A Lordly Arrival
Understanding the Surge in BiblioDAO's $LORDS Token
By O_Excess
BiblioDAO, with its $LORDS token, has recently captured significant attention in the Web3 space. This surge in interest can be attributed to a combination of innovative onchain gaming developments and strategic moves within Starknet. As of this writing, $LORDS is trading at .36 USD, up from .11 USD four days ago. Similarly, the governance Realms NFTs, are up 250% from .26 to .65 Eth.
So, why all the excitement right now? Let’s break it down.
Long-term Organic Development
Two years ago, inspired by the release of the original Loot Project, members of what is now BiblioDAO’s Core team considered which ecosystem made the most sense for fully onchain worlds. They made the difficult decision to build on then-nascent Starknet, using a programming language that was not EVM compatible. This decision, made at the peak of the last crypto bull run, ultimately sacrificed short-term hype and quick growth at the outset for riskier bleeding-edge technologies that theoretically could offer more intensive computational power while still inheriting the security of Ethereum.
Ultimately, BiblioDAO along with several other aspirational projects like Influence and Dope Wars (also inspired by the original Loot Project) took a leap of faith and started to learn and build with Cairo on Starknet.
One of the most important components of the BiblioDAO strategy has been building open infrastructure that others in the space can add to, adopt or modify. This infrastructure support has often come in collaboration with other builders utilizing a shared gaming engine called, Dojo.
Growing Popularity of Onchain Games
As of this writing, there are nearly 20 fully onchain games under development, including the first fully functional Starknet game, Loot Survivor which we documented in October and the DAO’s upcoming flagship strategy game, Eternum.
There are many articles out there on the advantages of onchain gaming but we’ll restate the case again here:
First, fully on-chain games ensure that a game's world and rules are permanent and operate independently of any central authority. This means that the game’s backend will continue to operate even if the original developers cease operations or updates. This permanence also allows for a level of player ownership and control over the gaming environment that is not possible in traditional gaming models. Players can create, modify, and interact with game elements in ways that are permanently recorded on the blockchain.
Next, the open-source nature of fully onchain games enables a form of permissionless innovation where anyone can build upon, modify, or interact with the game’s core mechanics. This leads to a continuously evolving gaming landscape where new gameplay elements, economic models, and social structures can be introduced and integrated seamlessly. Additionally, the interoperability of assets across different games and platforms can allow for an interconnected gaming ecosystem, enabling creators and players to collaborate, build, and play together.
Starknet Collaboration and Airdrop Farmers
Next, the collaboration with Starknet has been pivotal for BiblioDAO. Starknet's announcement about a potential native token has sparked a surge of interest in the $LORDS token, the only novel token on Starknet. This development has led to an increase in the acquisition and utilization of $LORDS tokens by those in the crypto and web3 communities, anticipating potential airdrop farming opportunities. While some of these traders will likely exit the ecosystem after mechanics of the token are officially released, many will stay and become active participants as games and projects are released.
Liquidity Movement and Market Dynamics
Somewhat recently, BiblioDAO voted to move liquidity to Starknet which has made the $LORDS token one of the most liquid assets on the platform. This move not only demonstrates BiblioDAO’s confidence in Starknet but also boosts the token's stability and appeal in the broader market.
Community Recognition and Endorsements
Finally, BiblioDAO has earned widespread praise within the Web3 community. Influential figures and platforms, including the popular Bankless newsletter, have recognized the potential of autonomous worlds projects. This attention, along with support from figures like Ben Giove and WASD Media, and commendations from industry peers like John Patten of TreasureDAO, have contributed significantly to the heightened interest in BiblioDAO and the $LORDS token.
Conclusion
Despite the recent tripling in the trading prices of the $LORDS token and Realms NFTs, we are only at the start of this journey. The market capitalization of the token is still relatively modest when compared to similar ecosystems within this sector, indicating potential for further growth. Nevertheless, the demand for fully onchain games will likely be the critical factor influencing what happens next.
BiblioDAO's future success hinges on the market's reception of onchain gaming. As interest grows, Realms and the $LORDS token may see corresponding increases in value. However, this is not investment advice. The trajectory of fully onchain games, and thus BiblioDAO's success, remains uncertain and largely dependent on their appeal beyond a niche audience.
The Scribe’s Corner
*Some of the vision and history related to “Long-term Development” came from messages within BiblioDAO’s Discord, specifically from Core Developer Loaf.
**Disclosures: The content provided in this article is intended solely for informational and entertainment purposes. The article does not aim to provide investment, financial, or professional advice of any kind.