BAYC and its parent company Yuga Labs have been the focus of industry traffic, on March 12, when I saw Yuga Labs acquired Crypto Punks and Meebits series from Larva Labs, I tweeted about Yuga Labs' pattern, in this acquisition story, Larva Labs is more like a top IP incubation factory, but Yuga Labs is not only owning but also acquiring empowering The former is like PIXAR and the latter is DISNEY.

Yuga Labs has further demonstrated its vision as NFT's number one IP platform, including a new deck that describes its vision as "bridging the gap between culture and web3" and describes its commitment to breaking the boundaries of the "They even released a video clip of their NFT family metaverse "the Otherside".

Some other media have described Yuga Labs as the "DISNEY of the web3 era", so is it too much of a stretch to use a company that sells small images to benchmark the century-old entertainment giant DISNEY?

I don't think so at all.

My starting point is not the fully unleashed market cap of over $10 billion in APE tokens, nor the $4 billion valuation it just completed, the $450 million financing led by a16z with participation from Adidas Ventures, Animoca Brands, Samsung, Google Ventures and others, but the century-old IP incubation operation and copyright The changes and laws of commercialization.

A few years ago, I heard this sentence, I think deeply. IP companies are always thinking about the core issue is "low cost, high traffic", how to get higher traffic at a lower cost, content, channels, marketing tools are depending on this core formulation and change.

One hundred years ago, the widescreen sound film is the new media, in 1928, Disney launched the first ever audio animation "Steamboat Willie", film and television is a new content carrier in that era, the Mickey family is the first IP in this channel, but also become the heart of the global viewers of the ancestor IP.

For nearly 100 years, DISNEY has also encountered several growth bottlenecks, and has been constantly pushing out new IP and expanding new distribution channels to maintain its leadership position, including the development of entertainment production, theme parks, toys, books, games, media networks and other businesses, acquisitions of PIXAR, Marvel, 21ST CENTURY FOX, and vigorously developing streaming business during the epidemic Disney+, and even recently announced that it will enter the Metaverse.

But what I'd rather talk about is Sanrio, which was founded in 1974 and is the most popular example of all IP people. No one is unaware of its most famous IP: HelloKitty. The amazing thing is that HelloKitty does not have any film or TV production, or even any advertising campaign, but Sanrio has established the first full IP licensing and management chain. Except for special categories such as tobacco and alcohol, Sanrio licensed copyrights to almost all fields, including clothing, accessories, daily necessities, automobiles, offline stores, and so on.

In the second half of the 20th century, with the rapid development of the commodity market and international trade, I'm sure you could hardly escape buying one or two things with the HelloKitty family on them. When you drink from a HelloKitty water bottle and write with a HelloKitty pencil, you are consuming and becoming a node for the spread of this IP.

Another interesting example is Line Friends. LINE is a social application developed by NHN Japan, a Japanese subsidiary of the South Korean Internet group NHN, and as LINE's own emoji pack, the popularity of Brown Bear, Honey Bunny and Sally has become a big hit along with the popularity of this instant messaging software. The business contains games, animation, theme parks, coffee shops, etc., and the revenue in 2019 alone exceeded 1.2 billion yuan.

I would like to say that from the three examples of film and television works, daily necessities, to emoji packs, we can see that with the change of communication media, the cycle of cultivating IP is shortening, the chain of commercialization is also shortening, the mode of communication is lighter, and the efficiency of reaching is geometrically increasing. At the same time, the design style and presentation of IPs are also iterating.

This is like the evolutionary process of paper media, Internet media, and social media. The way and medium to get information and attention is changing, and there is a chance and unrepeatability of what person or thing is hot in each era, but it is really the right choice of the times.

The Unlimited Potential of BAYC and Yuga Labs

So when I saw NFT, I knew it was going to be a real, new change.

As an IP, NFT is truly "rocketing" in terms of the speed at which it spreads awareness. In August 2021, NBA star Stephen Curry bought a BAYC and replaced it with a Twitter avatar, which not only made headlines in the Crypto industry, but was also the number one trend on Twitter that day. A friend of mine (who had no idea what blockchain was) looked at my avatar and said, "Is that the same as Stephen Curry's Monkey?

Since then, Dallas Mavericks owner Mark Cuban, Top 100 DJ Steve Aoki, The Chainsmokers, Marshmello, Linkin Park's Mike Shinoda, singer Post Malone, rap star Snoop Dogg, soccer star Neymar, celebrity Paris Hilton, and Justin Bieber, Eminem, and Eminem. and Justin Bieber and Eminem (probably only one tenth of the current celebrity holders) have purchased the BAYC collection and changed their avatars.

Twitter has 200 million daily activities, Instagram has 500 million daily activities, the aforementioned celebrity V is often sitting on millions of followers, and these channels are not only not bought, but these channels are not only not bought, but also the act of KOLs spontaneously throwing thousands of dollars and participating in building communities, if NFT is not the strongest IP carrier in this era, what is?

Some people may raise the issue that these influences cannot be liquidated to the pockets of Yuga Labs, the creator of BAYC, or that the decentralized open copyright of NFT is a hidden problem, but I can only say: friend, your knowledge is too shallow and you know nothing about the world of Web 3.0.

As of January 2021, Hello Kitty's revenue in its 47 years of existence is $84.5 billion, and it is the second best-selling IP in global history (topped by Pokémon, born in 1996, generating $100 billion in revenue).

BAYC has been around for less than a year and already has a total turnover of over $1.5 billion, MAYC has a turnover of over $1 billion in 7 months, the Crypto Punk series has a total turnover of $2.7 billion, APE coin is currently priced near $12, and the token has a market cap of $12 billion. And these numbers don't even begin to cover the commercial value.

But what is more important is not the numbers, but what does BAYC bring to the holders.

Copyright system in the Web3 era

Stephen Curry purchased a BAYC for 55 ETH in August 2021 and a BAKC for 5.7 ETH, which translated to about $198,000 at the ETH price at the time.

Since then, Stephen Curry has been on the global social media hotlist and hailed as a leader by the Web3 world. On September 8, he became a global ambassador and shareholder of the mainstream crypto trading platform FTX; on December 22, he and FTX.US released Stephen Curry's "2974" series of NFTs, with issue sales of $1.46 million, all of which went to charity; and on December 24, he and FTX.US released Stephen Curry's "2974" series of NFTs, with issue sales of $1.46 million. On Dec. 24, he released five "Genesis Curry Flow" sneaker series NFTs on the Polygon network, with total sales of more than $3 million that day.

In the six months Stephen Curry has held the monkey, he has not only earned nearly 3 times the return on his investment, but also leaped from a sports star to a KOL in a new field, the meta-universe era is still far away, but we already feel how to achieve real-world fame and fortune through virtual digital IP, is there anything more "futuristic" than this?

What is even more remarkable is the "decentralized copyright" that overturns the traditional licensing model.

YugaLabs initially drew up a very clear statement of terms, affirming that you "own the NFT" and "own the underlying work BoredApe" and can commercialize the NFT you own.

This is one of the most hotly debated points after Yuga Labs Crypto's acquisition of Punks and Meebits, as they plan to grant commercial rights to all CryptoPunks and Meebits series to their respective owners, knowing that Larva Labs was previously criticized for not being Web3 enough and not opening up the rights.

This is one of the most talked about aspects of Yuga Labs Crypto's acquisition of Punks and Meebits, as they plan to grant all commercial rights to the CryptoPunks and Meebits series to their respective owners, knowing that Larva Labs has been criticized for not being Web3 enough and not being openly copyrighted.

So what are the consequences of allowing NFT owners to commercialize such powerful IP? let me give you a few random examples:

1, last December, Adidas co-branded Bored Ape Yacht Club released adidas Originals Into The Metaverse NFT, with sales of 5,924 ETH (about $23 million) and nearly $100 million in volume to date.

2, Universal Music Group purchased Bored Ape Yacht Club #5537 this month to form the Kingship virtual band with its previously purchased NFT, with three members of Kingship from Bored Ape Yacht Club and one from Mutant Ape Yacht Club.

3, Tomorrowland, the world's premier electro music festival, has announced that NFT artist Ape Rave Club will headline this year's festival by premiering on the main stage on July 24. Ape Rave Club is a digital artist from the Bored Ape Yacht Club NFT series, the plan is to release original encrypted native music through the NFT platform.

When I interviewed POPMART's founding team a few years ago, someone once asked them if they would make content based on Molly, and they immediately answered no, and told me that Molly could be anyone, any profession, any personality, and that they would not make content that was laborious and limited her as a platform IP. as time continued to evolve, I immediately thought it made perfect sense at the time.

And I see a new ceiling in the universe of NFT, where the world's top clothing brands, entertainment giants, and big celebrities are sparing no effort to use their decades of accumulated resources to spread the word for BAYC, giving it top-notch content and matching the best channels from their own perspectives.

This is the power of openness, the copyright system of the Web3 world in my eyes - the holding community determines the height of IP, where the community can be people, enterprises or Dao organizations.

Consumer goods, artwork, luxury goods

Finally, I'd like to talk about some subjective experience.

NFT was born in a very interesting time. Besides the grand narrative of disrupting the business world of IP and copyright, when someone asks me what it is, I will say: it is an artwork and not only an artwork, it is a consumer product and not only a consumer product, it is a luxury product and not only a luxury product (here I am referring to Avatar-like NFT in a narrow sense).

In fact, the concept of the definition of the above concept itself is blurring the boundary.

The analogy between Andy Worhal and Pop Art that many practitioners use to explain why a crude little image of NFT that doesn't look like it has much artistic skill is worth a lot of money is indeed apt.

Pop Art is art that draws its style and subject matter from popular culture: television, Coca-Cola, comics, cans, dollars, printed wallpaper, and initially, many traditionalists were uncomfortable with such art because they rejected commercial culture and the commercialization of art as a threat to the survival of modernism and "high culture". They thought it would threaten the survival of modernism and "high culture. The trend of rebellion, dismantling authority, and confronting the commercial society was irreversible and real.

The NFT is the more extreme widespread, marketable, and commercialization of modern art, which you can dislike and despise, but you cannot stop it from happening.

A more interesting example is the trend that has been going on for several years, the streetization and trending of luxury goods. Luxury designs going down the drain, slogans being printed on clothes, oversize without logic, subcultures losing their origin, co-branding with street trendy brands, using social media netizens as brand ambassadors ......

Behind such phenomenon is the increase in the number of middle class worldwide - luxury is no longer the so-called symbol of wealth and blue-blooded status, but more of a choice for life attitude and expressing individuality, and more and more people have enough purchasing power. If luxury goods want to continue to take the leading position in the fashion market, they must follow the development of the times and open up a more popular and younger market.

When some "new rich people" ask me why I buy NFT, I more often say that it is Web3's RICHARD MILLE than I tell them that BAYC is Web3's Mickey.

When someone says that luxury must be a century-old classic brand that lasts forever, RICHARD MILLE is the best example of this. It is a super late wave that has emerged in the world of watchmaking, having launched its first model in 2001, and likes to challenge the application of new technologies and materials in watches. The basic model costs more than a million dollars or even millions of dollars, but still the rich people are attracted to it, especially the celebrities and netizens.

Isn't this example highly similar to BAYC? It can be said that in today's luxury goods, "community attribute" (who is carrying the goods) has gradually replaced "pedigree attribute", and when you wear Richard Mille, you still have to "inadvertently" roll up your sleeves to show people. We are not like Federer who can always wave his arms in the spotlight of the court, it is much easier and more fluid to change the BAYC avatar.

So, back to why brands are sending NFTs and everyone is buying them: the giants are afraid of falling behind and being defeated by the new; the new rich who are profiting from Web3 need to show their social identity; and the old rich of Web1 and Web2 need a portal to talk to the new generation.

Of course, the minimum price of BAYC is now unattainable for the majority of people, after all, there are only 10,000 BAYCs. But there are still more new and interesting series being created, and the holders themselves determine the ceiling of this IP, a new story is just beginning, and more narrators are needed.

Welcome to join #NowhereDAO, a free information and token information sharing platform:

https://discord.gg/JHXpb8KDzk

Some people may confuse "merger" with "expansion," but these are actually two phases of Ethereum's upgrade. The core problem solved by "merger" is to switch the consensus mechanism from POW to POS to reduce energy consumption, which does not lead to scaling in itself; while scaling is the key to solve Ethereum's scalability problem and improve throughput.

Ethereum's lack of scalability has always been the biggest constraint to its development, and has given other public chains ample window to compete. If Ethereum scales successfully, it will unlock huge potential, and the evolution of this global infrastructure will certainly affect the public chain landscape and even breed new application tracks.

What are the core problems to be solved by Ethereum scaling, what are the current mainstream solutions, and how to understand the upcoming "merger" and multiple Layer2 projects?

Ⅰ. The logic and impact of "merger

1.1 Consensus mechanism change: from POW to POS

The Ethereum mainnet currently adopts the Proof of Work (POW) consensus mechanism, in which miners must first violently solve for a specific value and prove that they have paid the price by consuming arithmetic power before they are eligible to produce new blocks. The two most important parts of the Ethereum roadmap are the switch from POW to POS, which avoids excessive energy consumption, and the expansion path described above, with changes to the consensus mechanism taking precedence.

In December 2020, the "Beacon Chain", which is the future main network, will be online and run independently from the main network. The beacon chain is stable in terms of block issuance, and the verifier can also pledge Mining and receive block revenue from the beacon chain, but it has not yet assumed the actual function. "The beacon chain will also be an important part of the "expansion" route, which will be introduced in detail below.

The goal of "merger" is to place the "consensus" logic of the Ethereum mainnet on the beacon chain, while the "execution" logic still runs on the original mainnet. To understand what this change means for Ethereum's operation, we need to understand Ethereum's blocking process first.

A full block-out cycle in Ethereum, consisting of the following steps.

(1) "Execution": the miner picks some of the new transaction requests and executes the transactions, verifies that they are all valid, updates the local EVM copy, and generates potential blocks.

(2) "Proof of Workload": after the miner completes the local execution and verification, it will start the proof of workload to qualify for the block.

(3) "Consensus": eventually, one miner who has qualified for the block will broadcast the executed transactions to the whole network nodes, and other nodes will revalidate and execute locally to confirm the block validity.

(4) "Multi-party storage": After finishing consensus, all nodes will update the EVM copy status to save the latest transaction history.

After merger, the above mentioned "execution" and "multiparty storage" remain unchanged and still run on the original Ethereum mainnet, while miner is replaced by an ETH pledge on the beacon chain, pledging at least 32 ETH to participate in block out and validation. After the block is produced and broadcast, the beacon chain will assign a group of verifiers to verify the block and complete consensus.

In contrast to the original process, miner is replaced by a pledge, and the trust cost of miner is changed from consuming arithmetic power to pledging assets. The "proof of work" is eliminated, thus reducing the energy consumption by ~99%.

Since the cost of issuing blocks has dropped significantly, many people mistakenly believe that this will lead to a drop in ETH processing fees and even a performance increase, but this is actually a misconception. Next, we'll cover the impact of merger.

1.2 One of the effects of merger: TPS and fees remain the same

Contrary to many people's intuition, the TPS and fees remain the same after merger, even though the cost of block issuance is reduced, because the core reason is that the block size and speed of block issuance are basically unchanged. This can be better understood by understanding the logic of TPS and the pricing mechanism of fees.

TPS is the number of transactions per second, which is equal to the number of transactions each block can hold ➗ the time to exit the block. After the implementation of EIP-1559 last August, the baseline space for a single block is 15 million gas (gas is the unit of measurement consumed by operations on Ethereum), and when demand increases, the space for a single block can be capped at 30 million gas.

Since the "execution" part of the merger has not changed, the space size of individual blocks remains unchanged, following the original 15 million base and 30 million cap. As for the block speed, the current Ethereum mainnet basically maintains one block per 13 seconds, which will be changed to one block per 12 seconds after merger. In other words, the TPS may increase by ~1 second at most due to the increase in block speed, bringing a <10% increase.

The reason for Ethereum's block size and exit speed limitations is to ensure that nodes can be fully verified and instantly synchronized to achieve sufficient security and decentralization.

Understanding the TPS, the logic of the fee is also obvious, Ethereum's fee pricing mechanism has changed significantly after the implementation of EIP-1559 last year, divided into two parts: Base Fee and Tips. The base fee is determined entirely on the basis of supply and demand, with demand being the transaction requests submitted by users and supply being the compute space Ethereum can provide. If the number of requests received for a block is greater than the number of requests actually processed by the previous block, the base fee for the next block is increased by up to 12.5%. Tipping is a reward for miners, and is essentially a bidding mechanism to attract miners, again determined by demand.

Since TPS is not essentially changed and the computational space is still limited, merger does not change the supply and demand relationship and cannot affect the fee.

1.3 Merger impact #2: ETH will be micro-deflationary

Currently, ETH has both issuance and burning mechanisms, and is micro-inflationary overall; after merger, the overall deflation will be 1%~2% due to the reduced issuance rate.

At present, ETH has an incremental mechanism: each block generates 2 ETH miner rewards, and the annual incremental rate is estimated to be about 4.3% based on the current block rate and total circulation. The burning mechanism is that the "base fee" described in subsection 1.2 will be burned, which is about 2.9 million ETH per year, and the overall inflation rate is estimated to be ~2%.

After the merger, the biggest change is that the block reward will be significantly reduced to ~90% of its original value, and assuming a constant annual burn, the overall deflation will be ~2%.

Ⅱ. Ethereum's Scalability Dilemma

Ethereum, the most mainstream smart contract platform, is known for its security and decentralization features, however, it still lags behind in terms of scalability: Ethereum's current TPS (number of transactions per second) is between 10 and 15, with insufficient supply and high demand, resulting in high fees determined by bidding, costing several dollars to tens of dollars per transaction.

For comparison, BNB's TPS is between 40 and 50, and Solana is at 1,000+, the same level as Visa.

Decentralization, Security, and Scalability can only be one or the other, which is also known as the Blockchain Impossible Triangle. Ethereum's initial choice was to forgo scalability to make it consistent with Web3's most important values.

If scalability is achieved in a simple and brutal way, then security or decentralization will be sacrificed. The first method is to expand the block capacity, but this will lead to the same expansion of the verifier's workload, and eventually the verifiers who can bear the workload will be concentrated in the data center and controlled by the giant, losing the decentralization feature, which is why Ethereum's current block capacity and block speed are limited, and this is the only way to allow ordinary people to participate in verification; the second method is to have more torrents (public chains), but this will lead to a proportional decrease in security due to the decentralization of verification. The second method is to have more cottage coins (public chains), but this will lead to a proportional decrease in security due to decentralized verification.

Nevertheless, Ethereum has been actively looking for scalability solutions and has identified a scale-up path centered on Rollups + Sharding as early as 2020.

Ⅲ. Ethereum Scaling Route-Rollups+Sharding

According to the current classification on Ethereum's official website, "Scaling" is divided into on-chain and off-chain scaling, where on-chain scaling is "sharding", which is a change to Ethereum's main network; off-chain scaling is Layer2 and other types of solutions independent of Ethereum's main network.

As on-chain expansion of Sharding is a change to the Ethereum mainnet, it will migrate all historical data, so the process is slow, officially, Sharding is expected to be implemented in 2023, while multiple options for off-chain scaling are already in place, with Rollups being the main route chosen by the Ethereum community and the short-term focus of the scaling roadmap. The following section will introduce off-chain and on-chain scaling respectively.

3.1 Off-chain Scaling: The Triumph of Layer2 and Rollups

The official Ethereum website defines Layer2 in a relatively narrow sense, referring to Rollups and State Channels as Layer2, which are the two solutions that accomplish consensus through the main network.

The following types of schemes are briefly described.

(1) Rollups: The execution of transactions is done outside the Ethereum mainnet (i.e., off-chain), and then multiple transactions are packaged and posted to the mainnet, where consensus is completed. By placing the computation execution off-chain and packing and compressing part of the data to return to the chain, the use of mainnet space is reduced.

It should be noted that the information packaged and published by Rollups must contain: (a) State Root, which represents the balance of all accounts after the transaction is completed, i.e., the result state of the transaction: (b) transaction information, i.e., the transaction instruction of how much A transfers to B. With these two parts of information, the main network nodes can do full verification of the transaction history on Rollups, so the security of Rollups can be guaranteed by the main network. This is a key point and the reason why Rollups is different from Plasma/Validium and is recognized for its security.

Within Rollups, there are two categories, one is Optimistic Rollups, which uses Fraud Proof, i.e., a challenge mechanism that allows validators to challenge faulty transactions, and challenged transactions need to be re-executed on the L1 mainnet, called "Optimistic Rollups" since all transactions are assumed to be legitimate under normal circumstances; the other category is ZK Rollups, which uses Validity Proof, where all transactions submitted to the L1 mainnet are required to pass a zero-knowledge proof.

Optimistic Rollups are the earliest rollups with mature cryptographic solutions that are compatible with EVM, typically Arbitrum and Optimism, but ZK Rollups require more concise data to be packaged and uploaded to L1, making the execution of transactions faster and more efficient. High migration costs for developers

(2) State Channels: Participants can complete multiple transactions under the chain through multi-signature contracts, accumulate the amount, and record the final one on the main network. However, the application scenario of this type of solution is very limited, only network participants can use it, and it requires pledging a very large amount of money in complex transactions.

(3) Sidechains: EVM-compatible chains independent of the main network, which can be bridged to the main network through a two-way bridge, but their consensus logic and block parameters are unrelated to the main network. Since it is completely independent, the security cannot be guaranteed by the main network, typical projects such as Polygon.

(4) Plasma: Similar to Optimistic Rollups with lower security level, Plasma itself is a blockchain with an infinite number of subchains, each of which is similar to a branch of a tree that performs some of the transactions, and the status of all the transactions will eventually be aggregated into a hash value and published to L1. However, this hash value cannot recover all the transaction history because the transaction information in the process is stored in each sub-chain, i.e., each branch of the tree, and the verification node cannot be sure that all the blocks in the sub-chain have sufficient proof of data validity. Once the information of any block cannot be confirmed to be valid, the transaction history of the whole chain will be in crisis, which is also known as The Data Availability Problem.

Two similarities between Plasma and Optimistic Rollups are that they both place the computation off-chain and both take proof-of-fraud. The key difference is that Rollups compressed uploads still contain a full transaction history, while Plasma does not.

(5) Validium: Similar to ZK Rollups with lower security level, it also takes zero-knowledge proof, but the data is not stored on L1, typical projects such as Immutable X and DeversiFi which adopt StarkWare technology.

Overall, Rollups are the most secure and widely used off-chain scaling solution (unlike State Channels, which are only available to network participants). Therefore, Rollups is considered to be the most important scaling path until sharding is implemented.

The figure below shows some of the mainstream Layer2 projects, and as you can see, Rollups is in fact the most widely adopted technology, with the mature Optimistic Rollups being more widely used and available for any smart contract, while ZK Rollups is often limited due to limitations in EVM compatibility.

It is worth noting that Metis, ranked #5 in TVL, was rejected as an "Optimistic Chain" instead of an "Optimistic Rollup" because it does not keep all transaction data on the chain, but rather through MEMO, a decentralized storage project under the chain, which achieves ultra-low fees at the expense of data availability.

The Metis trade-off also reflects a problem for Rollups: since it still needs to publish transaction data on L1, its scalability is limited by the storage space of the Ethernet mainnet. all Rollups can do is to compress and upload as little data as possible to L1 to improve throughput.

In this respect, ZK Rollups has an advantage over Optimisitc Rollups. Since ZK Rollups solves the validation problem through zero-knowledge proofs, all transaction data posted to L1 is already validated, so if some of the transaction information is only used for validation and not for computing the latest result, this information can be placed under the chain in ZK Rollups, but must be placed on the chain in Optimistic Rollups for ZK Rollups are more space efficient on-chain than Optimistic Rollups.

The figure below shows the comparison of fees for multiple L2s (assuming Metis is still classified as an L2), and it can be seen that, except for the privacy-oriented Aztec and the controversial Metis, which are relatively special, the ZK-based Loopring/ZKSync/Polygon Hermez fees are lower than the OP-based Optimism/Boda/ Arbitrum.

So, to what extent can Rollups actually increase TPS? Simply put, assuming that Rollups takes up all the space on the main network, the theoretical upper limit is about 100 times that of the main network. Using ZK as the upper limit, a transaction to send ETH takes about ~12 bytes, while on the mainnet it takes ~110 bytes, while ZK requires very little proof space, and the extra space required to verify the packaged data of a single ZK is less than 5% of the Ethereum block space, so roughly speaking the TPS is 100 times that of the mainnet. Currently, the main network has a daily TPS of about 15 and a theoretical maximum TPS of about 100, so the theoretical maximum TPS of ZK Rollups is about 10,000.

Of course, 10,000 TPS is a very desirable number that is almost impossible to reach: first, it is difficult to achieve with only a single packaged transaction in a single Ether block, and the space required for validation increases with multiple transactions; second, it is unlikely that the main network will be able to sustain the theoretical cap, because after the implementation of EIP-1559, if the demand for block space continues to climb, then the fees will continue to escalate until users cannot afford The

From Optimism's recent transfer data, the simplest ETH transfers can boost TPS by about 5-6x. Here is a simple ETH transfer transaction that consumes 21,000 gas on the Ethereum mainnet, but only ~3,800 gas on the mainnet via OP.

In summary, Rollups can theoretically increase the mainnet TPS by 100x, but some pragmatic estimates suggest that Optimistic Rollups can increase it by about a few times, and ZK Rollups should increase it by tens of times. Is there a way to expand the storage space of the Ethernet mainnet and further increase the TPS while maintaining security and decentralization? That's what sharding is all about.

3.2 On-chain Scaling: The Principle and Meaning of Sharding

To continue to break through the TPS, we need to expand the storage space of the mainnet, and Sharding is the technical solution to achieve this purpose.

In the Sharding scheme, the main network is called the Beacon Chain, and there are 64 shards on top of the main network to generate blocks and store information. In each block cycle (Slot, set to 12 seconds), a Proposer is randomly generated in each shard to produce a shard blob and broadcast it to the main network.

Sharding is somewhat similar to Rollups in that it stores data and frees up space through a data layer outside the main network, but Sharding uses two techniques that differentiate it from Rollups and also achieve the goal that a single node does not need to download the full amount of data to verify transaction history.

The first technique is the random selection of the validation committee. For each slice block, the full number of verifiers is randomly disrupted to form a one-time verification committee to verify that one slice block. This randomness ensures that it is difficult for the culprit to put all its bought and paid-for validators into the same committee for validation, unless the culprit controls more than 1/3 of the validators.

The second technique is random extraction of data availability, where each client does not need to download the full amount of data when verifying the chunks, but only a random portion of the chunks to verify at least 50% of the data validity.

With the above steps, sharding enables the verification of a random sample of nodes and a random sample of data, instead of requiring nodes to verify the full amount of data in the main network as it does now, thus enabling the main network to scale up.

So, how much expansion can Sharding contribute? According to the current design, there are 64 shards, and each shard will produce ~250 KB of data blocks every 12 seconds, which means it can carry 16 MB of data every 12 seconds, and ~1.3 MB of data per second. Comparing with the current state of ETH main network, the target carrying space of each block is 15 million gas, a simple ETH transfer requires ~110 bytes and consumes 21,000 gas, based on an average of 13 seconds for a block, it can be estimated that the current main network can carry ~77 KB of data per second. Therefore, sharding can bring about ~17x (1.3 MB/77 KB) performance improvement.

There is no clear time expectation for sharding. The official plan is 2023, but given that merger is not yet on track, I'm afraid that 2023 is too optimistic. The current scaling relies on L2 for implementation.

3.3 L2 Frontier Project at a Glance

Arbitrum, Optimism, ZKSync, and StarkNet are the four most mainstream L2 projects at present. Combing the project base information, we can find that

(1) OP is more mature, Arb occupies the top of TVL, and ZKSync and StarkNet are far apart from ZK, which is technically difficult and not naturally compatible with EVM, so the ecological development is slow.

(2) Both OP and ZK have strong capital forces behind them. In September last year, Arbitrum's valuation reached $1.2 billion, and in May this year, StarkNet's parent company wowed Web3 with an $8 billion valuation. head Crypto investment institutions such as a16 z/Paradigm are betting on both OP and ZK-series projects. optimism has just launched a coin, and although the initial performance is poor, FDV still has $5 billion. FDV still has $5 billion; other than that, all three have yet to issue a coin, which is a potential Airdrop to look forward to in the next wave.

IV. Summary

Ethereum's "consensus logic change" and "scaling" are the two main themes of Ethereum upgrade, and this paper also introduces the consensus logic change and its impact, various scaling solutions and their degree of implementation from these two parts.

The purpose of Ethereum merger (The Merge) is to change the consensus logic from POW to POS, thus greatly reducing energy consumption; however, since the execution logic is not changed and the computational storage space of Ethereum is not changed, there is basically no impact on TPS and fees, while the ETH growth rate will drop significantly after the merger, resulting in micro-deflation. After merger, the ETH growth rate will drop significantly, causing micro-deflation.

In parallel, Ethereum's Scaling process aims to improve Ethereum's processing performance/TPS, and only after the supply capacity is increased, the fees, which depend on supply and demand pricing, can be reduced. Scaling is divided into two categories: on-chain and off-chain. On-chain is a change in the operating logic of Ethereum's main network, using a sharding scheme to divide and rule 64 sub-block chains on the main network, but it is still far from the expectation of implementation; before this scheme is realized, the Ethereum community has adopted the Rollups scheme in off-chain scaling as the short- to medium-term path, and Four major mainstream L2 projects have emerged from this track, with individual project valuations in the billions of dollars today.

The interesting question is how Rollups and Sharding will be combined in the future, and V-God's ideal hypothesis is that the utility of the two will be iterative: ZK Rollups can theoretically increase TPS by ~100x, and Sharding by ~20x, assuming a TPS of 50 for ETH (currently ~15) and a future TPS of ~100,000 for Ethereum. However, this assumption is so ideal that it is almost impossible to achieve.

A pragmatic estimate is that current OP Rollups can increase TPS by ~5x, and ZK Rollups should be able to increase it by tens of times. If ZK becomes EVM friendly and its potential is fully realized, OP's ecosystem will suffer. It is not clear whether sharding will still be necessary, as it is possible to achieve ~1,000 TPS with ZK alone.

Ethereum's merger has been delayed, but the end of the POW mechanism should be achieved by the end of 2022. Ethereum has a long road to upgrade, but it will definitely affect the public chain landscape in the end.

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Despite the decline in users and volume, some GameFi projects continued to perform well. For example, STEPN was the hottest DApp on the crypto market that month, Splinterlands ranked #1 in daily active users with a daily average of over 350,000, and DeFi Kingdoms surpassed Axie Infinity as the most traded GameFi project.

GameFi Market Overview

GameFi project count 5.2% YoY, growth concentrated in BSC and Polygon

According to Footprint Analytics, as of April 30, 38 public chains have participated in the GameFi space, with 1,479 game projects, a 5.2% increase from the previous year.

Ethereum's project count in the GameFi ecosystem is not growing as fast as on the BSC and Polygon chains. The projects on BSC and Polygon have become some of the more popular games in the crypto market today. They include Bomb Crypto and Mobox on BSC; Crazy Defense Heroes and Pegaxy on Polygon.

Developers prefer BSC and Polygon games because of their low gas fees, high throughput, and high security on par with Ethereum. The number of projects on Ethereum is gradually divided by public chains such as BSC, Polygon and WAX, attracting a large number of game users and projects.

Active users down 24.9% YoY, GameFi's transaction volume down

As of April 30, the total number of active users was 9.22 million, of which 780,000 were new users. Compared to March, the number of active users decreased by 24.9%.

Since October, the number of new and active users has declined, despite the increase in the number of games.

But not all public chain games are unpopular; for example, the Polygon game ecosystem saw a 25% increase in new users, led by Crazy Defense Heroes and Pegaxy.

According to Footprint Analytics, trading volumes spiked from October to November, even exceeding $510 million in daily trading volume. However, since January, GameFi trading volume has been in a slump due to the macroeconomic impact. Per capita trading volume has gradually dropped from $105 to $20.

In addition, the Axie Infinity hack in mid-February significantly impacted active users and trading volume, which resulted in the loss of over $615 million in ETH and USDC to users.

Nearly $2.4 billion raised in GameFi, up 381% YoY

The data shows that the overall blockchain space saw the largest amount of funding in April, with investments totaling $6.62 billion. the GameFi space accounted for 36.3% of the total investments, with $2.4 billion invested. Compared to March, GameFi grew by 381%.

Web3 has seen the largest investment in the investment space, with STEPN, a Web3 project that combines elements of GameFi and SocialFi, being the most notable project.

April GameFi data underperformed, but still had great projects

While the macro trend was negative, several projects performed well in April. Splinterlands continued to rank #1 in daily active users for over three months, averaging over 350,000 daily. deFi Kingdoms surpassed Axie Infinity as the most traded GameFi project. And STEPN became the hottest DApp on the crypto market with Move to Earn.

Splinterlands holds the number one spot with 350,000 daily users

Splinterlands, an NFT card game, has become the most popular program in the GameFi space. According to Footprint Analytics, the number of users and transactions is gradually increasing and stabilizing.

Splinterlands has proven to be popular for its simple gameplay and low barrier to entry. And like Axie Infinity and other games, it uses a dual-currency model to stabilize the liquidity of in-game funds and minimize the impact of token price fluctuations in the secondary market on the game.

DeFi Kingdoms surpasses Axie Infinity as the most traded project

As of March 29, DFK has overtaken Axie Infinity as the most traded program. News of the attack on Axie Infinity, which was considered safe, shook users' confidence and trading volumes fell off. As a result, April will be a tough month for Axie Infinity, which will hopefully be able to restore user confidence in the game by recovering $5.8 million in funding and launching Axie Infinity Origin's new arena game mode on April 7.

Although DeFi Kingdoms has no VC funding, they maintain a monthly user retention rate and a solid daily user base through their own Tokenomics and the team's planning and advancement of the program.

STEPN becomes the most popular DApp

STEPN is the first successful Move-to-Earn game and has the real potential to become the long-awaited game that will bring GameFi into the mainstream.

Players buy NFT sneakers and earn through in-game tokens. It further gamifies sports by creating a system of sneaker upgrades, such as walking, jogging or running.

STEPN has been online for less than 6 months and as of April 30, its market cap has surpassed $2 billion. Now that Axie Infinity has fallen short of new users, STEPN may even surpass Axie Infinity's $2.2 billion market cap.

Footprint Analytics data shows that the price of token GMT rose from $0.16 to $3.52, an increase of 2100% in a short period of time.

There is no doubt that STEPN is currently one of the hot trends in the market.

Summary

While GameFi was closely tied to macro trends, with overall transaction and user numbers declining overall, there was no stopping individual game projects from making a splash in April. STEPN grew rapidly, with DFK overtaking Axie Infinity as the most traded project and Splinterlands stabilizing its daily active user base.

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One of the most famous enforcement incidents took place in 2017. On June 27 of that year, the European Commission announced that Internet giant Google had been fined 2.42 billion euros for violations of EU competition regulations. A statement issued by the European Commission that day noted that Google entered the shopping comparison market and used its dominant position in the online search space to manipulate search results and unfairly direct customers to its own shopping services.

This event happened to step in the middle of the introduction and implementation of the GDPR (General Data Protection Regulation). The regulation, introduced on April 14, 2016 and officially put into effect on May 25, 2018, is open to all companies that collect, process, store, and manage personal data of EU citizens, limiting the authority of these companies to collect and process users' personal information and aiming to return the ultimate control of personal information to the users themselves.

But has the Internet giant turned out to be a good boy after GDPR was officially put into effect? In March of the following year alone, the EU antitrust authorities issued another hefty €1.49 billion fine to Google for abusing its dominant market position by imposing numerous restrictive clauses in contracts with third-party websites to prevent Google's competitors from publishing search ads on those sites.

Thus, in the era of Web 2.0 and the centralized logic of products, the potential threat posed by individuals and centralized entities has made governments sit up and take notice, despite the apparent lack of conflict between the latter. As the first attempt of "globalization", the colonial expansion in the age of navigation, the technology and ideas imported from the "center of European civilization" transformed the once barren old world, but at the cost of colonizing and semi-colonizing most of the world. In this process, we know Columbus, Magellan and Da Gama as adventurous "entrepreneurs", while the government only played the role of sponsor.

In the 1990s, during the second wave of globalization after the collapse of the Soviet Union, it was these international companies that acted as pioneers. It is only near the end of the first two decades of the 21st century that we hear the voice of "counter-globalization" after a long time. On the one hand, there is populism and non-ideological confrontation between countries; on the other hand, within countries and regions, there are restrictions imposed by governments and regulators on the former pioneers of globalization, both in terms of fine-grained management and in terms of the potential threat that centralized entities such as Google pose to people and governments.

There are many examples of this, including Vice News' interpretation of Facebook's name change to Meta a few days ago, arguing that a company that is still unable to control itself in the Web 2.0 era will only increase its evil in the Web 3.0 era. Therefore, we also see the demand for decentralized storage, computing, etc. In particular, some time ago, the chain of news offline really makes people think about the reality of "decentralization" what is the meaning. But for the ordinary user's daily life, through the search engine to obtain information is more high-frequency just need.

Presearch a small step, Web3.0 a big step

Presearch is an open, decentralized search engine that rewards community members $PRE for using, contributing and promoting the platform. Google controls 77% of the search market, influences trillions of dollars in spending, shapes opinions, and effectively plays the role of the Internet's primary portal. At a time when the concept of Web 3.0 is hot, an open, community-driven search engine is essential.

The project, Presearch, has been conceptualized and operated since the last cryptocurrency bull market (2017). After the cryptocurrency market experienced a severe downturn in 2018, almost every project suffered financial setbacks and many failed completely. presearch weathered the storm.

Presearch protects user privacy and offers cryptocurrency rewards through the Presearch.org website, browser extensions, and mobile apps (both iOS and Android versions are now live). presearch's ecosystem is centered around PRE passes, which are used to reward community members who use, contribute to, and promote the Presearch platform. PRE passes are also used to drive the keyword pledge advertising system. Users who pledge the most PRE passes under certain conditions will have their ads displayed on the platform. More than 52 million $PRE assets have been pledged so far.

Presearch's goal is to challenge Google and allow people to search for information on the Internet in a more democratic way. To solve Google's problems, alternative search engines like DuckDuckGo have emerged in the market to provide users with more privacy protection, but they still operate on a centralized basis.

A decentralized search engine is a blockchain-based solution that is designed to solve the problem of centralized search engines. Instead of collecting people's data without their permission (or forcing them to agree to use the solution), decentralized search engines protect the privacy of their users. By using blockchain technology, decentralized search engines can provide a transparent, censorship-resistant experience for users, and anyone can use the solution without any restrictions.

Another great feature of the decentralized search solution is the lack of middlemen, which means advertisers can get more value. presearch allows advertisers to pledge $PRE passes to display their ads in search results without paying extra for certain keywords. Whether a business can win the ad auction depends on the amount of $PRE it pledges.

As part of an open source, community-driven project, Presearch also offers a transparent service where users can contribute additional data layers through a community pack to get more accurate results. Presearch, a decentralized search engine solution, rewards users for using the search engine to find information on the web.

Route Map

November 11, 2021 - Presearch, the decentralized search engine, has integrated with OpenSea to build NFT search into its platform. Presearch founder Colin Pape says Presearch wants to be "the Google of the Web3 decentralization era. "Presearch's integration with OpenSea, the world's largest NFT marketplace, is designed to simplify the way users search for NFT. presearch claims to be the first search engine to offer this feature. Users will search for the names of NFT projects and get top-ranked results from OpenSea. The blockchain-based Presearch has 2.7 million registered users who receive PRE tokens each time they perform a search. Advertisers can also pledge PRE for specific search terms, and when a user searches for that term, the advertiser with the most pledged tokens will appear.

Starting September 1, 2021, the decentralized search engine Presearch will be the default search engine for new Android devices sold in Europe, a move that could undermine Google's dominance of the search engine market. presearch is backed by a community of node operators who process user search requests and are rewarded through ethereum-based PRE tokens.

2021 On May 12, Presearch released its mainnet roadmap to launch the Presearch mainnet later in 2021 (which has been delayed to Q1 2022). The specific sequence of the roadmap is: mobile browser, Web3 withdrawals, replacement of rewards verification system, search rewards 2.0, token bridge, performance-based smart node routing, start of testing production traffic on user nodes, automatic search engine scaling, gateway for geographic distribution, launch of Presearch.com domain, integration of engine into Presearch.com and UI simplification, the migration of user nodes to the main network, and official launch of the main network.

Architecture Design

Technology Innovation

Development Progress

Regulatory Mechanism

Additional Project Information

Official Website:

https://presearch.org/about

GIthub:

https://github.com/PresearchOfficial

White Paper:

https://www.presearch.io/uploads/WhitePaper.pdf

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That's because this week Ether founder Vitalik Buterin released the paper "Decentralized Society: In Search of the Soul of Web3" in conjunction with economist Glen Weyl and Flashbots researcher Puja Ohlhaver.

Notably, this paper centers on the new humanistic possibilities around non-transferable "soul-binding" NFT, a topic Vitalik Buterin has been exploring this year.

After reading this new paper, I was reminded of how I felt when I first discovered Ether, i.e. hopeful for a better future and confident that we have the ideas and the means to really start making it happen.

However, maybe you don't have much time to skim through this 30+ page paper, or maybe you're a little confused about some of the concepts. No worries! Below we will explain, summarize, and quote some of the key ideas from the authors of the paper so that you can quickly understand the basics of the Decentralized Society (DeSoc).

Introduction to Decentralized Society (DeSoc)

Main idea:

1. Currently, web3 revolves around financialization and transferable assets.

2. However, many mainstream economic behaviors (e.g., "unsecured lending and personal branding") rely on non-transferable social relationships that are built on trust and persist over time.

3. The authors propose non-transferable soul-bound tokens (SBTs) held by "souls" (i.e., accounts) as a way to better encode social networks in web3.

4. The SBT would encode these relationships by tracking the "commitments, credentials, and connections" of the souls on the chain.

5. The Decentralized Society (DeSoc) will rely on SBT to allow "souls and communities to come together from the bottom up, as emergent properties of each other, to co-create multiple network products and intelligences within a range."

7. If continued, DeSoc could also pave the way for new property rights and governance mechanisms that "reward trust and cooperation while protecting networks from capture, extraction, and domination."

8. In short, DeSoc points web3's current hyper-financialized state to a "more transformative, diversified future of increasing returns based on social distance"

Soul and Soul Bound Tokens (SBT)

1. "soul" is synonymous with accounts, wallets, etc.

2. A "soul" can hold an SBT, which is non-transferable, potentially revocable, and initially public, while later privacy SBT use cases will become more feasible.

3. SBTs can track "affiliations, memberships, and certificates" such as "educational certificates, work experience, or [...] hash of a book or artwork".

4. SBTs can be issued by the "souls" themselves, but importantly, they can also be attested by other "souls" "as counterparties to these relationships".

Possible Decentralized Society (DeSoc) Use Case Artists

Artists can use their "souls" to publish NFTs, by doing so they can stake their reputation on their work in a direct, on-chain way, and artists can also create their own SBTs for different purposes, such as linking their NFTs to on-chain collections to deepen provenance. Thus, SBTs and the social networks they draw can help defend against plagiarism, deep forgery, etc.

Unsecured Loans

In the web3 DeFi space, the use case of lending without collateral is still clumsy, so SBTs can be used to create a "censorship-resistant, bottom-up alternative to top-down commercial and 'social' credit systems"

SBT could be a way for people to use their reputation as collateral for loans without having to provide collateral for the funds up front.

"Loans and lines of credit can be represented as non-transferable but revocable SBTs, so they are nested within the soul's other SBTs. Until they are repaid and subsequently burned, or better yet, replaced by proof of repayment."

Social Recovery

In web3, you don't want to lose access to your wallet, because in a DeSoc environment, you will lose access to your "soul".

Social recovery wallets like Argent allow you to rely on trusted relationships (i.e. guardians), which is currently our best option for protecting our Ether accounts over time. However, over time, maintaining a tight-knit group of active guardians can become tedious, so "social recovery" via SBT may be a better option.

Why is that? Because SBT keeps track of the community you belong to, so if you need to recover your "soul", then SBT can be used to "leverage the widest range of real-time relationships to ensure safety", not just a few guardians. Some implementation mechanisms still need to be worked out, but the concept is certainly possible.

Soul Airdrop

To date, airdrops have been a rather imprecise or inefficient way to cultivate new web3 communities. In contrast, SBT allows for "convening communities at the unique intersection of souls".

"Soul airdrops are airdrops based on the calculations of the SBT and other tokens within the soul, for example, a DAO who wants to rally the community in a specific L1 protocol can make a soul airdrop to developers who hold 3 of the last 5 meeting attendees who attended the SBT or other tokens that reflect the identity of the attendee (e.g. POAP). "

DAO Defense

DAOs, which are centered on community governance, face the threat of witch attacks, where users have multiple wallets to increase voting power, and SBTs will provide a defense against such attacks because they can more easily separate "unique souls and possible bots" to deny "any seemingly witch attacker's soul voting rights".

Flexible property

Today, in most cases, an NFT grants its owner the right to use, destroy or profit from an asset on a one-time basis. However, it is difficult to find situations where all these property rights are offered to a single owner outside of the NFT. Consider how you can use an apartment under a lease, but not destroy it, etc. Using SBT, you can not only mimic the mainstream property approach, but also create novel approaches for web3. For example, the authors of the paper mention the possibility of a local currency experiment in which SBT could make a currency more valuable to hold and consume for souls who live in a particular area or belong to a particular community.

Why Decentralized Society (DeSoc) is important

"Web3 aspires to transform society broadly, not just the financial system. However, today's social structures - families, churches, teams, corporations, civil society, celebrities, democracy - make no sense in a virtual world without the original languages that represent the human soul and the broader relationships they support (often called "metaverse") makes no sense. If web3 eschews persistent identities, patterns of trust and cooperation, and combinable rights and licenses, we will see witch attacks, collusion, and a limited economic realm of fully transferable private property, all of which will tend to evolve toward 'hyper-financialization' (hyper-financialization).

To avoid hyper-financialization while unleashing exponential growth, we propose to enhance and connect our sociality in virtual and physical reality, empowering souls and communities to encode rich social and economic relationships. But it is not enough to build on trust and cooperation. Correcting the bias and tendency to over-coordinate (or collude) among networks of trust is essential to encourage more complex and diverse relationships that span greater social distances than ever before. We call this the "decentralized society (DeSoc)": a co-determined sociality where souls and communities come together from the bottom up as emergent properties of each other to produce diverse network products at different scales.

We emphasize pluralistic network products as a feature of DeSoc because networks are the most powerful engines of economic growth, but are most vulnerable to capture by private players (e.g., web2) and powerful governments. The most significant economic growth comes from the increase in network gains, with each additional unit of input producing more output. [...] Networks with incremental gains are most efficient when they are neither purely public nor purely private goods, but partial and multiple shared goods. deSoc provides the social basis for decomposing and reconfiguring rights [...] and creating effective governance mechanisms between these rights to enhance trust and cooperation while checking for complicity and capture. "

Summary

For now, DeSoc is still just a concept and an area of research, not something we can tap into in the wild today.

However, with Ether and NFT, we already have the infrastructure we need, and these technologies will continue to evolve. And with this "decentralized society" paper, we already have the basic blueprint, not to mention that many projects are beginning to explore soul-bound NFT.

"Ether is the Shearing Point of hope. A timeless, programmable, global financial and coordination foundation. It is a bonfire around which we can build a cyberpunk world as well as a solarpunk world."

I think critics and supporters often focus too much on today's web3, and while that's perfectly reasonable and definitely worth discussing and working on, it seems to me and many other dreamers that we can't help but obsess and envision what's coming.

We have a long way to go before DeSoc really arrives, but after this paper comes out, it's clearer than ever that the future of NFT will be much broader and more social than many of us previously imagined.

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UST is worse than Bitconnect. At least Bitconnect isn't masquerading as a stablecoin. When your Ponzi scheme targets people's savings (not investment) portfolios, there's a special place in hell reserved for you. half of the CT influencers, venture capital firms and trading companies are complicit.

Rekt：

Whether through regulation or lack of confidence, this event is bound to severely hamper the mass adoption of DeFi. If DeFi turns out to be such that idols lead users into bankruptcy and large trading companies play into the fate of the entire ecosystem, then it has failed in its original intent to create a more equitable system.

Co-founder of Framework Ventures - Vance Spencer:

The alt l1 deal is over and people will value decentralization and stability going forward. Multi-chain is multi-chain eth and modularity/data availability is good, everything else is not. Cross-chain bridges are a disaster, economic security for alt L1 is impossible, and most of the drivers of alt L1 are inorganic mirages. We don't need to keep relearning this lesson.

Pangea Fund Co-Founder - Ryan Watkins:

Reducing the tails that cause the system to collapse is necessary to build a reliable system that can be the cornerstone of the global economy. Today feels like the culmination of a two-year experiment in token economics. If there is anything to learn beyond the infeasibility of algorithmic stablecoins, it is the dangers of antisomatic token economics. Consider the fact that the era of antisomatic token economics is dead. In short, the industry has felt like it was dying countless times. Cryptocurrencies have bounced back every time. This time won't be any different.

Binance founder-CZ:

We are in a new market with many innovations. Algorithmic stablecoins are one of them. When they're hot, they're all the rage. When they fall, it can be a vicious cycle. Some innovations will succeed, but many won't. At the end of the day, we need to go back to basics. Build real products that don't rely on short-term incentives or promotions, but have intrinsic value that people use. Most importantly, we need to be humble and respectful of the market and not arrogant. Build day by day, step by step. Leave the rest to the market and time.

The Block Research Director-Larry Cermak:

A bunch of cryptocurrency funds in South Korea are set to explode. Few large cryptocurrency funds have suffered huge losses. The retail market suffered heavy losses and reddit is full of people talking about suicide. Some companies have vaults in UST. Some companies are built on top of Terra /Anchor. This is very scary.

Maker Founder-Rune:

My biggest concern is all the rumors about ordinary people committing suicide because they can't face losing their family savings and leaving their families. They are targeted in the most cynical and reckless way possible, without being told in the least about the risks they are taking.

1confirmation Partner-Nick Tomaino：

Do Kwon is the leader of this farce, but there are countless influential "investors" actively promoting LUNA. remember who they are. Always be vigilant and form your own opinion.

Attracting real founders is also a good guide to the truth, as Terra has targeted many hot trends (stablecoins, L1 chains, DEX, etc.), but has done nothing new and different to move the space forward. They even actively attacked genuine projects. The demise of LUNA has certainly set the entire industry back, but the good news is that innovation and learning will continue.

Paradigm Co-Founder - Matt Huang：

Every generation relearns the lessons of leverage, both explicit and implicit. (The crypto industry has a 2-3 year generational time horizon)

EthHub Co-Founder-Eric Conner：

I really can't understand how any fund in this space didn't see the Luna crash coming. It's just too obvious. It's basically as obvious as Bitconnect. Are people that stupid or are they just blinded by greed?

Industry KOL-Cobie：

I think eth and btc will hit all-time highs in the future. Not sure how long it will take, but believe it will happen. Can't say the same for anything else though, think many of them can go down again -95% and valuations still locked in are still ridiculously high. Keep the firepower as long as possible. Maybe a few months, a few years, a tough decade ...... Who knows, certainly not me. Get away from your mental "peak net worth" and make a plan for the future. You can't win if you don't bet, and you can't bet if you lose all your dollars. Be safe.

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Project Highlights:

1. Founded by the original Twitch core team and live game experts, focusing on the short game video segment.

**2.**Backed by Three Arrows Capital, Hashed Capital, Polygon Foundation and Animoca Brands.

**3.**Overturn the value distribution relationship between Web2 platform and creators, and stimulate creative energy with a new revenue mechanism.

**4.**Strategic partnership with top KOLs from Youtube and Twitch and top e-competitions.

**5.**Gsr Foundation (which invested in Coinlist) is also involved in the project's incubation.

The Matthew effect of creation revenue on traditional platforms

The growth of platforms such as Twitch and Youtube has helped them gain massive viewership, but on the contrary, the earnings of platform creators have not improved, with most creators paying like a 50% revenue share of the platform, according to an article by US gaming portal pcgamer, there are more than 9.7 million lives anchored on Twitch each month, with only the top Only the top 0.015% earn more than the US median household income, and more than a quarter of the top 10,000 Twitch hosts earn even less than the US minimum wage. In this winner-take-all situation, content creation cannot be effectively activated, and the increasing variety of advertising and marketing campaigns are hurting the viewing experience of fans and causing a loss of users. This has created an opportunity for some new platforms to "take down the elephant".

There is a huge gap between creators' value and revenue.

FreshCut is targeting such a market pain point. In order for creators and users to get more value, they allow users to participate in the building decisions of the platform, incentivizing them to become active contributors and share the benefits of the platform's growth and development, "The benefits should not belong to the company that controls the platform, but to every participant in the platform. " This is the Web3 philosophy of FreshCut, which wants to reconstruct the "old world" controlled by social media and video companies.

Project Overview

FreshCut is a short-form Web3 gaming video platform and community for creators and fan users, showcasing the latest short-form content from video creators, gaming events and esports through FreshCut's app, platform and social community, connecting creators and fans through fun and entertaining gaming high points. Giving value back to FreshCut's community contributors, including fans, video creators and event organizers, FreshCut is committed to breaking old industry standards, building and maintaining a healthy, engaging and fun community, and sharing value to the community's creators and fans.

FreshCut ecosystem redistributes rewards to gamers and fans

Since video games became the basis of mainstream entertainment at the end of the 20th century, the gaming-related industry has grown in the past decade or so, with a series of gaming derivatives such as gaming communities, live video streaming and e-sports. The global gaming market data provided by Newzoo shows that the value of the gaming industry is close to $200 billion, and the number of people watching live games will soon exceed the 1 billion mark in 2021, with Twitch's live viewing time Newzoo predicts that by 2024, the market size of games and related industries will reach $218.8 billion.

Product Strategy

FreshCut's mission is to connect creators and fans to participate in community governance by providing the best in gaming entertainment content and to benefit all participants.

1.To provide a creative platform and community for creators：

Creators can post the videos they find most interesting or "showy" and attract fans who share their preferences, creating an authentic gaming community centered on the creator.

2.A more attractive revenue distribution system:

FreshCut is built with creator-centric features that allow creators to capture the value of their creations and reward fans for their contributions to the community, allowing creators and fans to suggest and vote on new platform decisions. In order to allow the creative potential of the platform to be thoroughly stimulated, FreshCut's reward system is tied to the activity of the community; the more active the user and the community, the more more rewards.

Linking Web3 and games via FreshCut

3.New algorithms drive content segmentation and vertical communities:

While closer to live gaming video platforms like Twitch in terms of content, FreshCut focuses on short video creation and uses a recommendation algorithm (similar to what Tiktok does) to accurately recommend short video content to their users.

Project Development Planning

Q1 2022: Launch of FreshCut's app and website, completion of strategic round.

Q2 2022: $FCD public offering.

Q3 2022: More creator and community partnerships established, $FCD and FreshCut integrated.

After 2023: FreshCut membership system upgraded, trading marketplace and pledge system launched, community development and advertising revenue product launched.

Products

Creators' tasks rewards

Creators can complete tasks posted by FreshCut and receive rewards, which include:

**1.**Publishing video content.

**2.**Increasing viewership and fan engagement.

**3.**Sharing and promoting their video content.

**4.**Engaging with fans using FreshCut's interactive features. Participating in FreshCut community events (e.g. tournaments, watch parties, game nights, etc.).

Fan Viewing Rewards

Creators can complete tasks posted by FreshCut, participate in community building, and earn rewards by completing tasks such as:

**1.**Watching videos.

**2.**Interacting with creators (e.g., liking, commenting and participating in creator-hosted events).

**3.**Sharing and promoting the creator's content.

**4.**Participating in FreshCut community events.

Fans earn rewards that can be used to reward creators, gain access to events, earn exclusive NFT airdrops, etc., and are eligible to receive benefits from the community or creators.

Platform Tips

Users can use the earnings they earn to reward supported hosts. FreshCut has set a revenue share target of 90% for creators in order to guarantee their earnings and to keep the creators' revenue share. This ratio is better than all the traditional web2 tip shares on platforms like You Tube, TikTok and Twitch, where their revenue share with creators is between 45% and 80%.

Platform Membership System

In order to give value back to community members who want to deeply engage with FreshCut, they can become FreshCut members. All FreshCut members are also eligible to participate in the management of the FreshCut DAO, and membership benefits include：

**1.**Exclusive FreshCut merchandise.

**2.**Participation in all FreshCut events, where rewards for participation will be increased.

**3.**Participation in IRL meetups, creator meetups and game giveaways held by FreshCut, etc.

**4.**Access to the members-only Discord channel to communicate with creators and staff.

Advertising and sponsorship benefits

In the future, FreshCut will work with strategic advertisers and sponsors to further reward creators and the community, and $FCD holders will enjoy product and reward opportunities through special events.

FreshCut's product system

Token Economy

$FCD Token Use Case

$FCD Token Allocation

$FCD Token Release Model

Investment Background

FreshCut is led by Three Arrows Capital, Animoca Brands, Galaxy, Hashed, GSR and many other top and tier 1 investors

Its seed investors are individual executives from companies such as Twitch, EPIC Games, Friends with Benefits, and Pinterest.

Team

James Kuk-CEO, Co-Founder of FreshCut Interactive

10+ years as a leader in the gaming and creator economy industry. Served as Head of Global Business Development and Strategic Partnerships for Twitch. Led business relationships with major gaming companies, esports leagues, social platforms and more.

Ben Stueck - Chief Product Officer, Co-Founder of FreshCut Interactive

Product development expert who has built deep experience at Twitch for game creators and community management. Leads core creator team development and product integration, enabling streaming and revenue sharing for millions of creators.

Ernie Le - Chief Content Officer, Co-Founder of FreshCut Interactive

Creator industry veteran and early leader of Twitch, instrumental in building and expanding Twitch's creator program to over 30,000 partners, driving Twitch to its initial milestone of 100 million MAU milestone.

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Our story starts in late March, when the Luna Foundation Guard (or LFG) starts buying BTC to help back $UST. LFG started accumulating BTC on 3/22, and by March 26th had a $1bn+ BTC position. This is leg #1 that made this trade (or attack) brilliant.

The second leg comes in the form of the 4pool Frax announcement for $UST on April 1st. This added the second leg needed to help execute the strategy in a capital efficient way (liquidity will be lower and then the attack is on).

We don't know when the attacker borrowed 100k BTC to start the position, other than that it was sold into Kwon's buying (still speculation). LFG bought 15k BTC between March 27th and April 11th, so lets just take the average price between these dates ($42k).

So you have a ~$4bn short position built. Over the same time, the attacker builds a $1bn OTC position in $UST. The stage is now set to create a run on the bank and get paid on your BTC short. In anticipation of the 4pool, LFG initially removes $150mm from 3pool liquidity.

The liquidity was pulled on 5/8 and then the attacker uses $350mm of UST to drain curve liquidity (and LFG pulls another $100mm of liquidity).

But this only starts the de-pegging (down to 0.972 at the lows). LFG begins selling $BTC to defend the peg, causing downward pressure on BTC while the run on $UST was just getting started.

With the Curve liquidity drained, the attacker used the remainder of their $1b OTC $UST position ($650mm or so) to start offloading on Binance. As withdrawals from Anchor turned from concern into panic, this caused a real de-peg as people fled for the exits.

So LFG was selling $BTC to restore the peg while the attacker is selling $UST on Binance. Eventually the chain gets congested and the CEXs suspend withdrawals of $UST, fueling the bank run panic. $UST de-pegs to 60c at the bottom, while $BTC bleeds out.

The crypto community panics as they wonder how much $BTC will be sold to keep the peg. There are liquidations across the board and LUNA pukes because of its redemption mechanism (the attacker very well could have shorted LUNA as well). BTC fell 25% from $42k on 4/11 to $31.3k.

So how much did our attacker make?

There aren't details on where they covered obviously, but if they are able to cover (or buy back) the entire position at ~$32k, that means they made ~$952mm on the short. On the $350mm of $UST curve dumps I don't think they took much of a loss, lets assume 3% or just -$11m. And lets assume that all the Binance dumps were done at 80c, thats another -$125mm cost of doing business. For a grand total profit of $815mm (before borrow cost).

BTC was the perfect playground for the trade, as the liquidity was there to pull it off. While having LFG involved in BTC, and foreseeing they would sell to keep the peg (and prevent LUNA from dying) was the kicker.

Lastly, the liquidity being low on 3pool in advance of 4pool allowed the attacker to drain it with only $350mm, causing the broader panic in both BTC and $UST. Any shorts on LUNA would've added a lot of P&L here as well, with it falling -65% since 5/7.

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Cross the Ages (CTA) is the first free-to-play card game with a three-token model and 7 fantasy and science fiction novels built into the game, it is the only game that enables a complete value chain loop from digital cards on cell phones to decentralized and mintable irreplaceable tokens (NFT) on the blockchain, to a complete value chain cycle in the real world via near-field protected physical cards with card game communication technology (NFC) and a team of more than 140 professionals is leading the project.

GameFi and NFT Markets

Overview

Most online games are based on a centralized model that hosts its data on a server that is fully controlled by the game administrator. The server contains all account data, history and information about all in-game assets belonging to the account, be it achievements, purchases, transactions or upgrades performed by the user. Gamers are exposed to the company's decisions regarding user account information, items and assets.

Some of the risks faced by a centralized server are:

1. Server failure due to technical problems .

2. Hacking into the system .

3. Game shutdown.

4. Unreasonable account bans .

5. Lack of transparency in game mechanics and rates.

6. Manipulation of game economy by developers and administrators.

However, blockchain technology can handle and alleviate most of these problems.

Blockchain-based games are already available today, but they are only accessible via PC/MAC. None of the games offered today are mobile games, and therefore none of them translate into the experience gamers really want.

Cross The Ages will take a mobile-first approach to getting gamers into the story, gameplay and characters. Gamers will then be taken to a PC/MAC blockchain-based application to activate trading cards and participate in an online marketplace by casting NFTs.

In addition, players will experience another bridge between the virtual blockchain space and the physical world by collecting physical representations of their digital assets in the real world - collectible NFC cards.

Value proposition

Since their creation, collectible cards have covered different media, sometimes cardboard, paper or even plastic, but they have always been represented in physical media. the advent of NFT has made it possible to collect cards in digital format, but still maintain a connection with their physical versions.

Cross The Ages collectibles connect the digital world with the real world.Cross The Ages' innovative approach to gaming allows digital collectibles to not only exist in the digital world, but also form physical collectibles. The digital experience is combined with the physical experience to provide seamless integration of the world and the marketplace in which they operate.

The combination of NFT as a digital identifier and NFC as a dual identifier for physical assets ensures an unprecedented added value in the collectibles market.

In addition to this unique approach, the legendary universe in which it takes place, as well as the artistic visuals created by more than a hundred renowned artists, ensures that the crossover has all the potential and resources needed to go beyond collectibles card games and flourish into their own Metaverse.

Cross the Ages utilizes blockchain technology to ensure that our players are able to.

1. Collect cards that do not deteriorate.

2. Track the membership history of each digital and physical card to instantly verify its authenticity.

3. Guarantee card scarcity.

4. Conduct 100% secure transactions without the fear of buying counterfeit products.

5. Protect valuable cards from theft while accessing full DeFi interoperability for cards and tokens used for pledging, lending, trading and more DeFi features in the game.

Games

Cross The Ages is a collectible card game, based on the rich and exciting universe of the "Cross The Ages" saga.

Players face off in intense turn-based duels, with each match lasting an average of 5 minutes.

The goal is to develop the best strategy to conquer and control the maximum space in the battle arena.

Each player begins the game by collecting 20 numbered cards. Ten cards are then chosen at random and form the player's deck. The battle is ready to begin!

Arm yourself with courage and ingenuity and become the champion of Appologium!

CTA Token Overview

CTA token are utility tokens that give major gaming advantages and allow users to migrate from the digital space to the physical world.

The following operations require the holding, consumption or mortgage of CTA tokens：

Digital Cards - Trading, lending and merging of digital cards as well as purchasing supplemental packs. The merging of digital cards creates rarer and more valuable cards.

NFT - Minting NFTs from digital cards, as well as merging NFTs to create rarer and more valuable NFTs. players can also lend their NFTs to other players to earn CTA tokens. NFT can also be bought and sold on the marketplace in the form of CTA tokens.

pledge - Players are encouraged to pledge their CTA tokens to earn valuable assets and increase the liquidity of the CTA pool.

Main Games advantages - For example: accelerating game progress, visit outside the series Valuable NFT, special visit guild matches and tournaments as well as visit exclusive content.

Metaverse Land - Pledges of CTA tokens will have exclusive access to Metaverse land sales during the initial offering period.

Governance - As the game evolves, there will be participation in the development of the game and the Metaverse through community voting and governance rights. More information on the logistics of DAO governance will be posted in time.

The utility of the CTA Token will be further developed and enhanced in a dynamic manner to meet the needs and desires of our gaming community. This is to ensure that the interests of our gaming community, contributors and supporters remain aligned and that the CTA Token is widely available.

NFT Market

Players can win cards when they participate in challenges or special events. These cards can then be minted into NFTs or merged for more valuable NFTs.

The minted NFTs will be tradable on EVM-compatible markets such as OpenSea, as well as on the internal market. Trading NFTs on the internal CTA market is more advantageous because of the limited cost of Gas.

NFC Card Market

As for the physical card market, Cross The Ages has a partnership with Cardmarket (https://www.cardmarket.com), the world's largest physical card marketplace.

To avoid counterfeit products, each card is protected by NFC, which ensures authenticity, provides a history of the asset through transparent traceability, and guarantees that the card holder is the rightful owner.

Token Economics and Distribution

The total supply will be 1,000,000,000 CTA tokens and will be non-inflationary in the future.

Tokens will be distributed to the following stakeholders:

Fundraising - 25% of the tokens are used for fundraising, as follows.

1. Private and seed investors - contributors participating in the private sales round - 20.7% (207,000,000 tokens).

2. Community Presales-2.3% of tokens allocated to community presales (23,000,000 tokens).

3. Launchpads-2% of tokens allocated to public community sales on trusted Level 1 Launchpads (20,000,000 tokens).

4. Long Term Rewards - Long Term Community Rewards - 20% (200,000,000 tokens).

5. Marketing - Ensure excellent marketing efforts - 7% (70,000,000 tokens).

6. Development- Ensure development efforts-5% (50,000,000 tokens).

7. Reserve and Treasury - future fundraising reserves and treasures - 25% (250,000,000 tokens).

8. Advisors - 3% (30,000,000 tokens) for their efforts in contributing to our success

9. Graphics Team - 3% (30,000,000 tokens) for our design and graphics team's efforts towards our success.

10. Founding Team - 12% (120,000,000 tokens) for the full-time efforts of our core team members for our success.

Game Development Roadmap

1 . Trial production in October 2021

2 . Production in December 2021

3 . Testing in March 2022

4 . June 2022 first look at the game

5 . General access July 2022

6 . E-Sports Tournament August 2022

7 . Solitaire Season 2 December 2022

8 . Second novel February 2023

9 . Metaverse V1 June 2023

Blockchain Infrastructure

Smart contracts for fungible and non-fungible tokens and the DeFi marketplace will be deployed on the Polygon blockchain (formerly known as Matic). cross The Ages is directly backed and supported by the Polygon team.

Polygon offers reasonable gas fees, enabling Cross The Ages to be scalable and run on existing DEX and marketplaces. openSea is one such marketplace where Polygon based tokens can be deployed.

In the future, CTA tokens will bridge to multiple other blockchains to ensure interoperability and access to additional pools of liquidity.

All smart contracts will be extensively audited before being deployed on the mainnet.

Investment Team

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There are definitely irrationalities behind the brutal expansion of the Web3 concept, for example, we see that most Move to Earn projects are homogenized, there are also some old projects that have been eliminated, they repackaged a bit and rubbed on the Web3 fever, there are few cases of selling NFT and launch token before the APP is launched.

However, replication, trial and error, iteration, innovation is the market must go through the process. mfers image from the "Are u winning son" stalk figure, now the floor price of 2 ETH, has been ranked among the blue chips. bayc birth can not escape the shadow of CryptoPunks, but BAYC has BAYC has acquired CryptoPunks to become the first IP in the NFT world.

Similarly, a large number of Web3 to Earn projects have been launched in a copycat manner, borrowing from the successful ones' dual-token economic model and token consumption scenarios, and packaging them with "healthy living", "environmental protection", "meditation They borrowed the successful ones' dual token economy model and token consumption scenarios, and packaged them with "healthy living", "environmental protection", and "positive thinking" concepts to attract users with to Earn, but it is undeniable that they are making improvements and innovations to Web3 to Earn.

What kind of Web3 to Earn projects have a stronger vitality?

Lower the threshold of participation, free to earn.

Axie Infinity and Stepn are recognized as the most successful Web3 to Earn programs. The former's threshold for participation is 3 Axie, worth about $1,900 at last October's price. The latter's participation threshold is 1 pair of sneakers NFT, now flooring at 20 SOL, worth about $2,000. The high participation threshold has dissuaded a large number of users.

The newly emerged Web3 to Earn program has significantly lowered the barrier to entry. According to statistics, new Web3 projects such as Wirtual, Sweatcoin, Calo App, dotmoovs, Aircoins.io, etc. support mobile to download APP and register with email or mobile number to play.

One side of the coin is a lower threshold, and the other side is a correspondingly lower return for users. Take Sweatcoin and Aircoins for example. Sweatcoin does not support secondary market exchange yet, and the tokens can only be used for the purchase, auction or donation of goods from 600 brand partners within the app. aircoins withdrawing coins to an address needs to meet the condition that the value reaches $20 or more.

Although a low threshold means a low gain, but for the development of Web3 to Earn, low/no threshold is still the trend.

First of all, users are the basis of platform fission.

Imagine a Play to Earn game where you have to buy 1 of 8,888 NFTs to play, so once the game gets hot, it will definitely be monopolized by the "elite users" who have money and leisure.

Another Play to Earn game, users can start the Web3 journey by downloading the application on their cell phones and registering their emails. Although the financial return tends to be 0, ordinary users can participate, whether they are woolgatherers, hotspots, real game lovers, or others, the scope and number of users are not limited.

Second, the high entry barrier does not constitute a necessary condition for price stability.

If the product can hit the market pain points, the features can be optimized, the gameplay can be unlocked, and the community and culture can be gradually built, then the price can reflect the value. uniswap is a good example, meeting the liquidity and automatic market making needs in a point-to-pool way, providing simple features and interface, so that the price can maintain stability even after generous airdrops.

Another benefit of Free to Earn is onboard's massive number of Web2 users. According to statistics, the number of global Internet users reaches 4.9 billion by November 2021. web2 can be the most direct source of web3 user expansion.

By allowing a large number of Web2 users to experience the Web3 product with low/no barrier, they will experience what it means to own digital assets such as NFT; the withdrawal process will educate them on how to create wallets and keep the helper words; it will also show them that Web3 world accounts - wallet addresses can be applied to multiple without repeated registration platforms and will not be closed by third parties.

Expanded functionality and scenarios, embedding Web3 to Earn in life.

The new Web3 to Earn project is expanding the functionality and scenarios of the application. For example Move to Earn has been extended to Bike to Earn, Drive to Earn, Exercise to Earn, and Miditate to Earn.

Related projects include Wirtual, dotmoovs, VICMOVE, PUML Better Health, BikeRush, ZenCats, etc.

The Web3 to Earn format is also becoming more interesting. For example, Genopets, a Move to Earn project on Solana, combines sports and games by extracting players' sports data through mobile devices and converting it into experience values that can be used to upgrade the game's pets.

The extension of functionality is the result of the gradual discovery of user needs.

When the weather is bad, the Move to Earn program, which combines dancing, yoga and meditation to earn coins, can compensate for users' outdoor running needs. For the user who has the habit of cycling, the Bike to Earn program can be embedded into his life very easily. All he has to do is to download the app and open it before each ride.

The Web3 to Earn program also promotes more active lifestyles such as exercise, learning, environmental conservation, and meditation and positive thinking.

For the Web3 to Earn program, users originally had the purpose of to Earn, but after a period of persistence, they began to recognize some non-financial rewards, including getting in better shape, becoming healthier, and having a more positive mental state.

The survey shows that for such programs, 83% of users are still willing to continue using them even if they enter a death spiral. There are even users who are willing to enter the program after it loses its heat. Compared to fitness cards, the Web3 to Earn program brings users financial rewards that are visible every day, and users are motivated to make healthy lifestyle choices every day.

For example, there is a program called Poppin on Solana that focuses on Eat to Earn. after taking pictures of food, you can get a Pop-bites virtual pet, Pop-bites are fed by taking pictures of food every day, what the Pop-bites grow into depends on the kind and amount of food you eat, and there are further GameFi play between Pop-bites further GameFi gameplay. Although there is still relatively little information about the project, it can be speculated that this could be a project to motivate users to eat healthy and diversify their diet.

In addition to that, Web3 to Earn will allow users to catch up with trends in a more interesting and novel way. When you show how many coins you have earned from running and how many coins you have earned from meditation on social media platforms, you can show your avant-garde lifestyle and attract other Web3 participants to interact with you.

Social attributes are thus unfolded. In fact, a number of projects involve social features, such as support for liking the creator's content and chatting among users. Social attributes can greatly enhance user stickiness.

Web2 applications are already emphasizing the importance of social interaction. For example, in the Keep community, fitness experts share their fitness results and healthy diets to provide motivation for other users. In the VW community, users share their experience of punching cards to attract other users to experience them. This should also be the trend of Web3 to Earn projects.

Summary

The future of income is X to Earn, maybe one day, the whole Web3 to Earn track will be detached from the investment property after the market FOMO, greed, and cooling, and will really become popular and part of our daily life.

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There are many good gamers among them, there are also a lot of rubbing heat.

1. The dual-currency model (utility token + governance token) pioneered by Axie Infinity is widely accepted by many projects, and is seen in various X To Earn projects today, including the representative Stepn. The design of this model has slowed down the token selling pressure to a certain extent; of course, the key to less selling pressure is the design of the project itself for the token application scenario consumption.

2. NFTs have become standard in To Earn programs to capture more new users for free, and Move To Earn programs basically use NFTs as an entry ticket that players must purchase to earn tokens, but for latecomers, the progressively higher NFT floor price, increases the payback period and may result in less willingness to enter. Therefore, there are some projects that adopt a no-threshold model, allowing players to participate for free upfront and earn at the same time, but with relatively small returns. This type of game will attract a larger and more diverse group of players, greatly expanding the overall market for games.

3. Move To Earn class project boundary extension. Stepn mainly focuses on outdoor walking, jogging and fast running, so some emerging players started to work on dimensions such as sports scenes (gym, indoor), sports types (swimming, cycling), increase the interaction with game scenes and match with smart hardware. Although the overall innovation is not great, it has enriched the market of M2E. Moreover, because of their natural health and social attributes, such projects are more likely to fission and spread, attracting new users to enter.

I. Lifestyle Monetize: Move To Earn

Project Name: STEPN

Website: https://stepn.com/

Introduction: STEPN is a Web 3 lifestyle sports app based on Solana (now with the addition of BNB Chain) with social and gaming elements. As the pioneer of the Move To Earn track, STEPN has managed to attract the attention of the crypto market and gradually come out of the ring in the past month or so.

Specifically, players need to purchase NFT sneakers in the app and earn tokens by walking, jogging or running outdoors: you can earn GST until level 30 is full, and you can choose to earn GMT after that; GMT is currently live on multiple platforms such as Coinan, and has risen up to over 30 times in the past month.

In addition, NFT sneakers have five qualities (common, uncommon, rare, epic, legendary), and different qualities have different abilities to earn tokens, and fertility (Mint) is also possible between two pairs of sneakers.

In terms of financing: STEPN received $5 million in seed funding in January this year, led by Sequoia Capital India and Folius Ventures, with participation from Solana Ventures and Alameda Research; in April this year, Binance Labs announced a strategic investment in STEPN, the exact amount of which is unknown. In addition, STEPN recently announced a limited edition virtual sneaker NFT in association with ASICS, and will IGO in the Binance NFT marketplace.

Project Name: Genopets

Website: https://www.genopets.me/

Introduction: Genopets is a GameFi handheld game based on Solana blockchain that collects and breeds elves, trains and battles.

Simply put, players can earn tokens (GENE and KI) by using the game's Genopet NFTs to earn revenue. There are five types of NFTs throughout the game, namely: Genopet, Augment, Habitat, Refined Crystal, Terraform Seed; the last four NFTs have different functions and are mainly used to provide a survival site (upgrade site) or change the outside of the genie. The latter four NFTs have different functions and are mainly used to provide a survival site (upgrade site) or change the appearance of the sprite's skin and other features. Elf upgrades and enhancements require XP, which is earned through real-world exercises (tracked by the user's mobile device or wearable) or through in-app matchups with other players, which is why it is called a "Move to earn" game. In addition, the game supports both free player and paid player models, allowing players to cast their Genopet for free and benefit from selling it through upgrades.

Genopets closed an $8.3 million seed round last October led by Konvoy Ventures (an Axie Infinity investor and board observer) and Pantera Capital, with participation from Old Fashion Research, Alameda Research, Solana Capital, and Animoca. Solana Capital, Animoca Brands, Yield Guild Games (YGG) and others.

Project Name: WIRTUAL

Website: https://wirtual.co/

Introduction: WIRTUAL project was established in 2019 and is dedicated to improving human lifestyle. In the early version 1.0, it only supported running function and cooperated with several Thai long-distance running organizations; this year, it launched version 2.0, which added walking, swimming, dancing, exercising and cycling to the original running, and introduced cryptocurrency as well as NFT.

Specifically, players need to equip Avatar NFT, there are four types: hat, clothes, shoes, accessories; each type has five qualities: general, rare, epic, legendary, mythical; different levels of equipment, the number of times the data can be submitted daily and the maximum amount of WIRTUAL tokens obtained are different. After equipping the NFT, players will need to connect to health and fitness apps (such as Strava, Fitbit, Garmin, Apple Health and Google Fit) to track their exercise data and earn WIRTUAL tokens upon completion.

There are a few points to note about the project's tokens: first, the total amount of tokens is 1 billion, 45% of which can be mined through M2E and distributed over 10 years, with another 25.5% allocated to the team's grasp; second, the tokens can be used to buy NFT or sold, and only PancakeSwap and a few midstream CEX are currently online.

Project name: sweatcoin

Website: https://sweatco.in/

Introduction: sweatcoin was founded in 2018 and is a free app. Simply put, players register in the app and track their outdoor steps via GPS location and their phone's accelerometer; once they reach 1,000 steps, they receive their first reward, the app's exclusive virtual currency, sweatcoins. They can also receive discounts on goods and services from more than 600 brand partners, such as yoga classes and discounted airline tickets.

This summer, sweatcoin will release the token SWEAT, which will allow users to convert previously acquired Sweatcoins into SWEAT in a 1:1 exchange, and will be built on the Near blockchain, with investment from the NEAR Foundation and other sponsors including OKEx Blockdream ventures. According to the official description, sweatcoin currently has 64 million registered users.

Project name: OliveX

Website: https://www.olivex.ai/; https://www.dosetoken.com/

Introduction: OliveX aims to build a fitness meta-universe with a very rich ecological product. It contains a variety of forms and scenarios of M2E games, with richer scenarios, stronger gameplay and more playability. It has also developed smart hardware products and smart software products to enrich the application of M2E games in various scenarios.

Part of OliveX's strategic goal is to become the fitness company of choice, helping fitness brands interact with the sandbox virtual world. It is currently working with globally recognized brands such as Playinnovation, Gym Aesthetics and Trib3 and intends to assist these and other brands to integrate into the Sandbox virtual world.

The token DOSE is the core of OliveX's gamified fitness ecosystem. Players can earn DOSE tokens by completing workout-based games in Dustland Runner, Dustland Rider, 22 Pushups and other experiences; these tokens can be used to unlock items, purchase NFTs and participate in special events and game modes. 5 billion DOSE tokens are now live on Uniswap, PancakeSwap and APES. PancakeSwap and APESwap, with a market cap of $6.36 million in circulation.

II. Professional skills monetize

Project Name: Let me speak

Website: https://www.letmespeak.org/

Introduction: Let me speak is a Learn To Earn mobile game powered by Solana, a team of 20+ people based in London, Dubai. one of the features of Let me speak is that the scenario and game setup allows players to lower the learning threshold and have fun.

Specifically, players can use the free version in the app to learn English (but will not earn) or buy an NFT from the marketplace to earn while learning. Each NFT character has daily energy that is converted into learning rewards; each time a correct answer is given while learning, a portion of the energy is converted into tokens and players are rewarded with the token LSTAR. In addition, players can also have two NFTs spend a certain amount of tokens to Mint out a new NFT (the same way Stepn plays).

Project name: Crypnote

Website: https://crypnote.io/home

Introduction: CrypNote is a web3 permanent storage notes and collaboration platform based on ARweave storage, which enables content privacy, content sharing, editorial collaboration, content ownership, content interaction through on-chain encrypted storage, suitable for DAO organizations to collaborate create, motivate, share, and synchronize. The project is still in the testing phase.

According to the official plan, NFT holders are eligible to experience the product, receive test tokens (which can be exchanged for official tokens in the future), and have IDO priority. It is not yet clear how Write To Earn will work.

Project name: Hivemapper

Website: https://hivemapper.com/hivemapper-dashcam/

Introduction: Hivemapper is such a blockchain-based map network. It wants to create a decentralized global map that rewards contributors. Contributors can collect data by installing Hivemapper's car recorder and earn local Token HONEY as a reward - HONEY is built on Solana and totals 10 billion.

In Hivemapper's setup, its car logger is the equivalent of a "mining machine". It integrates natively with the Hivemapper network through a seamless mobile app, and places the mapping on autopilot and uploads it automatically. By simply installing Hivemapper Drive Recorder, you can mine HONEY tokens for rewards while driving, collecting 4K street-level images and mapping the world. Hivemapper is currently in beta testing in 9 countries.

On the funding front, Hivemapper announced an $18 million Series A round led by Multicoin Capital, with Craft Ventures, Solana Capital, Shine Capital, and Spencer Spencer Rascoff 's 75 and Sunny Ventures. With previous investments from Spark Capital, Founder Collective and Homebrew, Hivemapper has raised a total of $23 million in funding.

Project Name: Seoul Stars

Website: https://seoulstars.io/

Introduction: Seoul Stars is a Web3 project launched by HUMAP, a Korean artist agency. The organization designed a 3D virtual idol named Yuna, which is the core image of the Seoul Stars project, and released the Yuna Genesis NFT, which allows users to attend Yuna's online concerts and receive the token SSTAR public whitelist.

For the Sing To Earn section, the project released a game with two main levels: (1) players need to click on the notes falling on the screen to pass the level; (2) players need to sing and get a high score. After passing the level, players are rewarded with tokens SSTAR, even if they don't hold NFT, but they can also participate, but holding NFT increases their earnings more. Note that the songs in the above game are all from Yuna's album, which is not friendly to Chinese users who do not speak Korean.

Project Name: Cipher

Website: https://cipher.media/

Introduction: A blockchain project focusing on hip-hop art, called "Cipher", has emerged.

The project is dedicated to breaking down traditional music distribution barriers and opening up new channels to reward hip-hop artists by distributing music and attracting fans through NFT. " Cipher is helping artists find their audience, up their game, and get paid in cryptocurrency with collectible hip-hop music. It's time to change the rap game."

Specifically, players click to launch the app on the official website, record their raps, the system's built-in metronome allows for restful touches to the sound, and the system's built-in SprayGAN then creates an exclusive production graffiti album cover for each track. Such a complete music album will be sent to the ethereum blockchain and made into NFT for trading, realizing "Rap To Earn".

However, from the project's current Twitter followers of only 1,000 people, it seems that this artistic attempt is not widely accepted by the market.

III. Mission Mining

1. Watch to earn

Project name: SocialVerse

Website: https://www.socialverseapp.com/

Introduction: SocialVerse is a Web3 social media platform that aims to increase user governance of the platform through transparency and progressive decentralization to address the persistent problems of traditional social media: data monopoly and uneven distribution of user benefits.

Specifically, SocialVerse has several unique features: (1) Spheres is the community of the SocialVerse world and a new way to interact; (2) an embedded crypto wallet where users in SocialVerse will get a crypto wallet to connect, collect and save their The more videos users watch, the more SocialVerse tokens they earn; the more quality content creators create, the more tokens they earn. The more videos users watch, the more SocialVerse tokens they receive; the better the content creators create, the more tokens they receive; (4) Live streaming, using advanced SocialVerse features, allows video creators to stream live and receive virtual goods from their fans - supporting SocialVerse token purchases; (5) A new algorithm, the Tiered Like System, is designed to allow users to build a healthy relationship with SocialVerse. SocialVerse provides users with the ability to control the algorithm feed based on their true preferences, which helps the platform curate content with users, and video viewers no longer have only like and dislike features, adding "super likes".

Currently, the SocialVerse token is not yet live and is scheduled to be released in the second quarter of this year. According to SocialVerse plans, 60% of the platform's advertising revenue will flow back to the token's creator and consumer pools, serving as the value behind the token.

2. Sleep to ea

Project name: Sleep future

Website: https://sleepfuture.com/

Introduction: Sleep Future claims to be the world's first blockchain-powered sleep health ecosystem designed to improve the sleep quality and health of the global community.Sleep Future introduces a Sleep-To-Earn mechanism to reward the global community for sleeping and earning $SLEEPEE tokens, with the dual goal of innovating sleep technology development and real-world utilities in the Sleep Future ecosystem.

Specifically, users connect to the app and go straight to sleep and are rewarded with SLEEPEE tokens the next day based on their sleep quality, which the project claims to do primarily through sleep monitoring apps powered by cutting-edge sleep science and improved technology. Users can also purchase and pledge SLEEPEE tokens to boost their sleep income; alternatively, they can redeem their SLEEPEE tokens to trade or purchase products and services in the official SleepStore and offline experience centers. Officials say there are currently 3 physical experience centers in Singapore and 2 physical experience centers in Malaysia.

3. Eat to earn

Project name: Poppin

Official Twitter: https://twitter.com/PoppinLand

Introduction: Poppin is an "Eat to earn" mobile game based on the Solana blockchain, in which players can collect a fantasy creature called Poppin and earn revenue through cultivation as well as battles.

Specifically, players log in to the app, take a picture of your food, and get a Pop-bites (cub); then, you need to take a picture of your food every day to feed your pet and raise it; the cub will decide its ultimate development based on the type and amount of food you eat every day, and you never know what it will grow into. Finally, you can use the pets you raise to fight for revenue. The project is currently in development and will soon release Genesis NFT, but it is not certain if tokens will be issued in the future.

4. Drink to Earn

Project Name: CLASS Coin

Website: https://www.classcoin.io/

Introduction: CLASS Cafe is a chain of offline coffee shops in Thailand, established in 2013, and has opened 16 chains in seven provinces of Thailand so far. Another application scenario for CLASS Coin is that it can be used to trade NFTs, land, participate in various activities, etc. in the chain tour Velaverse.

Recently, due to the popularity of X To Earn, CLASS Cafe launched Drink To Earn campaign: users can earn 5 platform tokens for every cup of coffee they consume offline.

5. Meditate To Earn

Project Name: Proof of Meditation

Website: https://proof-of-meditation.vercel.app/

Introduction: Proof of Meditation is a 2022 ETHDenver entry that aims to improve human mental health through meditation.

Specifically, users will register and pay $100; for 21 days, they will meditate once a day, and each time the system will generate a unique NFT (with different colors to represent different levels of health) based on their heart rate; if you are able to keep up with the daily meditation schedule and meet the requirements, you will receive a full refund; if you miss a day, $5 will be deducted; if you miss more than 10 days, $100 will be forfeited. If you miss a day, $5 is deducted; if you miss more than 10 days, $100 is forfeited.

Summary

The Web3 wave is coming at us and accelerated adoption in the form of to Earn. Despite the irrationality and bubbles in the market, Web3 to Earn is also undergoing improvements and innovations. The barriers to entry have been lowered, the functions and scenarios of to Earn have been expanded, the concept of healthy living and environmental protection has been emphasized, and social attributes have been incorporated. ......

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ALTAVA GROUP Digital service provider for luxury brands

Basic information of the project

Basic information

1.Projects

ALTAVA aims to digitize real-world physical luxury items, casting them as NFTs and allowing their holders to use them in various virtual worlds in the Metaverse. The NFT "Second Skin : Metamorphosis" is a PFP-type item with a total of 6,765 pieces released, signifying a second layer of avatars in the Metaverse, 3D and high simulation style, allowing you to create and match different elements in the future ALTAVA Worlds of WoY has been released in its initial version, a gaming social platform for luxury fashion, ALTAVA MARKET supports consumers to trade and exhibit their virtual assets in a virtual world.

The arrival of COVID-19 has led to a decline in global luxury sales, and many brands have accelerated their digital presence to break the physical limits and conventional shopping methods, creating new opportunities and challenges for technology solution providers, and ALTAVA is at the forefront of this revolution. ALTAVA has used its technology to partner with some of the world's leading luxury brands and to launch a new digital marketplace in an attempt to create its own independent ecosystem.

2.Team Background

ALTAVA GROUP is a Singapore-based company with a branch and strong business capabilities in Korea. According to the white paper, it has already entered into cooperation with several world-renowned luxury brands, including Prada, Bvlgari, Chloe, Balmain, Burberry, Armani, Bulgari, Thom Browne, A.P.C, Moncler, etc. The partner brands will develop, operate and sell their licensed virtual assets for these brands through ALTAVA's platform.

Andy Ku, Chief Executive Officer/Founder

Graduate of Cornell and Harvard University

Serial entrepreneur in social media and gaming

Founding member of Nurien Soft, developer of MStar - a stylish 3D avatar-based social game sold to Netmarble, one of the world's largest gaming companies with a market cap of $13.5B

Co-founder and CEO of Realtime Worlds Asia

Founding member of BlueArk Global, a mobile media, education and gaming services company

Elizabeth von Guttman Co-Founder/Chief Communications Officer

Co-founder of System Magazine

Co-founder of Ever Consulting & Manifesto

Director of Business Development, Wednesday Agency Group

Jin Young Choi Chief Technology Officer

Chief Executive Officer / Co-Founder of ACTS29

Chief Executive Officer/Founding Regent of LIBRA SYSTEMS Inc.

Chief Executive Officer/Founder of LIBRA

Chief Executive Officer/Founder of 1semi

Former developer of KT R&D Center AI Lab

Karina Cha, SVP, Brand Partnerships

Co-founder of DKC Studios

Shinsegae International, former fashion and business consultant for Boon the Shop

Robert Rodriguez former Vice President of Sales and Operations

2.Investment Relationships

Natalia Vodianova is a Russian model, board member of Special Olympics International and UN Goodwill Ambassador, founder of Naked Heart Foundation.

SM Entertainment Korea's largest talent agency, founded by Lee Soo Man, has a number of famous artists and groups: EXO, Super Junior, Dong Fang Shen Jie, Girls' Generation, SuperM, An Qi Xun, Minho, etc.

Netmarble Korea's largest mobile game company, has developed games including Seven Knights, Modoo, Cookie Jam, Lineage 2 Revolution, Marvel Future Fight, Panda Pop, MaguMagu, etc., with revenue of US$2.5B in 2020.

Translatio is a luxury fashion and lifestyle retail management partner and consulting firm. Focused on retail management, operations and specialty fashion retail concept development in China. Over 30+ top global luxury fashion brands to work with in China.

LG Electronics LG Electronics is part of South Korea's fourth largest conglomerate, with global sales of $55.91 billion. The company has 128 subsidiaries worldwide with 83,000 employees.

Hyundai Department Store Group A publicly traded department store in Korea, the company also produces home shopping programs for cable channels and sells merchandise through home shopping programs.

Animoca is a leader in digital entertainment, blockchain, and gamification, having been ranked among the top companies in the Asia Pacific region by The Metal Times 2021 list of highly successful companies. Crazy Defense Heroes; and products that use popular intellectual property, including Formula 1®, Marvel, WWE, Power Rangers, MotoGP™, and Doraemon.

3.Roadmap

1.ALTAVA public sale of the first NFT-Second Skin : Metamorphosis (PFP)

2.Launch of social gaming platform-ALTAVA WOY Alpha

3.TAVA Token IDO (as of March 10 community announcement will be extended to sometime before May)

4.Release of ALTAVA Circle - for architecture and fashion creation (C2E)

5.Release of ALTAVA Market - for virtual asset trading

6.TAVA Token Pledge (Defi)

7.Update WoY (P2E and Social-fi)

8.Release of ALTAVA Land for Sale

9.TAVA tokens for real business development

ALTAVA's roadmap starts from four perspectives: product, business, creation and tokens, to build its own ecology in the virtual world and eventually serve the real world business development. Although only NFT and WOY Alpha have been released at this stage, more surprises and experiences will be brought as the products are updated and iterated and famous partner brands are added. woy is now available for download on Google Play and App Store, search does not show then you need to change your region.

4.Technology

Storage Standard: ERC-721 (Ethereum)

Contract address: 0x82f371b47cc5b9cf23af60a9a31a9e7a6bef8a2d

Project Analysis

1.Play Analysis

The Second Skin : Metamorphosis series, of which a total of 6,765 are on sale, can be used in WoY to form a second metamorphosis by interacting with your NFT, changing your image, wearing different virtual assets, or even structural transformation.

Experience: ALTAVA has become the official brand customization digital service provider of LVMH, and Hodlers can preview and try the 3D files of the partner brands first.

Business: The project will give value to NFT through industrial extensions and services. Virtual fashion shows and virtual advertising shoots will be selected from Hodlers and conducted using their models, with the holders receiving a share of the proceeds.

Creation: Second Skin community members will be able to design and create their own virtual fashion, which will be sold through ALTAVA MARKET to generate revenue.

Tools: DAO, where holders participate in community discussions about future collaborations with the brand and vote on the development path and all matters related to the Second Skin brand through tokens.

Airdrop: Access to exclusive NFT airdrops at market.

Land: A whitelist of future land sales where ALTAVA Land holders can build their own worlds and create their own virtual brands.

Interoperability: Holders access to dedicated spaces in SANDBOX and ALTAVA WoY, and will support access to more different metaverse in the future.

2.Token Analysis

TAVA tokens to be minted on BSC (BEP-20)

TAVA tokens, as the most important part of the whole ALTAVA ecology, give value and development power to the features of WoY World Unrest. Users are able to earn money in WoY by playing games (P2E), by using their models in exchange for advertising revenue (Social-fi), by creating virtual goods and minting them for sale (C2E), and by providing pledges of tokens and NFTs.

3.Data

February 28 pre-sale of 2,400 Second Skin has mint 2,278, when technical problems with the site led to some whitelist users postponed a few days before mint, the remaining unmint will flow into the public sale. Pre-sale price of 0.21, the price has not fluctuated much in recent weeks, the market performance is more stable, the floor fluctuates between 0.30 ~ 0.35. As of 3.10, the number of holders is 1533, the pending rate is only 5%, most of the white list holders mostly have confidence in the project and are ready to hold it for a long time.

Community Operation

1.Community Operation

White List The list still follows the more traditional way of getting the whitelist by activity and invitation, and later on the lottery is the main way to get it. Elite Apes is an ALPHA community with 150 BAYC holders, and after research and analysis, the evaluation of ALTAVA on twitter is "one of the high potential, high quality investment projects". The community is a very active one.

2.External Cooperation

Vogue x ALTAVA : Together they built a 3D digital version of a virtual window display of luxury goods.

Vogue x ALTAVA at the Met Gala : Turning fashion star models into high-fidelity, interactive 3D images at the Metropolitan Museum of Art.

Other community collaborations include Elite Apes, The Sandbox, LostEdenNFT, InfinityPad, PlayPad, Bondly, Seedify, and more; covering a wide range of different areas such as Alpha Community, Land, Gamefi, Token, other NFTs, and more.

Personal Analysis

1.Personal view

The ALTAVA project has always prided itself on its technology, using high-fidelity 3D modeling techniques to ensure that the virtual characters are "indistinguishable from real or virtual characters. This is different from the cartoonish style of their competitor Threedium, as well as Tangible and Barney, both selected as LV Venture Partners, who are strong competitors related to metaverse and virtual assets.

2.Subsequent development

The construction of the virtual ecology coupled with the TAVA token gives the holder a lot of authority and leaves a lot of room for the holder's imagination and creativity. Perhaps there is a chance to see ALTAVA become a trendsetter in leading luxury virtual fashion in the future, and also provide new income generating opportunities for many young fashion designers and startup brand owners. From the project's investment relationship and partners, it does have very good industry resources, and the focus of the subsequent development will be on the ecological development of the meta-universe and the commercial cooperation that supports multi-platform access.

Does the development of virtual assets ultimately have to serve reality? For ALTAVA, perhaps yes, by projecting the physical assets of the real world into the virtual world, and then allowing players to use their imagination to transform their own characters, operate their own land and create all kinds of virtual assets in the metaverse, the token income derived from them will eventually be reinvested back into the real enterprises as a continuation of the real world and mutual achievement.

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Tokenomics are a tool for aligning the incentives of participants in a network. It is extremely important to identify what behavior is required from each participant in an ecosystem in order for the network to achieve a virtuous cycle. Equally important is designing suitable token incentives that encourage the desired market behavior. There are many examples of poorly designed token rewards being exploited by people who want to maximize their short-term gain at the expense of the long-term health of the project. Farnam Street Media Inc. published an excellent article explaining three pre-cryptocurrency case studies where poor incentive design worsened problems instead of solving them.

Bootstrapping a Network Effect

Tokens are a powerful tool that can encourage ecosystem participants to behave in ways that would otherwise not happen before a critical mass of users is attained. Prior to the invention of cryptocurrency, network-related companies required massive marketing budgets to onboard a user base large enough for their network to start organically generating enough value to attract new users. Today, crypto projects can utilize token incentives to encourage users to behave in ways that improve the utility of the network and achieve a network effect. Andreessen Horowitz partner, Chris Dixon has a wonderful tweetstorm that explains this concept.

https://twitter.com/cdixon/status/1444072374798675970?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1444072374798675970%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Da19fcc184b9711e1b4764040d3dc5c07schema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fcdixon%2Fstatus%2F1444072374798675970image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fabs.twimg.com252Ferrors252Flogo46x38.png26key3Da19fcc184b9711e1b4764040d3dc5c07

For example, Snapchat would not have many active users unless people had their friends looking at their stories. They could use tokens to encourage users to continue creating content and onboarding their friends. Similarly, Uber would have very few riders if there were no drivers, and very few drivers if there were no riders. They could also use tokens to reward riders and drivers for participation or for referring their friends.

Ecosystem Incentives

Ecosystem Incentives are one of the most creative parts of tokenomic design. Examples of Ecosystem Incentives include:

1.Activity Rewards

2.Contributor Rewards

3.Liquidity Mining Rewards

4.Staking Rewards

5.Partnerships

6.Airdrops

Ecosystem Incentive tokens should be managed by a unique smart contract. This allows users to trust the code instead of trusting individuals to hold and distribute the Ecosystem Incentive tokens. This bucket should always have the largest share of tokens allocated to it within the token distribution. We recommend that the Ecosystem Incentive tokens be distributed over 5–10 years to ensure long-term viability of incentives.

Borderless recommends that the rate of Ecosystem Incentives distribution be linked to the protocol usage, for example by distributing more tokens when more transaction volume occurs on the network, and less tokens when less transaction volume occurs on the network. Examples of our favorite innovative models include Helium (HNT)’s Net Emissions, which ensures that the protocol will never run out of HNT tokens to reward hotspot hosts by distributing fees collected each period to the hotspots linearly over the next week, and Planetwatch’s Recycling Bin, which places all unmined tokens from each period into a bucket that is used to increase the number of participants eligible for future reward periods.

Value Distribution

Every protocol must define the method in which the protocol distributes value to its token holders. One of our favorite frameworks is what we call the Protocol Owned Treasury (POT), where fees earned are split between the treasury and developers of the project. Governance token holders control the assets in the POT, and can release them via the governance process. The assets on the POT provide intrinsic value backing each token. Governance tokens provide intangible value to token holders in addition to the assets in the POT. Thus, the governance token should trade at a premium relative to the value in the POT.

We often prefer the POT framework over models that distribute value outside of the protocol. Keeping the value inside of the POT allows token holders to maintain their existing share of the protocol by auto-compounding their investment. If value was distributed directly to individual token holders, then manual redeposit of distributions would be required to maintain the same position size. In addition, direct distributions often require increased accounting efforts for token holders.

We propose a novel value distribution method called Autonomously Provisioned Liquidity (APL), initially developed during a brainstorming session with Michael Cotton from Meld Ventures who implemented a version of this model on Algomint. Instead of burning the tokens earned by the protocol, the tokens are sent to the treasury and then paired with another coin (ALGO or a stablecoin) and added as liquidity on an automated market maker (AMM). This allows the POT to grow in value and generate yield while increasing liquidity for the project’s token. Automatically transforming treasury assets into liquidity for the governance token also eliminates the requirement to make the governance tokens directly redeemable for the liquidity in the POT, since token holders would always receive more value by selling their token on the AMM. In contrast to OlympusDAO’s protocol owned liquidity, APL does not require external market participants to provide their own liquidity to the POT. Instead, the POT itself is permanently providing its own liquidity.

Algorand’s native Atomic Transfer feature facilitates the APL model by enabling the protocol to make a token swap and add the proceeds as liquidity all in a single transaction. This eliminates the risk of the protocol getting front-run between the swap and the liquidity adding transaction.

Another popular model is the buy-and-burn model where the protocol uses transaction fees to reduce the total supply of protocol tokens, which (all else equal) results in a higher price per token because each token represents a larger percentage ownership of the protocol. We believe APL is superior to buy-and-burn because it utilizes Web3 tools such as AMMs to transform protocol fees into both a reduction in circulating supply, and an increase in token liquidity.

Multi-Token Models

For the vast majority of projects, we recommend only issuing one token. Multiple tokens make it confusing for the market to identify which token will accrue value and will often reduce the brand value of the protocol because there is no longer one clear way to invest in the brand. Usually, governance tokens should be the same token as the utility token. However, on some occasions it does make sense to have a separate token dedicated to activities that are temporary in nature.

Governance Token + Stablecoin is a common application of a multi-token model, with examples employed by GARD, Algofi, and xBacked. In these models, a governance token is used to distribute ownership of the protocol to its users, which boosts the protocol’s annual percentage yield (APY) while incentivizing governance token holders to stake their tokens for bonus rewards. This creates a virtuous cycle:

Governance Token + Certificate of Deposit Token is used by many DeFi protocols including Folks.Finance, Tinyman, and Humble to enable composability with other DeFi apps. In this model, protocols provide depositors with newly minted tokens representing their deposit, which can then be used as collateral in other DeFi apps, while the governance tokens allow participants to share the upside in the governance treasury coming from the DeFi protocol fees.

Fixed Supply Governance Token + Variable Supply Fuel Token is another multi-token model frequently used by play-to-earn (P2E) games. An example we helped design is Alchemon, which employs a hard-capped governance token (AlcheCoin) that controls the treasury and is earned by staking Alchemon aNFTs, and an uncapped in-game currency token (AlcheGold) minted during gameplay and burned to purchase power-ups and speed up waiting periods.

Circulating Supply

We have found that the market places a premium on projects that provide them with the ability to reference easily understood circulating supply forecasts for the token and we recommend creating a visual aid depicting the expected circulating supply until the coin is fully circulated. The circulating supply is primarily linked to two factors: the vesting schedules of the team and investors, and the Ecosystem Incentives.

For the vesting schedule, we recommend that the team cliff (i.e., the period of time before any tokens start unlocking) be 1.5x the length of the investor cliff, and the team vesting schedule be 2x length of the investor vesting schedule. This shows that the team is committed towards the long-term success of the network. After all, the team should consider their token one of the best investments available, and therefore should have no reason to want to reduce their exposure before their own investors can. Investors should be about 50% vested before the team vesting cliff kicks in.

Once the cliff is reached, we recommend daily vesting distributions instead of monthly or quarterly distributions. Large unlocks after long waiting periods may induce a Prisoner’s Dilemma because it incentivizes recipients to sell their distribution before other parties do in order to get the best price. Daily vesting eliminates this risk by allowing parties to sell a steadily growing portion of their total tokens at any time, so there is no FOMO to sell an unlock before others do. Algorand’s low transaction fees enable frequent token distributions at negligible costs.

Governance

We recommend designing the circulating supply schedule in a way that allows “team-aligned” tokens to maintain a majority of the voting power over the first two years of the protocol’s existence, and transition to true community-run governance by year three. Team-aligned tokens are usually those held by the team and strategic investors. These parties have dedicated a significant amount of time and effort towards the development and success of the protocol, and possess the insights and motivation required to make decisions that support the long-term health of the network.

Token Distribution

Most cryptocurrency projects begin with equity cap tables before a token is created. At the initial stage of a token project, it is often unclear the differences in how value will accrue in the equity versus the token (usually the vast majority of value accrues to the token). When creating a token, we recommend giving all equity owners exposure to the token instead of raising separate rounds for the token and equity. This aligns incentives between all stakeholders and prevents conflicts that can arise if parties only have exposure to one or the other.

Token distribution is different from traditional equity cap tables because there is no “unissued stock” that could be used at the company’s discretion. The entire token supply and allocations are defined at the public launch of the project. In contrast, companies with traditional equity can issue new shares which dilutes the ownership of existing shareholders. The industry standard is to allocate at least 50% of tokens towards the community. This effectively dilutes the amount of ownership that the team and investors are able to retain by at least 50%. For example: if the team owns 100% of the equity and releases a token with 50% of the supply allocated to the community, then the team has only 50% of the token supply.

Below are our token distribution guidelines:

Tokenomics is a highly innovative and increasingly significant field of research in the cryptocurrency industry. After all, bad tokenomics can destroy an otherwise great project. The insights shared above serve only as initial suggestions to enhance team decisions during the tokenomic design process. It is vital that each team customizes and fine-tunes these approaches to compliment the unique characteristics of their specific project. As such, the tokenomics experts at Borderless Capital spend significant time consulting with portfolio companies to ensure they launch with world-class tokenomics.

We hope that these insights are helpful to projects seeking tokenomics guidance and we look forward to hearing feedback from the community!

Finally, we would like to share a questionnaire we developed to help projects brainstorm their tokenomic designs. We have populated it using the Algorand blockchain as an example, but the questionnaire can be used to assist any project looking to launch a token. We have made it available for download here.

Borderless Tokenomic Brainstorming Questionnaire

Ecosystem/Network Questions:

Who are the ecosystem participants, what do they do, and why will they be attracted to your app or token?

How will the network or protocol earn revenue / collect fees / accrue value?

Currently the Algorand Foundation receives fees of .001 ALGO per transaction. Once the value of transaction fees becomes significant, the Foundation will engage with the community to decentralize the reward system incentives.

How does the protocol distribute value to the token holders?

The fees collected by the Foundation are redistributed back to the users via participation and governance rewards.

Explain your ideal Virtuous Cycle :

Example for BTC

How will the token help bootstrap a network effect?

1.Participation Rewards

2.Governance Rewards

3.Grants

What is the ideal equilibrium state once the network effect is established? How will the model work after equilibrium is reached?

Transaction fees are used to fund the infrastructure providers and Algorand governors.

How can the network or the protocol be governed?

1.Each ALGO has one vote on each governance proposal.

2.Currently, ALGO holders lock up ALGOs each quarter to be eligible to vote on proposals during the governance period.

Token Utility Questions:

How can people earn tokens?

1.Yield Farming of DeFi apps

2.Participating in governance

3.Receive via grant

4.Receive via investment

What can the token be used for?

1.Paying transaction fees

2.Buying aNFTs

3.Staking

4.Lending

5.Using as collateral to leverage

6.Creating smart contracts

7.Opting into new ASAs

8.Paying friends and vendors

9.Transferring between exchanges

10.Swapping for ASAs

Why will people want to hold the token?

1.To have liquidity available to participate in ASA opportunities on Algorand.

2.To bet on the continued growth of Algorand’s technology and ecosystem.

3.To deploy smart contracts on Algorand.

How will the token accrue value from the success of the project?

1.As demand to use Algorand increases, more ALGO’s will be required to be locked up since each wallet address needs to lock .1 ALGO per ASA it opts-in to.

2.Smart contracts require ALGO to be locked up proportional to the size of their application data.

Disclaimer:

The information provided to you in this post is for general informational purposes only and is not intended to constitute advertisement for the purposes of the Investment Advisers Act of 1940 or an offer or a solicitation of an offer under the Securities Act of 1933. Any offer can only be made by a delivery of offering documents to qualified prospective investors. None of the information is offered as nor should it be construed, as legal, financial or other advice on any matter. We do not undertake any obligation to update any of this information, especially information provided by third party sources and do not guarantee any level of performance. Past performance is not a guarantee of future results.

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Popular GameFi genres currently include Metaverse games, player-versus-player games, card games, farming games, mining games, NFT collection games, DeFi+GameFi type games, etc.

The following trends exist in GameFi today:

1.The transition from building a game economy around NFT to building a game economy around tokens.

2.GameFi adding more social attributes and increasing the connection with the community.

3.A greater focus of GameFi on picture quality and avatar image design.

4.An increase in the number of GameFi with Metaverse concepts.

5.More GameFi integration with DeFi gameplay.

6.The application scenarios of NFT in games have increased and mobility has been enhanced.

GameFi development status:

(1) Number of active GameFi wallets

1.The number of GameFi active wallets exceeds that of DeFi applications

In its Dapp Industry Report 2021, DappRadar states that since August 2021, the number of GameFi 7-day active unique wallets (UAW) surpassed DeFi apps. Since the end of September, the number of GameFi 7-day active unique wallets has remained consistently above 1 million, maintaining an overall growth trend.

2.Head GameFi Active Wallet Count

According to on-chain data, the top five GameFi in terms of number of active unique wallets in 2021 are Splinterlands, Alien Worlds, Axie Infinity, Upland, and MOBOX.

Of these, Splinterlands, Alien Worlds and Axie Infinity have more than 100,000 active unique wallets. The number of coin-holding addresses for these three games demonstrates the depth of user engagement.

As of April 20, Splinterlands (SPS) had 45,998 held addresses, Alien Worlds (TLM) had 97,757 held addresses, and Axie Infinity (AXS) had 375,000 held addresses.

(2) Number of GameFi users

DappRadar data shows that 12 games have more than 100,000 monthly users as of April 20. In other words, the average number of daily users of these games exceeded 3,000.

The top three monthly users are Alien Worlds (903,000), Splinterlands (566,000), and Upland (264,000). Combined with the data from 2021, the advantage of last year's top games in terms of user volume remains obvious.

Among the top 20 GameFi in terms of monthly user volume, the top three in terms of YoY growth are Sunflower Land (123,000 monthly users, up 7,714%), Color Craze (48,000 monthly users, up 3,603%), and Aavegotchi (52,000 monthly users, up 1,589%).

(3) Investment situation

1.Overall situation of GameFi financing

DappRadar reports that total GameFi-related investments by investment institutions in 2021 amount to $4 billion, 50 times more than $80 million in 2020.

Among the GameFi-related financing completed in 2021, seven financings exceeded $100 million. Forte, a GameFi platform, received $930 million, Sorare, a fantasy soccer game, received $783 million, and Dapper Labs, developer of NBA Top Shot, received $607 million. From the viewpoint of the subjects that received large financing, investment institutions prefer to invest in head GameFi developers and GameFi infrastructure.

2.Investment Institutions

Among the top 200 GameFi with monthly user base, more than 50 GameFi have financing information.

The top four GameFis in terms of active wallets in the last year, Splinterlands, Alien Worlds, Axie Infinity, and Upland, are all included in Animoca Brands' portfolio.

In addition to Animoca Brands, investment firms with a high number of investments in GameFi include X21, AU21, Binance Labs, Kardia Ventures, and DFG.

Top investment banks are making GameFi an important investment segment. a16z invested in Axie Infinity, ZED RUN, League of Kingdoms, Sequoia Capital India invested in Ethlas and League of Kingdoms, TCG Capital invested in ZED RUN, Crypto Unicorns.

Game guilds are also an important part of the investment lineup, with YGG, YGG SEA, Merit Circle, and Ancient8 showing more active investment performance.

GameFi Types

The current mainstream GameFi genres include Metaverse games, player-versus-player games, farming games, mining games, GameFi+DeFi games, etc.

Metaverse games: Games build virtual worlds for players, in which players can hold, build land, explore virtual worlds, socialize, exercise, and mine in the virtual world.

Player versus player game: Players participate in duels by using NFT characters, weapons, etc., and get the corresponding rewards while winning.

Farming game: Players grow crops and upgrade and synthesize them into goods to gain revenue.

Mining game: Players gain revenue by mining.

GameFi+DeFi games: DeFi functions such as liquidity mining, pledge mining and lending are added into the game, and players gain revenue by using these DeFi functions.

(1) Typical Metaverse games

The Sandbox

The Sandbox creates a virtual world for players, in which users can hold land and build land. The economic components of the game tokens include SAND, Land (Land NFT) and game assets.

SAND: ERC-20 tokens used in the game, which are the basis for all transactions and interactions in the ecosystem.

Land (Land NFT): Land is purchased by players to populate it with games, assets and interactive experiences. land is presented in the form of ERC-721 tokens (NFT). Game Assets: Tokens created by players who build/assemble User Generated Content (UGC). Assets are tradable on the marketplace using the ERC-1155 standard, and their primary use is as creation elements in a game maker.

Upland

Upland is based on a real-world map where players can acquire land, build land, interact with other players, and trade assets in the marketplace for income. Players can set visitor fees (visitors pay when they come to a player's land) as a way to earn a fixed income.

Land locations vary in price, and players can choose the right land according to the UPX they hold.

(2) Typical player-versus-player game

Thetan Arena

Thetan Arena is a multiplayer online tactical competitive game and battle royale game. When starting the game, the system will give the player a default character named Raidon, which the player uses to engage in completely free combat, and the player is rewarded with THC and THG for winning matches.

There are three types of game characters, namely tank, shooter and assassin, and players can choose according to the attributes of the character. The game's heroes and skins have rarity levels. Heroes are divided into normal heroes, epic heroes and legendary heroes, and skins are divided into default skins, rare skins and mythical skins.

Crazy Defense Heroes

Crazy Defense Heroes is a tower defense game in which players collect heroes, towers, spells and defense cards to form their own battle teams and use them to fight against monsters such as minotaurs, orcs and skeletons. Players can obtain treasure chests to unlock powerful cards and rewards to upgrade their warbands. The current way of playing gold is to earn experience value XP by playing the game and upgrading, then go to the official website to bind their game account and wallet, after binding the official will reward the player with the corresponding TOWER according to the XP value gained every month.

(3) Typical farming games

Sunflower Land

Sunflower Land was officially launched on April 7, players can earn SFL by holding land and farming on it. on April 15, the game launched the synthesis function, players can synthesize the resources they hold into new objects and put them on the market to earn revenue. In the future, the game will allow players to expand their land and get more NFT by farming.

(4) Typical mining games

Black Eye Galaxy

Black Eye Galaxy is a space-based mining game in which players buy planets and spaceship NFTs, mine the resources of the planets they hold, and trade those resources on the market.

(5) Typical GameFi+DeFi games

DeFi Kingdoms

The existing functions of DeFi Kingdoms include Swap, liquidity mining, pledge, purchase of virtual land, and selection of heroes to defend the garden.

Among them, Swap, liquidity mining and pledge are related to DeFi functions, and the three functions are built around the game's native token, JEWEL, which are transferring JEWEL tokens, creating JEWEL-related LP trading pairs to obtain JEWEL-LP tokens, adding liquidity to the garden to obtain JEWEL rewards, and pledging to obtain revenue.

NFT: a key component of GameFi

(1) NFT is an important component of GameFi

Among the top 200 games in terms of user volume, except for some small games, the vast majority of GameFi has issued NFT, which has different manifestations in different types of games. In Metaverse games, NFT is expressed in the form of land, resources (mineral resources, building materials, etc.), characters, goods, etc. In player-versus-player games, NFT takes the form of fighting characters, weapons, cards, gems, etc. In farming and mining games, NFT is expressed in the form of tools, outputs, etc.

GameFi has set up a secondary market for players to trade NFT assets, and players can put NFT assets (props, characters, resources, etc.) online in the secondary market and use game tokens to trade for other NFTs. for P2E mode games, holding NFTs with higher scarcity and higher comprehensive value is beneficial for players to get more rewards in the game.

(2) NFTs provide funding for game developers and players

Judging from the recent GameFi-related NFT offerings, the NFT offering time is earlier than the GameFi launch time. Take the recent NFT launch of Metaverse game Everseed as an example, the NFT launch has been completed and the game is expected to be launched in the second half of this year.

The NFT launch provides game developers with the opportunity to secure funding for development, gain an early player base and raise awareness of the game through the NFT launch.

Before the game is fully launched, the game developers build some gameplay around NFT to build a user base for the game launch and to get funding from it.

NFT is an important asset held by players in the game. Players can complete NFT transactions in the secondary market, accumulate NFT assets held and use them to find the time to sell them in exchange for funds.

Token: the support of game ecology

(1) Tokens are assets traded within the game

At present, there are two types of GameFi token economic models: single-coin model and dual-coin model, in which dual-coin model is to divide in-game tokens and governance tokens into two coins, such as Axie Infinity and BinaryX use dual-coin model.

Both single-coin and dual-coin models highlight the central position of tokens in the game economy. The following are the games mentioned in the "GameFi Types" section.

The Sandbox: SAND is the basis for all transactions and interactions in the ecosystem, and is the token needed to purchase land NFT.

Upland: Players use UPX to buy land, build land, trade assets, and pay visitor fees with UPX to access other players' land.

Thetan Arena: Players are rewarded with THC and THG for winning tournaments, which they use to trade assets, characters, etc. in the marketplace and use tokens to upgrade their characters and weapons.

Sunflower Land: Players earn SFL rewards by holding land and farming it, and use SFL tokens and game props that can be exchanged for more valuable NFTs, and use SFL tokens to buy seeds to continue farming.

DeFi Kingdoms: Three DeFi features Swap, liquidity mining and pledge are built around the game's native token JEWEL, players can trade JEWEL and get JEWEL tokens by providing liquidity.

(2) Token introduction and retention of players

The P2E model introduces players to the game through a token incentive mechanism, and a large portion of these players are blockchain newcomers. the threshold for understanding the P2E model is relatively low, and players are rewarded for achieving certain achievements in the game, and players aim to get more rewards and cash out or reinvest their tokens.

This model worked well in the early stages of GameFi's explosion, introducing a large number of new players and allowing players to play for gold and upgrade in the game.

During the development of GameFi, the simple play-earn-sell-tip made the user experience degrade and reduced the user stickiness of the game. GameFi mentioned above increases the application scenarios and functions of tokens in the game, enhances the mobility of tokens within the game, and creates a virtuous cycle of tokens in the game.

The number of users and the number of token-holding addresses are positively correlated from the top-ranked games in terms of user volume. The number of token-holding addresses of Splinterlands (SPS), mentioned above as the top-ranked game in terms of user volume, is 45,998, the number of token-holding addresses of Alien Worlds (TLM) is 97,757, and the number of token-holding addresses of Axie Infinity (AXS) is Axie Infinity (AXS) also has the highest number of coin-holding addresses with 375,000.

GameFi Play Evolution Trend

GameFi trends include the following: more DeFi gameplay, closer relationship between GameFi and the community, more emphasis on image quality and avatar design, and upgraded P2E mode.

(1) GameFi adds more DeFi gameplay

Among the top 200 GameFi users, the main DeFi games include liquidity mining, pledge mining, and DEX.

Adding more DeFi playstyles is an exploration of GameFi to build use cases around game native tokens. Out of 200 GameFis counted, 110 have released native tokens, with a 55% coin issuance rate. Under the P2E model, players earn tokens through the game, and these tokens can be traded through the secondary market, as well as through the game's built-in liquidity mining and pledge mining for more revenue. With the emergence of multiple GameFi plays, players can transfer assets between chains through cross-chain bridges that work with games.

With the growing importance of tokens in GameFi, GameFi needs to leverage the token economy to drive the game ecosystem and enhance the connection with players and the community, and the trend of convergence of GameFi and DeFi functions will become more and more significant in the future.

(2) Closer relationship between GameFi and the community

GameFi and NFT have strong social attributes, and players exchange GameFi information and gold playing strategies through social media, GameFi's own community, and game guilds. Therefore, GameFi developers pay more attention to the connection with social media, self-owned communities and game guilds.

Among the top 20 GameFi in terms of monthly users, 11 GameFi tweeters have more than 100,000 followers, accounting for 61.1% of the tweeting accounts (18). Twitter is an important information distribution platform for GameFi, and from the data of likes, retweets and comments, user feedback is generally good.

Among the top 20 GameFi in terms of monthly users, 15 GameFi have established Discord communities, and 5 of them have more than 100,000 Discord community members. Axie Infinity and Bomb Crypto rank the top two in terms of community members, with 720,000 and 309,000 respectively.

Head GameFi's Discord communities are positioned for information distribution and member communication. Taking Axie Infinity as an example, Axie Infinity's Discord community categories include content publishing, co-creation, marketplace, and public communication area, providing a platform for players to learn about the latest progress of GameFi, help optimize the community and games, and trade assets, bringing GameFi developers and players closer together and understanding players' demands more efficiently.

Game guilds are important gathering places for players, providing a platform for players to participate in GameFi and directly participate in GameFi's investment, so the relationship between GameFi and game guilds is very close. GameFi will provide early participation opportunities for game guilds, and new GameFi will actively cooperate with head game guilds before launch.

(3) GameFi focuses more on image quality and avatar design

GameFi image quality and avatar design show two trends: 1. GameFi scene setting is more three-dimensional, game modeling is more realistic; 2. avatar image from mainly 2D image to mainly 3D image.

1.GameFi scenes are more three-dimensional and the game modeling is more realistic

Among all GameFi genres, Metaverse games and player-versus-player games are the ones that do better in GameFi scene setting and game modeling. These two types of games have more player experience, interaction, and competitive activities, and require higher game development, and game developers try to provide players with realistic and immersive game experience.

Take the Metaverse game Cyber Dragon launched by BinaryX as an example, Cyber Dragon designs different adventure scenes, which are close to the real world, and the construction of jungle and castle gives players an immersive feeling.

2.The avatar image is changed from mainly 2D image to mainly 3D image

As the game modeling becomes more refined and realistic, 3D avatars are gradually taking the lead in the GameFi industry. Game developers add accessories, equipment, weapons and makeup to the avatars when designing the avatars, and shape the character's personality to make the avatars more three-dimensional and interactive.

(4) P2E model update and upgrade

P2E mode updates and upgrades are mainly reflected in two points: the game play enhances the correlation with tokens and lowers the threshold for players to enter the game.

GameFi gradually shifts from building games around NFT to building games around tokens, increasing the use cases of tokens in the game by adding DAO governance and DeFi gameplay, and improving the speed of token circulation in the game. As the value of tokens increases, players can get more derivative value from the rewards they get, realizing Play to Earn more.

GameFi has encountered the problem of high threshold and diminishing opportunities for new players to receive rewards during the development process. s gaming experience and facilitate further market expansion.

Evmos, if successful, will serve as a gateway for value from the Ethereum ecosystem into the Cosmos ecosystem. This is a big step towards an interconnected future for everything; combining the true interoperability of Ethereum and the Cosmos ecosystem will provide liquid access to most networks connected.

As a decentralized proof-of-stake blockchain in the Cosmos ecosystem. It is based on the Ethereum Virtual Machine (EVM), which means it is fully compatible with the Ethereum network.

Similar to Polygon, AVAX and Fantom, Evmos allows developers to deploy applications built for the Ethereum Virtual Machine (EVM). This allows developers to continue to build projects faster in different environments using the same language/tools they are familiar with.

But Evmos is more than just a Cosmos EVM, it extends the functionality of the EVM. It combines developers' familiarity with EVM with the ease of UX for native chain interoperability, which creates new use cases that would not be possible on any other chain!

For example, Evmos will not only allow users to transfer assets between Ethereum, other EVMs and any IBC-enabled Cosmos chain, but will also enable cross-chain contract calls, allowing dApps on Evmos to interact with dApps in other ecosystems.

This will be within reach in the future. We can imagine getting an Aave loan from OSMO, or having a Curve pool of multi-chain stablecoins, such as DAI/UST/FRAX. sure, it sounds like a pipe dream now, but Evmos, makes it all easy.

Evmos will be the gateway to interoperability between Cosmos and Ethereum users, bringing the two ecosystems together for mutual success. However, at this time, this level of interoperability and common success incentive use cases between these two ecosystems is not yet seen.

We may see many blue chip tokens deployed on Cosmos immediately after Ethereum releases an update, and Evmos has the potential to be a catalyst for the lightning-fast expansion of the Cosmos ecosystem.

Airdrop

Like other Cosmos projects, Evmos has followed the default Cosmos tradition. The airdrop, called "Rektdrop", was distributed to victims of Rug and users who used up large amounts of Gas on some of the Ether projects, in addition to those who pledged tokens on the original Cosmos.

Token Economics

At token launch, 200 million tokens will be airdropped, representing 40% of the initial supply (Rektdrop). The other 60% is dedicated to the community pool and strategic reserve, which will serve as a gas pedal for the Evmos ecosystem.

Another 300 million tokens will be issued in the first year, which means that Evmo is highly inflationary. Inflation will decline year by year on an exponential decay schedule. This is similar to half-life, like the physical half-life. 05577f20f9d35f205717eb4060c6b4d.png

After 4 years, Evmos will end distributions, after which token holders can vote on further distributions or a cap on token issuance.

As with other Tendermint and Cosmos SDK chains, if you decide to pledge, the tokens will be locked for 21 days.

Cevmos

Cevmos (Evmos + Celestia) in short, is that Cevmos will build an optimal settlement layer for Roullups on EVM. rollups do not have to compete with Non-Rollup transactions for Gas, thus reducing costs and having better scalability. This will bring more value to Evmos.

TLDR

Many people are bullish on the Cosmos ecosystem, but naysayers want to know how Cosmos will attract other ecosystem builders and users. If you think the solution to this problem is shared incentive for ecosystem collaboration rather than ecosystem competition, then Evmos may be the answer for you.

Cosmos is committed to becoming the "Internet of blockchain", and the development path of mainstream public chains (such as BSC and Avalanche) shows that the status of the online blockchain network within the Cosmos ecosystem is particularly crucial to its development. Through Cosmos SDK (a modular framework), Cosmos supports developers to easily build proprietary application chains (called zones in Cosmos) for Dapp. By accessing IBC (Interchain Communication Protocol), the application chain can interoperate with other chains in the Cosmos ecosystem that have access to IBC, thus building the Cosmos multi-chain ecosystem.

According to the data of Map of zones, a website that counts the application chains of Cosmos ecology, this paper PANews researches on Cosmos ecology and finds that

Cosmos ecology has taken shape, and the network of application chains connected through IBC in the ecology has reached 38.

The application chains integrated by Cosmos ecological IBC involve about 12 segments, covering DeFi, connecting DeFi and CeFi, Web3, social, smart contract public chain, NFT, privacy, cross-chain, infrastructure and memecoin.

DeFi field

Osmosis

A network that supports developers to develop cross-chain AMM, while it has gone live on Cosmos ecology's largest DEX Osmosis.

Link to the project website https://osmosis.zone/

Terra

A platform that supports users to mint algorithmic stable coins. Currently, the main products of this ecology are LUNA-based stable coin protocol, Mirror Protocol, a synthetic asset trading platform, and Anchor, a savings protocol.

Link to the project website https://www.terra.money/

Kava Network

Combining the flexibility and speed of ethereum smart contract development with the interoperability of Cosmos SDK in a single network, aiming to build a thriving, scalable network of dapps for developers.

Link to the project website https://www.kava.io/

Injective Protocol

A decentralized, two-tier derivatives trading protocol that allows individuals to create and trade without a license on any derivatives market of their choice.

Link to the official project website https://injectiveprotocol.com/

Sifchain

Designed to be a chain-wide solution for DEX to enable on-chain access to liquidity for all cryptocurrencies.

Link to the project's official website https://sifchain.finance/

Sommelier

Aims to be an assisted processor for DeFi traders and liquidity providers.

Link to the official project website https://www.sommelier.finance/

Microtick

is a decentralized price prediction machine with pricing data originating from the short-term options market.

Link to the project website https://microtick.com/

Connecting the DeFi and CeFi domains

COMDEX

An ecosystem designed to democratize finance and connect DeFi and CeFi, including synthetic asset services, Tokenization of real-world assets, and lending services.

Link to the project website https://comdex.one/home

Persistence

A multi-asset protocol focused on liquid pledges, NFTs and commodities, designed to stimulate global asset liquidity and enable value exchange.

Link to the project website https://persistence.one/

e-Money

The protocol is a platform built for issuing a series of stable coins backed by real-world interest-bearing currencies (such as the Euro), designed to bring traditional banking systems into the blockchain world.

Link to the project website https://e-money.com/

Kichain

is a network launched by Ki Foundation to connect private investment platform Klub and DeFi, aiming to be a bridge between traditional finance and DeFi.

Link to the project website https://foundation.ki/

Dig chain

A network that aims to Tokenize or NFT fragment real assets (e.g. real estate) to enable more ordinary people to participate in investing.

Link to the official project website https://digchain.org/

Web3 field

LikeCoin

A public chain tailored to content distribution for licensing content ownership, authenticity and provenance.

Link to the project website https://about.like.co/

Starname

A service that provides users with customized and personalized usernames in the crypto industry. Users can set their own names in the crypto industry (similar to Web2 social media usernames), and each starname can be bound to the user's wallet address.

Link to the project website https://www.starname.me/

Sentinel

A network of standalone dVPN (Dynamic Virtual Private Network) applications designed to support organizations and individuals around the world to build cost-effective, scalable and decentralized network solutions using Sentinel.

Link to the project website https://sentinel.co/

Akash Network

A decentralized cloud computing network designed to provide developers, projects and enterprises with an efficient and cost-effective alternative to decentralized cloud services.

Link to the project website https://akash.network/

Bostrom

A pioneering network for the Cyber Network, providing a series of decentralized tools for users in the Web3 world by using a P2P model.

Link to the project website https://cyb.ai/

Cheqd

Aims to build a credible and authentic data economy.

Link to the project website https://www.cheqd.io/

Social impact field

Regen Network

An ecological conservation network focused on the detection and regeneration of the Earth's ecology, supporting other projects and protocols to build and leverage climate-focused business models on top of it.

Link to the project website https://www.regen.network/

BitCanna

A network that provides decentralized payment services and supply chains for the legal cannabis industry through the token BCNA.

Link to the official project website https://www.bitcanna.io/

MediBloc

Aims to create a patient-centric health data ecosystem that protects personal privacy and maximizes the reliability of health data by developing a high-performance blockchain network for the exchange of health data.

Link to the project website https://medibloc.com/en/

IXO

Dedicated to using Internet technology to promote global social, economic and environmental sustainability.

Link to the official project website https://www.ixo.world/

Altered Carbon

Altered Carbon is a carbon emission related platform deployed on the eco-protection public chain Regen (carbon trading, land trading), aiming to reduce the cost of carbon trading and increase the transparency of trading.

Link to the project website https://alteredcarbon.earth/

Infrastructure

Cosmos Hub

It is the hub of Cosmos ecology, aiming to connect different application chains to build a multi-chain ecosystem.

Link to the project website https://cosmos.network/

Shentu Chain

Designed to provide end-to-end security solutions for blockchain, decentralized applications and other software applications.

Link to the official project website https://www.shentu.technology/

Fetch.ai

An artificial intelligence and machine learning based blockchain platform that enables better autonomous systems through big data and AI technologies.

Link to the official project website https://fetch.ai/

Vidulum

A one-stop cryptocurrency platform that supports users to actively manage their crypto assets from anywhere and on any device.

Link to the official project website https://vidulum.app/

Cross-chain field

Gravity Bridge

Supports ERC-20 token transfers between the Ether (ETH) and Cosmos blockchains.

Link to the project website https://www.gravitybridge.net/

IRIS Network

A cross-chain network similar in structure to Cosmos, designed to support the integration and collaboration of off-chain computing resources using blockchain technology to support interoperability across heterogeneous blockchains.

Link to the project website https://www.irisnet.org/

Axelar

A network supporting multi-chain interoperability, connecting all blockchain networks, assets and programs within the ecosystem through a common set of protocols and APIs, designed to support developers in building multi-chain dapps.

Link to the official project website https://axelar.network/

Social field

Desmos Network

Dedicated to be a development platform for decentralized social networks, solving the problems of censorship and privacy breaches caused by centralized social networks.

Link to the project website https://www.desmos.network/

BitSong

A platform that empowers the music industry with a decentralized ecosystem that provides a marketplace for the global music community to trade on music streams, fan Tokens and music NFTs.

Link to the official project website https://bitsong.io/

Smart Contracts Public Chains

Juno

An underlying network that mainly hosts smart contract applications and maintains the neutrality of Cosmos Hub by deploying the use of smart contracts to a designated contract area.

Link to the project website https://www.junonetwork.io/

Cronos

The EVM smart chain launched by Crypto.com, a well-known centralized exchange, is the first network built on Cosmos SDK technology that is compatible with Ether.

Link to the official website of the project https://cronos.org/

NFT field

Stargaze

A cross-chain NFT marketplace with a simple upload process, low transaction fees, and other features, secured by deployment on a sovereign chain of over 100 verified nodes.

Link to the project website https://www.stargaze.zone/

Privacy field

Secret Network

The first smart contract public chain with privacy protection, by supporting the encrypted input, output and encrypted state of smart contracts to achieve privacy protection of sensitive data on the chain.

Project website link https://scrt.network/

Memecoin Chain

Chihuahua

Cosmos ecology's first blockchain network to issue memecoin, which can interoperate with more than 30 Cosmos chains through IBC protocol.

Link to the project website https://chihuahua.wtf/

Exchanges Chain

Crypto.org Chain

A high-performance network launched by Crypto.com, a well-known centralized exchange in the industry, is similar to the Cronos chain compared to the Coinan chain and BSC, which is compatible with EVM.

Link to the official project website https://crypto.org/

Although Cosmos ecology has taken shape, most of the blockchain network is still in the early stage of development, and the number of Dapp on the chain is small and limited in function. In the future, PANews needs to continue to pay attention to the ecological development of each application chain within Cosmos ecology, please download the APP and pay attention to the author's continuous attention.

Axie Infinity:

Axie Infinity is a decentralized turn-based strategy game built on the Ethereum blockchain, initially on the Ethereum main chain, but later migrated to the self-built Ronin sidechain due to high gas costs and latency issues. The main carrier is web side, the developer is Vietnam Sky Mavis, which has experienced two rounds of seed funding, totaling $1.5 million, and was selected for Ubisoft Startup Lab in June 2020.

The gameplay is traditional card battles, in which pets are collected for battle, with both PVP and PVE modes. Although aixe is ostensibly about collecting pets, each pet has 4 skills, each skill is a card, and each battle can only bring 3 pets. After the game, you can use the SLP (which is also a tradable Token) to hatch new Axie. 10 days - several months.

According to the user journey, users must first buy NFT pokemon in Ethereum, the threshold for entry is 3 Axie; only then can they start playing in-game and get SLP coins through activities, matchmaking.

Among them, completing daily tasks to get 50slp; PVP battles reward different amounts of SLP according to the number of trophies, and will float dynamically (no SLP below 800, 800-999 - 1 SLP per victory, 1000-1099 - 3 SLP per victory, 1100-1299) -per win 7 SLP, 1300-1499-per win 8 SLP, 1500-1799-per win 9 SLP, 1800-1999-per win 10 SLP, 2000-2199 -(11 SLP per victory, 2200+ - 12 SLP per victory), up to 100 SLP in PVE mode (levels 1-4: 1 SLP per victory; levels 5-9: 2 SLP per victory; levels 10-14: 4 SLP per victory; levels 15-16: 6 SLP per victory. (Level 17-20: 6-10 SLP randomly per victory; Level 21-36: 10-20 SLP randomly per victory),

and AXS can be earned through ladder rankings (500 to 12.5 AXS for the top 300).

SLP can be traded on the exchange and consumed in breeding and upgrading; AXS are mainly used for breeding or selling. In the reproduction process, each Axie has a maximum number of reproduction, up to 7 times, and the mother cannot reproduce with the offspring; each reproduction requires the consumption of SLP and AXS Token, where the consumption of SLP will increase with the number of reproduction, so as to increase the reproduction threshold of Axie and ensure that the growth rate of Axie will not be too fast.

Each Axie has a dominant gene and two recessive genes for each of its 6 parts, with the dominant gene being the dominant part (determining values and skills).

Each part of a new Axie will randomly inherit any 1 of the 3 gene entries from the part of 2 Axis with the sum of the probability of inheriting the entry from both Axies.

In addition to being sold in the market, Axie can also earn rewards by participating in daily active tasks, which can reduce the probability of Axie being sold when the price of Axie drops; this adjustment mechanism is only effective within a certain range, if the price of Axie is so low that the breeding income is less than the breeding cost, the demand for SLP will be reduced rapidly, and the reduced demand for SLP will lead to a lower profit margin for users This will further reduce the enthusiasm of user participation, thus forming a death spiral. As well as SLP and Axie are unlimited output, which in itself also brings a certain degree of inflation, which is probably why the Axie team plans to go online in 22 years to play MMO + business class to further retain users.

Illuvium

Introduction

Illuvium is a role-playing game that combines NFT collection, nurturing, and battle, and is expected to go online in the first quarter of next year. The background of the game is that you are exploring space in a spaceship, the result of accidentally crash landed on a planet, the planet called Illuvium, there are many gods and beasts, named Illuvials, the official translation for the Iru beasts. So, you become the explorer and hunter on this planet, you need to capture these Illuvials, incorporate them into their camp, and upgrade your Illuvials through PVE and PVP battles to make them more valuable.

Game Highlights

This game has several highlights, one is that it is a Unreal Engine based 3D masterpiece game of 3A level, the exquisite degree of graphics and smooth operation will be much higher than some games now; another is that it is based on immutable x's layer 2 network, so trading NFT is not required to pay the gas fee In addition, from the investors' lineup, it is still relatively strong, with some well-known institutions and individuals, as well as the cooperation of the YGG union; finally, from the player's point of view, it is a game that does not require an entrance fee, so everyone can play for free, together with the liver, and even have the probability to get some very rare NFTs.

Gameplay

Capture

The core of this game is capturing Eru Beasts and incorporating them into your lineup to play against the computer or real players, and then upgrading your Eru Beasts to increase their value. Capturing Iru Beasts requires something like a genie ball. You need to mine resources from the planet's surface, use those resources to synthesize a genie ball, and then play against computer-controlled Iru Beasts, and once you've defeated them, you can use the genie ball to try to capture them.

Iru Beasts

Iru Beasts are the relatively highest value NFT in this game, as the game mechanic is that the more players capture, the less likely Iru Beasts are to be captured overall. After players have captured Iru Beasts, they will join your squad and help you to fight wild Iru Beasts. There are three types of Iru Beasts, the first is the rarity, divided into 0 to 3 levels; the second is the attributes, including water, earth, fire, nature, air, the five departments, there are restraint between the attributes, for example, the fire Iru Beasts can cause extra damage to the natural Iru Beasts, which will add some playability to the lineup configuration; the third is the occupation, Iru Beasts have five professions, respectively, the warrior, guardian, thief, psychic warlock and empath. The third is the occupation, Iru beasts have 5 professions, namely, warrior, guardian, thief, psychic warlock and empath, this set is actually similar to the general automatic card battle, or chess game, that is, you need to arrange their station according to the attributes and occupation of Iru beasts, to better play their ability.

Versus

The game's battles are still mainly PVE, that is, players capture Iru beasts, form a more powerful lineup, and then go to defeat and capture the more powerful wild Iru beasts. The game also provides PVP mode, that is, you can take your lineup to compete with other real players, but the reward mechanism of this system is not very clear, it is estimated that it may be a ladder ranking system, and then regularly give some rewards to the top players so.

Other NFT

In addition to the Iru Beast, the player-controlled character is also involved in the battle, and you can synthesize the character's weapons and armor from the resources mined on the planet's surface. These weapons and armor are NFT, so you can also go to the game's exchange to buy better ones. There are also some in-game skin NFTs that you can also spend money on to make your weapons ah armor ah a little more cool.

Currency Model

The game involves 3 currencies, ETH, FUEL and IVL. ETH is used to buy and sell NFT on the game's exchange, FUEL is used for kryptonite and completing some economic actions within the game, and IVL is purely a community governance coin that has nothing to do with the game play. $FUEL can be purchased with ETH and can be used for kryptonite, such as giving quick healing to the Illu beast after it is injured, paying to synthesize better sprite balls after mining the planet's resources, transferring instantly on the planet's surface, etc. These economic actions can speed up the player's growth progress, so of course they need to be paid for, and these fees become one of the game's sources of income. Another source of income is that when players buy and sell NFT in IlluviDEX exchange, they need to pay 2.5% handling fee.

The fees for trading in IlluviDEX are ETH, which will directly enter the game's vault; the $FUEL Token paid by the previously mentioned Kryptonian play will be converted into ETH through a pool of ETH and FUEL and then input into the game's vault. The vault will periodically exchange ETH for IVL on Sushiswap to give dividends to IVL holders and pledges to staking holders. 10 million IVLs will be issued in total, with 2 million already issued for financing, 1.5 million for the developer team, 1.5 million for the vault, and 1 million to start the project. Players can currently earn the remaining 3 million through yield farming, and then a total of 1 million will be given to players as a reward when the game is officially released next year.

Infrastructure

The game's transaction infrastructure is imx layer 2 sidechain, the biggest highlight is that players do not need gas fee, and the transaction can be completed within 400ms on average. The game engine is based on the unreal engine, the same one used to develop fortnite. The network service is based on Amazon AWS. Finally the game has a technology that optimizes the graphics.

Make money

The game is really zero threshold in theory, but first of all, if zero threshold, it is difficult to capture the advanced Iroquois; on the other hand, as the number of captures increases, the Iroquois as a whole will be more difficult to capture, so free players and players who join later may be more difficult to liver. If you want to make money at this stage, you can consider buying IVL Token and pledge it; or you can go to opensea and buy some developer's NFTs, such as some peripheral stickers, badges, and the kind of 4D hollogram, etc., which may also appreciate after the game's popularity is further increased.

Aavegotchi

Overview

Aavegotchi is a pet-raising game developed by the team at Pixelcraft Studios

Each Aavegotchi is a small ghost living on the Ethereum blockchain, essentially an NFT using the ERC721 standard.

The gameplay is similar to Tamagotchi's (Takumakako, the electronic pet game) pet raising, with the goal of raising the player's favorite ghosts

Core gameplay

Aavegotchi farming

One of the main purposes of Aavegotchi farming is to compete for rarity/experience/intimacy of Aavegotchi by participating in the rarity ranking, and the top 100 winners of each "season" will share the token pool. Of course, this reward does not cover the cost of raising Aavegotchi, and players are mainly after the honor of ranking.

The overall value of an Aavegotchi is determined by 5 main indicators: rarity, intimacy, rank, ghost wave, and pledged assets, with the first three being the most important ones.

Rarity

The rarity of an Aavegotchi is determined by the values of 6 traits, namely AGG = Attack Value, NRG = Energy Value, SPK = Scare Value, BRN = Brain Power, EYS = Eye Shape, EYC = Eye Color.

Aavegotchi's characteristics are determined when the portal (the device that hatches Aavegotchi) is opened. Characteristics are classified as "Common", "Rare", "Rare" or "Mythical".

Each characteristic of an Aavegotchi is not higher, but more extreme (0 or 99). Extreme values mean characteristic strengths and correspond to higher rarity scores, while mid-range ability values mean mediocre performance and correspond to lower rarity scores.

Players can purchase equipment to increase or decrease certain characteristics of Aavegotchi, thus increasing the rarity of aavegotchi. For example, equipping a sword may increase Aavegotchi's aggressiveness, while equipping a Bob Marley shirt may decrease its energy level. Therefore, high rarity equipment is also very valuable. In addition, the equipment also has a decorative role and a role in distinguishing identity.

Intimacy value

Each Aavegotchi's intimacy value starts at a fixed 50 at birth and increases or decreases depending on other factors, currently the main way to increase intimacy is by interacting with the owner every day and buying intimacy potions.

The rule of interacting with the owner is to "touch" him once every 12 hours to increase 1 point, and every 24 hours without "touching" will deduct 1 point. Therefore, Gelato has developed an automatic Aavegotchi robot to replace the manual interaction with Aavegotchi.

The intimacy potion, which provides 210 intimacy points, can be purchased in the mall.

It is worth noting that intimacy can be used for subsequent Gotchiverse mining, so high intimacy Aavegotchi are currently the focus of players' cultivation.

Experience Value

Aavegotchi can level up by gaining more experience through voting in AavegotchiDAO and participating in mini-games; for every three levels an Aavegotchi gains a soul point that can be used to increase or decrease a trait.

Currently the most important way to gain experience points is by participating in community events (lectures, voting).

Aavegotchi Trading Prices

Gotchiverse

Gotchiverse is an open world built by Aavegotchi offering a variety of mini-games, still in development and expected to go live in late December 2021 or January 2022.

The core gameplay of Gotchiverse is resource mining + mini-games, where Aavegotchi holders can mine minerals and build buildings (houses, defenses, warehouses, etc.) on land (called Realm), while free players take on the role of Liquidator and compete for the minerals on the land. two parts.

The Gotchiverse is a vast area of land with three different zones: The Citaadel (castle), The Grid (grid), The Beyond (area to be explored)

The Citaadel is the home base of the Aavegotchis in the Gotchiverse and is not invaded by the liquidator. In return, it receives a small portion of Alchemica.

The Grid contains everything outside of the Citaadel and is much richer than the world of the Citaadel, but at the same time lickquidators are lurking around every corner and Aavegotchi players need to build walls and towers on the land to defend against lickquidator attacks. Aarena is the Aavegotchi-oriented arena in The Grid, where Aavegotchis with high enough psychic power can battle each other for their opponents' psychic power in an epic battle royale. lickquidators head to Phantastic Grounds for a shooting game.

The Beyond. The corresponding game content will not be unlocked until 2023.

Resource Type

Gotchus Alchemica (ERC20 Token) is the main resource on the Gotchiverse and consists of four types of elements: Fud, Fomo, Alpha, and Kek. They can be combined to create devices (Installation, which has a practical use), decorative items (Aesthetica, which is for decoration only), and other items. Specific item functions and resource consumption are still under development.

TokenTotal Supply

FUD-100,000,000,000

FOMO-50,000,000,000

ALPHA-25,000,000,000

KEK-10,000,000,000

Resource acquisition method.

Mining: Once Aavegotchi builds a mining device and a warehouse on the land, Alchemica will begin to passively accumulate, with some of it going into the warehouse, some overflowing to nearby maps, and some going into the Great Portal. this may be the primary method of resource acquisition in the future.

Gathering: Aavegotchis and lickquidators can roam the map and collect Alchemy that has overflowed from mining.

Alchemy channeling: Aavegotchis can channel their energy directly into the land, using affinity for Alchemica.

Public channeling: Aavegotchis can also channel Alchemica en masse when a Gotchi Lodge facility is built on the land.

Land type

The total supply of Gotchiverse lands (Realm) is 420,069. an initial 155,069 Realm will be unlocked and distributed over two years, including the Citaadel and Grid areas. The remaining Realm is currently hidden in an area called The Beyond and will be unlocked thereafter to provide a new gaming experience.

The lands are divided into three sizes: Humble (88), Reasonable (1616), and Spacious (32*64) and contain the following resources.

Of all the lands, Humble accounts for 40%, Reasonable for 40%, and Spacious for 20%, but since Spacious is 32 times the size of Humble and 8 times the size of Reasonable, it contains 76% of the overall system's resources

Land Offerings

Two rounds of land auctions have been completed.

On November 2, 2021, Aavegotchi completed its first land auction, selling 14,000 lots valued at $2.3 million, followed by a land lottery the week after, which distributed 6,000 lots.

On December 9, 2021, Aavegotchi completed its second land auction with 7,000 lots sold, followed by a lottery with 3,000 lots to be awarded in the following week.

At this point, the Citaadel area is almost sold out, and a third land auction is expected to take place before the game opens, featuring the sale of land in The Grid. Observations on land values.

The land in the Citaadel area will not be disturbed by liquidator, so it is an excellent location for mining and will enjoy a premium in the future (compared to The Beyond and The Grid).

Humble land is currently worth around 90GHST ($210), Reasonable land is worth around 185GHST ($440) and Spacious land is worth around 1200GHST (2832), with larger land being cheaper based on resource volume.

Only the land closest to the central area enjoys the central premium, the rest of the land value is more average.

Gameplay evaluation

Low paying players can get Lickquidator for free and without cap through airdrops and other means, and pick up resources on the land. The game is designed to promote cooperation between Gotchi and landholder players through unbalanced adversarial mechanics, and to attract new players with Lickquidator as a free player channel, creating a strong intra-game competition. competition.

Governing Tokens

In Aavegotchi, there is a relatively well-established economic system, with key elements including Token, NFT assets, exchanges, etc.

Token: GHST (~$2.60/each)

GHST is intended to be the basic ecosystem currency for purchasing various on-chain Aavegotchi assets. These assets include portals, Aavegotchi, gear, consumables and collectibles, and other commodities. In addition to this, GHST has several other features, such as pledge mining and DAO voting.

Infrastructure

Underlying public chain: The game is built on the Ethereum sidechain Polygon (Matic).

Token exchange.

Stable coin exchange: using DAI, a stable coin provided by MakerDAO

Decentralized exchange exchange: using the Quickswap exchange (DEX on Polygon)

Cryptocurrency pledge: Use Aave (decentralized lending protocol) to pledge BTC, ETH, USDT, etc. into Aave's deposit agreement.

Benefit methods

Cultivating Aavegotchi.

Players "touch" Aavegotchi every day to increase their intimacy and participate in community events to increase their experience value, thereby increasing the price of Aavegotchi.

Purchase land for mining.

Players can buy land now, build devices to collect Alchemica resources in the future, and sell them for profit.

Town Star

Manufacturer: Gala Games

Development Team. Town Star is a farm management game developed by the co-founders of Zynga, which previously developed the popular farm game Farmville.

Platform: Browser

Genre: Simulation

Not only the first game developed by Gala Games, but also the first farm management game in the GameFi space.

In the world's first playtoearn town builder built by Gala Games, players use NFT ingame items to complete Daily Challenges and gather TownCoin rewards!

Players will select land and build towns on a virtual planet, trade and earn stars through farming and merchandising. In the current beta phase, the top 100 players in each season will be rewarded with GALA Token. It should be noted that Town Star is a centralized game in the test phase, and all points and coins in the game are not on-chain Tokens.

The Weekly Competition in the first row belongs to the competition zone, and the top 500 players will be rewarded $750,000 per week; the Free in the second row belongs to the recreation zone, where new players can get familiar with the game rules and the attributes of various products, and then go to the competition zone after accumulating enough experience to earn high bonuses. Click "JOIN" on the right side to enter the game after selecting the region.

Game flow

is a weekly farm game, this development stage is very similar to the real world, agriculture, animal husbandry, industry, manufacturing, etc. The system forces you to enter the next industry by adjusting the production rate.

Designing towns and designing the most efficient production to get the most stars.

Stars are related to the number and amount of trades you make, i.e. the number of times a car is driven out to sell something is proportional to the price of the item bought; the prices in this world do not change, and it is an ideal economic model for an extremely short period of time.

star the first 100 players will be rewarded VS the past is the experience value of the first 500 to get 7510000 knife reward.

lasts for a week except the start time is different the duration is the same, like an examination in a different time and space.

Play flow

At the beginning, the world map will be selected

3 types of terrain (desert, forest, plain) * 4 types of orientation * distance from the big city * surrounding environment.

The system will give you 25000 initial money and 40 barrels of gasoline after choosing the land.

the capacity of the car is 10, the capacity of the warehouse is 20.

Plains are suitable for farming

the method I use is more consistent with the vast majority of online methods, cane economy breakers, because sugar cane is a more expensive crop, the production of sugar 31,500 yuan, it is easy to save money to do the fuel system, the challenge is to restrain yourself, because each cane production at least 4 minutes, limited by the production of wood and the speed of cutting and transport of sugar cane

restraint in the course of the game, many times expensive goods take longer to produce and have to wait, so do not waste gasoline in selling cane unless the money is going to run out and workers are consuming it all the time.

The cane economy is divided into three strategic stages

Sell sugar cane, wait for 2325 barrels of gasoline left, start building sugar factories and storage, start producing sugar, because sugar costs 31,500 for 10 barrels, which is much more expensive than sugar cane at 4,000 for 10 barrels, so only sell sugar to save gasoline

When there are 1315 barrels of gasoline left, prepare to build the oil system, which requires more than 80,000 dollars, which is about the amount of sugar sold 3 times

When the oil system is built, the countdown to death is already cracked, and the rest can be freely explored to see which strategy is the most efficient, because different geographical endowments cause differences in future means of production, and when the oil crisis is cracked is the time to freely explore.

Interesting point: can fully use the player's own small wisdom, in 16 * 16 square blocks of earth, set up a variety of agricultural, pastoral, industrial or infrastructure to establish a dynamic operation of the economic system and earn revenue from it, if the game is played well, it means that the player's own business ability is certainly not low, at least have a big picture.

How to participate: It is completely free, unlike Axie where you have to buy digital assets or install a client, you only need to register an account and you can play directly on the web, which is very convenient.

Token: Token -- TownCoin Token will be the official P2E reward Token for the block GameFi play "Town Star"; TOWN coin issue date is 20211029, issue price is $0.1709, issue maximum supply is 100,000, 000,000 TOWN.

TOWN is a reward Token earned by playing games/charging yourself.

TOWN STAR PRICE CHART

NFT: Release date is 20211111, a play-and-earn model that allows players to own tradable blockchain items through farming, and these NFT props can be used in conjunction with other items in the game.

Access

Some can be purchased through GALA, ETH, BAT and Coinpayments.net (like most items in the GALA game store).

Some can only be purchased through TOWN.

Benefits: daily TOWN rewards for using NFT.

NFT Introduction

Storing props.

With such limited space (16 x 16), storage is always an important part of the game. In order to create higher level items, higher capacity storage props may be needed to prevent taking up a lot of space in the town. So far, there are several storage building NFTs online in the store that can be used to store different crops. These storage NFTs can completely replace silos that can only store basic crops. Below are the available storage buildings, each with 4 different capacities. The higher the rarity, the higher the P2E bonus obtained.

grape storage silos - salt bar storage silos - wheat storage silos - sugar cane storage silos.

Production acceleration props.

These buildings are also known as "Farm Stands" farm shelves. Generally speaking, these buildings provide passive resources to surrounding buildings. These are now more than just farm stands, of which a few examples will be given below.

Wheat Stands - provide wheat passively to surrounding buildings, the higher the rarity, the more wheat is provided.

Sugarcane racks - passively provide sugarcane to surrounding buildings, the higher the rarity, the more sugarcane is provided

Water towers/alpha fountains - passively provide water to surrounding buildings and fields, the higher the rarity, the more water is provided

Solar panels - (three rarities) passively provide solar energy to surrounding buildings.

Haunted House Shard - Any 1 of the 6 shards passively provides oil to the surrounding refinery. The main tower provides the largest area of oil with a radius of 3. The haunted house porch produces pumpkins at regular intervals in addition to oil, and the headless gardener delivers them to the nearest silo.

Tesla Coils - Like solar panels, Tesla Coils can passively provide energy to the surrounding buildings, but they have the added advantage of producing energy at regular intervals. In addition, the production of this energy does not cause pollution like other power plants.

Little robotic helpers.

From robots responsible for building houses and transporting items, to the extremely rare ancient farm robots (whose use in the game has not yet been revealed), these cute little Town Star robots are everywhere in Gala Games' ecosystem, and even the most dedicated collectors will have a hard time getting to all of them.

Farm robots-unknown;

Lifting Robot-This upgraded builder moves three times faster than the game's construction workers;

Pixie Robot-This robot was originally released as a holiday referral bonus for harvesting and delivering all sugar-related crops and products.

Salt Bot - Originally released as a recommended bonus in early 2021, this bot is able to assist in the production of all salt-related crops and products.

Mr. Bucket - Mr. Bucket is able to assist with all water facilities in the town and can now only be purchased in the store with TOWN.

Skins.

Mirandus Theme Series Special Edition Skin Sets feature 5 skins of different buildings in each of the 10 unique sets. Each skin is an NFT that can be transferred or traded.

Each set contains a special Dragon Voucher (Dragon Voucher). Collect 10 Dragon Vouchers and you will become the owner of Mirandus' dragon.

Difficulty: how to break the economic deadlock, the starting will give the player 25000 funds, 40 barrels of gasoline, if within 40 barrels of gasoline, you can't supply yourself with gasoline, the game can't go on, because you can't buy gasoline inside the store. Farmers, lumberjacks, architects and car drivers need wages, so the initial funds will be used.

The mode of strategic game: at the beginning, you have to calculate how to operate, where to place what, how to make maximum use of your resources; secondly, you have to make good use of the resources, and at the beginning, you have to grab the land in the world map, and in fact, every terrain has its own advantages.

Because of the different terrain resources, so the possibility of strategic layout of each player is also very different, economic resource consumption forced players must make better use of resources. This challenge inspires players to keep trying various things, and it feels great to turn disadvantages into advantages and keep opening their brains to layout.

Properties of each part of the game.

Skyscraper icon of the city: the farm output is needed to sell supplies to the city, too far from the city will result in the consumption of too much gasoline, but also affect the time for the settlement of funds back.

Each time the driver or crew will consume gasoline, once the player can not establish a fuel production system before the fuel runs out, the farm production of more goods can not be sold, the farm economy will fall into a deadlock, immediately Game over; by the mountain to facilitate the development of the steel industry and wine industry; by the water to facilitate the rapid development of the cake industry, etc..

Town star game producer - Gala games

Goal: making blockchain games you actually want to play.

Gala Games is a gaming platform that uses blockchain technology to focus on the fun of games, introducing a variety of game genres, including MOBA, simulation, RPG, tower defense, strategy, etc., and will co-develop games with multiple game makers. Its first game Town Star is currently receiving more attention and praise.

Design concept

The concept of Gala Games game platform is "fun first", its not using simple games to prove the usability of blockchain, but using blockchain as the underlying layer to build top-notch games, the audience for which is the players of traditional games. Players on the Gala Games platform can not only experience the charm of game masterpieces, but also have full control of their game assets (using NFT to represent game assets such as characters and props) through the empowerment of blockchain, while also earning revenue with their gaming skills in GameFi.

On the decentralized level, Gala Games introduces a node ecosystem where users can run nodes by purchasing node licenses to participate in the decentralized governance of the platform and receive GALA Token and NFT rewards.

Game ecosystem: Gala Games is both a game developer and a game aggregator/game store, attracting other game makers to launch their games on the platform in addition to the games developed by the Gala Games team (which need to be approved by the nodes' votes). Gala Games will generate standardized crypto kits, NFT libraries and wallets so that other game makers can integrate them into their games and enter the Gala Games ecosystem.

All games in the Gala Games ecosystem can issue NFT props, and users can use three types of Token - ETH, GALA, and BAT - to purchase props to gain additional bonuses in the game, equivalent to the traditional in-game purchase mechanism.

When users play on the Gala Games platform, they can register directly with their email address and use it as their game account, and they will also be asked to save their helper words. Currently Gala Games has 5 games planned.

Skyweaver

Game Type

Card battle game where you can own, exchange and give away your own cards. Each player controls a hero who fights against enemy cards, and wins a game when the opponent runs out of lives, and loses when he loses all his lives.

Basic information: The game is developed on Polygon, no Token is currently issued, but Gold and Silver cards are tradable digital assets NFT, and currently the game cards only accept USDC payments. In terms of buzz, 1.7w Twitter followers and 80k members on discord. Total funding amounted to $13.25M. The development team is Horizon Blockchain Games, a block GameFi play studio that has developed the Ethereum ecology's web3 wallet platform in addition to Skyweaver, and the game's lead planner was also the game planner for Marvelous. Led by Reddit co-founder Alexis Fund and executive producer

Game economic model

Player: play against each other à earn cards (NFT) à buy and sell, similar to a small stock exchange market, there is a price difference between buy and sell, the system earns the price difference, generally the fewer cards the higher the price

Gamers: earn the price difference between buying and selling (7% fee) and admission tickets

First of all, there are 3 types of cards in this game, namely Basic, Silver and Gold (common, silver and gold), of which only gold and silver cards can be traded and common cards are not traded. It is worth noting that the only difference between the three types of cards in terms of function is that the Basic card is a purple box, the Silver card is a silver border, and the Gold card is a gold border, and there is no difference in their function when playing against each other, but you will respect when you see that your opponent is holding a Gold card, which is also because the only way to get a Gold card in the Beta test is to win three games in a row in Conquest mode!

5 game modes

Tutorial to get started, only the first 4 levels to get familiar with the game

Practice for practice, you can play in it to 15 levels

Private against friends

Conquest arena, you need a ticket Ticket to enter, the ticket is 1 silver card or 1.5 USDC (not yet issued Token, players can only pay USDC through the game internal market to buy game cards), but generally a silver card value will be more than 1.5 USDC, so the advice is to either directly charge, or to sell the card after spending 1.5 USDC to enter. In Conquest mode, if you win one game in a row, you will get 1 silver card, if you win two games in a row, you will get 2 silver cards, if you win 3 games in a row, you will get 1 gold + 1 silver, no matter you win or lose, you will have experience value. Once you lose or have won three games in a row, the game is over!

RanK is a free version of Conquest, no Ticket is needed, but there is no way to get gold or silver cards by winning the game, only experience to upgrade. Every time you upgrade, you get at least one free card, which means you can always get a free card if you play Rank for free.

Gold and silver cards to get a summary of the way

Silver card: Conquest win at least 1 game + Market buy and sell + weekly competition mode (each week to see who gets the most points, the top 500 can get the card)

Gold card: Conquest win three games in a row + Market buy and sell (this is why it will respect, because the Beta closed beta mode states that it has passed at least three levels, Beta only gives 50 DAI = USD, but to buy the gold card may take 8000 + USD, so there is no way to get it)

Market operation mechanism.

To start the Skyweaver economy at soft launch, Horizon will provide an initial supply of 40 cards per silver card starting at about 1.5 USDC each, and will also provide the market with 25 cards per gold card starting at about 10 USDC will provide the initial liquidity first

How is the price of the cards determined? Automatic market maker AMM model (to ensure that the product of two numbers is constant), according to the demand to match the price, when buying and selling is not a direct transaction with the counterparty, is sold to the system

Eg:1010=100; 911.11=100, you must spend 11.1110=1.11 to buy

The cleverness of the game design

The scarcity of gold cards: only 8 gold cards will be generated every week, after this week, these 8 gold cards will not be generated again. The number of cards generated depends on the number of people who can win three games in a row, and every time you win three games, you will randomly get one of the 8 gold cards, not immediately give you the gold card, but after a week of unified printing and distribution. On the official website is to see which 8 gold cards, as well as the release time countdown. This is also to encourage players to come in early and play more Conquest mode.

This mechanism will give everyone the belief that there are only a limited number of cards of each type, but if the money keeps coming in, the gold and silver cards I have now will definitely increase in value in the future, so I am more willing to spend time, effort and money to play Conquest mode to win gold and silver cards. It seems to tell everyone that although you may start out as a poor loser, you can have your own assets and become rich in the future as long as you play every game with ok cards + some luck. My question so far is that there are a total of 500 cards in the library, 8 cards per week, that is, a year and 10 weeks, basically all the cards will be rounded up, the official said that there may be other card art form, but the specific how has not been disclosed yet

How to participate in the game

A lot of GameFi may enter the participation way tens of thousands of dollars, or to buy land / buy horses and so on, but this game is completely zero participation way, even if you do not want to spend a penny to buy gold and silver cards, you can also play Conquest mode. Even if you don't want to spend 1.5 USDC to buy tickets to play Conquest mode, you can always play the free Ranking mode, and you can also experience all kinds of cards, which plays a good role in expanding the user base!

Excellent graphics, mobile, PC, web can play, no need to download the client on the computer, very smooth, and do not need to buy NFT props, zero investment can play

Infrastructure

On the Ethereum sidechain Polygon (Matic)

The development team designed the Web3 Ethereum wallet Sequence, Skyweaver is actually an application built on the Sequence wallet, which can trade Token and display the collection of NFT. The existing Internet user habits are preserved, so you can log in and retrieve passwords with accounts such as Google or Facebook

Niftyswap is based on Uniswap, a protocol for automatic exchange of Tokens on Ethereum, Uniswap is used to trade fungible assets such as ERC20 Token, while Niftyswap is a protocol for items (ERC1155 Token). Both are designed to promote ease of use and facilitate efficient transactions

Star Atlas

The current Gamefi games are generally weak, so I think there is a lot of room for future development, and the "Play to earn" model is also in line with future game trends.

At the same time, it seems that the future of block GameFi games is shifting towards playability, and Star Atlas is a very eye-catching project.

Star Atlas is a massively multiplayer online role-playing game.

Background: In the distant future, three factions have emerged in the galaxy, competing for resources, territorial conquest, and political dominance.

Players can join the factions, directly influence the course of the Metaverse, and earn real-world income through their contributions. So I'll expand on exactly how they are earned later.

Star Atlas combines a variety of advanced technologies such as blockchain, real-time imagery, multiplayer video games, and decentralized finance to work on building the next generation of the game Metaverse.

In addition to the white paper, the game also collaborated with an economics expert to write a paper on the economic model (which can be viewed on the official website) that lays the foundation for the game's economic operation, laying out a blueprint for a fully Token-driven, fully autonomous Metaverse economy. So it is clear from this that the development team has tokenomics well in mind.

In terms of infrastructure, Star Atlas runs on the Solana public chain and trades through Serum, while using Unreal Engine 5 (Unreal Engine 5), which has strong technical support for development.

All the progress will be announced in discord and notion, because now look down to invest or now decide to play the game's biggest risk is that the final product will not be finished, when the finished product (because the more backward push may encounter more GameFi 3A masterpiece), while the finished product how the degree of completion (because it has given the market a lot of hype)

Back to the game itself, the design aspects from the current new art material, the overall look and feel of the video is still very good. Its tube network is very beautifully done, the picture is really a movie level

The game's economic design is wonderful.

First of all Star Atlas core is 4 types of assets.

Monetary assets.

Star Atlas has two types of Token, which provide the power for all activities

ATLAS

Game circulation coins

Uses: Can be used in the game, all expenses and income will be paid in ATLAS, e.g. buying NFT in the in-game market, refueling the ship, repairing machines, etc. all require ATLAS payment

POLIS

Governance Token (analogous to Equity in traditional finance) Use: Used in various governance levels, representing the pledge share in the game, the voting rights in the DAO where the pledge is located, and the control rights of the metallic library (Treasury). The first element is the medium of exchange, the vehicle is representative of the double-dual agent system represented by two agents

The system of land

Use: Land is an important production resource for the entire game, and it is necessary to have land and resources for its production. Features: the addition of land tax

In-game items

Uses: These items are needed for economic activities including exploration, and different airships. The crew has different uses and specialties, such as combat, cargo, etc.

In-game resources

Uses: resources are used for production, etc.

Not NFT, but homogenized assets

Three main lines of economic system

The first main line is production, the second main line is exploration, and the third is top-level governance DAO

The three interact with each other, firstly, its production serves its exploration, and at the same time some resources and equipment obtained from its exploration continue to serve production in turn, as well as its service for further exploration.

At the same time, for the long-term development of the game ecology, DAO has the duty of maintaining a steady inflation of the economy like a central bank, by modifying taxes or controlling the circulation of money to maintain

Production

Production also includes mining, synthesis technology

Needs raw materials, electricity, technology, which is a simulation of the real world production elements

Accordingly, mining, synthesis, and capex are needed to build buildings and equipment to enable production.

Exploration

So what do you do with what you produce? Exploration, combat, which is the core of our role-playing game as a massively multiplayer online universe

The consumption scenario for this piece is predictably rich

Combat exploration requires a lot of materials, equipment, and personnel; war is known to be a huge drain on the economy

Brainstorming: pacifists will play this way, those who want to make money doing business will play how, and this complex system lays the foundation for accommodating diversity

Governance at the top

This piece is also very interesting in that it has a system designed to govern whether the land will be used effectively, by adding a land tax, which is really a virtual world at first hearing

All land can only be owned and leased, to protect users from eviction or discrimination for renting land. To discourage speculation - where a market agent buys land and only holds it with the intention of profiting from its appreciation and therefore not putting it to use - the game applies a land value tax. The amount depends on the land level (the higher the land tax rate, the higher the land tax rate), and the top-level DAO can be adjusted for global-level restrictions. This mechanism provides dynamic protection against speculation and keeps the value of the land in balance with the potential productivity of the land

If the landowner does not pay taxes, the land will eventually be repossessed and auctioned off, and all buildings on it will then become unusable (but will not cease to be taxable). After a further period of time, the repossessed land will be auctioned off by the local governor, and after taxes and penalties are paid, the remaining funds will be returned to the original owner.

As a test case, some areas could implement a *Harberger tax instead of a governor-driven land value tax. A theoretical tax system, based on two main principles.

There is a fixed tax rate set by the governing party. The landowner defines the value of his or her land and uses that value to calculate the tax due.

Any market agent can purchase land at any time from the original owner at the value set as the tax base by that owner

Game Phase Planning

The game development team had the dream of creating the first 3A level GameFi, but the development cost of Star atlas was much higher than other GameFi, so the development team wisely divided the game's development into five phases.

OpenSea Asset Sale ( Done)

The project will first put some of the in-game assets on OpenSea for sale, and the assets bought by players will be used in the second phase. At the same time, players' assets can also be transferred to the Solana chain through the SolanaEthereum bridge, which is not a difficult step, as long as the economic model is built.

Web Minigames (Done)

The web minigame serves as the minimum viable product of Star Atlas, where players and collectors can use or trade game assets. Although simple, it is a key step to the success or failure of the game: on one hand, it needs to be developed as soon as possible to maintain the heat and grab players' attention with other GameFi; on the other hand, if the quality is neglected for the sake of catching up, messing up the word of mouth will seriously affect the subsequent development of the game.

The mini-game was originally planned to be released on July 24, and it went online on December 16.

This signifies that the game development difficulty of Star Atlas is far more than initially expected, and there is a possibility of skipping in the future, but it is worth looking forward to.

Dock components for sale

The smooth release of the web mini-game is only the first step. To meet the various cool effects within the game

The whole game will be developed based on Unreal Engine 5, on which many mainstream games are now based, such as "Fortnite". The first part developed based on Unreal Engine 5 is the Dock module. In this mode, players can view their final in-game assets and use these assets in the dock of their chosen faction.

Final Pre-Sale Public Beta

Star Atlas will be developed in this phase, at which point all assets purchased by the player will be available for use in the game.

Ongoing Sale

The project team will continue to develop new material and create more assets for the game. Players will also be able to trade these assets, and the project will receive a fee from the transaction. The new sourcebook may be "Battle for Redemption". Players can bid on relevant game assets in the game, similar to a blind box, until the bid is successful and players will know what assets they got.

Infrastructure

Solana

Solana is a high-performance blockchain that does not employ sharding and is probably the most efficient public chain available.

With a core innovative Proof of History consensus mechanism (PoH), it can introduce a time system that no other underlying technology can do, encoding time (proof of history) as data to sort transactions, so it does not need to communicate with each other to complete consensus like other public chains.

For the first time, it uses GPU parallel processing mode, while all other blockchains are single-threaded, Solana is the only multi-threaded blockchain that can parallelize transfers.

Fast transfers with throughput up to 65,000 TPS and block-out times of about 400 ms

Very low, negligible cost per transaction

Solana is not compatible with the Ethereum Virtual Machine (EVM) and is not as easy for developers to migrate as BSC and Heco. Solana is more scalable and centralized, so it sacrifices some security.

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That is, until GSC Game World, the Ukrainian company behind the game's software, announced last month that the new STALKER will include crypto-based assets called irreplaceable tokens or NFTs. in the new game, GSC says, players will be able to buy and sell NFTs for items such as clothing for in-game characters. the company claims the move is a step toward the virtual world known as the metaverse The company declared the move a "transformative step" toward a virtual world known as the metaverse.

Lantz was outraged. He joined thousands of fans on Twitter and Reddit who opposed NFT in the sequel to STALKER, a game maker they said was just trying to squeeze more money out of players. The strong opposition allowed GSC to quickly turn the tables and abandon the NFT project.

"The studio abused its popularity," said Mr. Lantz, who lives in Ontario. "It was clear that this was done for profit, not just to create a pretty game."

For more than a year, the crypto industry has been in a frenzy. The value of cryptocurrencies like bitcoin and ethereum has soared. crypto-based assets like NFT have taken off. twitter founder Jack Dorsey recently renamed one of his companies Block in honor of blockchain, a distributed ledger system that powers digital currencies. melania trump auctioned off her own NFT. supporters hope Blockchain will revolutionize industries from finance to social media to the arts.

But for some, the crypto craze has gone too far, too fast. Skeptics argue that cryptocurrencies and related assets like NFT are digital versions of Ponzi schemes, with prices artificially inflated beyond their true value. Some question whether the nebulous concepts of cryptocurrencies and blockchain have any long-term utility.

Nowhere is this more unpleasant than in the gaming community, where users are increasingly at odds with major game studios like Ubisoft, Square Enix and Zynga over crypto. In many encounters, gamers are getting the upper hand - at least for now.

"People are embracing buzzwords," says Mutahar Anas, a gamer and YouTuber blogger with 3 million subscribers. Those pushing NFT in the game, he says, are "trying to sell you the cure-all.

In recent months, at least a half-dozen game studios have revealed plans to add NFT to their games or said they are considering doing so, providing proof of authenticity and ownership through digital assets verified by blockchain technology. Game makers say this provides gamers with unique digital items that can enrich the online marketplace for those selling NFTs. Game publishers say it's also possible that NFTs could be transferred between games in the future, meaning items from one game franchise could affect the gameplay of another.

But gamers say they see the moves as a blatant cash grab.

"I just hate that they keep finding ways to rip us off in any way possible," said Matt Kee, a 22-year-old gamer. kingdom Hearts said it is moving forward with NFT. "I don't see anywhere that mentions how this benefits gamers and how it I don't see anywhere how this is going to benefit gamers, how it's going to improve gameplay. It's always about, 'How do I make money from this?'“

Much of their discontent stems from the encroachment of microtransactions in games. For years, game makers have found more ways to profit from users by making them pay to upgrade their characters or level up their gameplay in games. Even when people have paid $60 or more up front for a game, they are being asked to pay more for digital items, such as costumes or weapons for their characters.

In one famous incident in 2006, the role-playing game "The Elder Scrolls IV: Oblivion" charged users $2.50 for a set of armor for their character's horse.

"'It was only a few bucks, but I remember thinking, 'Why didn't they give us horse armor?'" said Eric Hild, a 31-year-old beer brewer from Decorah, Iowa. "'Why are we being made to pay for this?'"

Merritt K, a gaming anchor and editor for the gaming industry website Fanbyte, said gamer hostility toward these companies has increased over the past decade, in part because of the growing number of microtransactions. So when game makers introduced NFTs as an added element to buying and selling, she says, gamers "were ready to blow these things out of the water."

In December, Sega Sammy, the developer of Sonic the Hedgehog, expressed reservations about its NFT and encryption plans after a "negative reaction" from users. Ubisoft, which makes games such as Assassin's Creed, said it misjudged the level of customer dissatisfaction after announcing its NFT plans last month. More than 90 percent of viewers disliked a YouTube video about the move.

"Maybe we underestimated the intensity of the backlash," said Nicolas Pouard, Ubisoft's vice president in charge of the French company's new blockchain initiative.

The gaming company said their NFT initiative is not motivated by profit. Instead, they say NFT offers fans some interesting collections and a new way for them to make money by selling their assets.

"It's really about community," said Matt Wolf, an executive at mobile game maker Zynga, who is leading the move into block GameFi plays. "We believe in giving people the opportunity to play to make money."

The craze to embrace crypto in games has intensified over the past few years. Some developers have started building games on the blockchain that allow players to easily collect digital assets and prove they own them. One such game was CryptoKitties, a 2017 hit in which players collected digital cats, some of which sold for more than $100,000. Blockchain-based games like Axie Infinity, in which players earn and sell NFTs to make money, have also become popular in the midst of the New Crown epidemic pandemic.

Bigger game studios are now trying to get in on the action, though some of their crypto plans remain ambiguous.

Ubisoft is the first major game publisher to dip its toe into the crypto waters. Last December, it announced a program called Ubisoft Quartz, which launched three sets of NFTs in the form of digital devices such as helmets and guns. the NFTs are available for free in the shooter Ghost Recon Breakpoint for players who reach a certain level in the game. Gamers can keep the items or sell them on third-party marketplaces, the company said.

Mr. Pouard said that 10,000 digital wallets have connected to the Quartz platform so far, although Ubisoft has only minted 3,000 NFTs in the first batch, which he said indicates interest in more NFTs in the future.

Pouard added that Ubisoft eventually plans to take a share of future NFT sales. "We're moving from a business model that focuses on games to one that focuses on an ecosystem where every player can be a stakeholder," he said.

Zynga, which will be acquired by Take-Two, hired gaming industry veteran Mr. Wolf in November to lead a crypto effort. the goal, Mr. Wolf said, is to create new games on the blockchain that will make it easier for players to acquire, own and sell NFT. he offered few details about how the effort will work, including whether NFT can be transferred between Zynga games .

"We're still developing it all," he said.

Other gaming companies have also dabbled in NFT, echoing how the cryptocurrency is creating new wealth for users. This month, Square Enix president Yosuke Matsuda wrote in an open letter that creating block GameFi plays would allow players to make money. He said it would be a "major strategic theme" for the company.

But as the number of NFT announcements from game studios grew, players became increasingly irritated. After users objected to Sega Sammy's encryption plans, one of its executives said at a management meeting last month, "If this is perceived as simply making money, I want to decide not to proceed."

Other gaming companies have come out against cryptocurrencies. Microsoft Xbox chief Phil Spencer told Axios in November that some games centered on making money through NFT seemed "exploitative" and that he would avoid putting them on the Xbox store. Microsoft declined to comment.

Valve, which owns online game store Steam, also updated its rules last fall to ban block GameFi games that allow the exchange of cryptocurrency or NFTs. Valve did not respond to a request for comment.

Tim Sweeney, CEO of Epic Games, maker of the game Fortnite, said his company would avoid using NFTs in its own games because the industry is rife with "all kinds of tricky scams. (Epic will still allow developers to sell blocks of GameFi plays in its online store.)

This backlash affects more than just game studios. Discord, a popular social platform for gamers, backed down in November after users threatened to cancel their paid subscriptions through the crypto program, and Discord's CEO Jason Citron sparked a rebellion when he poked fun at the project on Twitter.

"While I'm optimistic that a lot of cool things are happening in the blockchain space, there are a lot of problems," Mr. Citron said in an interview.

Gamer Mr. Kee said he will continue to fight crypto efforts by gaming companies. He said the STALKER developers' shift on NFT makes him wish other companies could be influenced by public opinion.

"It gives me a good feeling that everyone is against this," he said. "We've seen all kinds of these kinds of plans over the last 10 years, and we're tired of it."

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Q2 2021, GameFi has taken over from DeFi as the target of investor competition. The "Play to Earn" economic model designed by Axie Infinity explored a viable solution for the GameFi circuit, and many developers began to compete to emulate the dual-coin mechanism and incentivize players to participate in GameFi Gold-Farming. As of today, Play to Earn is still the most effective pass mechanism for GameFi.

2020 Misconceptions

Back in early 2020, a number of analysts and investment managers talked about the viability of GameFi. At the time, Tracy was a self-righteous Analyst who believed that the decentralized network would never run fast enough to support a full gaming experience, even with a "Play to Earn" reward mechanism. As the reward pass diluted, game participation was bound to decline rapidly. In hindsight, I was wrong about that.

First of all, it was not thought that the combination of NFT and Game could lead to a completely different logic. Moreover, in the dual-pass model, developers could take advantage of the Gold-Farming payback cycle. In addition, the game asset confirmation and transaction lease can be realized in the public chain, and the game experience can be completely solved by the centralized network. Linear extrapolation and lack of open-mindedness will make us miss opportunities, which is not desirable in the blockchain industry.

GameFi explodes in 2021

In Q2 2020, "DeFi Summer" arrives as promised, with peer-to-peer pool trading meeting the trading needs of users in a decentralized world and the AMA trading curve providing pricing for long-tail assets. This brought about the maturity of the on-chain financial system, and participants' needs for liquidity were continuously met during this phase. Lending, aggregators, prophecy machines, derivatives, etc. followed.

After DeFi and Bitcoin were fully priced by the market, GameFi and NFT became the focus of the market in 2021. Industry innovators are looking to NFT and Game tracks, including GameFi Axie Infinity, which started in Southeast Asia with a "Play to Earn" game mechanic that combines game characters with non-homogenized passes to give gamers This new approach has changed the valuation logic of NFT. More importantly, GameFi offers participants the opportunity to "Gold-Farming", attracting a large number of game users with a very short payback period.

According to Token Terminal data, Axia Inifity's daily revenue rose from $40W/day in Q2 to $800W/day in Q4, a 20x increase, and Axia Infintiy's game characters became the highest-volume NFT on Opensea.

The biggest difference between decentralized games and traditional games is that game assets belong to users, governance rights are vested in the DAO, and the Gold-Farming revenue platform is shared with users. The new model means that users' rights are highly tied to the game. When a large number of users come together, Guilds (guilds) are created.

Guilds function as market makers for games in the Play to Earn gaming ecosystem. Directly speaking, Guilds are the source of liquidity for GameFi, and it is with Guilds that games have a steady stream of users, active NFT transactions, and the initial demand for token trading. More importantly, it can do marketing, recruit players, train users, and provide rental services for players who do not have enough principal to buy game characters, thus having a very important significance in GameFi's industry ecosystem.

The majority of GameFi guilds are currently concentrated in Southeast Asia, where there is a strong demand for "Play to Earn" due to the epidemic and the large number of cheap laborers who have lost their jobs. assets and reward tokens, and are the most representative Beta in the GameFi circuit, with a significant position.

In summary: GameFi's position vis-à-vis the decentralized world is different from DeFi. DeFi protocols based on trading and lending meet the needs of users for liquidity in the blockchain world. Because of protocols such as Uniswap and Compound, the circulation of passes becomes faster, which is a prerequisite for innovation in the industry . GameFi and NFT are meeting the more complex spiritual needs of users, whether it is Axia with Gold-Farming benefits or Punks representing symbols, which means the crypto world is starting to enter the next phase.

Problems with GameFi in 2022

At the end of 2021, the problems of GameFi ecosystem were exposed, such as over-valuation of games, excessive fluctuation of Reward Token Price, and poor gaming experience. Time comes to 2022, the GameFi track starts to look a bit crowded, and the defects of Gold-Farming mechanism are slowly revealed.

1.Excessive financialization and insufficient game value: Games are essentially an economic world, behind which are countless players in the balance of value and experience realization. In GameFi, players buy NFTs (game characters) hoping to Gold-Farming for revenue; project owners hope to obtain funding by issuing passes. If participants want to "Play to Earn" for a "gold standard" return, then someone has to make the "gold standard" investment. Most GameFi's in the market attract players with a very short payback cycle, and it is difficult for the economic world behind them to achieve sustainable prosperity if no one is willing to pay for a real gaming experience.

2.Over-issuance of NFT and devaluation of revenue passes: Decentralized games are different from traditional online games in that both the right to use and ownership of game characters belong to users, and the development of the game is highly tied to the rights and interests of users. In fact, the moment players spend ETH to buy game characters for admission, they assume the most important risk in the game (the exposure to NFT assets). In the absence of external capital inflow, the capital return cycle and NFT / Reward Token preservation cannot be achieved simultaneously. When NFTs are first offered for sale, the very short payback period makes participants rush to buy them, and as the price of NFTs is inflated, the barrier to entry is raised and the payback period is lengthened, which seriously hinders user growth. The project will lower the price of NFTs by increasing or promoting NFT multiplication. If developers want to keep the game's payback cycle, each time the NFT price rises, the supply of multiplication passes and NFTs will increase, resulting in an over-issuance of NFTs and Reward Token. In the case of Axie Infinity, the price of Reward Token (SLP) is very weak compared to Governance Token (AXS).

3.The lack of interconnectivity between games is a far cry from Meta: In 2022, the Metaverse is the hottest topic in the crypto world, and GameFi games are expressing their Metaverse characteristics in their promotions. single game plays an important role. Also modular, instrumented NFTs or tokens are not present. The reason behind this is that a "Play to Earn" based economic model, where developers need to constantly balance the price of NFTs and reward passes to attract users by modifying the game's setup, is tantamount to closing the possibility of interaction between games. This is because controlling the inflow and outflow of funds is relatively feasible in a closed economy. As mentioned above, Play to Earn is a good way to attract users, but not a cornerstone of the game's long-term development. Perhaps the Metaverse, which belongs to GameFi, will emerge only when GameFi has a real sense of gaming value.

Game economic model analysis

In GameFi's setup, character ownership belongs to users, and developers need to set up a pass model that matches the game mechanics in order to achieve a benign game. We selected three popular games in the market to analyze their economic models and found their design strengths and weaknesses.

DefiKingdoms: Death mechanism to avoid NFT over-issuance

DefiKingdoms is a MMORPG with a single coin mechanism initiated on Harmnoy. the NFT hero has four attributes, each corresponding to a different profession and play style: minging, gardening, foraging, fishing, and the four play styles correspond to a very different risk-benefit ratio, such a setting can satisfy players This setup can meet the multiple needs of players for Gold-Farming rewards. Compared to the single Play to Earn model, DefiKingdoms offers different modes for players and a more flexible revenue curve for users.

Token: $ JEWEL

1.$JEWEL: Fixed supply of tokens: players use JEWEL to buy useful in-game items and NFTs. heroes can also earn JEWEL by participating in Gold-Farming. it costs JEWEL to maintain stamina, breed heroes and get stamina potions. Users can also pledge JEWEL to receive a share of the game's revenue.

Conclusion: In the game's setting, users need to spend JEWEL to buy heroes to participate in the game, Gold-Farming cycle also need to pay a certain amount of JEWEL to do physical replenishment. In the specific setting, the JEWEL consumed in NFT battles will be linearly increasing, and each hero is set to participate in the game for a maximum number of times, so that the game NFT has a decay cycle and death mechanism, thus avoiding the hyperinflation of NFT brought by over-issuance.

However, since players pay JEWEL to buy heroes, the non-gold standard entry method makes it more difficult to control the game, and when there is a massive influx of users, the NFT price will be raised, and the pressure of benefiting players will be borne by the platform pass, which will increase the selling pressure of JEWEL and further worsen the NFT price. Although DefiKingdoms has designed many features to achieve soft locking of JEWEL, it cannot compensate for the disadvantage of single coin mechanism: it cannot control the payback period and reproduction cost at the same time, i.e. it cannot adjust the ratio between NFT and Reward Token at the same time.

Defi Land: "DeFi + GameFi" to meet the multiple needs of users

DeFi Land is a farming game launched on Solana in the estate farming category. Unlike Farmer's World, Defi Land did not build the game world from scratch, but chose to centralize the Dapps from the Solana ecosystem into the game. The developers wanted to introduce users to the Defi world by way of a game. In the game, users can borrow through Bank and trade through Market, besides, Defi Land makes some tricky designs to provide gambling, farming, governance, NFT trading and other functions.

Tokens: $DFT, $GOLD

1.$DFT: Fixed Supply Pass: DFLs are required to make and trade NFTs and building upgrades, and a portion of DFTs can be earned by winning games, plus pledging DFTs to share in the proceeds from the sale of NFTs in DeFi Land.

2.$GOLD: Variable supply tokens: players earn them by participating in Gold-Farming.

Game mechanics: buy NFTs through DFT, upgrade them, and get GOLD rewards for Gold-Farming. From the operational point of view, the project owner can control the payback cycle of the game by controlling the DFT/GOLD ratio, and there are many types of NFT in DeFi Land: heroes, pets, fishing rods, cows. These items need DFT to be purchased, and the food and potions they produce can be used as "stamina potions" for the heroes to fight. Conclusion: Defi Land adds the mechanism of DeFi to the Play to Earn, so that the financial needs of players in the game world can be satisfied, which helps to enhance the playability and stickiness of the agreement, and helps to form user retention. In addition, the game's function setting is not single, besides Play to Earn there are other ways to play, such as gambling, prediction, farming, etc. The double coin mechanism exists, but its position in the operation of the game is weakened, so that it can unite Guilds to provide liquidity for the game, but also can take into account the multiple needs of users, which is conducive to enhancing the life cycle of the game.

In addition, some projects do not announce the mechanism about hero reproduction, if the developers do not go to limit the reproduction of NFT, even if they control the return cycle, the principal and revenue will be synchronized with the downward phase, and the decline of the absolute price of NFT will make users, guilds and other participants lose interest in the game.

Crypto Raider: death mechanism + double coin model for full control of game operation

Crypto Raider is an RPG launched on Poylgon with a setting somewhat similar to Axie Infinity. Players purchase a game character, NFT, to participate in the game and earn revenue by playing against each other and completing quests. This is by far the most mature game setup mechanism, and with a dual currency driven economic model, cooperation between guilds and game parties will be more convenient.

Tokens: $AURUM, $RAIDER

1.$AURUM: variable supply of tokens: consumes: game stamina, recruiting characters; increases: Gold-Farming acquisition, pledging Raider.

2.$RAIDER: Fixed supply tokens: used for hero breeding, in addition, the player pledges Raider in-game to get the AURUM consumed in-game every day.

Summary: Players enter the game through ETH (gold standard), the project gets ETH by selling NFT, Raider as a necessary condition for Breeding, the system can control both the future cost price of NFT and the payback cycle of players.

Unlike Axie Infinity, the game sets the chance of death of heroes in different environments, and with the total number fixed, the price of NFT is able to have a stable price pivot. At the same time, the project owner has made improvements to the pledge rules of RAIDER: the pledge gain will be enhanced as the pass lock time passes, which helps the project owner to achieve a soft lock for the governance pass. In terms of mechanics, Crypto Raider's economic model is more comprehensive in its control of the game's operation.

How to get better

1.Games bring multiple experiences, internal value retention: As the GameFi market goes to the late stage, GameFi starts to show some changes, then the users who bought the game characters to participate in Gold-Farming are no different from those gamblers who bought the project Token to rush into the second pool mining in early 2021, and the entertainment value of the game is faded by the users. Developers should provide users with a better participation experience, reflecting the entertainment value of the game, so that users are willing to pay time and money for the game. At the same time, besides the functional Gold-Farming NFT, the game can also consider adding symbolic NFT to make value retention for the game ecology, which can reduce the speed of monetary flow. This is conducive to the continuous growth of the game. 2.

2.Optimize the economic model and control the supply of NFT/Reward Token: We acknowledge that "Play to Earn" has brought a lot of initial users to GameFi. However, as the game progresses, developers may be able to gradually optimize the model to suit the development stage of the game. At the beginning of the game, a strong APY is naturally necessary for "go to market", but as the game progresses, "Play to Burn" can be promoted in the form of round robin tournaments, rewards tournaments, etc. to maintain Reward Token and the NFT pivot in value. For example, RPGs can set up prize pools for tournaments where players need Burn Passes or NFTs to participate and win excess rewards, thus satisfying the high level demand of experienced users and enabling token burning to control supply. In addition, the use of differentiated revenue curve can be considered to allow different participants to enjoy the satisfaction brought by the game. In my opinion, if there is no reasonable consumption mechanism, most projects' NFT and variable supply tokens will go to over-issuance, and the value of game characters has a very important impact on user retention, and the industry needs those GameFi, not FiGame, that make people feel satisfied.

3.The biggest advantage of GameFi versus online games is that the decentralized network provides users with a completely open world where players can move more freely in the virtual world. The games in the current GameFi tracks are more of a closed world one by one. In 2021, the "Dao to Dao" collaboration model in the DeFi circuit is adopted by many protocols, Curve and Tokmark open the aggregated liquidity to other protocols, bringing in third parties to join the ecological construction and provide better funding services for on-chain users. Can the Metaverse world explore its own path, which in turn catalyzes a new demand for governance passes and reward passes, and more importantly, NFT interaction in different game worlds is more worth imagining.

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Taking the native asset ecosystem as the division criteria, we generally classify the current GameFi operations of several blockchains into three categories: ETH on-chain scaling projects (Layer2), generalized sidechains for bridging assets, and other blockchains.

Major infrastructure for the current NFT and chain game projects.

Sidechains (independent blockchains) inherit the DeFi user volume and become the first stop of GameFi traffic gateway.

According to DappRadar and Cryptoslam, the current leading blockchains of the NFT and GameFi remain to be ETH, Polygon, BSC, and Flow. It is not difficult to understand that the logic of DeFi infrastructure to capture users is still valid in the GameFi field, and users with Play2Earn expectations seek to find suitable investment (game) targets in the familiar ecology.

With the help of the traffic center Binance Exchange, ETH “super sidechain” BSC inherited the DeFi users on BSC. However, the blockchain game projects running on BSC are more like a variant of the popular game Axie. Mobox introduced the concept of mortgage NFT based on Axie, and CryptoBaldes introduced the concept of NFT upgrade to improve the winning rate.

The most impressive performance of the sidechain is the Ronin sidechain empowering Axie. Meanwhile, Polygon, as an ambitious ETH expansion side chain, has also creatively delivered the very popular horse racing game “ZedRun” in a highly complete ecology.

Flow, in possession of top flow NFT projects, has opened Ramp and other legal currency payment channels to directly exchange FUSD, and developed its own wallet and other closed-loop ecology, aiming to cultivate sticky user habits. I think that is also why NBA cards can stand out from several strong IP NFT projects. At present, RPG+NFT collection blockchain game project “Chainmonster” is open to public beta, and is planned to land on the traditional game platform Steam in 2022, drawing attention to Flow’s circle breaking ability. However, due to its relatively closed-looped and single ecology, Flow is slightly weak in terms of asset/NFT cross-chain bridge, and it remains to be seen whether it can undertake the users on the existing chain.

Although GameFi can inherit the user volume of DeFi, unlike the “withdraw and then trading” habit of DeFi users, GameFi users under Play2Earn mode prefer to temporarily save or permanently collect the Token/NFT obtained in the game and sell at the right point in time to get higher revenue. Every NFT collector or chain player can deeply understand that in addition to cheapness, high efficiency, and chain-crossing ability, the long-term safety of assets should also be an important condition to consider.

Therefore, even if the high-performance chain such as sidechain has become the first stop of GameFi traffic gateway, in consideration of asset security and expansion concerns, ETH blockchain is still the first choice of most of the upcoming blockchain game / NFT projects.

New ETH Layer2 Ecosystem — — Zero Knowledge proof (ZK) scaling scheme leads a new direction of GameFi infrastructure

Polygon acquired Hermez to bet on the ZK Rollup scaling plan. Polygon Studios lays out a comprehensive game ecosystem.

The continuously popular blockchain game Axie Infinity uses the self-developed sidechain Ronin, carrying a daily active user of more than 500,000 people. However, to achieve low fees and quick confirmation, most sidechains often bear the cost of sacrificing “decentralization” and asset security.

Even if the sidechain Polygon adopts a free and open node scheme to address this problem, providing users with both PoS bridge and Plasma bridge as briding tools, the security of the former and the timeliness of the latter are still highly criticized.

The ETH Layer2 Rollup scheme has been recommended by the Ethereum founder Vitalik multiple times, among which ZK Rollup, with its simple and fast charge-withdraw smart contract, not only ensures the safety of assets but also greatly reduces gas fee, making it highly-praised as an effective expansion scheme in the long-term cycle. Although it is relatively difficult for ZK to perform the complex general computation of contracts (compared with Optimistic Rollup), ZK is still recognized by the market since Optimistic takes too long to complete the withdraw process.

Therefore, after the establishment of Polygon Studios, determined to expand the GameFi and NFT map, Polygon then acquired Hermez Network with $250 million and invested $1 billion as the Polygon ZK Rollup strategic R&D fund, betting heavily to fill the gap of Polygon ecology’s Layer2 expansion scheme. However, as the most difficult expansion plan, the launch time is still uncertain, providing a window for other ZK expansion teams to snatch the market.

With StarkWare’s support, can Immutable X, born with the golden spoon, become the ZK Rollup leader in the GameFi field?

The predecessor team of Immutable X was Gods Unchained(GU), a famous blockchain game company. The legendary production team Fuel Games set a record of 400 ETH revenue in 5 days even when the market was down in 2019. The game created over 4 million NFT cards (ERC721 format) in the open beta, including the “sky-high” priced NFT card — — $62,000 worth Mythic. A strong background of investors like Coinbase, FTX, Animoca also makes it a team of stars born with a golden spoon.

As the number of users continued to grow, the GU team began to solve the congested and expensive transaction problems on the ETH chain, preparing a Layer2 expansion plan designed for blockchain games (NFT). The development team was originally called Immutable, to ensure the absolute security of users’ assets, and to achieve that, the side chain expansion scheme was abandoned.

Following Imumutable’s solution logic: expansion=ETH expansion=NFT expansion, after comparing Optimistic and zero knowledge proof (ZK) scheme, the team found that the “anti-fraud proof” of the former resulted in a lengthy token withdrawal process, and the disadvantage cannot be remedied. Therefore, Immutable finally abandoned Optimistic and chose the ZK expansion path instead. As mentioned above, with zero knowledge proof, the universal computing functions can not be realized in a short time. But based on the current development level of blockchain games, it can meet the simple needs such as NFT transaction synthesis, and maximize the safety of assets while being fast and free, which is enough for it to become the most “easy to use” infrastructure.

When faced with a choice between Validium and ZK Rollup for ZK scaling scheme, Immutable perfectly matched with StarkWare team, and designed a zero knowledge proof scheme suitable for blockchain game users -“Volition”. This scheme returns the option to the users, providing users with not only the high efficiency of Validium’s no data verification, which satisfies gamershigh-frequency transaction requirement of light-asset, but also ZK rollup’s data verification security, meeting the absolute security demand of low-frequency transfers for large amount asset. In April 2021, Immutable X launched its beta, saving NFT traders nearly $1.3 million Gas Fee in the first week. In the latest introduction of the project test scheme, Immutable X called itself a ZK Rollup Layer 2 expansion scheme, We believe that once the official version of Volition is launched, it will bring us a smoother user experience.

As mentioned above, Polygon Layer2’s launching gap may provide Immutable X with the opportunity to seize some market shares. I think there are three essential elements for blockchain infrastructure to seize market share:

1.Smooth, cheap, and safe user experience

2.Abundant Dapp ecology

3.Strong marketing and publicity abilities

First of all, what does Immutable bring us in terms of user experience compared with the Polygon sidechain mentioned above?

User experience comparison of Immutable X and Polygon PoS chain

Layer 2 expansion schemes in traditional concepts often have the stereotype of being complex and difficult to use. However, when using Immutable X, we found that Immutable X can form the same level of competitiveness with the Polygon sidechain in terms of user experience and security:

1.Immutable X’s fluency and gas fee consumption are almost similar to Polygon’s

2.What’s more, because Immutable X is a Layer 2 originated from ETH, it no longer has to prepare Matic as a Gas Fee reserve like using Polygon blockchain. This greatly simplifies the preparation process (although Polygon chain transfer consumes minimal Matic per time, it causes additional ETH Gas Fee expenditure when buying Matic from weather Cex or Dex).

3.Most importantly, Layer 2 greatly improves the security of assets compared to side chains

As the Layer 2 scheme for ETH ecology, Immutable X can enable the prosperity of the whole ETH ecosystem. In recent activities, the hottest blockchain game project releases are also closely related to Immutable X ecology.

Although the high-profile 3A game “Illuvium” is not yet available, it reached a full circulation market value of nearly $4.5 billion in August, with total followers of more than 70,000 people. The game is designed with a complex and interesting monster battle system, containing ultra-high NFT synthetic trading opportunities. The game is expected to launch on Immutable X. in the 3rd quarter of 2021. “The Guilds of Guardians”, auctioned at a sky-high price, is the first to create the blockchain game team mode: individual players have to register as guild members to achieve Play2Earn. More than 130,000 users have registered in beta before the game is officially launched, it plans to launch on Immutable X in 2021Q4. Japanese classic NFT blockchain game with DAU up to 40,000 — — “My Crypto Heroes” also plans to work with Immutable X (the game plans to develop a Polygon version as well).

Another key of blockchain games is the transaction of NFT. In addition to collecting classic NFT Marketplace such as Opensea, Immutable X also developed the built-in Immutable Marketplace. It integrates NFTs from different game ecosystem into the same market as a NFT transaction “cross-project bridge”. Its original “Metaorder” order mode also helps traders screen their favorite NFT in the fastest way. Meanwhile, in the recently updated project plan, immutable put forward a new “carbon neutrality” NFT transaction concept, counting all Gas Fee generated by NFT transactions, and handing it over to the Immutable team to pay for carbon emissions indicators out of the project’s profit.

It is not difficult to find that Immutable X has locked the most closely watched blockchain game projects of the whole network and all potential users in advance through its complete ecological layout!

At the same time, IMX, a platform token, is on the agenda to encourage users to enter the ecology of Immutable X

While the IMX tokens white paper has not yet been released, it has begun to drop IMX tokens to early Gods Unchained players and Marketplace users. And the official Medium continues to post articles stating that new players still have a chance to get airdrop rewards of IMX tokens.

It is worth noting that although the current immutable X’s smart contract ETH balance is only more than 600, the number of coins charged per day remains high, maintaining a level of 1,000 addresses per day. While all the star games are currently not available, potential players are actively trying to use Immutable X.

We can boldly imagine what token rights can be given to IMX to capture users? Community governance voting, platform revenue dividends, platform trading universal tokens (NFT exchange across games), internal-test rights for games, NFT mortgage lending tokens… Immutable X, full of room for imagination, breeds much curiosity: whether there will be a new game-launching platform, a STEAM in the blockchain game field?

Can Gala find a brand new way to become a “arcade” for blockchain games?

GalaGames and ERC1155

In addition to the above Layer 2 battle, the competition among blockchain game projects is more fierce. The ultra-fast financing speed and the valuation of game projects often reaching billions of dollars, have made people feel the hotness and anticipation of the current market. However, at present, most blockchain game projects only have single games, and there are very few Metaverse auction blockchain game carriers such as The Sandbox and Decentraland. Therefore, in the heated discussion of metaverse + cblockhain game, lands auction also ushered in a new round of climax.

When it comes to land auction projects, Gala, another more unique ERC1155 project, is quite impressive. Gala aims to build itself into a game composite platform — — “arcade”, which is a rare blockchain game platform project in the field of blockchain games.

ERC1155 can be understood as a compatible version of ERC20Token and ERC721NFT, it can deploy an unlimited number of ordinary Tokens and NFTs in a smart contract while also capable of packaging multiple complex transactions to the blockchain. I think this feature is highly suited for developing NFT synthetic evolutionary games, especially for characterizing game points, economic tokens in the game ecology such as game coins and their NFTs.

For a simple example, in the construction game, if its specified upgrade path is 10,000 bricks =1000 walls =10 storys =1 building, if you want to represent the whole process through ERC721-NFT, you need to create at least 11,011 different NFTs, and if you describe the whole process with ERC1155-NFT,10,000 brick Token (NFT), 1000 wall NFTs, 10-floor NFTs and 1 tall NFT can be created. And the synthetic path of ERC1155-NFT is reversible, that is, if destroying 10 floors NFT can create 1 tall building NFT, then destroying 1 tall building can get 10-floor NFT.

Similar to Immutable X, Gala’s founder background also has a complete game gene. Founder Eric is one of the founders of the established social gaming company Zynga (stock code ZNGA, August 18th market cap of $9.079 billion). Zynga’s peak was around 2010 — — attached to Facebook’s powerful social network, it developed web games to the extreme and became the largest game manufacturer in the world with hot games such as “City Ville”. However, due to the excessive reliance on Facebook’s social networks, it misjudged the rise of mobile games and failed to make a timely transformation. The darkest moment of Zynga was fixed in China’s layoffs in 2014.

Thankfully, after learning from the previous experience, Gala successfully seized the new track of the blockchain games and improved the user systems in time to create social networks attached to the blockchain address. Russo (Polyient) described Gala as a content creation company that builds the game ecosystem in the long term and uses strong marketing skills to attract mainstream Internet users to participate in the blockchain.

Blockchain game “arcade” ecology overview

As a general token in “Gala Game hall”, Gala has community card, game pass, game development (land auction), game launch, NFT Marketplace, and other functions.

As a game development platform and launching platform, Gala takes advantage of the delicacy of ERC1155 standards to integrate five original built-in games, respectively: Town Star(Farm Construction games, open public beta), Spider Tank Project, Mirandus(will soon open public beta) and Fortified, Echoes of Empire. On a playable basis, each game also carries the Play2Earn mode, in which players earn Token rewards through rare rankings after collecting synthetic rare NFT.In five weeks into the TownHouse beta, 1.8 million monthly active users were captured!

In July 2021, Gala Games received an investment from the BSC Incubation Fund and asset-interacted the Gala tokens with the BSC chain to provide users with various ways of asset management.

In addition, Gala has recently released a new version of Game Stores, designed to integrate the gaming store and NFT MarketPlace.Gala tokens can be used to buy in-game feature packages for functional evolution or as an eco-currency to trade NFT within Gala Game Store. Gala Game Stores acts as an NFT transaction aggregator to help users simplify the NFT trading process as much as possible. Through functions such as screening and ranking, users can purchase the NFTs they need all at once, saving the time of switching back and forth between different game stores.

At the same time, Gala tokens can also be used to buy network nodes and share income with the whole community through participating in node pledges. We are looking forward to the future development of Gala as a unique platform game project!

Who can become the blockchain game Steam, and take the traffic gateway?

The development process of blockchain games can refer to the development process of Internet games, and its carrier may be from web pages to computer clients, from mobile pages to mobile APPs, from family computers to physical game consoles. I believe that the form of traffic entrance will also upgrade with the development of blockchain games. It may originate from the blockchain ecosystem into an integrated wallet, or a popular web page, or a game console with a “cold wallet” feature. The latest version of Google Horizon, just released recently, makes us more convinced that the future of Metaverse is not far away.

At present, blockchain games are still in the early stage, most of which adopt the two-step mode of recording operations on client-server and leaving asset allocation to on-chain bookkeeping. High-performance infrastructure is extremely important when games involve highly frequent and complex records on the chain. In the long run, lacking a safe side chain and the congested Layer 1, will eventually be iterated by Layer2 expansion and ETH fragmentation scheme. Polygon, MakerDAO quickly realized this and created the GameFi platform Gamefi.org in August. It is quite obvious that the blockchain game Steam is what all sides must contend for! As a rare Layer2 expansion scheme + game platform, Immutable X has the essential gene to grow into a blockchain game Steam.

“Small game hall” is also a game platform project that is very likely to appear in the development of blockchain games. To quickly break the circle, blockchain games need a simple carrier to lower the threshold for players and a simpler version of the Play2Earn mode to acquire customers. We also see the prototype of this small and beautiful platform in Gala Game, breaking the circle through blockchain games to attract users on the Internet.

The outbreak of blockchain games is an important event in the opening of the Metaverse era, and the flow entrance of blockchain games will also become a user hotbed of Metaverse. The battle for GameFi users is about to break out, let’s look forward to it together!

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