Home

  • Heroes Chained AMA – Game Update & FoV (Recap)

    Heroes Chained AMA – Game Update & FoV (Recap)

    On 6/1/2023 at 6:00 a.m. (UTC), an AMA session was held in the Avalaunch Telegram Group with Heroes Chained co-founder and CTO, Ersin Taskin, to cover the recent Heroes Chained game progress as well as Fortunes of Ventuna (FoV), their idle mini game that shares many of the same NFTs (characters, weapons, etc.) with Heroes Chained.

    Below we present to you an excerpt from AMA with questions and answers.

    Dave | Avalaunch

    Welcome all to another AMA brought to you by Avalaunch. It is indeed a special occasion because we have a follow up with a previously launched project in Heroes Chained. Heroes, for those of us still in the game, assembled an all-star cast and launched their IDO about 17 months ago and have done their very best to build and deliver. It is the first time we’ve had a follow on with a team and today I am happy to be joined by @ersintaskin , their CTO and one of the people bringing cutting edge gaming to Web3. Welcome. How are you today?

    Ersin Taskin | Heroes Chained

    Thanks bro, feeling great as things get released 🙂

    Dave | Avalaunch

    Well it’s good to have you. Let’s get right into for those familiar and those just getting acquainted with Heroes Chained.

    A lot has happened since you were last a guest and it’s encouraging to see you all still building. How is the team and for those not familiar, maybe you can give us a high level overview about this star studded cast?

    Ersin Taskin | Heroes Chained

    Thank you for your kind words. We advocate game-first and hence team-first. We have doxed our core team members on our website, extensively. I suggest people check the team section of our website to see that it is the best doxed team, with links to evidence.

    The founders are also the founders of the two top software companies of the country, namely KodA and CBKSoft, with exceptional track record. KodA is a top-ten software company in Turkey and market leader in its domain. CBKSoft develops the highly reputable enVision BPM. It is the market leader in 20 countries. It was acquired by Infofort and then Iron Mountain eventually.

    Mev Dinc, co-founder has developed award winning games for his studio, and giants like Activision, Ubisoft, Nintendo, etc.

    Onur Cayli has taken part in the creation of the White Walkers race for Game Of Thrones, and did the same for The Amazing Spider Man, Terminator Genisys, Avengers: Age of Ultron, Antman, Man in Black 3, Marvel vs Capcom, Sonic, etc. He has created our Mayinhara race and our world concept.

    An finally, we worked with a great blockchain team and won the first ever Avalanche Hackathon together. So, we are equally strong there.

    Dave | Avalaunch

    Yes Sir. The team needs no introduction in gaming circles that is for sure and for the true fans, Mev’s autobiography is a good read.

    How are things going with Heroes Chained? At last turn, it looks like you’ve doubled down on development but before we get to the newest, “idle” iteration, how are things going with Heroes Chained?

    Ersin Taskin | Heroes Chained

    HC is both PC & mobile. As you know, we released our PC version open beta in 22Q3. We received a great deal of feedback and compliments, then. We have been working on the mobile version in parallel. We decided to release both versions at the same time. Last week we had our mobile version battle mode closed beta test. That was very successful as well.

    Dave | Avalaunch

    Well done. That of course will bring us to something I’m sure you’re excited to talk about.

    Ersin Taskin | Heroes Chained

    I personally found it difficult to get through the dungeons. Then our CEO Erhan, who is an avid gamer, taught me some tactics. Wow, you really need to do some reading and learning about the classes, races, and skill/spell cards. The gameplay is easy to learn but deep to master. Can’t wait for the PvP mode. It will most probably evolve to tournaments and e-sports. I imagine a cult like Magic the Gathering evolving here.

    Dave | Avalaunch

    The depth that top tier games go to and you poring over this stuff is impressive.

    In that vein, please tell us about Fortunes of Ventuna.

    Ersin Taskin | Heroes Chained

    Thank you 🙂

    The idle game was not on the roadmap, and technically it is a challenge. However, we have decided that the Mayinhara NFT holders would benefit of their NFTS before the main game release and we added FoV, the idle game, on the roadmap. We now have FoV 2.0, and added the Defiance release. FoV is very active and we got very positive feedback so far from our community.

    We, also were able to test our non-custodial/off-chain technology on FoV before HC. We always listen to our community and take their suggestions into account. So, we can say that the community gets involved with the game development with their NFT Mayinharas. FoV became one of the highest traffic games on Avalanche, and an organic use case where Web3 is the better option for game development.

    Dave | Avalaunch

    I didn’t know it wasn’t on the roadmap. That’s a lot of work for an additional project that made it on to the main stage.

    which brings me to my next question — How challenging is it to make what is essentially a separate game while incorporating the storylines, characters, weapons i.e. it seems like all the NFTs into this?

    Ersin Taskin | Heroes Chained

    The lore, races, classes, NFT items are the same in both games. And you know HC has a great lore. FoV is a totally different game i.e. different genre, gameplay etc. It is for prolonged game-play by the early adopters and investors and its time scale is very large. One battle can take days in FoV and minutes in HC. FoV is a web game while HC is native PC and mobile. So FoV is basically a distinct game from a development perspective.

    However, the core of creativity is the same. The lore, classes, races, items are the same. Therefore, we can use the same NFT ownership 1–1. All you need to do is an extra representation of the same item. You use the 3d model of your hero in HC and 2D model in FoV for example. It is an extra cost and challenge, but it is worth the effort. We have two independent teams for both games and we will continue to improve both.

    Dave | Avalaunch

    That is a lot. Kudos to you all and for listening to the community. It’s a lot to manage and balance.

    That said, how do you strike the balance between dealing with speculators vs. gamers? It’s been an ongoing discussion for the metaverse as valuable assets, like great games, accrue their value from players while having to essentially *answer* to an investing audience.

    Ersin Taskin | Heroes Chained

    That is the holly question. Remember that Heroes Chained has introduced the “Play-and-Earn”, challenging “Play-to-Earn”. It has started the “Game-First for GameFi” meme in 2021 when the p2e hype was rising. So, HC is designed and developed to be a fun game. That is why it took us a great deal of time and effort.

    In free market economy or capitalism you have investors, speculators and users. It is natural. You have the same in web3 gaming. You have gamers as users and the ratio of individual investors and or speculators is higher, which we may call democratization of investment or speculation if you will. The best way to cope with both investors and users is easy to know and yet hard to implement. Develop the best product for the users and do the marketing well. So, web3 is no different in that sense. Some investors will get the earnings they deserve. Investment involves speculation, which is OK as long as you develop well.

    Dave | Avalaunch

    Well said and there is often something of an adversarial relationship between parties. Gamers are slowly starting to warm to web3 but it’s still ongoing.

    Ersin Taskin | Heroes Chained

    Indeed.

    Dave | Avalaunch

    It’s always worth visiting what brought us here. How are you feeling about the technological advances on Avalanche and how does that bode for the Heroes Chained/FOV architecture?

    Ersin Taskin | Heroes Chained

    Avalanche is a top tier blockchain with its speed and cost-effectiveness. The flexibility of subnet approach also makes it long term friendly. Now that we have AWM for seamless and secure communication among subnets we the technical people are more relaxed. WE also added off-chain option for those who dont want self custody. And ecosystem, ecosystem, ecosystem.

    Dave | Avalaunch

    Agreed. The horizontal scaling/subnet architecture is going to gather critical mass and come into its own. Or so I believe.

    Let’s wrap up this part of the AMA with a final question before we move on to the community questions.

    I recall from our early conversations that you were among the first to recognize that an NFT should be more than a profile picture. Following the launch of our NFT Marketplace “Peek,” we are always interested in hearing about the application of NFTs with utility. Can you remind us about how some of your NFTs truly go to work in the game?

    Ersin Taskin | Heroes Chained

    We have a very special race called Mayinhara created by Onur Can Çaylı, uniquely, just like the White Walkers race he created for Game of Thrones. Mayinhara has passive income capabilities and in game advantages. Their holders have supported us at early phases of development. There will ever be 10.000 Mayinhara heroes ever. We sold more than 3.000 heroes until now. You cannot buy or earn Mayinhara when the game starts. Only available in NFT sales before the game release or you may buy secondary market. And we had a very high demand. We thank our community for their support and faith in the project. Mayinhara heroes can be traded on third party marketplaces. We will have all the five classes for Mayinhara Warrior, Tank, Mage, Archer, Healer. Mayinhara has many advantages both in and out of game such as being immortal, they don’t need breeding to reach next generation, getting extra income and bringing some stat boosts, early access rights etc.

    We have two types of NFT’s 1. Utility 2. Artworks and collectibles. 1. Utility NFT’s are heroes, items like sword, spell cards, guilds, land etc. They all have utility in the game.

    You craft gear, and materials from lower tier resources which you can sell as NFT. This helps buyers save time and effort. You can use your gear and resources yourself as well. For passive and semi-passive income, you explore outside the city walls and find chests, rare NFT items, and resources. You do dungeons for looting items, runes or resources. Battles against NPC enemies. We are working closely with Dexes for integrations. Compounding and yield farming. You can own land outside the city where you can get many benefit of it such as crafting, collecting resources and even getting fees from some activities on your land. In brief it is a metaverse mimicking the real economy. But since it is fun the economy is sustainable.

    Dave | Avalaunch

    Thank you for the comprehensive answer.

    Ersin Taskin | Heroes Chained

    Thank you for the opportunity.

    Community Questions

    Dave | Avalaunch

    The game sounds like it’s becoming a robust experience and congratulations on Fortunes. Sounds very promising. Now, moving on, our inquisitive community has a few questions.

    First up is @verniadollar who asks an easy question — “are any of the fees generated by the game distributed back to holders/staker?”

    Ersin Taskin | Heroes Chained

    Yes 🙂 you may do further reading in our Medium channel and follow us on Twitter, Telegram, Discord.

    Dave | Avalaunch

    Fair enough. 😁 Our sophmore effort is none than @BuckStern who wants to know- “Often — we see multiple tokens in games, why does Heroes Chained only use one?”

    Ersin Taskin | Heroes Chained

    Simple is the best. You can get tokenomics wrong the more sophisticated it becomes. Remember we are a game and not DeFi. We achieve price stability via FIAT and volatile value via HeC. So HeC represents the censorship resistant, self custody option whose value is in correlation to the size of the game economy. HeC can be staked for governance as well. So we didnot need a separate token for stable price tags, they are pegged to USD.

    Dave | Avalaunch

    That makes sense. I’ve often wondered why so many games have two token economies where some of the chief utility seems lost in the uncapped “currency” token. Good for you all.

    Ersin Taskin | Heroes Chained

    Indeed.

    Dave | Avalaunch

    None other than @Arleenclements inquires — Does Heroes Chained have a free to play version? How do you find a balance between attractive casual/free players while making it exciting for those who hope to earn?

    Ersin Taskin | Heroes Chained

    Yes we have f2p option. Like all high quality mid-core games which are f2p and include high in app purchase market. We use their best practice. First we need to develop a fun to play game with rich content and gameplay experience involving high variety of experience and gamers. Then we must have a high enough in-app purchase market, which has been achieved many times in the sector.

    HC is a normal game using the best practices of the real gaming industry.

    Dave | Avalaunch

    Right. Good reminder. And next up is our very own @charan_0318n who took a real interest in the project — What are the new features added to FOV 2.0? What are the main differences between using silver and gold bars for crafting weapons in FOV 2.0?

    Ersin Taskin | Heroes Chained

    New features have arrived with FoV 2.0. Limited gas fee, new tier levels (6/7), sending and claiming heroes collectively, revamped new user interface are just some of these new features. We released FoV Defiance recently and World Boss Event which is a new game mode, crafting weapon, marketplace, inventory came as new features. Please follow us on our social media and especially read our medium articles on FoV 2.0.

    Dave | Avalaunch

    And our final question comes from @PatrickChan111 — There is a negative prejudice against local projects in our country. What are your plans to break these prejudices? Heroes Chained introduces the concept of “Play and Earn” vs. “Play To Earn” Can you tell us the real difference between the two?

    Ersin Taskin | Heroes Chained

    HC is not the right project for quick buckers. It is a first class game project. Developing a good game is universal and the market is global. HC has an internationally renowned team, Mev Dinc has developed globally award winning games for example. Other founders have internationally respected startup experiences.

    So far HC has been welcomed by the national and global community. Take a look at our backers, and community. And remember we have been rated high for a very long time, continuously. We have been able to keep this reputation for so long by building and releasing actual stuff. At the end of the day nobody cares where the good game they play is developed. And our country is a top country in game development. That is play&earn. It is game-first.

    Dave | Avalaunch

    That’s an appreciated answer and I thank you for being here today.

    Good to hear of all this development as we wind our way through these bearish conditions.

    Ersin Taskin | Heroes Chained

    Remember bear is when you can concentrate easier on building 🙂

    Dave | Avalaunch

    and a big congratulations on Fortunes. Amazing to see you all pivot and put together something that was not even on the roadmap. Takes a strong and accomplished team who has their ear to the street.

    Ersin Taskin | Heroes Chained

    Thank you very much. This summer will be fun. Cant wait to see how this game unfolds 🙂

    Dave | Avalaunch

    Likewise. Looking forward to it and again, nice to have you here today.

    ,

  • Peek NFT’s Debut Sale: The Battle for Giostone Genesis Hero Collection

    Peek NFT’s Debut Sale: The Battle for Giostone Genesis Hero Collection

    In the ever-expanding universe of Non-Fungible Tokens (NFTs), Avalaunch is excited to present a new marketplace that is crafted with an emphasis on utility NFTs from highly curated collections. Today, we invite you to Peek NFT, a platform devoted to fostering a community of passionate Avalanche NFT explorers and enthusiasts.

    The Debut Sale: The Battle for Giostone Genesis Hero Collection

    The inaugural Peek NFT sale features Battle for Giostone (BFG), an ever-evolving MOBA game coming off of these recent milestones:

    • Transitioned from a closed-alpha version to a community beta.
    • Garnered a player base of 5,000.
    • Attracted 30,000+ viewers for their esports event, The Primal Giostone League.
    • Follow-on investment from Blizzard.

    The Plutus NFTs: Enhancing Gameplay and Participation

    The sale unveils the Plutus NFTs, a limited collection, where each Genesis Hero provides:

    • Unique in-game bonuses
    • A share in BFG game revenue
    • Two types of Heroes, Forger and Hoarder, offering distinct benefits:
      • Forger Heroes reduce your cost for forging new Heroes by 10% initially, with a 1% reduction for each additional Forger Hero, up to a 20% maximum
      • Hoarder Heroes boost your earnings within the BFG ecosystem by 10%, with a 1% increase for each additional Hoarder Hero, up to a maximum of 20%
    • Unique skin specific to its class, tradable on the secondary marketplace
    • Hero backgrounds will represent the in-game skin, with 10 different variations – 4 Common, 3 Rare, 2 Epic, and one Legendary.
    • 7,000 total Heroes will be minted.

    The Sale Structure and Value of BFG Staking

    The sale is structured to prioritize Gold Stakers:

    • On May 22nd, 3:00 PM UTC the general sale for the Heroes will begin: 
      • Period: 4 days
      • Mintable Heroes: 500
      • Price: 10 AVAX for 50% of the NFTs
      • After these are the sold, the final 50% can be purchased for 11 AVAX
    • Gold Staker Sale Begins on May 26th, 3:00 PM UTC
      • Period: 3 days
      • Mintable Heroes: 500
      • Gold Stakers can receive a Hero at a price of 9 AVAX 

    Total Heroes For Sale on Peek NFT: 1000

    Powerful Utility

    • Genesis Heroes reward stakers with BFG tokens.
    • 10,000,000 BFG tokens are allocated for Genesis staking rewards.
    • Stakers can enjoy boosted APY during a promotional period following the sale.
    • Following the promotional period, BFG’s Genesis Hero NFT stakers will receive a revenue share, distributed quarterly.

    Special Modifiers

    The Plutus Collection of Genesis Heroes possesses the powers of the Giostone, allowing access to a Special Modifier. Owners gain:

    • Access to a Special Modifier for every 10 Genesis Heroes in your account, with a maximum usage limit of three at a time.
    • Special Modifiers can include: boosted APY, monthly skin drops, energy refresh (2 uses per week), lower forging times, guaranteed abilities, and increased access to Battle Pass levels. 

    Conclusion

    Avalaunch’s Peek NFT hopes to usher in a new era of utility-focused NFTs, with Battle for Giostone paving the way. The Plutus Collection adds a unique twist to the gaming experience, offering not just in-game advantages but also revenue participation. The innovative structure of the sale and the value of BFG staking with your Hero presents an enticing opportunity for early adopters. The Special Modifiers further enhance the benefits, adding a layer of strategic depth to the game and the NFT ownership experience.

    Welcome to Avalaunch. Welcome to the Plutus Collection.

    , ,

  • Unveiling Peek NFT: Avalaunch’s New Launchpad & Marketplace

    Unveiling Peek NFT: Avalaunch’s New Launchpad & Marketplace

    The world of Non-Fungible Tokens (NFTs) exploded in recent years, with new marketplaces and projects popping up every day. However, not all NFTs are created equal, and many lack real utility beyond their speculative value. That’s why Avalaunch is excited to announce the creation of a new NFT marketplace, with a focus on utility NFTs from highly curated collections.

    Introducing Peek NFT 

    Avalaunch’s Peek NFT is designed to be a product that encapsulates a state-of-the-art NFT marketplace with a focus on NFTs that have demonstrable utility. With a clear emphasis on attributes and less on speculation, Peek NFT is poised to redefine the paradigm of NFT trading while offering comprehensive support for initiatives developed on the Avalanche blockchain. 

    The Peek NFT marketplace will contribute to Avalanche by hosting NFT collections that have a firm place within larger ecosystems. These NFTs are not just collectibles, but specifically designed to add value to both users and the protocol itself. Offering NFTs that can accrue value in lockstep with a protocol’s growth is the aim as non-fungible assets evolve from digital arts to financial instruments and ultimately, RWAs. Let us delve into Peek NFT and how it can emerge as a home for Avalanche-based projects.

    Embarking on a Journey with Peek NFT

    As Avalaunch persists in its efforts to become more than a launchpad, the team has chosen to foster an environment of collaborative growth within the greater community. Peek NFT does not intend to offer “everything under the sun” but strongly prefers to be notably selective in its offerings. 

    • Highly curated across verticals with an emphasis on NFTs that offer meaningful utility.
    • Avalanche ecosystem based projects.  
    • Anyone is allowed to participate in our marketplace but: 
      • Some sales may have rounds that allow access to Gold Stakers participants first.

    The goal is to make the marketplace accessible to as many people as possible while also ensuring that the sales are fair and equitable.

    • Marketplace Exploration: Delve into the growing selection of Avalanche-based NFTs and uncover hidden gems.
    • NFT Trading: Avalanche-based NFTs for sale to diversify and grow collections.
    • Community Engagement: Connect with other Avalanche NFT enthusiasts, creators, and collectors to exchange insights, collaborate, and evolve together.
    • Participate: Avalaunch will host curated NFT sales where users can gain access to the unique offerings from newly launched and existing projects.

    Nurturing Avalanche

    Peek NFT transcends the conventional definition of an NFT marketplace. It is envisioned as a robust resource; enabling Avalanche-based projects to launch their sales, expand their audience, and realize their objectives. The team is committed to fostering a community that reciprocates, empowers, and benefits its users as well as creators.

    Peek NFT, with its provision of collaborative opportunities is uniquely positioned to catalyze new NFT launches. The Avalaunch platform’s robust community, comprehensive tools, and focus on collaboration can render it an invaluable asset for projects launching or expanding into Avalanche.

    Peek NFT is committed to growing a community of passionate Avalanche NFT explorers and enthusiasts alike. By providing a dedicated platform for such participants, it can serve as a rallying point and act as a hub for the community. This new market intends to fuel the genesis of innovative ideas, collaborations, and initiatives that can propel the Avalanche ecosystem forward.

    A Sneak Peek

    The first sale on Peek NFT will feature a project that had a significant presence at the Avalanche Summit and is receiving a follow-on investment from Blizzard. Given Avalaunch’s history of hosting NFT sales, the team believes it is the perfect fit for an inaugural offering. That said, Peek NFT will also cater to other verticals, from Avalanche gaming, DeFi and potentially, to the wider world of art and culture. Stay tuned for the official announcement.

    Conclusion

    As Avalaunch gears up for the launch of Peek NFT, the team is actively exploring co-marketing opportunities and strategies to ensure a pipeline of offerings. By combining the strengths of the existing Avalanche Launchpad with a curated NFT platform, Avalaunch aims to contribute to a thriving ecosystem for Avalanche-based projects, creators, and collectors.

    , ,

  • GoGoPool AMA #2 — Technical Deep Dive (Recap)

    GoGoPool AMA #2 — Technical Deep Dive (Recap)

    https://github.com/multisig-labs/gogopool/blob/main/contracts/contract/tokens/TokenggAVAX.sol

    Dave | Avalaunch

    Community Questions

    https://docs.google.com/spreadsheets/d/1Gjdp1rP2MrsGO9QQuia_rjyo_8nQm-5jNDt2vIUZMhI/edit#gid=0

    GoGoBot at your service…
    ,

  • GoGoPool AMA #1 — Project Overview (Recap)

    GoGoPool AMA #1 — Project Overview (Recap)

    COMMUNITY QUESTIONS

    Plus

    ,

  • GoGoPool X Avalaunch: IDO Announcement

    GoGoPool X Avalaunch: IDO Announcement

    Introduction

    The demand for Web3 technology is growing exponentially, and will result in the onboarding of millions of new users in the coming years. In its current form, Web3 is built for thousands of users and can not meet the scaling demands of these anticipated millions. One truly popular app could completely break any layer 1 chain. The only way to scale Web3 and meet this demand is through appchains—and GoGoPool thinks Subnets are the best (and only) option to create this safe and scalable solution.

    Subnets partition blockchain networks into smaller, more manageable parts, each with their own set of validators and levels of security. Basically, Subnets are their own sandboxes that are customizable, flexible, and scalable. It’s a private blockchain with batteries included.

    Avalanche is unlike any other network in that it was specifically designed to support the creation and management of Subnets. The blockchain’s consensus mechanism is unique because it allows for fast and efficient validation of transactions across the network. This makes creating Subnets with their own features, consensus mechanisms, and governance models easier.

    Avalanche is uniquely positioned to engineer a future where Subnets are responsible for network scalability, flexibility, and interoperability cross-network for Web3.

    GoGoPool is working to advance the adoption of Subnets by making it simple for builders to create and manage them.

    In their own words, “we make Subnets easy.”

    About GoGoPool

    GoGoPool is keenly aware of the challenges arising for builders as the Subnet ecosystem begins to grow. In particular, there are three noted obstacles: high validation costs, inefficient tooling, and a lack of community onboarding.

    Every validator node of a Subnet must also be a validator of the Primary Network, which costs 2000 AVAX. That means to get started, a Subnet which requires 5 nodes will force a project to source 10,000 AVAX. This prohibitive cost makes experimentation with a Subnet untenable. Projects need a way to quickly source hardware and AVAX easily.

    The first release is GoGoPool; a permissionless staking protocol designed specifically for Avalanche Subnets to make sourcing validator nodes easy. At launch, GoGoPool reduces the AVAX requirement to launch a new validator node by about 50% via liquid staking.

    When using GoGoPool to liquid-stake, users swap AVAX for ggAVAX token, a new staking token which represents their staked AVAX plus any rewards it has accrued in real-time. Users can sell, hold, or spend ggAVAX. Effectively, they can use ggAVAX in the same way they use AVAX. No technical knowledge or hardware is required, and there is a 0.1 AVAX staking minimum.

    You use ggAVAX to grow the Subnet Ecosystem while liquid staking.

    Once a liquid staker swaps AVAX for ggAVAX, they start earning rewards automatically. The AVAX is held in the Deposit Pool smart contract where it gets matched to node operators.

    To launch a new validator node through GoGoPool, users supply their own hardware and register minipools by staking only 1000 AVAX (instead of the normal 2000) and stake 10% of that value via the GGP token. Because node operators stake AVAX and GGP, they earn rewards in both AVAX and GGP. New minipools are placed in a queue to get matched from the ggAVAX deposit pool.

    Once matched, minipools are launched as full AVAX validator nodes.

    Minipools are non-custodial and were designed for maximum safety and freedom for node operators and liquid stakers. Operators retain full ownership of their node and may use it to validate Subnets, and it is this commitment to maintaining a permissionless protocol that makes it easier for participants to launch a Subnet!

    Benefits to Users

    The primary users are liquid stakers, node operators, and subnet operators.

    Liquid stakers now have a direct way to support the Subnet Economy, as every AVAX they stake gets matched directly to a minipool. This lowers the cost of hardware and sourcing AVAX for a Subnet; helping Subnets launch faster. Liquid stakers still earn AVAX staking rewards, while not needing any technical knowledge. Avalanche Network penalties and rewards are socialized across the pool, creating a safer and more stable experience than solo delegation. If a node operator’s rewards are slashed, their GGP collateral is also slashed to help make stakers whole. The ggAVAX token can be used in DeFi the same way AVAX can.

    Node operators are able to launch more validators at a cheaper cost, while earning more. They earn in 3 ways: staking rewards, monthly GGP rewards, and an operator commission from the matched liquid staking funds. Minipools are permissionless and noncustodial, giving full ownership to operators. Operators are also able to participate in the GoGoPool DAO, giving them access to Subnets who are looking to test their technology and find product market fit.

    Subnet operators can launch their own nodes through the protocol, and tap into the community as they need to scale and decentralize. Projects that partner with the GoGoPool DAO will also get access to Subnet tooling (more details on this coming soon!) to help them launch faster with less engineering costs.

    Token and Utility

    ggAVAX

    When a user deposits AVAX into the deposit pool, they receive a synthetic derivative token called ggAVAX.

    ggAVAX represents a staker’s deposit plus the rewards it gains over time. This token is considered liquid and can be used like AVAX whereby users can:

    • Hold it to accrue staking rewards
    • Sell it, or 
    • Use it to earn additional yield. 

    If there is floating AVAX in the deposit pool, users will be able to exchange ggAVAX back for AVAX (which burns the ggAVAX, and draws AVAX from the deposit pool). Alternatively, they will have the option to exchange it for any token they would like on exchanges that list the token.

    GGP

    GGP is an ERC20 token and serves as the protocol token for GoGoPool. The GGP tokens allow Node Operators to launch minipools i.e. full Avalanche Validator nodes matched with user funds for 1000 AVAX.

    Node Operators have to stake a minimum amount of GGP tokens to secure their assigned staking funds as insurance for good behavior. At genesis the minimum will be 10% of their AVAX staked amount, but the operator can choose to stake as much as 150%. The higher their GGP stake, the higher their monthly GGP rewards will be. Node Operators can use these GGP rewards to launch new validator nodes, increasing their overall yield. In the future, Node Operators may restake their monthly GGP rewards to request AVAX delegation from liquid stakers onto existing minipools.

    If a node operator has excessively low uptime and causes a loss of rewards for the protocol, stakers can be compensated from the GGP insurance put up by the Node Operator. This socializes the risk of being matched with a bad operator, and minimizes any potential losses. Slashed GGP can be sold to token holders at a discounted rate, with AVAX proceeds awarded to Liquid Stakers.

    GGP token holders will have the ability to participate in the GoGoPool Protocol DAO, which allows members to propose and vote on a range of governance issues including inflation schedule of GGP, removing/replacing bad actors, smart contract upgrades, payment of community developers for future work, and rewarding outstanding members of the community (as well as other configuring the settings of the protocol).

    GoGoPool DAO

    GGP’s goal is to have every component of the protocol be configurable by the ProtocolDAO. Anyone with a GGP token has the ability to partake in the ProtocolDAO, proposing and voting on new items. Members of this DAO will be responsible for pushing the limits on what DAO members can and will do, and set the standard for other web3 projects.

    The ProtocolDAO will maintain a treasury to pay for security audits and reward community/developer contributions.

    Some of the governance factors the ProtocolDAO members will have influence over are listed below:

    • Depositing funds into the treasury wallet.
    • The GGP token inflation schedule and rate.
    • At genesis, there will be 0% inflation for 4 years, at which point the DAO can contemplate adding a 2-5% inflation rate to be used as rewards.
    • GGP reward distribution between Node Operators and DAOs.
    • Configure protocol settings like min/max staking amounts, enabling/disabling registration, etc.
    • Deciding on liquidity mining and bootstrapping reward programs.
    • Blacklisting / whitelisting Subnets.

    Snapshot voting will be used to gauge sentiment, and outcomes will be executed on by the GoGoPool Foundation. The Foundation is a Cayman entity which has an independent Director, and is in charge of executing DAO proposals and guiding the progressive decentralization process for the protocol.

    There is a second DAO which is responsible for maintaining the health of the protocol in its earlier days. The RialtoDAO is initially made up of the core developer team, and will be decentralized over time. This DAO operates Rialto (MPC software) and maintains a few important functions for the GoGoPool protocol (distribution of Avalanche staking rewards, initial price oracle to the protocol). See docs for more information.

    Traction

    GoGoPool – Links and Team

    Website | Discord | Medium | YouTube | Twitter

    Partners and Backers

    “GoGoPool isn’t just another Liquid Staking Protocol, it’s an LSP and a coordination mechanism that allows subnets to be deployed easier and cheaper. With their innovation, we believe GoGoPool could become a core infrastructure component for the Avalanche ecosystem, which is at the forefront of blockchain technology. Disclaimer necessary: This testimonial does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product.”
    – Brian Johnson, Republic Capital

    “We believe GoGoPool is on the forefront of innovation in Avalanche scaling and growth by addressing the two most critical points: reducing the friction of launching and operating a subnet, and lowering the barrier to entry for staking participants who seek to reinforce the network. If you’re a supporter of Avalanche, you should be very excited by the important tech that the GoGoPool team continues to roll out for the ecosystem.”
    – Brandon Potts, Framework Ventures

    “I have been an Avalanche validator since day 1 and believe subnets are key to truly scaling blockchains. The GoGoPool team has the potential to help achieve that dream, by creating a rich platform connecting validators like me to web3 builders eager to launch their own subnets. The team has strong technical expertise, a community-focused vision, close ties with Ava Labs, and no obvious competitor. I can envision a future where the GGP token plays a crucial, bedrock role in a dynamic subnet economy.“
    – B_Tanyeri, Avalanche Validator

    Conclusion

    GoGoPool aims to make the adoption of Subnets in Web3 seamless and efficient. By addressing the challenges of high project costs, inefficient tooling, and lack of community onboarding, it is empowering builders, node operators, and users to participate in the rapidly growing Subnet ecosystem. The permissionless staking protocol reduces the AVAX requirement for launching validator nodes, making it more accessible for a broader range of participants while giving liquid stakers a way to directly help the Subnet ecosystem.

    The mission is to drive the future of blockchain technology through network scalability, flexibility, and interoperability, as envisioned by Avalanche. By offering benefits to liquid stakers, node operators, and subnet operators, it fosters a more collaborative and interconnected blockchain landscape.

    The introduction of the ggAVAX and GGP tokens further enhances the functionality of the platform, providing a way for node operators and liquid stakers to work together to grow Subnets. The GoGoPool DAO ensures that the platform’s future is shaped by its community, giving GGP token holders the power to influence governance decisions and drive the platform’s direction.

    GoGoPool is a crucial step toward the realization of a truly interconnected Web3 world. By streamlining the creation and management of Subnets on Avalanche, we are making this cutting-edge technology accessible to a wider audience and helping to build a future where blockchain networks can seamlessly communicate and collaborate with each other while handling a Web2 level of scale.

    Join in the journey to revolutionize the blockchain landscape and advance the adoption of Subnets for a more connected and decentralized world.

    “It’s been great working with Avalaunch, and it’s awesome to be a part of this whole thing. We are all-in on making Subnets easy, reducing launch times for projects, and creating an ecosystem in order to scale Web3 and bring blockchain to the world. If we as a community play our cards right, I believe that in 3 years 80% of appchains will be powered by Avalanche Subnets.”
    – Steven Gates, GoGoPool Co-Founder

    The GoGoPool launch on Avalanche represents a truly community-centric, cooperative piece of infrastructure that will go a long way in moving Subnets forward.

    Funding Numbers

    To ensure fairness, transparency and community support the original private sale and public sales are at the same price. Public participants will note that the private sale is subject to a significant lock as are the pre-IDO partners whom are also buying at a premium over the public round. GGP feels this is important to make sure that all parties are correctly aligned at launch – there are no pricing differences between what is paid by private investors (VCs, angels, etc) and the Avalanche community. This way, everyone is sharing the same risk and rewards at genesis and fosters equality and fairness.

    GGP believes that every person involved in both sales will directly help the protocol decentralize and scale for the years to come.

    Total Supply: 22.5M GGP Tokens

    • Seed Round—5M USD at $1.33 per GGP 
    • Pre-IDO Partner Sale: up to 1.35M USD at $2 per GGP*
    • Avalaunch Validator IDO: 50K offered to validators at $1.33 per GGP
    • Avalaunch Stakers IDO: guaranteed 250K USD at $1.33 per GGP**

    *The pre-IDO partner sale is ongoing and GoGoPool will not accept more than 1.35M although interest may exceed this number. GGP reserves the right to sell less and any remainder will roll over to the foundation.

    **Total IDO allocation is up to 1% of the total supply. Any remainder after 90 days rolls over to Foundation.

    SUPPLY BREAKDOWN & VESTING

    Total Supply: 22,500,000 GGP

    • GoGoPool Foundation: 41.42% | The below allocations are subject to change according to DAO voting. Snapshot voting will be used to gauge sentiment, with recommendations executed by the Foundation.
      • DAO Fund: 16.42% | allocated as per the DAO — eg. growth capital, additional grants, liquidity incentives, airdrop schemes, strategic alliances, advisors, etc.
      • Ecosystem Development Grants: 15% | To fund engineering, business development, and marketing.
      • Liquidity Incentives: 10% | To be deployed as the DAO sees fit.
    • Original Team: 20%
    • Seed Round: 15.58%
    • GGP Staking Rewards: 15%***
    • Advisors: 3%
    • Pre-IDO Partner Sale: up to 3%
    • Liquidity: 1% 
    • IDO: up to 1%. Any remainder rolls over to Foundation

    ***GGP Staking Rewards are split between 3 parties, and unlocked when issued:

    • 70% to node operators
    • 15% to Rialto DAO
    • 15% to Protocol DAO Treasury

    Vesting Following TGE:

    • GoGoPool Foundation: Locked for 3 months, to be deployed under DAO snapshot voting over the following 48 months.
    • Original Team: 12-month lock up, 36-month with quarterly vesting.
    • Seed Round: 12-month lock, 36-month with quarterly vesting.
    • GGP Staking Rewards: 48 months, monthly vesting. 
    • Advisors: 12-month lock, 36-month with quarterly vesting.
    • Pre-IDO Partner Sale: 
      • Tickets under 100k USD: minimum 12-month lock with 12-month quarterly vesting.
      • Tickets over 100k USD: 12-month lock, 36 month quarterly vesting. 
    • Liquidity: Fully unlocked at TGE. 
    • Avalaunch IDO: Fully unlocked at TGE.

    Initial Supply: 187,970 GGP

    • Liquidity pool—500K ($250K AVAX + ~188K GGP)
    • IDO sale: 300k USD—225,000 GGP tokens
    • Initial Market Cap (excluding liquidity): ~250K USD

    Note: The only day 1 circulating tokens, excluding liquidity, will belong to Avalaunch IDO participants.

    REGISTRATION SCHEDULE:

    Registration Opens: Tuesday, April 18 at 3:00 p.m. (UTC)
    Registration Closes: Sunday, April 23 at 6:00 p.m. (UTC)

    SALE SCHEDULE:

    Validator Round Begins: Tuesday, April 25 at 6:00 a.m. (UTC)
    Validator Round Closes: Tuesday, April 25 at 3:30 p.m. (UTC)

    Staking Round Begins: Tuesday, April 25 at 3:30 p.m. (UTC)
    Staking Round Closes: Wednesday, April 26 at 6:00 a.m. (UTC)

    Booster Round Begins: Wednesday, April 26 at 6:00 a.m. (UTC)
    Booster Round Closes: Wednesday, April 26 at 10:30 a.m. (UTC)

    Introducing Avalaunch Refunds

    The upcoming GoGoPool x Avalaunch sale debuts Avalaunch’s innovative refund policy, focusing on safeguarding user participation. This includes a 14-day price performance guarantee, making users with unclaimed tokens eligible for refunds in the event of poor token performance. Refunds can be conveniently processed via the Vesting Marketplace, enabling simple requests and fast completion.

    For more detailed information about the refund policy and its requirements, please refer to the main article.

  • The Future of Esports – How BFG Will Shape Web3 Gaming

    The Future of Esports – How BFG Will Shape Web3 Gaming

    From wanting to be professional athletes, kids now want to be professional gamers. The competitive spirit that lives and breathes within us always wants to prove its merit. Tournaments, leagues, and Esports events bring millions of fans to watch players compete. Social media is flooded with gaming videos, creators, and the gates have been opened by icons like Dota 2, Fortnite, and CS: GO. Now, Web3 gaming is making its first step, and it’s ready to pack a punch. Enter Battle For Giostone, the game that encompasses the future of gaming and the future of Esports.

    The Rise of Battle For Giostone

    From a concept to a fully playable game, it has taken Battle For Giostone a little over a year to turn a dream into reality. Founded by experts and lifelong gamers Mile Gramatikov, and Theeban Siva (1437), it quickly amassed a community of dedicated and competitive gamers. The MOBA genre walked so that Battle For Giostone could run. Building on the main weak point of current Web3 games, Battle For Giostone is actually fun to play. You can check that out for yourself and play for free.

    The unique mechanics make it different from titles like League of Legends, Dota 2, and Smite. Players get to forge their Heroes out of six Hero Classes and 72 Abilities. Not only that, but the duration of matches will be limited to 30 minutes and include Battle Royale elements. The Giostone mechanics make it incredibly fast-paced. Last but not least, players can trade their assets and get rewarded.

    The Impact of Battle For Giostone on Web3 Gaming

    Gaming is a multi-dimensional niche. Some people look at it as a method of relaxation. Others look at it as a place to compete. And then there are those who want to make a living out of it, either through esports, in-game earning, or creating content.

    Battle For Giostone hits on the key points of each player persona. You can play solo or as a team in 5vs5 matches and choose whether you want to play casually or compete. The free-to-play aspect allows everyone to test out the waters and see if they love MOBAs. Easy to learn and hard to master immediately brings in a community of people who want to explore every crevice and emerge victorious through skill and effort.

    Here’s what a Community Game Night looks like:

    The Future of Battle For Giostone in Esports

    As Battle For Giostone continues to grow and evolve, the future in Esports will look brighter than ever. The game is becoming more popular by the day, and the continuous game nights, tournaments, as well as the Primal Giostone League have a snowball effect when it comes to interest.

    There are countless possibilities for how new technologies can push the boundaries of competitive gaming. With a fully equipped production studio, the team hosts and casts events and creates content to remain fresh and exciting for both players and spectators alike.

    The ongoing development ensures the game remains fair and balanced, making it incredibly lucrative for gamers who want to compete and showcase their skills. Ultimately, the future of Battle For Giostone is intertwined with the future of Esports. It’s well on its way to becoming a leading force in the industry in the following years.

    Here’s a tournament that was hosted recently:

    How Battle For Giostone Will Shape Web3 Gaming

    The Web3 space is evolving rapidly, and new trends are constantly popping up. But one thing has always been true of the world. People always want to know who is the best. Whether that’s the Olympic Games, the World Cup, the Superbowl, the International, or the Primal Giostone League, there’s always a question of who will win.

    With a heavy focus on skill, teamwork, and strategy, Battle For Giostone can capture the minds of millions and evolve proactively. Whether you’re a die-hard fan of MOBAs already or a complete newbie makes no difference. There’s never been a better time to start playing, become a part of the community, and experience the thrill and excitement of competing!

  • Introducing Avalaunch IDO Protection & Refund Policy

    Introducing Avalaunch IDO Protection & Refund Policy

    Introduction

    The rapidly evolving world of crypto has given rise to innovation and opportunity along with the volatility that accompanies genuine disruption. Among these opportunities, IDOs have become a popular method for launching new tokens and raising capital for promising projects. Avalaunch is committed to providing a secure and transparent environment for users to participate in token sales and IDOs. Because investing in this dynamic landscape can be challenging and unpredictable at times, Avalaunch has established a comprehensive refund policy designed to address specific situations to better safeguard our users’ interests.

    The Importance of a Refund Policy

    A well-defined refund policy not only instills trust and confidence but also serves as a protective measure against unforeseen market fluctuations and project shortcomings. By outlining clear eligibility criteria and a streamlined process on a per sale basis, Avalaunch ensures that users can make informed decisions when participating in token sales and IDOs, while also having a safety net in place should the need arise.

    Our Next Sale Policy

    Given that each sale is unique with varying terms and vesting periods, Avalaunch will provide a bespoke solution on a per sale basis to best serve our users. Avalaunch focuses on price protection in three primary ways:

    1. Liquidity—Teams must believe in their pricing and must provide a tradable environment for their token. Initial liquidity provision should be roughly equal to the value of the circulating supply at IDO price.
    2. Price Uniformity—Retail buyers often have the luxury of unlocked tokens while private investors are subject to vesting but may receive tokens at a heavily discounted price along with a percentage of their allocation at TGE. This substantially lowers the cost basis of circulating tokens, creating misaligned incentives.
    3. Price Protection—teams must provide a period where the tokens remain at or above the IDO price.

    Price Protection For Our Next Sale:

    • 100% unlocked at TGE so there are no vesting considerations
    • 14 Days of price performance guarantee
    • Token must remain at or above IDO price for 85% of the time in aggregate and must not fall below IDO for a consecutive period of more than 24 hours
    • Users who have not claimed their tokens will be eligible for a refund

    Please note that the price protection policy for subsequent sales will likely have tweaks and modifications to best optimize the user experience.

    Refund Eligibility Criteria

    To be eligible for a refund under our policy, users must fulfill the following conditions related to the specific sale in question:

    • No Prior Token Claims or Vesting Marketplace Interaction: Users must not have claimed any tokens from the sale or interacted with the Vesting Marketplace for that particular sale before requesting a refund. By claiming tokens or engaging with the Vesting Marketplace for the sale, users are deemed to have accepted the associated risks and rewards, making them ineligible for a refund.
    • Token Price Criteria: Refunds can be claimed and activated only when the token’s value falls below the IDO price, as defined above, within a 14-day refund window. This refund window begins on the date the token is listed on its first supported exchange, decentralized and other. Should the listing project not meet the price protection criteria, eligible users may submit a refund request which will be made available on the Vesting Marketplace.

    Refund Process

    As part of the newly launched Vesting Marketplace rollout, Avalaunch has designed a straightforward refund experience for eligible users.

    To request a refund, simply follow these steps:

    • Connect your wallet to the Avalaunch app and navigate to the Vesting Dashboard.
    • Locate the relevant project and click the “refund” button.
    • Review and accept the refund terms and conditions.
    • Submit your refund request, and our team will process it—please allow up to 48 hours for the refund to be processed.
    • Any fees associated with the original transaction, such as gas fees, may not be refunded.
    • Additionally, please note that users provide collateral for their purchase in AVAX and will be refunded in AVAX.

    Support and Assistance

    We understand that navigating the complex world of crypto investments can be daunting. Should you encounter any issues or have any questions regarding the refund process, please do not hesitate to contact administrators in the official Avalaunch Telegram channel for any assistance.

    Conclusion

    In the fast-paced and often unpredictable world of cryptocurrencies, having a comprehensive refund policy in place is vital for both investors, projects and platforms alike. By offering clear eligibility criteria and a streamlined refund process, the Avalanche ecosystem can continue to thrive as its community confidently navigates the ever-evolving world of digital assets.

    ,

  • Understanding Tokenomics – Models, Systems & Sustainability

    Understanding Tokenomics – Models, Systems & Sustainability

    To build on the overview on web3 gaming from last month, we wanted to explore the basics of web3 tokenomics. GameFi is still a nascent sector, but it has already crossed $14 billion in global value, with some studies indicating future growth upwards of $50 billion by 2025. However, for this to succeed there needs to be continued refinement on how game tokenomics is structured to ensure sustainability.

    Nearly every week, we see new crypto games released, but very few of them survive more than a few months. One of the main causes of this is poorly established tokenomics. Now this could be by design as we saw in late 2021-2022 with many DeFi clone type projects spiraling to zero. The more promising projects suffered from just not having a well-thought-out long-term strategy.

    One of the core components of every blockchain-based project, including games, is tokenomics.  This is especially true when it comes to investors who pay close attention to those sections of a project’s whitepaper to evaluate the game based on its tokenomics architecture.

    So what are tokenomics and what are some key things to look for when evaluating a game? Let’s explore.

    Tokenomics Overview

    Tokenomics encompasses a variety of concepts, including playing, staking, trading, governance, and other mechanisms designed by the game’s development team. By implementing these concepts effectively, game developers can create a self-sustaining ecosystem that rewards players for their involvement.

    One of the key benefits of a well-designed tokenomics system is the creation of a self-sustaining loop. This means that players are rewarded for their contributions, which encourages further engagement and creates a strong community around the game. This community can be a critical factor in a game’s success, as it can help to promote the game, attract new players, and provide valuable feedback to the development team.

    To ensure the success of a game’s tokenomics system, it’s essential to carefully consider the various economic principles at play and how they interact with each other. This includes factors such as token supply, inflation, and distribution, among others. By understanding these principles, game developers can create a sustainable and fair system that benefits both players and the game.

    Tokenomics Models

    There are essentially two main models we have seen projects build their tokenomics around, deflationary and inflationary.

    Deflationary models will typically involve a fixed token supply, where the issuance of new tokens will decrease gradually over time. The decreasing supply usually pushes prices higher as tokens become scarcer. Bitcoin is the best example of a deflationary model.

    Alternatively, an inflationary tokenomics model can be implemented which involves an unlimited cap of tokens. With this model, the token supply will only increase over time, but certain mechanisms can be implemented to limit inflation or potentially shift to create a deflationary system. A great example of this on Avalanche was the Treasure Under the Sea (TUS) token that was inflationary. The team put mechanisms in place to attempt to slow the inflation at various times through introducing different burning mechanisms for TUS.

    Choosing between an inflationary or deflationary tokenomics model is an important decision for game developers as it can significantly impact the long-term sustainability of the game. Both models have their advantages and drawbacks, and game developers need to carefully consider the needs of their specific game and audience when designing tokenomics.

    Inside of each of these models, there are two primary ways a team can approach slowing inflation. Throughout the last 18 months we have seen examples of all of these models and we would expect we continue to see teams incorporate these ideas into innovative ways to sustain a game economy.

    • Buybacks: Periodically a team will purchase tokens from the market and burn them. This will remove a certain percentage of the supply and attempt to bring a better balance to supply and demand.
    • Transaction Tax: Each transaction of a buy or sell would have a certain tax associated with the transaction. This tax would then be burned similar to the buyback model but occurs constantly.

    Two-Token Systems

    Outside of the inflationary/deflationary models we witnessed the rise of the two (or even three) token system in numerous games over the last year. The two-token system aims to distinguish between a utility token and a governance token. For example, Crabada implemented this model with TUS as the in-game token and CRA as the utility token.

    However, this system has faced some challenges. Both investors and players may struggle to grasp the advantages of holding one token over the other, and how they can benefit from the overall gameplay experience.

    It’s crucial to educate users about the unique roles each token plays in the ecosystem. The utility token serves as a means of exchange for goods and services within the game, while the governance token represents voting power for decisions that impact the ecosystem’s future. By clearly defining these roles, users can make informed decisions on which token best suits their needs and goals.

    It’s also essential to consider the potential risks associated with the two-token system, such as the possibility of the governance token becoming overvalued and negatively impacting the overall ecosystem. As a result, it’s important to carefully monitor and balance the distribution and use of both tokens.

    Web3 games need to be easy to understand and play without the average player becoming confused or frustrated.

    Sustainability (or lack thereof)

    Designing and choosing the right tokenomics is not an easy task, and can easily distract a team by focusing more on how to value the token(s) instead of developing a fun and engaging game.

    Developing an engaging and fun game is the primary goal, and it’s essential to prioritize this over simply focusing on token values. If the game fails to attract and retain players, it doesn’t matter how well-designed the tokenomics are. Therefore, it’s vital to focus on the gameplay experience and make sure it’s easy to understand and enjoyable for players.

    While tokenomics play a crucial role in incentivizing player engagement, solely focusing on how much players can earn may attract a player base only interested in extracting value. This approach can lead to a death spiral for the token, as we’ve seen in some cases over the past few years.

    To avoid this, game developers should design tokenomics that encourage engagement and reward players for their contributions to the ecosystem. This can be achieved by carefully balancing factors such as token supply, inflation, distribution, and other economic principles to create a fair and sustainable system.

    Conclusion

    In addition to basic tokenomics and sustainability, there are other factors that need to be examined before investing in a web3 gaming project. Some of these topics include evaluating the tokenomics distribution, token sale pricing and unlock schedule, a clearly defined governance model, more detailed utility examples, and reading and understanding the whitepaper. These topics are extremely important to evaluate as both a player and investor. In future articles we will take a look at each of these and how you can use the information to help guide your decision making process before investing or playing a new game.

  • Why Web3 is the Future of Gaming

    Why Web3 is the Future of Gaming

    What is GameFi and Why is it Important?

    GameFi is a term used to describe the fusion of finance and gaming. Combining the power of blockchain technology and the massive gaming industry will revolutionize the way we play, invest, and earn money doing something that so many people across the globe already do. GameFi does not just mean video games, but also includes other popular sectors such as sports betting, casino games, and even virtual real estate.

    There has been an unprecedented growth rate in the gaming industry. Blockchain technology and Web3 are about to transform it in a dramatic way. The gaming industry has always been lucrative, with billions of dollars in revenue generated every year. However, gamers have always had limited ways of monetizing their skills and achievements. GameFi offers a solution to this problem by allowing gamers to own, trade, create, and monetize their in-game assets and achievements. This not only provides a new source of revenue for gamers, but also creates a new market for investors who can invest in these assets. You can take a closer look at the GameFi analytics dashboard at footprint.network below for a detailed breakdown by chain activity.

     

     

    The importance of owning Web3 assets like non-fungible tokens (NFTs) is becoming increasingly apparent, and it’s time to pay attention to them. Here’s why owning Web3 assets is crucial for GameFi and how it’s going to change the way we play.

    Why is ownership of Web3 Assets Important for GameFi?

    There are a variety of reasons that ownership of assets will change the face of how we look at gaming, but from my perspective you can combine a majority of the benefits into a few main topics.

    • True Ownership
    • Interoperability
    • Scarcity
    • Transparency

    True Ownership

    This is probably one of the single largest benefits of web3 gaming. Unlike traditional in-game assets, Web3 assets are stored on a decentralized blockchain, and the owner holds the private key to access and transfer the asset. This means that the owner has complete control over the asset and can sell it, trade it, or even gift it to someone else. Traditional in-game assets, which are under the control of the game developers and studios do not allow for any trading, selling, or management of anything by the players. They simply collect your money through microtransactions and move on.  For instance, in Call of Duty, players frequently buy skins, weapon blueprints, and attachments. Once purchased they are bound to that account in that version of the game.  In 12-24 months when the next Call of Duty comes out, those purchased items are no longer usable and basically dead money. That player will now have to buy more skins or weapons in the current version.  In web3, those assets should be able to be brought into the next version of the game or sold throughout the existence of the old version to other players to recoup some or all of the original cost.  Rare, limited time skins could become valuable based on what the community wants and is not dictated by the gaming studio. Players can take advantage of all the potential given in this new GameFi environment and have full control over their Web3 assets.

    Interoperability

    Another advantage of Web3 assets is interoperability, which goes hand in hand with ownership. These assets can be used across multiple games, platforms, and even outside of the gaming world.  The possibility to take these NFTs and use them across multiple games opens possibilities that we have not even begun to scratch the surface of when it comes to gaming. This interoperability creates a new level of freedom and flexibility for gamers as well as creators and developers who can put their skills to work to bring numerous communities together.

    Scarcity

    Scarcity is another factor that makes Web3 assets valuable. Unlike traditional in-game assets, Web3 assets have limited supply, and their value is determined by the market demand as opposed to pricing by the game studio. A gaming studio rarely ever releases a limited amount of anything because this would cap how much they can make off the items so eventually, if the item is good, everyone will have it and it is just a requirement to stay competitive. With third party developers having the ability to create NFTs for a game, they can set the number of items for release. If the number is set low and the community loves the release or has a major impact on the game, this scarcity will make the assets more valuable, and this can provide an opportunity for gamers to invest and make money. The scarcity of these assets creates a market for collectors and investors, who are willing to pay premium prices for rare and unique assets.

    On the flip side of this however, this could potentially open game breaking releases. For example, if a skin was released by a developer that would blend into the background of an environment making them almost impossible to see, this could send the community into an outrage if the number of NFTs made it impossible to obtain. Since these assets are owned by the player they cannot be easily patched or removed as we have seen down in web2 games.  How these situations are navigated will be extremely important as the web3 space develops.

    Transparency

    A key part of web3 is transparency. Blockchain technology’s decentralized nature ensures that every transaction is recorded on a public ledger, making it transparent and auditable at any time. With this, gamers can track their assets and history more easily, and creators can see the price history of popular assets so they can improve on or rework them for future releases.

    Web3 is Poised for the Future

    With the right resources in place and the billions of gamers around the globe, web3 gaming is poised to take the place of traditional web2 gaming. There is still plenty of work to be done with ensuring each game has a sustainable economy, the appropriate security measures in place to avoid exploitation, and can seamlessly onboard traditional gamers who may have a negative opinion about crypto and web3 gaming. That being said, with industry titans like Epic Games, Amazon, and more entering the market, it’s clear they’ve done their research and realize the potential that web3 has to completely change how we have looked at gaming during the last 3 decades.