Hey Frens, I’m new to the space and I like that the community is inclusive of all ideas so I thought I would bring up old notes I had for a crypto project that didn’t take off as I don’t have the skills. I don’t want to put a thesis here for the DAO, just an interesting scenario and a basic proof-of-concept.
Aavegotchi has everything it needs to establish gaming contest smart contracts. Here is an example using a fair model, one that pays modestly. It is also great that snake is a game on Aavegotchi already as it’s what I wrote most of it around.
In snake, players will enter a contest of playing the same game, at the same starting point, like snake.
Players will pay X set by the contest creator per try at the high score. Players are first scored by their high score, if there is a tie breaker, time can be used. Generally the highest score in the shortest amount of time will rank you higher in the contest. A player can try as many times but has to pay the same amount every try. However, if a player wins, only their highest score will be used, and the other tries will be given back but still used for staking during the contest.
Staking? Oh yes, to give more consideration to prize money, All coins into the contest will be staked throughout the contest, the time can be variable. A contest could be a few days, a few weeks, but I’m more interested in giant six month gaming contests. With something like a fair model, all you need to earn money is to get over the halfway point.
After the contract is done, all consolation occurs to group entries with their highest score and the amount of times they entered the contest. If someone enters 10 times and gets one win in top 30%, then they will get their ten entries back with one reward calculated for the top 30% rank. If there are tens entries, but none of that player are above 50%, then they get nothing. Tiebreakers use time in the case of snake, and if there are two people with the same score, and same time on the 50% spot where the total number of players is even, then neither get a prize. The number of winning players must always be less than or equal to losing players.
After the winners are considered, and consolation grouped, the prize money is calculated. The prize money is calculated as such, with all funds left, they will be distributed like a basic right triangle for the top 50% of players (winners). The winning funds involve balancing out highest scores of each wallet, and giving the winners the losing half’s entries. In this way, you may get over 50% but not much rank, however you will always win double the winning entry. The idea is to always get out more than what you put in if you win. The contest starter takes a small percentage of the staking rewards, leaving most of the contract’s rewards undisturbed.
Total_Distribution = multiple_losing_entries + staked_value.
m = Total_Distribution / Winning_Players
Prize(player_rank) = (m * player rank) + 1 entry
There are other reward models, like winner takes all for one on one, or guild team competitions. I wanted something like an arcade protocol that involves Games as NFTs and allowing competitions to be started by anyone that owns the game. I’m unsure who would begin competitions in Aavegotchi games, it could be a daily/weekly/monthly contests set by the game creator. This could facilitate E-Sports in the future as well as make Gamefi more accessible. The main consideration I have when looking at GameFi is how expensive everything is. NFT gaming is its own thing, and something like this could act as a financial backend for game events for those games. It could also act as a financial product if you prolonged the distribution to increase the prize money, creating a gaming bond.
I think this is a decent idea and I think it’s more of a “when”, not an “if” idea. Contests like this are more like keeping your hand on a car until your the last standing, rather than the legally ambiguous gambling. Someone with high skill but little money could make money in the metaverse through skill alone, with upstart costs for one player (at the minimum) would be borrowing 1 Aavegotchi, and 1 entry fee, making GameFi very accessible for those that find Aavegotchi. The reason this idea didn’t work well with Eth is because of gas fees. But the idea is so simple, just like the Aavegotchi games, I would think this could be easily done but nobody has done it yet.
TL;DR - Gaming contest idea to give games easy financial incentives and challenges players to be the best. This may be a novel idea, but generally most P2E crypto games have terrible payout structures.