Culture, games and economy, Genesis Universe’s dark horse journey

Recently, the Ethereum merger has been announced to be officially completed, which opens up a new ETH-PoS era and also means that the short-lived prosperity of the current bear market is about to run out. As expected, just after the merger was completed, ETH saw a continuous plunge, which seems to tell us that the long bear market has just begun.

But even under this overall downturn, there are still some tracks that are still bullish by many headquarter institutions.

Culture, games and economy, Genesis Universe's dark horse journey

Statistically, top crypto venture capital firm Animoca Brands made 66 investments totaling more than $185 million in the first half of 2022. Of these, about two-thirds of the investments went to gaming and infrastructure. Investments within the gaming space, in turn, accounted for the largest share, containing 28 deals.

Similar to Animoca Brands’ layout are organizations such as a16z, Paradigm, Coin and FTX. Compared to 2021, their investment activity in the first half of 2022 has clearly shown a relatively cooler trend, but in terms of the strength of the investment layout of the GameFi track, it seems more aggressive instead.

And this is actually not difficult to understand.

GameFi with the previous explosion of DeFi, NFT in the nature of certain commonalities, it can be said that it is a track with the potential to detonate the market.

First of all, the game itself is naturally attractive to people. According to the data, the current output value of the global game industry has exceeded 300 billion dollars, even more than the sum of the movie and music industries. Compared with ordinary games, the game assets in GameFi are fully owned by players and can be converted into real income. Imagine the potential of a game that puts players in full control of their data assets and even enables them to make a living from them.

Secondly, GameFi lowers the knowledge and technical barriers for ordinary people to enter the Web3 and crypto markets. In the fast-paced modern social life, it is hard for ordinary people to have the energy to dedicate to learning about Web3 again. However, GameFi is able to attract players to Web3 in the form of games and achieve painless participation through entertainment.

The first half of this year, STEPN’s circle has also accumulated a large mass base for GameFi; at the same time, capital also sees its amazing energy, so it has also added codes.

All of the above makes it impossible not to be optimistic about it. What we are going to introduce today is a GameFi with rich cultural background and focus on playability – Genesis Universe.

Genesis Universe – A new GameFi that is both financial and playable

Culture, games and economy, Genesis Universe's dark horse journey

1、Project Introduction

Genesis Universe is a Web3 card battle strategy game based on mythological stories from around the world. It is built on BSC chains and allows players to manipulate mythological characters from around the world to fight and explore in a brand new world by choosing different mythological systems.

In the world of Genesis Universe, players can acquire hero NFTs through extraction and trading, and upgrade their hero NFTs by exploring the world to obtain different materials to enhance their efficiency in fighting and exploring in the world of Genesis Universe.

2、Team and financing information

Genesis Universe is independently developed and produced by Superchain, a Web3 company registered in Singapore, which focuses on technology development, application and services in the blockchain field. Its team includes both blockchain experts from well-known IT companies and also brings together product and technology experts from well-known Internet financial platforms.

On July 28, 2022, Superchain successfully completed the first round of private placement for Genesis Universe Genesis Universe, raising a total of $2 million.

The development team of Genesis Universe has extensive prior blockchain startup experience and is dedicated to providing blockchain technology solutions to customers in Southeast Asia.

For the development of Genesis Universe, its team aimed to balance the entertainment and financial aspects of the game in order to create a new P2E game. The developers intentionally downplayed the financial elements of the game and focused on controlling the playability of the game itself, trying to make a GameFi that is more like a game.

Culture should not be a barrier to crypto

Culture, games and economy, Genesis Universe's dark horse journey

In the eyes of the world, the crypto world is firmly tied to the decentralized nature. With blockchain as its technology, it is gradually practicing openness and transparency at the institutional level. However, it is obviously not enough to analyze a society only from the two levels of technology and system. Culture, as the root of the bloodline of spiritual civilization, contains the power to sway people’s logic. This core element, however, is gradually becoming a major barrier to the development of the crypto world. For example, the same blue-chip BAYC and Azuki, the former is hugely popular in Europe and America, while the latter is riding high in popularity in Asia. This difference in aesthetic expression is actually a mapping of the difference in inherent cultural attributes.

In this regard, our long-standing tolerance education only makes us feel deserved, but it is this seemingly tolerant deservedness that masks the problems. Because the attitude towards differences is often not one of tolerance, but of exclusion and division. This has become a major obstacle for the crypto ecosystem to remain whole.

With this in mind, Genesis Universe has responded accordingly.

Genesis Universe sets the backdrop and worldview of the entire world as a battle of the gods under a chaotic world. Its heroes NFT include mythological characters from six regions: Egypt, Greece, Northern Europe, China, India and Japan. These characters often have quite a deep geographic base, such as Hermes, the god of travel in Greek mythology, Odin, the king of the gods in Norse mythology, and Pan Gu, who opened up the heavens and the earth in Chinese mythology.

Culture, games and economy, Genesis Universe's dark horse journey

Through the intermingling of multiple cultures, players can use the game to break the barriers between cultures and thus gain a sense of cultural identity.

In addition, Genesis Universe maintains a unified overall art style. But at the same time, it also adopts a differentiated design for heroes from different cultural backgrounds, in order to better meet the different aesthetic needs of users in different regions.

Game or Fi, that is the question

Culture, games and economy, Genesis Universe's dark horse journey

Essentially, GameFi-type projects can be considered as technology aggregation applications that integrate many elements such as DeFi, NFT, Game, and Social together in one application. The project owner often designs the economic model to NFT the in-game assets to drive the application ecology.

In terms of logic, this economic model is actually a kind of pledge mining activity with NFT as the principal. This activity can inject financial attributes into the game and enable the ecological economy to operate by applying liquidity provision mechanisms. Thus, the sustainability of GameFi has gradually become an important criterion for people to judge.

But that is why there is a huge difference between the user profile of GameFi and that of traditional games. Most, if not all, GameFi projects today have been divorced from the essence of gaming.

They are not designed to attract gamers, but more speculators whose main goal is to make profit. In this case, the lack of gameplay seems to be inevitable. But the consequences of the lack of gameplay are not simply not fun.

For GameFi, the lack of gameplay largely means that there is nothing left for the player but profit. So once the game starts to become unprofitable, human nature will drive them to scramble out. The asset control GameFi gives players will make the sunk cost of players infinitely smaller, and it will no longer be a difficult decision to abandon a game.

In this context, once the old players start to flee with their liquidity, the biggest nightmare facing GameFi today – the death spiral – will gradually form under the influence of supply and demand.

And in today’s financial attributes dominated, the death spiral even has a cyclical tendency, which means that almost all GameFi has been reduced to a “race to the bottom” – only the early entry and fast runners can survive.

Is this situation really insurmountable?

Obviously not. But first of all, we have to realize that the problem of gameplay is not just a technical issue, it involves human nature and trade-offs, and it requires a reversal of the thinking of the project side and the whole crypto market to a large extent. The project side needs to be more cautious in adding financial elements to the game, so that the scales of GameFi gradually return to gameplay.

What a game project brings to people should not only tend to be the rational economic value, but also the irrational emotional value, which may be even more important.

Genesis Universe pays particular attention to this.

Perhaps seeing the overly monotonous game mechanics and overly complicated economic model of traditional GameFi, Genesis Universe has uncharacteristically enriched its game system while simplifying its economic model.

The NFT cards of Genesis Universe are divided into two types of cards: collectible cards and game cards.

Collectible cards are divided into 1~5 stars, with the lowest 1-star level and the highest 5-star level, and there is no distinction between camps; this kind of cards can increase the rate of Token output of the owner, and must be collected with low-level cards before the high-level cards will take effect.

Culture, games and economy, Genesis Universe's dark horse journey

The game cards are also divided into 1~5 stars, 1 star level is the lowest, 5 star level is the highest; this kind of cards contains the distinction of camps, divided into Egypt, Greece, Northern Europe, China, India, Japan six camps, each camp of the game cards can be multiple combinations for battle.

The game cards have four different character attributes: attack, defense, physique, and agility, and players can improve the basic level of the cards by participating in the game, and their attributes will increase after the level is improved.

Culture, games and economy, Genesis Universe's dark horse journey

In the design of Genesis Universe, each card has its own use, and the way the cards are acquired greatly increases the uncertainty of the game.

At the same time, players are required to arrange their troops and formations according to the scenario during the battle, which not only increases the playability but also ensures the value of each card. With the diversity of these cards, the gameplay of Genesis Universe has been greatly enhanced.

Out of the Death Spiral

Culture, games and economy, Genesis Universe's dark horse journey

Genesis Universe has been designed with the principle of making players play longer, not just earn more, in its economic model. It has two main revenue models.

One is where players are rewarded for fighting each other, the so-called “P2E” model.

The other is to earn bonuses from a cumulative prize pool, the liquidity mining mechanism.

Players can add liquidity to PancakeSwap with a combination of GUT tokens (earned in-game) + USD, and pledge LPs to Farm in-game for liquidity rewards. The revenue of the pool is also adjusted with the prize pool and the amount of money involved in pledging, allowing players to gain additional passive revenue.

In addition to participating in mining, players can also lock the GUT to join the membership system and enjoy various benefits in the game, such as extra card draws, mining revenue rewards, etc. Genesis Universe also includes an exit penalty mechanism in the lockup, which means that a portion of the exit fee will be deducted when players unlock the GUT. 60% of this fee will be rewarded to other users who lock the GUT, and the other 40% will be directly destroyed to create a deflationary value.

This move can on one hand encourage players to lock the GUT in order to reduce the selling pressure in the secondary market. On the other hand, it can also achieve deflation by destroying the tokens, further empowering the value of GUT.

This economic model of Genesis Universe is quite minimalistic, and the highlight of its design is that the financial nature of the entire system is never separated from the game itself, and to a certain extent, it intentionally draws players’ attention back to the game itself. This approach is undoubtedly quite visionary and reflects Genesis Universe’s consistent philosophy of emphasizing gameplay. And this idea of returning to the original heart of the game may become the only way for GameFi to really break the game.

Conclusion

GameFi is undoubtedly a track worthy of attention, and even in my personal opinion, it is probably the most powerful contender for the next round of bull market breakout. Nowadays, GameFi has almost completely lost the characteristics of Game, and has fallen into the strange circle of excessive financialization.

But this imperfection is not necessarily a bad thing, after all, where the chaos is where the opportunity lies. Of course, we’ll leave that for now.

Back to Genesis Universe, which is an interesting project to watch after the series of explorations mentioned above. It is focused on the GameFi circuit, which has unlimited potential, and values cultural diversity, playability, and sustainability of the economic model. So far, there are hardly any big shortcomings, which is enough to show the sincerity of the development team.

But the current market is indeed a negative element that cannot be ignored, and Genesis Universe undoubtedly still needs to be tested and sharpened by the market. But even so, it is still a project worthy of attention, for which we may wish to wait and see.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/culture-games-and-economy-genesis-universes-dark-horse-journey/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2022-09-22 12:06
Next 2022-09-22 23:09