Introduction to CrickDAO
Fantasy sports are not new. In the last several years, fantasy sports have gained a lot of traction among the international community of gamers.
Globally, football (soccer) has dominated the fantasy sports scene. Cricket has entered the list only after the growing popularity of the Indian Premier League (IPL).
Today there are several fantasy cricket platforms available. However, all of them lack one thing. They do not give complete ownership of the winnings to the gamers. Let’s explain what it means to not have complete ownership of your in-game assets.
The question of ownership in games
At its core, fantasy sports is indeed another form of a video game. While it is very different from the most popular video games players are used to (think of FIFA or Fortnite), it is nothing but a platform where gamers try to win.
However, there is an element of money associated with fantasy sports. Also, whether you win or lose depends on the actual performance of the players who are on the field. In that way, fantasy sport is a niche within the broader gaming community.
Be it fantasy sports or otherwise, game studios have never given complete ownership to the gamers until the rise of GameFi.
GameFi refers to gaming and finance where there is a financial element to the video game. The term is directly related to games that use NFTs and cryptocurrencies to extend ownership rights to gamers.
GameFi is a revolution in itself. Before its advent, there was no model in place that could give the actual users of a platform the right to own their in-game assets.
In what is now crypto folklore, the founder of Ethereum Vitalik Buterin said that the inspiration behind Ethereum came when he lost all the progress he made in a video game. It happened because the developers of the game owned all the data of the players. Whatever progress they made was in the hands of the developers and the owners. The actual gamer is nothing for a surrogate who is becoming a part of the in-game assets. In other words, everything about video games was centralized.
Many NFT-based games have reached unprecedented heights of popularity. Be it Roblox or Axie Infinity, play-to-earn (P2E) games have become unexpectedly popular in the global space. The reasons for this popularity can be easily traced. To begin with, players were tired of not owning anything that they earned in a game through their time and effort. When this new model showed up, they were quick to hop on the bandwagon, and for good reasons.
How does fantasy cricket work?
Fantasy cricket works like any other fantasy sport — you win based on your predictions. It works differently for team sports and individual sports, but the fundamentals are the same.
In fantasy cricket, you make a team of players who are playing in real tournaments and matches anywhere in the world. Depending on the performance of the fantasy team you made, you either win or lose. There are degrees of wins and losses as well. If your predictions were pinpoint accurate, you would win by a big margin. Similarly, you can also lose by a big margin.
The word fantasy in fantasy cricket comes from the ability to make a team however you wish. You can mix and match the players of both teams and appoint the players of your choice to captaincy. Overall, it is a very enjoyable mode of gaming with fans around the world. Fantasy sports is now among the most popular segments of games available on the internet.
The problem with existing fantasy cricket games
All existing fantasy cricket games have rather simple gameplay. The pool of prize money is created by the contributions of every participant. From this pool, winners get money for the performance of their teams.
On the other hand, the entire process is controlled by the game owners. They decide the number of tournaments, the prize pool, how many teams you can make, and so on.
The problem with such platforms is that they offer nothing more than the winning amount to the gamers. On top of that, the platform itself decides the details of the winning money. They determine the size of the pool, how many gamers can participate, the minimum amount you need to spend, and so on. In short, gamers have no control over the direction of the game.
Another pertinent problem with the existing model is the possibility of the platforms going defunct at any moment. If these platforms decide to quit operations one day, there goes all your money and effort. Every progress you ever made would be forever lost.
These problems demand a solution, and that’s where CrickDAO comes into the scene.
How is CrickDAO solving the pain points of fantasy cricket?
CrickDAO is making a major overhaul to the very structure of fantasy cricket. To begin with, CrickDAO is not governed by the developers or the game studio. The participants themselves earn governance power through their progress in the game. In other words, you are given the power to decide the course of the game beyond a threshold of progress. However, that’s just one of the many things that CrickDAO is changing about fantasy cricket.
The most important revolution of CrickDAO is with respect to its ownership model. It does through with the use of NFTs, which we will get to in a while. Apart from that, CrickDAO has its own native token ($CRIC) that participants can use in the in-game economy. As you should sense by now, CrickDAO is making a new community of cricket fans and not just another fantasy cricket game.
Before we get into the gameplay and the role of NFTs, it is important to understand that the very aim of CrickDAO is different from other platforms. CrickDAO does not intend to be a gambling or sports betting platform. The essence of it lies with the gamers who use the platform and get complete ownership of everything they do in the game.
The role of NFTs in CrickDAO
Today you will hardly find anyone who has never heard of NFTs. The rise of NFTs has been phenomenal. People became millionaires overnight by creating and selling NFTs. It is one of the most common search queries in Google and other search engines.
Anything that rises to prominence unexpectedly also brings with it a lot of doubts and questions. The same goes for NFTs. People have already started to call NFTs scam, fraud, bubble, and other things. What naysayers forget is the underlying technology of NFTs has nothing to do with the people buying pictures of monkeys for thousands of dollars.
The core purpose of NFTs is to guarantee ownership. It is much like a legal document that gives you ownership of a car or a house. Unlike legal documents, there is no way to forge an NFT. Sure, you can create a new NFT with the same contents. But you cannot forge the authenticity of an NFT originally issued to you. Through the use of two separate private and public keys, NFTs guarantee ownership like no other existing method. It would not be an exaggeration to call it the most foolproof method of transferring ownership.
NFTs are at the core of CrickDAO. Every gamer on the platform is represented by an NFT. That means you do not merely have a virtual profile on CrickDAO’s server. Instead, you own your profile in its entirety through an NFT. Every progress or change is automatically transferred to your NFT.
CrickDAO takes its NFT-based functionalities a notch higher with Dynamic NFTs. NFTs can be both static and dynamic. Static NFTs are more common in GameFi than dynamic NFTs, and part of it has to do with the technical complexities of dynamic NFTs.
To put it in simple words, dynamic NFTs can change their content even after they have been issued. It is not possible in static NFTs since their data is fixed on the blockchain. Dynamic NFTs, on the other hand, use smart contracts to dynamically change data according to external conditions.
Progression-based games are among the many use cases of dynamic NFTs. Instead of giving users an NFT that cannot change depending on their performance, CrickDAO gives its users access to dynamic NFTs. It is a complete gamechanger in terms of how fantasy cricket or other games work.
The role of Crypto in CrickDAO
NFTs are not the only medium for transferring assets to the gamers in CrickDAO. The second method is through its native $CRIC token. Players can use $CRICtokens to create teams, settle disputes, and interact with other players. In other words, it is the currency of CrickDAO. By not using fiat currency in its operations, CrickDAO is creating a complete economy of its own. As a result, gamers can earn real money through the $CRIC tokens since these tokens have a distinct use case and value. It also gives players the chance to win more by playing more.
At the same time, the distribution of $CRIC tokens is free, fair, and transparent. 70% of the total $CRIC supply goes to the public. Those who hold the highest $CRIC tokens also have governance powers where they can make key decisions about the direction of the game. Players can also buy NFTs or receive payments for them through $CRIC tokens. $CRIC works like any other cryptocurrency, and its value will grow with the growing number of users and gamers. It’s not an abstract in-game currency that most gamers are used to. It’s a proper cryptocurrency with real-world utility.
Gameplay in CrickDAO
While a lot of innovation has gone into the governance and ownership models of CrickDAO, its gameplay is quite simple. Straightforward gameplay makes it easier for new gamers to understand how the game works and how they can win.
Like any other fantasy sport, users need to create their own teams in CrickDAO. They win or lose based on the performance of their team. The closer the prediction, the higher the winning.
While the gameplay is simple, there are innovations within it. For example, players can make an NFT of the teams they create and sell it on the marketplace. Players can also earn NFTs by progressing in the game.
It is worth noting that every progress in CrickDAO relates to financial perks. When you win anything in the game, you also win some digital asset that has real-world value.
CrickDAO: Vision and Mission
CrickDAO is the first cricket metaverse of its kind. None of the existing fantasy cricket platforms offer what CrickDAO does. It is a groundbreaking innovation in the fantasy cricket space.
The mission of CrickDAO is simple yet ambitious. CrickDAO seeks to be the global platform for all cricket fans. That’s why it is geared towards being a cricket metaverse and not just a fantasy cricket platform. CrickDAO is set to be the leading community of cricket fans who love and enjoy the sport.
Another important vision of CrickDAO is to transfer the governance of the platform to the community. By doing this, the players get complete control over the platform they use. Users with governance power will determine the course of the game. It will be a true play-to-earn platform for cricket lovers from around the world.
By bringing cricket on metaverse, CrickDAO is changing how we interact with and watch the sport. Any cricket fan who wants to put their skill and knowledge to use will love the experience CrickDAO provides.
We hope this introduction will familiarize you with CrickDAO and how you can also be a part of it. CrickDAO is set to be the biggest thing in the world of fantasy cricket. Since the platform is still in its nascent stages, early adopters will get many perks and advantages. CrickDAO is made by cricket fans and for cricket fans. It is a result of innovation and passion. We urge you to check out CrickDAO yourself and discover what it has in store for you.