- Game7 has launched Summon, a web3 community management protocol powered by Soulbound NFT.
- The platform rewards community members in a variety of ways, including power, status, and influence, not just money.
- This tool assigns Soulbound NFTs to each member and evolves as members contribute, unlocking higher rewards.
Game7 has launched Summon, a gamified community management protocol that rewards Decentralized Autonomous Organization (DAO) members and the web3 community for their contributions. Each DAO member is given her Soulbound NFT, which evolves as she contributes to the community.
Summon’s auto-reward mechanism can be used to solve one of the biggest challenges facing the web3 community. According to Game7, “The Web3 community suffers from a free-riding problem. Early community members are allotted or buy governance tokens at low prices, but don’t contribute in the long run.”
Therefore, even if late participants to the organization contribute more, their ability to influence decision-making in the community is limited by the number of tokens they hold.
Summon is built for easy integration, making reputation-based DAO experiences more accessible to the community.
Commenting on the release at this year’s ETHDenver event, Josh Rio, Game7 core contributor and head of product at Summon, said: As a result, it suffers from many challenges due to the standard “one token, one vote” governance model. ”
Game7 wants to align DAO governance with the evolving industry by enabling organizations to reward those who have contributed the most to the ecosystem with power, influence, and access.
Summon rewards users with experience points (XP) as they complete quests and tasks, automatically increasing their rank within the community. This allows users to unlock higher rewards and better features in real time.
“By tracking, measuring and rewarding contributions, Summon is able to provide decision-making power to those who invest time and effort, as opposed to those who invest only capital and cash.
Basically, those who contribute the most receive the most experience and boost their ranking in the DAO. Ultimately, communities will be governed by “a model that distributes power and sovereignty to the most productive members of the ecosystem.”
Steve Mahana, Head of Technology at Summon, commented: They may not be sold or transferred. Looking at a user’s XP, we can see that the user contributed to the ecosystem and earned influence, not bought it. ”
Soulbound tokens are becoming the preferred option for community management on web3. Last month, YGG said it would use a portion of the proceeds from its $13.8 million private HIS token sale, led by A16z, to accelerate the development of its Soulbound HIS reputation token.
In December, web3 infrastructure and payments giant MoonPay launched an NFT loyalty program powered by Soulbound tokens.
Last June, gaming community Saga, backed by Animoca Brands, also revealed it was developing a platform to utilize soulbound tokens.
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