In game and on-chain: guilds can become companies

Blockchain technology will facilitate a future where games and their guilds can exist entirely on-chain. With the advent of security tokens, guild ownership can be bought and sold at ease. Should the participants of the group work cooperatively to harvest resources then they can generate wealth like a company.

I don’t think this will be possible without blockchain technology!

Clans and Guilds — a loose structure of friends

In the older days of online gaming player groups were informal with little in way of in-game functionality that supported organisations. Players could play together and even work cooperatively to achieve something greater, but such activities were lacked formal structure and so required a lot of trust.

I remember spending far too much time mining in RuneScape (image source)
Here is a idea of the housing in a player run town in SWG (source)

Loss of value: time and effort

Like many online games, eventually people get bored and leave. It’s a natural part of the any game’s lifecycle. In the gaming world you don’t own your character or your assets, so all of the sunk time and effort is (generally) non-recoverable. This is due to lack of true ownership. This problem is magnified by the considering the additional time and effort spent in running a guild.

When guilds can become companies

Let me dream about how this could change in the future. Guilds in future blockchain games will be registered on-chain: smart contracts can maintain a list of members and what their associated permissions are. Both the tracking and enforcement of privileges can be done on-chain.

Guild management tools became more advanced and this made life easier (game: SWTOR, source)

Will guilds be some of the earliest on-chain securities?

I think it is possible and it would even be a good test case of securities that exist entirely on-chain. Gaming guilds are naturally managed online and players are used to doing everything electronically. This make them ripe candidates.

Security tokens + guilds

Mesh these two ideas together and you get gaming guilds that can become on-chain companies (“securities”). Ownership of the guild can be easily transferred and with true ownership, the income generated can be distributed fairly among the owners without the developers being able to interfere.

This will only be possible with blockchain technology.

How to neatly manage these globally distributed people via an on-chain entity? This question is essentially what DAOs are trying to solve. Guilds can become for-profit DAOs where ownership is distributed globally.

Visualising cross-chain interoperability (Source)

About me

Currently, I work at the Web3 Foundation, covering numerous responsibilities (such as grants, communications, and collaboration). This blog is of a personal nature. It just so happens that my hobby aligns with work.

Questions / Comments?

You can create a reply to me here on Medium, or reach out to me on Twitter: @EAThomson.

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