# Gensokishi - A 3DMMORPG GameFi Project Evolves from a Video Console game

**Published by:** [BitMetis](https://paragraph.com/@bitmetis/)
**Published on:** 2022-06-24
**URL:** https://paragraph.com/@bitmetis/gensokishi-a-3dmmorpg-gamefi-project-evolves-from-a-video-console-game

## Content

Author: @BitMetis | BitReport Your Source of Reliable, Unbiased Research and Due DiligenceBitMetis Review： Gameplay： Long history, Intriguing gameplay and nice graphics (still to be improved at beta test.) Tokenomics: Dual token mechanism. Reasonable tokenomics design and nice market performance at TGE. NFT：Market performance is not that satisfying. Community： Slow growth and below average engagement performance. Investor & Team： No major VC found in the investor and partner list.Introduction Gensokishi is a Japanese 3D MMORPG free to play, play to earn project that transforms from a popular video console game that has been played for 13 years with over 8 million downloads worldwide. Backed by Polygon, the team plans to become the bridge that connects the gaming world with the blockchain world and bring enterprise-level companies and designers to enter this in-game economy. Gameplay Gensokishi is a pretty typical fantasy RPG game with detailed and animated 3D characters. It allows players to explore the surroundings and start combats with teammates and friends against the enemies in real time. The battling part of the game deploys an automatic turn-based strategic gameplay. Players will have to press the buttons to engage in the combat and use button combinations for various spells and techniques to win it. Tokenomics Gensokishi adopts a dual-token mechanism. $MV is the governance token that has utility properties for configuring the metaverse. $ROND is the in-game coin that constitutes the in-game economy. $MV UtilitiesFunction to buy cosplay equipment at a discount priceThe right to power up cosplay equipmentFunction to buy various paid items at MV exclusive pricesVoting rights that allow players to decide the policy of this gameFunction to stake MV (deposit MV and be rewarded with ROND)The right to participate in preliminary closed alpha test and beta test.The right to create and offer cosplay equipment *Update support after service releaseThe right to create lands, monsters, and NPCs at a discountFees used for in-game trading$MV AllocationThe total supply of $MV is set to 2 billion. $MV started its IDO on Jan 18 at the price of $0.019 per token. IDO takes up 0.56% of the max supply. 11.2% will be unlocked at TGE with 11.1% unlocked every 3.5 months. Therefore, the amount of tokens unlocked at TGE is 1,232,100.$ROND $ROND is intended to fairly balance the in-game economy. The maximum supply of $ROND is 1,000,000,000,000 and 96% will be burnt to adjust max supply. The token will be listed on crypto exchanges right before the launch of the game. $ROND UtilitiesUsed for entrance fees for event participationUsed to strengthen and refine base equipment.Used to purchase items, base weapons, and armor in the MetaverseUsed when you want to warp between MAPs to shorten the time.Admission to museums and other venues within the Metaverse**NFT Introduction **The NFTs in Gensokishi can be roughly sorted into 3 categories, equipment NFTs, in-game item NFTs, and Land NFTs.This kind of NFTs is the most important asset of this game. It is able to modify the appearance, status, skills, and so much more of players’ in-game characters. All basic equipment has a maximum number of available quantities, and some rare equipment will be far more valuable. Created by the players of the game themselves, this is the only type of NFTs listed on Opensea. The current floor price sits at 0.004ETH (Around $4.5) and the highest last sale is 5ETH (around $5,450). The number of transactions fell flat and has been steadied at around 5 to 20 daily in May. Since the team officially announced the commencement of Alpha test on June 2, the daily transactions has risen to 99, but the trend didn’t last very long.In-game Item NFTs Items obtained in the game, such as potions that restore physical strength and items that boost stats for some time all belong to this bracket. All of these also have a mechanism in which the maximum number of items provided is set and distribution occurs even for the in-game items themselves. Land NFTs In the future, players will be able to purchase "LAND NFT '' to create their original maps and monsters using MODs and earn profits by getting an admission fee from other players who want to enter the map. Players can also design all monster drop items and monster strengths. The drop items will be assigned an NFT owned by the owner of the LAND. CommunityDuring the 7 months since Genokishi officially joined Twitter, they have managed to accumulate 96.9k followers. Although the team has been quite active on Twitter, the average engagement performance hasn’t been showing a satisfying result. The situation in their Discord and Telegram are even more not up to par with less than 20 messages in the respective communities. Again, the mods in both communities are quite operative and always answer their members’ questions in a timely manner. But there simply aren’t that many questions to be answered. Most of the time, the mods will be playing a soliloquy in the chat group. Investors and Team The game is a Japanese GameFi project operated by Gensokishi Online Taiwan Project. The team’s legal advisor had worked with Coinbase and one of the advisors was the former CEO of a very popular app for instant communication, LINE Japan. The team also has established partnerships with many companies and media. The following is their partnership list:*Statistical results in above contents are collected on 2022/6/20 for reference. Data is subjected to change, and therefore might be adjusted after the specific time period. Author: @BitMetis | BitReport Your Source of Reliable, Unbiased Research and Due DiligenceBitMetis Review： Gameplay： Long history, Intriguing gameplay and nice graphics (still to be improved at beta test.) Tokenomics: Dual token mechanism. Reasonable tokenomics design and nice market performance at TGE. NFT：Market performance is not that satisfying. Community： Slow growth and below average engagement performance. Investor & Team： No major VC found in the investor and partner list.Please Note: the above content analysis is only for Reference information, not as a basis for investment decision-making. Bitmetis and the author of the report will not be responsible for the user's investment results. BitMetis The world's first decentralized Game-Fi distribution platform. We aim to build a bridge to connect every aspect of metaverse. Real-time Data|Trending Events|Guides|Click-to-Earn Bounties Where to find us？ Twitter：https://twitter.com/BitMetis Telegram：https://t.me/bitmetis_official Discord：https://discord.com/invite/pp6CBntccT YouTube：https://www.youtube.com/channel/UCCPexBnOwLnPrEFSsbKFYeA All Links：https://linktr.ee/bitmetis

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