Blockchain-based games allow players to buy, collect and trade NFTs in multiple ways. Available NFT items in games might be characters, creatures, virtual weapons, skins and many other accessories.
In this upcoming phase, investors are rapidly discovering new use cases for NFTs beyond digital artworks and collectibles. An example is NFTs’ seamless connection with the metaverse industry, a fast-paced development which will inevitably shape NFT application and exponentially grow adoption in the long term.
Metaverses hold great promise for a more open and fair economy – one that is decentralized and backed by the blockchain. As a matter of fact, NFTs will serve as the gateway to a Metaverse as they empower the identity, community and socialization the Metaverse economy, which their vision is built upon.
In 2020, the gaming industry turned over several billion dollars. Around few billion of this was accounted by so-called in-game purchases, i.e., individual accessories (such as costumes, skins or utilities) or additional functions in the game.
We expect that this accessories market could very soon generate more revenue than the soccer league. Regardless of whether you are a World of Warcraft or Call of Duty fan: Gamers, by their very nature, have no fear of contact with digital worlds. In many cases they are also already familiar with cryptocurrencies. Approximately three billion avid gamers worldwide make up a huge market which is tailor-made for the use of NFTs. For example, if clothing, tools, properties, skills and other in-game products are programmed as NFTs in these games, players can own, collect, and resell them in real life as well. And they can finally do so outside the universe of the specific game in which they bought these things. This solves a big problem in gaming by giving sustainability to digital goods. It no longer matters if the game company goes out of business if a gamer can use a knight’s armor in another game, because the ownership is saved as an NFT. Several games already allow this, including Minecraft, which counts more than one hundred million monthly active players. In fact, on in-game marketplaces tools sometimes change hands for six-figure sums. NFTs also open up the possibility of earning money with gaming by selling NFT items captured or found in the game to collectors or other players. In addition, gamers can also earn cryptocurrencies. This is called play-to-earn. Particularly well-known are, for example, CryptoKitties (2017) or Axie Infinity (2018), which make up the currently best-known blockchain computer game. However, online poker is already being played with NFTs too and people are earning a living this way.
In CryptoKitties, players can pair digital cats in their mate with other cats in his possession and thereby breed new kitties. The value of the cats thereby decreases with the generation sequence. Animals of the first generations are rare and therefore particularly valuable – in the spring of 2021 they were offered at prices of up to 1 million US dollars. Certain special traits resulting from crossbreeding can also drive up the price of a cat, although mating a cat must of course be paid for in the same way as the service of a breeding bull on the analog livestock market.
Axie Infinity is currently the most played blockchain game and was awarded the title “Blockchain Game of the Year” in 2020. “Axies” are pufferfish-like virtual creatures in NFT format which can be bought, raised, sold, or even rented to other players via a marketplace integrated into the game. Players can also pit their Axies against each other to win a cryptocurrency called SLP. Millions in sales are generated in this way. In emerging markets such as the Philippines, “play-to-earn” is now considered a serious career path – being called to “play instead of working.”
In this context, we receive a few more questions regularly about NFTs in connection with Metaverse and games:
What impacts could NFTs have on today’s games?
NFTs enable legal secondary market activity that could have further downstream impacts. True digital ownership could increase engagement and spending within games. If players believe that their investment in a digital item retains value outside of the game, additional spending can be spurred.
Apart from that, players might place a higher value on an NFT than a normal “rare” item because it truly “belongs” to them. Unlike normal “rare” items that any player can obtain with enough effort (scarcity is artificial/unlimited and determined by player luck in loot boxes), NFTs open the door to unique, one-of-a-kind items (scarcity is real/limited and determined by blockchain ownership). More importantly, the history of ownership is stored along with it. This has far-reaching implications for e-sports: another possibility is that persistent items can be used in multiple games (and take different forms) depending on developer support.
While many games will not adopt NFTs overnight, there are already several experiments by different publishers evaluating the long-term implications of true digital ownership for games, the metaverse, and e-sports.
What is actually play-to-collect in the context of NFTs?
In 2017, “Dapper Labs” released CryptoKitties, a decentralized collection game based on Ethereum. With digital cat NFTs that can be collected, bred, and resold, the game was intended to be an inspiration for other collection “games.” Dapper Labs later developed the game NBA Top Shot, which created NFT collectibles with video clips of memorable NBA game moments.
While these games do not have gameplay in the traditional sense, they are examples of how NFTs can inspire the growth of a new game category: Play-to-Collect. This is not a new phenomenon; CS:GO, for example, has developed a fan base that primarily trades skins for profit (on secondary markets). Although CryptoKitties and TopShot moments have no utility beyond collecting today, there are other NFTs that can and do have utility in games.
What is Play-to-Earn?
Play-to-Earn is a blockchain game model where players earn assets in the form of tokens or other rewards that can be used in-game or traded on an open market. In return for contributing to the growth of the gaming community, players are rewarded with cryptocurrencies as they play. Axie Infinity and Ember Sword are decentralized games that use the play-to-earn model. In Axie Infinity, players are rewarded for their contribution to the ecosystem. In doing so, they can earn AXS tokens by playing skillfully. While Axie is a game, it also functions as a social network and a job platform.
What is the difference between CryptoKitties (play-to-collect) and Axie Infinity (play-to-earn)?
CryptoKitties and Axie Infinity are decentralized applications based on Ethereum. Both offer players the ability to collect, trade, and breed virtual pets that they can exchange for cryptocurrencies. For example, these are cats in CryptoKitties and fantasy creatures called “Axies” in Axie Infinity. These digital pets are NFTs, each with unique colors, abilities, and rarities. There is even a complex breeding system in both games. However, this is where the similarities end. In a way, Axie Infinity is an evolution of CryptoKitties. While CryptoKitties only allows players to trade cats, collect them, and thus embodies the “play-to-collect” principle, Axie Infinity additionally encourages players to form teams of three Axies each and battle other players or AI-controlled Axies for a chance to win Smooth Love Potions (SLP), the game’s native cryptocurrency. In other words, Axie Infinity introduces the play-to-earn concept, where users can also earn real money by simply playing. While in CryptoKitties the main attraction is collecting and reselling cats, Axie Infinity also builds on this, but allows players to use their Axie NFTs as value-added assets and as a means to generate new income on a regular basis.
What is the difference between gold farming and play-to-earn?
Gold farming is a long-standing practice in games of a Massive Multiplayer Online game (MMO), such as WOW (World of Warcraft). Players can later sell their in-game currency for real money, this is usually done “illegally” on secondary markets. Gray markets for games such as WoW flourish because players are happy to spend large sums of real money in exchange for in-game items, despite the many risks involved.
Games like Axie Infinity offer users a similar concept: players can participate in “player-versus-player” (PvP) or “player-versus-entertainment” (PvE) battles and receive loot in the form of the cryptocurrency SLP if they win. Unlike gold in WoW, SLP can not only be used to grow new Axies, but can also be legally traded on exchanges like Binance. Therefore, trading SLP on third-party exchanges is completely legal and carries none of the risks that come with trading on illegal markets. In short, play-to-earn models allow players to safely and legally convert their in-game earnings into cash. To do so, users simply need to have a digital wallet to store and transfer SLP to crypto exchanges. Play-to-earn games like Axie Infinity provide players with an additional source of income while encouraging them to use a portion of their earnings to purchase stronger in-game assets (like Axies) that can be used to further increase their earnings in the future. For publishers, play-to-earn can help generate more revenue from players in growth markets.
How much can developers charge for NFTs in so-called play-to-collect games?
Developers must decide on the price of their NFTs and how to sell them, such as through tenders or fixed prices. They may also consider charging a transaction fee for secondary market activities.
Regardless of whether the minting of NFTs is a one-time or recurring event, the introduction of tokenomics will certainly have an impact on the player ecosystem. While a game economy flooded with NFTs could render them worthless and uninteresting to players, too few NFTs could create a sense of unfairness among players because the game’s token economy is not inclusive and only available to high value users.
Can NFTs be implemented and used in regular games?
In general, NFTs (both pure collectibles and usable items) can offer developers several opportunities for monetization, including:
- Attracting new high-value users, especially those who do not want to play exclusively, but want to collect items including intellectual property (IP) through play-to-collect.
- Increasing average revenue per user on the assumption that players will spend more money on truly unique and owned items that retain their value over the long term and have proven limited rarity.
- Enabling “entry fees” to bring other developers’ digital assets stored as NFTs into a game.
- Collecting transaction fees (via a smart contract) for secondary market activities.
First, developers must decide whether to develop an infrastructure and a smart contract for minting and selling NFTs or whether they prefer to use third-party services. The former can be expensive, requiring new organizational capabilities that most traditional game studios do not have. Working with a full-service third-party platform simplifies the process, but there are only a few and they are not cheap. The developer would have to rely on the authenticity of the service provider, which could potentially be questioned. There have been reports of artists having their work minted and sold without their consent because the NFT system currently does not require someone to own the copyright before it is minted. Those who choose to have their work minted and sold by a third-party service provider are faced with the question of which service and marketplace to use.
What needs to be considered when developers want to add NFTs to a game?
The next step is to decide on the type, number and frequency of NFTs to be minted. For example, there will only ever be 90,601 virtual properties in Axie Infinity. Since the success of NFTs is often based on scarcity, a high supply means a lower average value. The easiest way to implement NFTs is to keep them separate and offer them as collectibles based on IP outside of the game, with no exclusive use to a specific game, similar to CryptoKitties or Top Shot. However, this may mean less value to players compared to NFTs that want utility (e.g., those that can be used or worn in-game). It would be best to build an NFT strategy into the basic game design from the beginning, but this adds complexity to the design as it requires developers to combine both traditional game development and the management of a token economy.
Why do you think the BAYC NFTs have become so popular?
The Bored Ape Yacht Club (BAYC) is a collection of 10,000 NFT monkeys, each with completely unique characteristics. Some features are more rare than others, which means collectors place a higher value on them. Buying an Ape also gives BAYC members exclusive access to future collections and other perks.
BAYC owners could transform their apes into mutant apes with a serum distributed via air drop. The mutants were also minted in a public sale for 3 ETH each. Owners of original BAYC monkeys also had the opportunity to mint a Club Dog NFT (Kennel) for free. The club donated a portion of the royalties from secondary sales to animal welfare organizations.
Part of BAYC’s success lies in its focus on creating a universe and exclusive club behind the NFTs. With games like the Mutant Arcade, charitable promotions, and club benefits, BAYC has maintained hype and a relatively high price tag.
The Bored Ape Yacht Club is a collection of 10,000 non-fungible tokens (NFTs) in the style of monkeys created on the Ethereum blockchain. It is inspired by NFT projects like CryptoPunks, where each NFT looks completely unique and individual. Each Ape has a different rarity depending on what the Ape is wearing, doing, and its background.
The project was started by the four pseudonymous founders of Yuga Labs: Gargamel, Gordon Goner, Emperor Tomato Ketchup and No Sass. Since its inception, BAYC has developed new NFT lines, NFT upgrades, and an exclusive club for BAYC holders. These developments have sustained interest in the project and led to incredible sale prices, such as $3.4 million (USD) for the NFT Sotheby’s.
Each Ape avatar is an ERC-721 NFT on the Ethereum blockchain. Each token is non-fungible, meaning it is unique and not interchangeable with other cryptocurrencies or tokens. An Ape consists of seven possible characteristics:
For each attribute, there are a variety of different looks and styles. Each look is limited to a certain number, so some are statistically rarer.
Usually, the rarest attributes trade at a higher price. If you look at the traits of a monkey as a whole, you can rank them by rarity. In other words, a monkey with a collection of rare traits will often sell for a higher amount than one with common traits.
Bored Ape owners can participate in exclusive clubs and areas of BAYC. This includes first access to new NFTs, NFT upgrades, and other perks. Both the Mutant Ape Yacht Club (MAYC) and the Bored Ape Kennel Club allowed BAYC members to participate for free. Since both of these collections are sold at high prices, the benefits of membership in BAYC are obvious.
MAYC is a collection of apes similar to the original BAYC, but with a zombie-like mutant theme. Owners of the original 10,000 BAYC NFTs received a vial of mutant serum of a random level from the AirDrop: M1, M2, and M3.
These were randomly distributed to the wallet containing the NFTs. When a monkey received the M1 or M2 mutant serum, it could create a new mutant monkey that shared some characteristics with its original form. The vials of M3 serum, on the other hand, could be used to create a completely new mutant monkey that had nothing in common with the original and could therefore be even rarer.
Yuga Labs claims that MAYC is the “final stage of membership” for Ape holders. From now on, the team will focus on providing more benefits and advantages to BAYC members.
Bored Ape Kennel Club is another NFT collection from Yuga Labs that will be distributed exclusively to Ape owners. Wallets that contained an Ape could mint a club dog NFT with various attributes and rarities. These dogs could be claimed for free aside from the gas fee. If resold, a 2.5% royalty was charged for a limited time, which was donated to animal welfare organizations.
Part of BAYC’s appeal is the history and atmosphere that comes with NFTs. While CryptoPunks has only its NFTs, BAYC has created a thematic universe. An example of this was the small Mutant Ape Arcade that was released along with the MAYC collection.
The Bathroom is another member benefit where Ape owners can paint a pixel on a virtual bathroom wallet every fifteen minutes. The Bathroom offers nothing more than a collaborative drawing board. But just like the other club benefits, it helps keep collectors interested in the project and its universe.
BAYC and its other collections have become relatively expensive because of their popularity. They are now only available on the secondary market, as there is no longer any minting. If the money is available, BAYC NFTs can be purchased on OpenSea and Rarible.
Bored Ape Yacht Club has successfully adopted a popular NFT model and found new ways to innovate. By combining ethical donations to charity, upgrades, and other membership bonuses, Yuga Labs has made the familiar CryptoPunks format more exciting. Just like the rest of the NFT community, NFTs focus on utility, not just collectability.
What role do celebrities play in this?
Again and again you read about Paris Hilton, Matt Damon and Reese Witherspoon in various Crypto Newspapers, they have all been promoting and selling Crypto Assets and NFTs.
Celebrities usually have built a brand / brand and through this brand they try new business models. Most of them use social network apps like Facebook, Instagram, Twitter, Tik Tok, SnapChat, etc. To grow their fan community, to engage and to achieve Conversation. Say, to get a fan to buy/purchase a merchandise or anything else. Between the selfies and hashtags and the prompts to watch their movies or buy their latest protein shake/their latest cosmetic line/their latest coffee maker, celebrities/celebrities have stepped up their rhetoric to persuade us “mere mortals” to jump on the NFT and cryptocurrency bandwagon.
Twitter is the platform where most of the “mere mortals” talk about NFT because it supports the use of NFTs in profile pictures for followers of the Twitter Blue service.
There was an episode of The Tonight Show where host Jimmy Fallon and guest Paris Hilton showed off their recently acquired Bored Ape NFTs, indirectly marketing their acquired NFTs.
The NFT community if you will sees it as rather “sucky”, “embarrassing” and “unbearable” how celebrities have all of a sudden become crypto and NFT experts or just want to offer any crap for sale as NFTs or indirectly do marketing for their NFTs.
In addition to Fallon and Hilton, Gwyneth Paltrow, Justin Bieber and the Logan Paul have also made their Bored Ape NFTs public.
In January, Paltrow changed her Twitter profile picture to her NFT and wrote, “Joined BoredApeYC and ready for the reveal.
She has since added a World of Woman NFT by FlowerGirls as her profile picture.
Actress and producer Reese Witherspoon, who sold her media company Hello Sunshine for $900 million last year, has positioned herself as something of a mouthpiece for cryptocurrencies. She alternates between what sounds vaguely like alarmist statements. For example, “In the (near) future, everyone will have a parallel digital identity. As a matter of fact, Avatars, crypto wallets, digital goods will be the norm. Do you really want that?” and the feminist rhetoric of, “Crypto is here to stay. I’m committed to supporting creators who have pioneered NFT and encouraging more women to join the conversation.”
The other celebrity is Oscar winner Matt Damon, who in his promotion for Crypto.com compared crypto investors to the Wright Brothers, the well-known aviation pioneers.
As with everything in Hollywood, there is an interconnectedness behind the scenes that is not apparent to the average fan. One would have to delve deep to trace it back to its origins. For example, the connections are remarkable between the stars who flaunt their NFTs and the powerful agencies that represent them. For example, Jimmy Fallon is represented by CAA, which is an investor in the NFT marketplace OpenSea and they recently signed a deal to represent NFT collector 0xb1, which owns NFTs from Bored Ape Yacht Club and World of Women. It’s commonly known that Witherspoon is married to Jim Toth, who was once one of CAA’s most powerful agents.
In our attention-driven economy, there is a lot of money to be made – if you are suitably famous and shameless. With the advent of cryptocurrency, there are whole new areas of life that can be monetized for potentially worthless digital tokens. Every influencer and celebrity seems to be out to get their little piece of the crypto boom. The question is, is it reprehensible?
What do you think about the acquisition of CryptoPunks and Meebits by Yuga Labs?
On March 11, Yuga Labs, the company behind Bored Apes Yacht Club (BAYC), announced the acquisition of the usage and exploitation rights of CryptoPunks. The market reacted as dramatically as could probably be expected: Bored Apes’ share price rose by about 18%, while Punks’ share price fell by 6%. But it’s all just a snapshot.
CryptoPunks was embroiled in controversy late last year when the NFT collection’s restrictive and opaque copyright law was increasingly criticized.
With the acquisition by Yuga Labs, the company plans to grant CryptoPunks and Meebits the same commercial rights that BAYC holders enjoy, allowing them to do things like stick their specific Bored Ape on a basketball shoe or print it on a jar.
Reactions to Yuga’s move were almost shocking – Bored Apes and punks were always seen as head-to-head competitors. When does flipping happen, i.e. when does BAYC have more total volume or floor than CryptoPunks. (In the NFT market, the minimum price is the lowest amount of money one can spend to become a member of a project (own an NFT). The minimum price is set by the person who owns an NFT in a particular project and offers the NFT for sale at a lower price than any other seller in that project).
Yuga Labs also acquired the exploitation rights to Meebits as part of the deal; both Meebits and CryptoPunks were developed by Larva Labs. The BAYC creator is now working out new terms for its two new collections, according to the company’s acquisition announcement. The acquisition underscores the dissonance of copyright issues in the crypto or NFT economy, which is, after all, a place where open source code is the norm. If someone takes over the code and can improve it, it’s generally considered a fair game. SushiSwap’s fork of Uniswap is a prime example of this.
Having to worry about what a person is allowed to do with their asset is anti ethical to self-sovereignity, like owning Bitcoin or other crypto assets, because in that case you are free to do what you want and when you want. as long as it is within the respective legal framework.
In my opinion, the acquisition is a step forward for CryptoPunks, because Yuga said via a tweet that they plan to let the collection be what it is. Their only plan is to give punks something they’ve been asking for for a long time: commercial rights to their punks.
Who actually owns the NFTs if Yuga Labs can suddenly buy intellectual property from Larva Labs?
Copyright protects intellectual achievement of various kinds, such as literature, music, photographs, movies, or even computer programs. The author’s rights arise automatically with the creation of the work. This does not require any formal act such as registration or a so-called copyright notice “©”. The prerequisite for the copyright protection of such works is that they are the authors’ own intellectual creations. Their personalities must be expressed through free creative decisions.
As a rule, copyright expires 70 years after the year of the author’s death. If more than one author has created the work, the rights may be exercised by the author himself, his heirs or by persons to whom the corresponding rights have been assigned.
Authors have two types of rights:
- personal rights and
- exploitation rights
As a rule, the exploitation rights serve the purpose of being able to use the work economically; in concrete terms, the author can permit or prohibit the use of his work. The economic usability results from the linking of the permission to a claim for payment. In essence, the author is entitled to the following exploitation rights in particular:
- Translation and editing rights (the right to modify a work, this is essential in the case of logos and trademarks, for example)
- Reproduction rights (e.g. when a digital photograph is copied and stored on a data carrier)
- Distribution right (to make a work available to others, e.g. to sell or give it away; once a work has been put on the market in the EU/EEA with the author’s consent, it may be distributed further as desired)
- Rental rights (rental of physical works e.g. videos, not included are rentals of films as software, which can only be used for a short time)
- Broadcasting rights (to broadcast a work by radio or by means of cables)
- Performing rights (to perform a work in public, e.g. background music in a bar or a live concert)
- Rights to make work available on the Internet, e.g. a photograph or the playing of a piece of music each time the website is accessed
The rightholder (the author of a work or a person to whom the author has granted the exploitation rights) has the right to decide whether or not to allow the use of his work. If the author has not authorized the use (and the law does not provide for a special regulation, such as free use of the work), the author (or the right holder) may prohibit it.
In this context, the copyright itself (in Austria) cannot be transferred by contract, but it can be inherited. The exploitation rights are largely transferable.
Indeed, unless otherwise agreed, a right to use a work can in principle only be transferred to another with the company to which it belongs, or with such part of the company, without the need for the author’s renewed consent.
Is there a logic to Yuga Labs’ 4 billion valuation?
The company said it will use the funds to “grow its rapidly expanding team, recruit the best talent in creative, engineering and operations, and be prepared for planned joint ventures and partnerships in the future. On Friday, the company announced a new Metaverse project called Otherside, which will integrate avatars from other NFT projects.
Yuga’s stunning valuation shows that the widespread interest in NFTs – not to mention the overheated hype – among investors/speculators and entrepreneurs is far from abated. The hype behind NFTs really began in early 2021. The technology has sparked interest across the media and entertainment industries as intellectual property owners look for new ways to engage fans and monetize content via the blockchain.
The funding news comes less than two weeks after Yuga Labs announced it had acquired the exploitation rights to NFT pioneers CryptoPunks and Meebits from Larva Labs. Last week, the company launched ApeCoin, a cryptocurrency that Yuga says will be independently managed as a decentralized autonomous organization (DAO). Yuga’s Otherside will use the ApeCoin tokens.
In October 2021, Oseary – a music industry veteran and tech investor whose management clients include Madonna, U2 and Red Hot Chili Peppers – signed Bored Ape Yacht Club and its Yuga Labs. With Oseary, Yuga can bring many ongoing projects to market faster and attract new strategic NFT-thinking partners who share its vision.
Mainstream adoption of web3 is accelerating very fast, and Yuga is at the forefront of uniting culture and innovation.
Otherside: Will Metaverse turn into a Success Story?
It was probably to be expected by some, after acquiring the exploitation rights from Meebits and CryptóPunks, that a big new project is on the way. A few days ago, a video went online on Twitter showing a Bored Ape in a crazy world.
Yuga Labs commented on the video with “See you in Otherside”, already revealing the name of the project, which is apparently going to be a metaverse. As fast as Yuga Labs developed lately, it is supposed to continue. The release of Otherside is already scheduled for April.
In addition to the NFTs of the well-known Bored Ape Yacht Club, the following collections will be integrated into Otherside according to current knowledge:
CryptoPunks, Cool Cats, CrypToadz, World of Women, Meebits, Nouns and the Mutant Ape Yacht Club.
Just a few days ago, Yuga Labs released its own ERC-20 token, ApeCoin, which will be used as a currency and for administration (as a governance and utility token).
For such a token, of course, there then needs to be a purpose. A metaversum would fulfill this. The emerging Metaverse is being created in collaboration with Animoca Brands – another significant player in this area.
Since there is overlap in personnel between Animoca Brands and the ApeCoin Foundation, there exists a presumption that Otherside and The Sandbox will be more or less related.
The Sandbox is Animoca Brands’ metaverse and the second most popular metaverse ever after Decentraland.
A presale for Virtual Land in Otherside will reportedly take place in April. Thirty percent of the land is set aside for holders of BAYC and MAYC, while seventy percent of it is available to any investor.
How do you imagine “Otherside”?
A mix of Decentralland, Sandbox, GTA V, WOW with missions and quests, but without weapons. Above all, a mix of play to collect and play to earn. It’s always a mix of user acquisition and user retention.
Selling virtual land – does that have lasting value? How did The Sandbox or Decentraland develop?
Depending on the perspective and the KPI: if you look more at user registrations, active users, reach and followers of the Social Network accounts or on coinmarketcap under NFT or Metaverse, then Decentraland is clearly on the first place, followed by Sandbox, Ape Coin and Axie Infinity. But note: Market cap is current price (Where supply meets demand) multiplied by Circulating supply, then Total Supply.
Circulating supply is a better approximation of the number of assets circulating in the market and in the general public. It is basically a much better metric for determining market capitalization than Total Supply. Important to know is that the locked assets (which were locked via smart contracts or legal contracts) and are assigned to a team or private investors and cannot be sold in the public market, do not affect the price and the market capitalization. For example, a private sale or Ecosystem/Bounty/Marketing/Airdrop assets earmarked for activities to expand the project’s ecosystem are not included. For example, tokens given away via AirDrop are generally excluded from Circulating unless the project can demonstrate that there was active demand for the asset (e.g., users had registered for the AirDrop). Or Treatment of Masternodes/Staking – Assets that have been “staked” in masternodes are evaluated on a case-by-case basis – factors such as masternode distribution, ownership, and lock-in periods are also considered.
Team/Foundation/Treasury/Escrow assets held by project members or key ecosystem participants may represent a significant percentage of the supply.
Is about the total supply as the total amount of the tokens currently in existence without tokens that have been demonstrably burned.
The best approximation of the maximum number of tokens that will ever exist during the cryptocurrency’s lifetime. This is also known as the theoretical maximum number of tokens that will ever be mined.
How do you see the role of the major investors who grabbed a lot of ApeCoins right before the launch? Will the VCs own Web3 in the end?
Basically, large investors and VCs always have a certain head start with capital and this will not change so fast with the gamy theory on which the blockchain technology is actually built in the public sector. If, for example, Proof of Stake were to discriminate against this group, we would also find ourselves where we probably don’t want to be. In fact, if you contribute more, you get more.
With Web3 you have even more possibilities than with Web2 to build your own business, be it in marketing, knowledge transfer, B2C, B2B services or SaaS. The Web3 ecosystem is evolving rapidly and the large investors and VCs are also a great opportunity if you want to try and experiment with new highly innovative use cases. No one knows if Metaverse, as it stands today, will be adopted at all. Thanks to the investors, some players may be able to create a new industry where many small players can then build their future source of income.
It’s not always about making money, but about creative development, collaboration, and creating and developing together.
- P2Earn, Play to Earn, Play2Earn games refer to the concept of gaming in which a platform provides its players with a chance to earn any form of in-game assets that can be transferred to the real world as a valuable resource.
- Leaders of NFT Games:
- Axie Infinity (AXS)
- Decentraland (MANA)
- The Sandbox (SAND)
- MyNeighborAlice (ALICE)
- Yield Guild Games (YGG)
- Illuvium (ILV)