Product Suite Explainer — How Sky Meta’s NFT Management SDK Works
The SDK’s numerous features will help guilds and investors manage their NFTs and scholars more efficiently.
GameFi is sweeping across the globe as the next iteration of gaming, which, simply put, is the merging of gaming and finance. But more specifically, it’s the combination of video games and decentralized finance (DeFi), which is championed by the crypto/Web3 industry. Whether through quests, trading, or other mechanisms, GameFi allows gamers to earn digital assets, often in the form of NFTs, for their in-game efforts. Andrew Wilson, CEO of EA, has stated that GameFi and NFTs are the “future of our industry.”
The number of GameFi projects has boomed in 2021 and will likely continue to grow in the coming years. As of March 2022, there were more than 1,400 blockchain games listed on DappRadar.
As GameFi continues to grow, Sky Meta is working to develop an NFT Management SDK and management platform that game developers will be able to efficiently deploy to attract more guilds, while guilds can utilize it to track scholars, automate payments, and analyze playing metrics.
Sky Meta’s Experience in Guild Management
Sky Meta founded its own NFT gaming guild in May 2021 and has since built a vibrant community of over 750 scholars, each with diverse needs. With this experience, we were able to identify pain points that gaming guilds and other participants experienced, chief among which are management issues as guilds look to scale.
This led us to evolve Sky Meta into a project that supports GameFi investors and players. While we still run our guild, we are also creating tools that will make it easier to manage operations and incentives in the GameFi ecosystem. Our solutions solve problems for all stakeholders in this sector.
Guild Management Growth Pain Points
With a plethora of game projects planning to launch, we realized several common themes among game developers:
- Wanting to attract guilds and NFT investors to allow for a scholarship model.
- Needing a system for their game that would allow guilds and NFT investors alike to easily manage and delegate their NFTs.
- Not having enough time or resources to create this for their game.
Sky Meta has three core components that we’re building to achieve this goal of making GameFi accessible, and we know these components will be necessary to bring about wider GameFi adoption. GameFi tools can be used by investors in the GameFi ecosystem to:
- Manage their NFTs and scholars more efficiently.
- Better track their investments across different games and track the value of their NFTs.
- Keep track of all the games in the GameFi ecosystem and have data at their disposal to see which games are worth investing in.
Sky Meta NFT Management SDK
SDK stands for “software development kit.” An SDK, or devkit, provides a set of tools, libraries, relevant documentation, code samples, processes, or guides that allow developers to create software applications on a specific platform.
By applying our experience with operating a guild, our team is creating an SDK for game developers to integrate NFT management features into their games faster. This means their games can go live sooner so that guilds can comfortably onboard scholars and easily delegate NFTs to them.
This tool is meant for games to use to efficiently delegate NFT assets. Key features of our SDK include:
- Smart contract code that allows NFT owners to delegate their NFTs to players to use.
- The ability to dictate what percentage share of earnings the player/scholar gets when delegating the NFT.
- Code for splitting earnings between the NFT owner and player/scholar.
- Best practices for NFT management dashboards, including specifications about features and metrics that are tracked.
- Smart contract prototype code for loaning out NFTs on the marketplace.
Industry Growth = Need for Tools
As the gaming industry becomes more complex and more games are released, we believe games will shift from a play-to-earn model to a play-and-earn model. The ecosystem, both from a guild’s perspective as well as a player’s, will be about finding a balance between having fun and making money. In addition, games’ reward systems, including in-game rewards both in the form of NFTs and tokens, will inevitably become more complex. To achieve a harmonious balance and properly manage reward systems, guilds and NFT investors will need tools to sort through the data, and that’s exactly what our SDK makes possible.
We are currently working with Dragon Crypto Gaming, Heroes of NFT, and Creo Engine to deploy the Sky Meta SDK within their games to better leverage NFT management. This is just the start, as we are continually looking to expand our partnerships. In addition, we also have multiple products coming out in Q2 2022, including:
- Guild management platform open for multi-guild support (available at the end of April)
- NFT Oracle Analysis tools — Phase 1
- NFT Management SDK Beta release
- Research platform
- More game investments through SDKs
GameFi tools are meant to make users’ lives easier via automation and access to better data. We believe the automated functions within our SDK will help to develop and enhance blockchain games and the metaverse ecosystem. To keep up with our developments, join our Discord server, follow us on Twitter, and come say hi on Telegram.
About Sky Meta
Sky Meta is an NFT gaming guild and a pioneer in management solutions for game NFTs. In addition to being a guild, Sky Meta is building a suite of accessible tools on its platform to make it easy for anyone to build and scale their own guild.
