On Wednesday, Mythical Games, a Los Angeles-based video game development company that develops games for non-expendable playable tokens, announced the release of tThe Mythos Foundation to manage its blockchain gaming ecosystem and democratize gaming.

John Linden, CEO of Mythical Games, explained that the foundation is a decentralized autonomous organization (DAO) or a group that is governed by users who collect or earn their tokens.

According to the announcement, the DAO has enlisted several participating game companies (such as Krafton, Ubisoft, Marblex, Com2uS, FaZe Clan, Gen.G, Sandbox Gaming, Animoca Brands, Hadean, Klaytn, among others) and advisors prominent in a kind alliance around the blockchain and its token. The process took about a year to resolve, as the company wanted to have a strong governance.

According to the report, Mythical Games created the Mythos Foundation to manage the day-to-day operations of its Mythos DAO blockchain gaming ecosystem. Mythical has been leading the charge for this type of game for a few years now and has gained vital support from various advisors.

Supported by leaders in the Web3 gaming industry, the Mythos Foundation’s goal is to lower the barriers to entry for innovative game developers who want to build thriving game and property game economies.

The Mythos Foundation also aims to democratize gaming and enable players and creators to participate in gaming value chains through the Mythos ecosystem designed to support multiple blockchains, unified marketplaces, decentralized financial systems, and decentralized governance mechanisms. .

Mythos has also launched the Mythos Token (MYTH), an ERC-20 mainnet token with a fixed supply of 1 billion tokens. The token will deliver Web3 gaming utility and facilitate ecosystem governance, thereby giving gamers, developers, publishers, and content creators the opportunity to participate and contribute to a truly decentralized ecosystem.

DAO structures that empower players

There is a growing influence of decentralized autonomous organizations (DAOs) in the crypto gaming sector. Recently, a significant number of blockchain gaming platforms have gained support to form their DAO communities.

In January, Vietnamese blockchain gaming guild Ancient8 raised a $4 million seed round to accelerate the development of a DAO to build a community and software platform that allows users to play and build in the metaverse.

And the likes of Yield Guild Games raised $4.6 million last August; OP Games raised $8.6 million last October and GuildFi also secured a $6 million seed round in November for the same purpose.

The advantage of using DAO to build gaming communities is that they offer a transparent decision-making framework that works at the grassroots level. In this way, they empower the members of gaming communities that have traditionally been at the base of hierarchical structures.

Successful gaming DAOs provide access to capital, a strong sense of community, and reduced barriers to entry into the crypto gaming landscape.

The bottom-up concept allows each stakeholder to submit proposals and ideas that can be transparently and directly judged by other members of the guild.

This clear decision-making process is particularly important in games, which are notorious for attracting toxic people who can affect entire communities online.

A key factor for users to become part of a DAO is the opportunity to earn money and benefit from the growth of the underlying tokens, especially in the play-to-win space.

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