Economics of the web3 project-part 2

0x01 Summary of the main model of single and double tokens

The basic main model is just the underlying structure of gamefi, so for any gamefi, we cannot simply rely on the main model to judge the quality of the project. Whether it is a single-token or double-token model, its essence is the new players entered to provide the funds for senior players to achieve play to earn. if the speed of new players entering the market cannot keep up with the speed of senior players’ output, there will be an inflection point, and even eventually lead to a death spiral. Therefore, Gamefi always takes three parameters into account: the number of new players, the number of active players, and the comparison of output and consumption.

0x02 :Gamefi+Defi

What we define as “”Gamefi+Defi” is to first set up a main backbone of the Gamefi economic model, mainly Gamefi, and Defi as the Auxiliary. The purpose of this is to form a one-layer or N-layer Russian nesting doll, allowing more funds to stay in the market and reducing the selling pressure on tokens.

DEFI Mechanism 1: Staking Mining

The core of Defi is pledge mining, using single token and stablecoin U to form LP , and linearly releasing rewards according to the method of Defi mining. This model mostly appears in the double-token model. Because the parent token as the governance token has less empowerment in the game, the parent token and U are used to form LP mining to reduce the circulation of the parent token and stabilize the price.

DEFI Mechanism 2: The Magical Use of Ve Mode

The Ve model first appeared in the Defi Curve vault. Simply put, it re-staking the token asset CRV of the Curve project to generate a second-tier token veCRV (which can be imagined as a certificate for asset securitization in the real world) ). For the same amount of CRV, the amount of veCRV given to the staking user is different according to the different lock-up times. The basic function of vetoken is voting, which gives project users more rights. A user who locks 10 tokens for 4 years may get more Vetoken than an ordinary user who locks 1,000 tokens for 1 month and has greater voting power for various decisions of the project. In the staking design of some Gamefi economic models, the above-mentioned Vetoken method also appears, which is used to vote on certain modules in the game.

DEFI Mechanism 3: Defi Gamification

This mechanism is quite special. It presents DEX, AMM and other functions in Defi in the form of games, and combines a part of the game’s own content, trying to attract funds through the combination of Defi and Gamefi, and then relies on game content and Defi Proceeds retain funds. eg:Defiland

Economic Model: Gamefi+NFT

NFT seems to be a prerequisite for all Gamefi, and no game will say that it does not need NFT. For the project party, in addition to Tokens that can be exchanged for funds, selling NFTs can also add funds, as long as there are players willing to pay.

Gamefi in the Web3.0 Era

There is an important change in Gamefi in the Web3.0 era: the original in-game asset issuance policy, which is part of the game’s numerical system, will be stripped out and put on the public blockchain.

After the game asset issuance protocol is placed on the public blockchain, developers cannot easily change the protocol. Whether these in-game assets are interchangeable assets like gold coins or non-fungible assets like props and land, they will become standard-format tokens on the chain. Then the assets are issued on the chain and can be traded using any protocol on the chain. That is to say, all game assets become part of an open, huge, unified crypto asset market.

Games don’t necessarily need to provide transaction protocols themselves. Generally speaking, the liquidity of a game-created asset trading market cannot be comparable to that of a large market. As a game, the main business is to create a game experience. At the same time, the game experience depends on the identity and assets on the chain. For players, on the one hand, interact with the game to consume the game experience, and on the other hand, they obtain assets by playing the game. The player’s private key directly controls the game assets on the blockchain.

All Web 3.0 applications, including Gamefi, most importantly develop their own communities. Now you must choose to join a good ecosystem, get ecological support, and get the attention of the community when you are doing a chain game project, otherwise, no one will pay attention to what you do.