporate structures. Due to our diverse and heterogeneous backgrounds, we can have the most objective approach possible to the DAO we are building. We are able to keep each other in check, analyze neutrally and perfectly allocate someone’s resources where they feel most comfortable in as we have no shortages of talent.
I am the Founder of MGH DAO and have been in the crypto space since 2016. Apart from being on the founding team of Amazing Blocks, I am also the Co-Founder of the Tokenization Working Group at the European Blockchain Association, Founder of DAC and I proactively advise various crypto projects. Further, I am an author and podcast host. In MGH DAO though it is not so much about single individuals, the community spirit in fostering decentralized disruption!
2) What is MetaGameHub DAO all about? Is it NFT? Metaverse? Or? Tell us. We are all eager to find out more.
In a nutshell, MGH DAO is fostering the convergence of the metaverse, DeFi (MetaFi), NFTs, AI and oracles. On the one hand, the DAO curates metaverse based NFTs such as virtual real estate – LANDS – and on the other hand, the DAO governs the metrics of the MetaFi ecosystem. Here, we have a sophisticated AI-based pricing tool which through an oracle can provide transparent NFT pricing. Further, by solving the issue of price transparency, the members of the DAO can either stake their NFTs in a pool to generate network rewards (collateralization process) or purchase so-called NFT Pool Tokens (NPTs) which are tracking the value of all the locked NFTs within one pool and this allow holders to participate in the value growth of said NFT that is guaranteed by the oracle. Anyone that is interested in finding out more, can read our Whitepaper or of course reach out to the MGH DAO members. I am happy to take any questions! The beauty about the crypto space in my opinion is the increased degree of collaboration compared to the legacy systems. MGH DAO wants to be a part of that.
3) What are your tokenomics like?
Generally, while the token is obviously one of the most important aspects within the MGH DAO, we strongly believe that projects should focus more on actually building a holistic ecosystem rather than making projects always about the tokens. In the case of MGH, we have designed the tokenomics in a way that is seamlessly integrated in the DAO ‘s dynamics to create organic growth. When it comes to the tokenomics, we focus on 3 core areas. Utility: Access to the MGH ecosystem, governance within DAO and treasury, over network rewards, pool proposals, NFT curation and much more. Community Driven: 44% of the whole supply will go to liquidity providers, stakers, voters, marketing bounties and airdrops. Sustainability: Decentralized token allocation providing a fair and sustainable environment for the community.
4) Please share what are some of the problems in the NFT market? How are you planning to solve it?
Why does the world need this? We have defined the following pain points thus far which will be jettisoned by the MGH DAO model:
a. Intransparent and sole emotional decision making when purchasing an NFT
b. Lack of utility for NFTs other than “hodling” them
c. Enormous prices of valuable NFTs are making it hard for retail investors to participate in this industry other than buying cheap NFTs that may not be worth anything – NPTs allow the possibility to participate in the value increase of this industry
d. Collaborative governance of NFT pools allow better diversification and access also for inexperienced investors to the knowledge of “Crypto OGs” that stake their NFTs in a pool
e. DeFi is a hype, NFTs are a hype, the metaverse is a hype, DAOs are a hype, AI is a hype, Oracle is a hype. Often projects focus on only one of these aspects. We provide convergence and a holistic ecosystem aimed at sustainable growth.
f. Often – even in crypto – teams are regionally located. We are not. We have members actively participating from Ghana, Colombia, Germany, Japan, USA, Australia, Vietnam, South Africa, Mexico, Spain, Turkey, Tunisia, Switzerland and more. This diversity allows us to really be on par with the global vision of decentralized organizational structures and therefore truly being a DAO.
The MGH DAO will allow the curation of a platform that enables access to decentralized NFT pools and NFT Pool Tokens (synthetic assets tracking the pool value) and thus enhancing the value factor of NFTs without the sacrifice of ownership for NFT holders. Furthermore, MGH DAO will provide a sophisticated AI-based oracle that allows the analysis of the respective NFTs fair value and seamless, transparent integration into the NFT Pool. Community members can stake their NFTs and MGH tokens to generate a passive income (network rewards for NFT staking) while participating in the governance of the ecosystem that is 1) the DeFi and AI tools and 2) the NFTs owned directly by the DAO itself. The NFT staking is an important factor for us as we want to support the allocation of value while protecting the ownership. The initial focus will be on metaverse related NFTs as this evolving market has some of the most auspicious NFTs there are out there (e.g. LANDS).
5) What is $NPT? How does it interact with $MGH?
NFT Pool Tokens are a concept we developed in order to primarily allow also retail investors to participate in high-value NFTs. Everyone in crypto always speaks about decentralisation, accessibility and so on. But where is this when JPGEG are sold for millions? Sure the entire NFT craze is amazing, we just aim to complement this and provide accessibility for everyone. Further, actual NFT stakers are also incentivised by network rewards for providing collateral. Users can select a pool based on their NFTs, lock them in along with MGH as collateral and mint NFT Pool Tokens in return. This allows the user to diversify their NFT holdings and hedge their overall exposure. MGH plays an integral part in the NPT life cycle. It allows 1) access and 2) governance of the respective NFT pools.
6) How does your DAO work? Is there any governing structure?
MGH DAO token is issued as a future utility token. We started the project on Aragon, did, however – while Aragon is already a great infrastructure – see limitations in regards to what we envision to build when it comes to the DeFi tools, treasury management, NFT curation and generally the governance as well as interoperability. Therefore we chose to develop our own platform while collaborating with players like DAC, a DAO and metaverse Aggregator we are building and Amazing Blocks, where token infrastructure and ID management will be provided. Furthermore, we are onboarding various other DAOs, here I have to be careful as I cannot say much more, but it is really going to be amazing to see these various projects evolve. The goal is that one person can seamlessly and most importantly intuitively can jump from DAO to DAO and participate whilst not necessarily having to rely on money per hour work principles. When it comes to MGH, we currently have a treasury on Aragon with funds and will keep main decisions over there until the holistic platform is finished with development. I am really excited about the path ahead! Our core goal is to have 1) every decision dynamically made by the community members, 2) automate everything as much as possible by e.g. decentralized autonomous agents and 3) in the future not solely rely on token-based voting to allow a more decentralized and fair ecosystem which everyone can benefit from. Metrics such as positive contributions, time spent in the community etc. will also become relevant. I also like models such as quadratic voting that even Vitalik speaks on. It will be amazing to see this develop.
7) What are your marketing plans like before the MGH DAO public launch and after?
We strive to foster community management as much as possible and additionally pursue an avenue of education that will help enhance mainstream adoption. Here we have several aspects which we do: 1) a special by-monthly collaboration with a community chosen artist that will create 10 unique NFTs, 2) will launch Meta – an avatar series, very cool but cannot share more at this point, 3) the DAO community will vote on a series of LANDS purchases to be curated by the DAO, 4) a community-oriented bounty program, 5) a lot of educational material such as articles, videos, events and town halls, 6) collaborations and partnerships across various channels and a lot more!
8) What are the current revenue streams? What other income streams have you planned for?
The goal is to establish a self-sustaining ecosystem! The core actor here will be the MGH DAO treasury which mainly curates NFTs that can represent anything from art, IP, data, avatars, LANDS and more to allow a healthy life-cycle. Furthermore, contributors are incentivised by continuous network rewards that allow them to be active members of the community. Consequently, a win-win situation for the entire DAO can be created without having to adhere to legacy-based income or revenue models.
9) What partnerships and MOUs should we be expecting in time to come?
We already have partnerships in place and will continue to push this aspect. Collaboratively shaping the Web3 and metaverse convergence is an endeavour with such a vast array of possibilities that working together really enhances your opportunities to grow in this space. Interoperability, not with friction like legacy systems, but frictionless is a key factor in seizing market share. Therefore we really allocate a lot of resources to this. We have thus far partner with players like MyReality DAO LLC – a metaverse game development studio, Phoenixelevencapital – a VC and incubator, ITRMachines – an AI development company from Columbia, Haytic – a digital infrastructure provider, DAC – a DAO and metaverse Aggregator and Amazing Blocks a tokenisation and MetaFi player from Liechtenstein. Many more, still confidential partnerships are going to be announced soon, stay tuned!
10) To end this segment, can you share an inspiring quote for our community members?
Let’s collaboratively break barriers, foster decentralized disruption and transparency while reshaping the centralized legacy structures. It is crucial that we approach powerful technologies such as blockchain, A(G)I, IoT and others from a decentralised ankle in order to allow them to actually enhance our world. Here, education is key and we should all do our best to further invest time and money into this!
