Project Introduction

Wreck League is a AAA-level real-time PVP fighting game, co-produced by nWay and Animoca Brands, with cross-platform functionality for mobile and PC gaming. Wreck League will feature diverse characters from multiple Web3 projects (initially from the Yuga Labs ecosystem, including Kodas and Bored Apes), and real-time PVP battles. Players will be able to own unique mech parts in the form of NFTs and combine them to create custom combat characters for use in battles.

Author

JUMPENG, Senior Researcher at WJB. Master of Finance from Huazhong University of Science and Technology, with 7 years of industry experience, specializing in Layer1, DeFi, NFT, Layer2, Gamefi, and having researched over 2000 projects, producing over 500 in-depth research reports.

1. Research Points

1.1. Core Investment Logic

The production team of Wreck League, nWay, has utilized the technology and experience accumulated from developing the Power Rangers series of games over the past two years to create this AAA-level real-time PVP fighting game. Combined with the influence within the Animoca Brands community, and a collaboration with Yuga Labs, the first season will incorporate NFT series from Yuga Labs into the game's storyline. Additionally, Animoca Brands co-founder Yat Siu recently tweeted about considering hosting a special Wreck League competition, where players will battle against Yat Siu himself or his selected team, with plans to establish a personal prize pool for valuable NFTs. With these strong partnerships, Wreck League has quickly gained attention within the community. The core investment logic of this game project is as follows:

Team Strength: The project is jointly developed by nWay and Animoca Brands, both of which have rich experience and professional capabilities in game development and community operations. They complement each other in areas lacking in both Web2 and Web3 (such as Web2 teams not understanding blockchain games, and Web3 teams not understanding game production), ensuring the quality and innovation of the game.

Game Performance: After a production period of over two years, the game may have focused on fine-tuning aspects such as game mechanics, rich content, and user experience, providing players with a high-quality gaming experience. From the closed testing activities, Wreck League's visual performance, skill settings, attack sound effects, and control feel are commendable, surpassing the majority of current blockchain games.

Strong Brand Partnerships: Wreck League's partners are its most powerful advantage. In addition to their own well-known and professional development team, the publishing team Animoca Brands, and the licensed content provider Yuga Labs, the project plans to introduce more brand partnerships in the second and third seasons. This combination of partnerships is rarely matched in the blockchain gaming industry. These partners have rich experience, resources, and influence, providing strong support and security for Wreck League. They can also expand the game's market and user base through these partnerships, such as promotion, collaboration, and co-construction, thereby increasing the game's visibility and appeal.

Flexible Game Modes: Wreck League has both Web3 and Web2 versions, supporting cross-platform functionality between mobile and PC. This design allows players to choose the appropriate game mode based on their devices and preferences, while also expanding the game's user base and market share. The Web3 version allows players to enjoy digital asset ownership, trading, and rewards brought by blockchain technology, while the Web2 version allows players to experience the basic functions and fun of the game for free. This design not only addresses the pain points of entry barriers in blockchain games 1.0, but also increases the game's revenue channels. When Web2 players in the game learn that there is another group of people making money through the game, it will stimulate their interest and curiosity in Web3, bringing more players into the Web3 world.

Innovative Game Concept: Wreck League allows players to freely combine mech suits with 10 NFT parts, rather than a fixed single roster. As a result, the first season's arena has over 15 trillion possible mech combinations, greatly enhancing the game's combinability, playability, and imaginative space, far exceeding similar competing products.

In summary, based on the information currently available, Wreck League has demonstrated outstanding comprehensive strength in terms of game playability and quality, team production and development capabilities, distribution and social resources, and brand partnership capabilities, making it a highly anticipated project in the blockchain gaming community. Wreck League has the foundation to stand out in the blockchain gaming community, and it is worth paying attention to its subsequent development and achievements. Of course, this is only a preliminary assessment based on the information currently available, and the final result still depends on the team's efforts, market response, and other external factors.

1.2. Valuation

Currently, Wreck League has not disclosed the details of its token issuance, nor has it undergone financing, so an accurate valuation result cannot be provided.

2. Project Overview

2.1. Basic Project Information

Wreck League is a blockchain-based mech combat game that allows players to assemble their own mechs using NFT parts and compete in real-time PvP battles. The game features high-quality graphics, smooth action, rich skills, and diverse gameplay, meeting players' high standards and demands for fighting games. In the first season, it collaborates with Yuga Labs, incorporating NFT series such as Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Kodas into the game's storyline. It will also release a free Web2 version that does not require NFTs, allowing the Web3 community and Web2 players to play the game together, while also introducing in-game purchases to create a mutually beneficial relationship between NFT holders and traditional players.

2.2. Team Situation

2.2.1. Overall Situation

Wreck League is a project jointly developed by nWay and Animoca Brands, with nWay responsible for game development and operations, and Animoca Brands responsible for investment and promotion. nWay is a game company under Animoca Brands. nWay was founded in 2011, headquartered in San Francisco, California, with Taehoon Kim serving as CEO. According to the official website, nWay has close to 100 employees, with offices in San Francisco and South Korea, with 47 employees in San Francisco and 39 in South Korea. In December 2019, Animoca Brands acquired all of nWay's shares for $7.69 million in cash and stock, retaining its original management team. After being acquired by Animoca, which focuses on blockchain, NFT, and the metaverse, nWay transitioned into a blockchain gaming studio.

2.2.2. nWay Introduction

nWay is a developer, publisher, and technology platform based in San Francisco, focusing on Web3 games for mobile, PC, and consoles. nWay's Web3 game platform, nWayPlay, enables the rapid development and operation of competitive multiplayer cross-platform games, and provides simple entry and exit functions. The company has a strong track record in developing AAA-level mobile and console games, such as "Power Rangers: Battle for the Grid," "Power Rangers: Legacy Wars," and "ChronoBlade." The team consists of leading developers and senior management from Sony, LucasArts, EA, Ubisoft, Capcom, Bandai Namco, Xbox, Warner Bros., Konami, Kabam, Pocket Gems, Zynga, Glu, Jam City, and Machine Zone, collectively creating over a dozen popular titles, including "Marvel Contest of Champions," "Injustice" series, "Star Wars: Force Arena," "War Games," and "Harry Potter: Hogwarts Mystery."

2.2.3. nWayPlay

nWayPlay is a game platform developed by nWay that allows developers to quickly create and operate competitive multiplayer cross-platform games, and enables players to earn rewards through NFTs. The platform features advanced real-time multiplayer technology, supports cross-platform accounts and progress, provides globally distributed dedicated servers, and offers user-customized real-time operational services. It also provides world-class customer service tools, ensuring the stability and reliability of the platform.

After being acquired by Animoca, nWayPlay also began transitioning to Web3, launching an NFT marketplace, and subsequently collaborating with the International Olympic Committee (IOC), securing NFT licensing for the Tokyo and Beijing Olympics, and releasing NFT blind boxes containing Olympic emblems and mascots for purchase and trade on the nWayPlay marketplace. Users can also earn for free by playing Olympic-themed competitive video games connected to the nWayPlay platform. The platform also introduced the Alpha Partner Program, seeking developers in the early stages of development who believe that the nWayPlay platform can enhance their gaming experience, and establishing close partnerships with them.

2.2.4. nWay Core Members

Taehoon Kim is the co-founder and CEO of nWay, responsible for the overall strategy and operations of the company. Taehoon Kim previously served as a senior software engineer at EA, participating in the development of games such as The Sims Online and The Sims 2. Taehoon Kim holds a Bachelor's degree in Computer Science from Seoul National University in Korea and a Master's degree in Computer Science from Stanford University in the United States.

Steve Kuroki is the Chief Creative Officer of nWay, responsible for product design and development. Steve Kuroki previously served as a senior producer at Sony, participating in the production of game series such as God of War and SOCOM. Steve Kuroki holds a Bachelor's degree in Film Production from the University of Southern California.

Daniel Engelhardt is the Chief Business Officer of nWay, responsible for business development and partnerships. Daniel Engelhardt previously served as Vice President of Interactive Entertainment and Games at Lionsgate, overseeing the licensing and operations of brands such as Power Rangers in the gaming industry. He holds a degree in International Relations from the University of California, Los Angeles.

2.2.5. nWay Game Releases

Before being acquired, nWay developed and released three games.

■ Power Rangers: Battle for the Grid:

This is a fighting game based on the TV series "Power Rangers," supporting up to three-player online battles, with a variety of characters, modes, and scenes. The game was released on major platforms in March 2019 and received praise from players and the media, being considered a faithful recreation of the "Power Rangers" franchise. It was the first fighting game to support cross-platform gameplay across all four gaming platforms and PC. Players on PlayStation 4, Nintendo Switch, Xbox One, Stadia, and PC can compete in the same pool, making matchmaking very simple.

■ Power Rangers: Legacy Wars:

This is a card battle game based on the movie "Power Rangers," supporting up to two-player online battles, with a variety of characters, skills, and strategies. The game was released on mobile platforms in March 2017 and achieved over 70 million downloads, being considered an innovative and fun game.

■ Battlepalooza:

This is a battle royale game based on real-world maps, supporting up to 24-player online battles, with a variety of weapons, items, and skills. The game was released on mobile platforms in December 2020 and garnered attention from players and the media, being considered a unique and challenging game.

2.3. Financing Situation

Wreck League has not publicly disclosed its financing situation at present, but we can speculate based on the financing situations of its parent companies, Animoca Brands and nWay. According to Crunchbase data, Animoca Brands has completed a total of 9 rounds of financing since 2011, totaling $263 million, with the most recent round being a Series B financing in May 2021, amounting to $88.88 million, and a valuation of $1 billion, making it a unicorn in the blockchain gaming industry. nWay has completed a total of 4 rounds of financing since 2011, totaling $11.1 million, with the most recent round being a Series A financing in December 2016, amounting to $5 million. In December 2019, Animoca Brands acquired nWay's shares, becoming its holding company.

2.4. Past Development and Roadmap

2.4.1. Past Development

Time Event

2.4.2. Current Progress

Wreck League is currently in the early stages of the first season, with the main focus on the following aspects:

■ Improving the game's technology and features, fixing any potential bugs and errors, and enhancing the game's stability and security.

■ Maintaining close communication and collaboration with Yuga Labs and other partners to ensure the quality and compatibility of mech parts, as well as brand image consistency.

■ Strengthening community management and operations, increasing user engagement and loyalty, addressing user issues and feedback, and improving user satisfaction and reputation.

■ Advancing the sales plan for Mint #1, completing KYC snapshots and revealing box rarity, preparing for unboxing and first game access.

2.4.2. Development Plans and Roadmap

Wreck League has a grand vision and ambition, planning to continuously release new content and features in the future to provide players with more fun and value. Here are some development plans and the roadmap for Wreck League:

■ August 2023: KYC Snapshot: This is an important step to determine eligibility for casting mech parts in the first season. Only players registered on the whitelist before the KYC snapshot can participate in the casting activity.

■ August 2023: MINT 1: This is the first opportunity to purchase boxes containing parts for building and casting mechs in the garage. These boxes will contain Koda series mech parts, as well as parts from other brands.

■ August 2023: Koda Claim: This is an opportunity for Koda series holders to claim a founder mech for free. Each Koda series holder can claim a free founder box for each Koda NFT they own, containing a complete founder mech.

■ August 2023: Box Rarity Reveal: This is when players find out what rarity parts are contained in the boxes they purchase or trade.

■ September 2023: Unboxing, First Game Access Open, Start of Leaderboard Championship: Players unbox, collect mech parts, assemble mechs, and start showcasing their skills and style in real-time PvP matches.

■ Q4 2023: Mint 2, High Stake, Mint 3, and Wreck League Championship Cup: Players can participate in more casting activities, win higher value rewards, collaborate with more brands, and compete against the strongest opponents. The Wreck League Championship Cup is an exclusive invitational tournament, where only the most outstanding players can participate and compete for ultimate glory and rewards.

■ Early 2024: Launch of Web2 Free Version and NFT to IAP Release System, while introducing more high-quality Web3 and Web2 brand partners, and increasing the variety and creativity of mechs and parts.

2.5. Social Media Data

As of August 18, 2023, Wreck League has shown strong performance on social media platforms, indicating high project popularity. Currently, Wreck League's Twitter account [@WreckLeague] has attracted over 25,000 followers, with daily tweet interactions exceeding 3,000. Additionally, the Discord group has frequent updates and interactions, attracting over 41,000 players and fans, becoming one of the most popular channels. Players and fans on these platforms have shown a high level of interest and anticipation for the game, actively participating in whitelist registrations, community activities, feedback collection, and more.

Here are the specific data for each platform:

Twitter: Followers 24,527, Daily Tweet Interactions 3,100, Daily Growth Rate 5%;

Discord: Members 41,933, Daily Online 3,641, Daily Growth Rate 4%;

3. Project Analysis

3.1. Game Story Background

In the future world, humanity has fallen into chaos and crisis due to resource depletion and environmental pollution. Some people choose to leave Earth in search of a new home for survival. Others choose to stay on Earth and use discarded mechanical and electronic parts to create a variety of mechs for self-protection or to participate in underground illegal competitions. These competitions are called Wreck League, an extreme mech combat sport that attracts countless spectators and gamblers. Participants not only face attacks from other mechs but also deal with various obstacles and traps on the field. Winners can earn substantial rewards and reputation, while losers may lose everything.

The game story background of Wreck League is closely related to Yuga Labs' NFT series. The Bored Ape Yacht Club is a club composed of bored apes who own their yachts and islands, living a luxurious and carefree life on Earth. The Mutant Ape Yacht Club is an organization composed of apes mutated by radioactive contamination, engaging in secret and dangerous activities on Earth. The Bored Ape Kennel Club is a group of pet dogs from the Bored Ape Yacht Club, enjoying a comfortable and happy life with their owners. Otherside Kodas is a group of mysterious beings from parallel universes, possessing extraordinary abilities and intelligence.

In Wreck League, these different characters and factions will collide and conflict with each other, creating countless stories and dramas.

3.2. Gameplay

Wreck League is a real-time PvP fighting game that supports cross-platform gameplay on mobile and PC, and offers two versions: Web3 and Web2.

■ The core gameplay of the game allows players to battle with their mechs, defeating opponents by controlling the mech's movement, attacks, defense, and skills.

■ One of the game's features is mech customization and assembly, allowing players to build their mechs using different NFT parts based on their preferences and strategies. Each mech is composed of 10 different NFT parts, which determine the mech's appearance and performance. Some parts provide basic attacks, while others offer special skills, improved energy regeneration, and better blocking duration. These collectively determine the mech's gameplay style. This means that players can design their mech's available combinations by choosing parts that contain combined actions, making the way players design their mechs just as important as their gaming skills.

■ The game also offers various match and tournament modes, allowing players to participate in different types and difficulty levels of challenges and earn rewards of different values and rarities. Matches and tournaments can be organized and managed by official or community members, and some matches may require a specific number or type of mechs to participate. Rewards for matches and tournaments can include tokens, NFTs, cash, or other items. The game will also introduce a special match mode called "High Stake," allowing players to bet on their own or their opponent's mechs or parts and gain or lose them based on the match results.

3.3. Core of the Game

3.3.1. Mech Basics

Each mech is composed of 10 NFT parts: 5 body parts and 5 attachments.

Each body part and attachment is visually distinguished based on its constructor and rarity. In Season 1, there are 5 builders, 5 rares, and 8 Yuga Mech, allowing players to mix and match them for customized combinations.

These parts determine the mech's visual appearance, combat abilities, and gameplay style. Top players closely monitor how each part works together (or doesn't work together), as the right combination can give their mech a competitive advantage over opponents.

① Body Parts

Body parts determine the skills used by the mech in combat, including head, torso, weapon type, legs, and S-Bot. Each part is associated with different types of skills, providing a balanced arsenal of offense, defense, and utility.

② Weapon Types

Weapon types have the most significant impact on gameplay style, with 5 different weapon types: Drillfist, Gigablade, Sawlance, Spikeball, and Starshot.

③ Attachments

Attachments customize the visual appearance of body parts and enhance the mech's performance statistics in combat, including crest, badge, pauldron, knee guard, and antenna.

■ Each attachment has a designated performance statistic, such as energy regeneration, maximum energy, block regeneration, critical hit chance, and supercharge.

■ Crest: Energy Regeneration - promotes mech energy regeneration

■ Badge: Maximum Energy - measures mech energy capacity

■ Pauldron: Block Regeneration - increases the regeneration of mechanical blocks after depletion

■ Knee Guard: Critical Hit Chance - measures the frequency of increasing damage and non-damage skills

■ Antenna: Supercharge - tracks the speed at which the supercharge meter charges when dealing and receiving damage

■ Each attachment also has two core performance statistics randomly assigned based on the part's constructor attributes, including health, offense, armor, block proficiency, superpower, and critical hit power. These statistics determine the mech's basic combat abilities.

■ Health - indicates the overall health level of the mech

■ Offense - tracks the damage level caused by the mech's basic attacks

■ Armor - measures the damage caused by unblocked basic attacks from enemy mechs

■ Block Proficiency - measures the damage caused by blocked basic attacks from enemy mechs

■ Superpower - indicates the damage caused by the mech's special and ultimate skills

■ Critical Hit Power - measures the effectiveness of the mech's critical hits

Each part belongs to a mech set, which is a group of similar themed parts determined by a combination of constructor, weapon set, and rare attributes. Mech sets affect the skills and statistics associated with the parts. In Season 1, there are 80 Yuga-level mech parts, which will be the rarest parts, even rarer than legendary.

④ Constructors

Constructors refer to the manufacturer or brand of the parts, determining the parts' themes and styles.

In Season 1, there are nine constructors, including:

■ Prime-8: A human organization from Earth, inspired by apes, creating powerful and agile mechs. Their parts have yellow and black stripes and ape faces, suitable for various combat scenarios.

■ Psycrane: A mysterious organization from the East, symbolized by cranes, creating elegant and deadly mechs. Their parts have white and red colors and crane feathers, suitable for long-range attacks and speed.

■ Ironscale: A noble organization from Europe, worshiping dragons, creating magnificent and robust mechs. Their parts have gold and green colors and dragon scales, suitable for melee attacks and defense.

■ Infestech: A rebellious organization from the Americas, represented by demons, creating sinister and cunning mechs. Their parts have black and red colors and demon horns, tails, and wings, suitable for critical damage and special effects.

■ With brown and gray colors and vulture feathers, beak, and claws, suitable for recovery and recycling.

■ Koda: An advanced culture from space colonies, with transcendent technology. They are one of Yuga Labs' partners, providing the rarest and most powerful mech parts. They have four special effects and have the appearance of a character or creature from the Yuga series (Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, or Otherside Kodas).

■ MAYC: An ancient civilization from Antarctica, mastering the power of ice and fire. They are one of Yuga Labs' partners, providing the rarest and most powerful mech parts. They have four special effects and have the appearance of a character or creature from the Yuga series (Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, or Otherside Kodas).

■ BAKC: A wild organization from Australia, symbolized by kangaroos, creating agile and robust mechs. They are one of Yuga Labs' partners, providing the rarest and most powerful mech parts. They have four special effects and have the appearance of a character or creature from the Yuga series (Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, or Otherside Kodas).

■ BAYC: A peaceful organization from North America, symbolized by bears, creating gentle and sturdy mechs. They are one of Yuga Labs' partners, providing the rarest and most powerful mech parts. They have four special effects and have the appearance of a character or creature from the Yuga series (Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, or Otherside Kodas).

⑤ Rarity

Rarity refers to the scarcity and value of the parts, determining the parts' attribute values and special effects.

In Season 1, there are nine rarities, including:

■ Common: The most common parts, with no special effects, but still providing basic performance statistics.

■ Rare: Less common parts, with one special effect to enhance a specific aspect of the mech in combat.

■ Epic: Very rare parts, with two special effects to provide more combat advantages.

■ Legendary: Extremely rare parts, with three special effects to give the mech a unique combat style.

■ Yuga: The rarest and most powerful parts, only obtainable through collaboration with Yuga Labs. They have four special effects and have the appearance of a character or creature from the Yuga series (Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, or Otherside Kodas).

■ BAKC: Parts only obtainable through collaboration with Bored Ape Kennel Club, with four special effects and the appearance of a dog from Bored Ape Kennel Club.

■ MAYC: Parts only obtainable through collaboration with Mutant Ape Yacht Club, with four special effects and the appearance of a mutant ape from Mutant Ape Yacht Club.

■ BAYC: Parts only obtainable through collaboration with Bored Ape Yacht Club, with four special effects and the appearance of a bored ape from Bored Ape Yacht Club.

■ Otherside Kodas: Parts only obtainable through collaboration with Otherside Kodas, with four special effects and the appearance of a mysterious creature from Otherside Kodas.

3.3.2. Defining Gameplay Style

Each constructor has a specific gameplay style, largely determined by its skills and stat distribution. By mixing and matching parts from different constructors, players can create a mech with a unique gameplay style that suits them personally.

Simple Example

Suppose a player wants to build a mech that sacrifices survivability for high burst damage output and versatile combat range. They can combine the following:

The combination of the Sawlance weapon arm and torso of this mech provides 3 different range attacks and a method to slow down the opponent's skill output. Combining it with the long-range attack of the Prime-8 S-Bot and the versatile Twisting Kick of the Koda legs will be able to hit opponents anywhere in the arena. Since in this hypothetical scenario, opponents will retaliate with their own attacks, it is necessary to equip the mech with a Prime-8 head so that healing can be done through system recovery in case of being hit.

In terms of core statistics, this is an offense-oriented mech example, so focusing on offense and critical hit power may be a wise move. Prioritizing health over armor and block proficiency may also be a good idea, as the strategy is to attack first, but having enough health to heal through system recovery before meaningful damage is taken.

The above is a possible example of mech assembly provided. Of course, players can also choose different part combinations according to their preferences and creativity to create a mech that suits them. In the first season of Wreck League, there are a total of 133 sets of mech suits, so players can create almost endless custom mech combinations.

3.3.3. Mech Assembly

Players can assemble and disassemble mechs in the Garage section of the Wreck League website. To assemble a mech, players need all 10 parts (body and attachments). The minting process will lock the player's 10 NFT parts and grant the player a new mech NFT composed of these parts. After the transaction is completed, the player will be redirected to the garage to view the newly minted mech. Players can choose different part combinations according to their preferences and strategies to create a mech that suits their gameplay style and combat abilities.

3.3.4. Mech Disassembly

Players can also disassemble mechs to unlock 10 NFT parts. This will destroy the mech NFT. In the "My Mechs" section of the garage, select the mech to be disassembled. After selection, a prompt to pay GAS fee will be seen. After the transaction is completed, return to the "My Parts" section of the garage to view the unlocked/recovered parts. Disassembling mechs allows players to reuse or exchange parts they do not need or want, or provides them with more flexibility and creativity to build new mechs.

3.4. Collaboration with YUGA Labs

The collaboration between Wreck League's first season and Yuga Labs is mainly reflected in the following aspects:

1) Through collaboration with Yuga Labs, Wreck League is part of the expansion of the Yugaverse as a part of Bored Ape/Otherside. A carefully crafted storyline integrates Yuga characters into the universe of Wreck League, including some key characters from Bored Ape, Kennel Club, and Otherside.

2) Players are provided with a free Founder Mech, which includes a fully built mech that cannot be disassembled. The Founder Mech is customized based on the player's ownership of one of the four Yuga series (Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Kodas).

3) Players are provided with a Mech Maker system, allowing players to freely assemble and customize their own mechs. Wreck League has designed 20 unique mech parts for each Yuga series, so a total of 80 parts can be mixed and matched to create almost endless Yuga mechs. Players can also mix and match Yuga mech parts with Wreck League mech parts to create original works in the Wreck League garage.

4) Players are provided with a Mech Arena, allowing players to use their mechs to participate in various matches and challenges. Players can use Yuga mech and mech parts to enhance gameplay and add unique elements to their mech collections.

3.5. First Season Minting Events

In order to give players the opportunity to obtain mech parts, the game also plans to hold three minting events in the first season, allowing players to purchase and obtain Genesis Mint Boxes and Founder Boxes. These boxes are a special type of NFT containing random mech parts that players can use to create their own mechs.

These boxes have different rarity levels, from Common to Legendary or Yuga, determining the range of rarity of their contents. Together, these boxes add surprises and opportunities to the collecting experience: purchasing one or more boxes can guarantee a certain number of parts to create mechs, but not necessarily the parts needed to assemble mechs.

Yuga mech parts will also be distributed through three MINTs, starting with the Koda mech in Mint 1, followed by the Kennel Club and Mutant Ape mechs in Mint 2, and finally the Bored Ape mechs in Mint 3.

1) MINT 1, also known as Genesis Mint

The first minting event (Mint 1) will take place from 9:00 am on August 17 to 9:00 am on August 18, and only players who have been KYC verified and whitelisted can participate. In this minting event, players can purchase two types of boxes: Majestic and Booster.

The Majestic box contains 10 random parts that can be used to assemble a complete mech. The Booster box contains 5 random parts that can be used to enhance existing mechs or build new mechs. There are 25,000 Majestic boxes available, priced at 150 APE$, and 5,000 Booster boxes available, priced at 50 APE$. Players can only use Ape to purchase the boxes and will need some ETH to pay for GAS.

In this minting event, holders of Koda NFTs will have an increased chance of obtaining rare mechs. If they choose to whitelist and participate in minting by purchasing one or more boxes, they will automatically have the chance to obtain boxes of higher rarity. In addition, holders of Koda NFTs can also claim a free Founder Box starting on August 31 (the rarity of this box will be revealed one week after minting), which guarantees the inclusion of a Founder Mech.

In this minting event, the rarity range of the boxes in the Shipwreck Alliance ranges from Common to Rare, Epic, Legendary, and Yuga levels. The available boxes for each rarity level are listed in the image below.

B. Rarity of Parts Series

The rarity of the boxes determines the range of rarity of their contents. In other words, the rarity range of these parts corresponds to the rarity of the opened boxes.

For example, if a player opens a Legendary Majestic box, they can obtain 5 Legendary parts, 3 Epic parts, and 2 Rare parts. The only exception is the Universal box in Majestic and Booster boxes, which contains parts of common rarity. The table below explains the rarity composition of parts of each box by rarity type.

Release Schedule (all dates are in 2023)

The blind boxes purchased by players will be revealed in the following order: MINT—Announce Rarity—Open Box—MINT Parts

Building Mechs

Once the parts are claimed and appear in the wallet, players can assemble mechs in the garage and then battle with other players. The more mech parts owned, the more customization and creation of powerful mechs can be achieved, tailored to the player's combat style.

Participating in Matches

Once mechs are built, players are ready to compete in tournaments and become one of the greatest Wrecks in the league, dominating the leaderboards. Owning more mechs not only diversifies the content players can bring into battles but also provides more access to exclusive game events and arenas, as well as advantages related to future minting and claiming.

2) Mint 2

The second minting event (Mint 2) will take place in the third quarter of 2023. Holders of Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC) NFTs will enjoy the advantage of increased rarity and free Founder Boxes in this minting event. Other event details are similar to MINT1.

3) Mint 3

The third minting event (Mint 3) will take place in the fourth quarter of 2023. Holders of Bored Ape Yacht Club (BAYC) NFTs will enjoy the advantage of increased rarity and free Founder Boxes in this minting event. Other event details are similar to MINT1.

About Founder Boxes

Founder Boxes and Founder Mechs are special NFTs that can only be claimed for free by holders of Yuga Labs' NFT series (Koda, MAYC, BAKC, and BAYC). Each series' holders can claim the same number of Founder Boxes as the NFTs they own after the respective minting event ends. Founder Boxes come in 6 rarity levels (similar to mechs).

Each Founder Box contains a Founder Mech of the same rarity as the box. Each Founder Mech consists of 10 different types of parts but cannot be disassembled back into parts. The rarity of each part is determined by the rarity of the mech. For example, a Legendary Founder Mech consists of 2 Rare parts, 3 Epic parts, and 5 Legendary parts. Each rarity level is also divided into two types: Random Assembly and Planned Set. Random Assembly is randomly pieced together from parts of different series and styles, while Planned Set is a complete and coordinated set of parts designed by developers.

Locking and unlocking of Founder Boxes and Founder Mechs: When players claim Founder Boxes, they will be locked and restricted from trading until a specified date when they will automatically open and convert into Founder Mechs. When players obtain Founder Mechs, they will also be locked and restricted from trading until the player wins at least three battles in the game using them. The purpose of locking and unlocking is to protect the interests of players and prevent them from unknowingly selling or trading valuable NFTs.

3.6. NFT to IAP Release System

The NFT to IAP release system is a key innovative system (patent pending) that bridges the gap between the Web3 and Web2 communities, bringing the two groups together for a unified experience. The system will be launched in early 2024 alongside the Web2 free version of Wreck League.

1) Web3 Version: Battle of Mech Owners

Wreck League's Web3 version is designed specifically for mech NFT owners, providing an opportunity to battle with their own creations. Competing face-to-face in a live environment with uniquely owned works has a powerful drive to enhance the competitive gaming experience and make it more meaningful.

2) Free Version: Collaboration of Gamers and Creators

The F2P version of Wreck League aims to provide broader playability and fun. The game in this version is available for anyone to download and play without owning Mech NFTs and follows the common free-to-play model in mobile and PC games.

In this version, players can purchase mechs created by other players. These mechs are not NFTs but rather in-app purchase (IAP) options. When a player purchases a mech, a portion of the income is shared with the NFT creator/owner, promoting a community-driven economic system.

The purpose of this system is to achieve interaction and integration between Web3 and Web2, allowing more players to enjoy the game content and experience of Wreck League. Through this system, Web3 players can give more value and meaning to their NFT parts and also gain additional sources of income. Web2 players can acquire more in-game parts by purchasing IAP items and also get exposure to the world of Web3.

The process of the system is as follows:

■ Web3 players can select the NFT parts they want to release and set the description and price of the IAP item on Wreck League's official release platform. The platform will generate an ID and QR code for the IAP item based on the brand, type, and rarity of the NFT parts provided by the player.

■ Web3 players can share the ID and QR code of the IAP item with other players or promote it on social media. Web2 players can enter the purchase page of the IAP item by scanning the QR code or entering the ID.

■ On the purchase page of the IAP item, Web2 players can view the details and reviews of the IAP item and complete the purchase with fiat currency. After the purchase, Web2 players will receive the corresponding in-game parts and can use them to assemble their mechs.

■ After someone purchases the IAP item released by a Web3 player, the Web3 player will receive a certain percentage of IAP revenue. The IAP revenue will be distributed to the Web3 player's wallet in the form of WRECK tokens.

4. Industry Space and Potential

4.1. Track Situation

4.1.1. Project Classification

Wreck League is an ACTION type game and belongs to the blockchain gaming track.

4.1.2. Market Size

According to Footprint.network data, the blockchain gaming track has shown some interesting phenomena and trends recently. A brief analysis and summary of the blockchain gaming track are conducted from four aspects: on-chain daily active players, on-chain game trading volume, game player rankings, and blockchain gaming track investments.

Firstly, from the perspective of on-chain daily active players, there are currently around 843,019 daily active players on-chain, and the GameFi trading volume on-chain has exceeded 4.6 million USD. Ethereum and BSC have the highest number of on-chain game players, each accounting for over 25%. The following image shows the details:

Although Ethereum and BSC currently have the highest number of on-chain game players, the daily player activity on WAX and Hive chains has performed the best, with daily player activity on these two chains consistently staying above 200K, higher than the on-chain game daily activity of other public chains. This indicates that on-chain games on WAX and Hive chains have higher user stickiness and retention rates, possibly related to their game types and gameplay.

Secondly, from the perspective of on-chain game trading volume, the trading volume of Axie on the Ronin chain currently accounts for the highest proportion, reaching 125,191 USD. This is followed by Merit Circle, with a daily trading volume of 795,320 USD. The details are as follows:

Once again, from the perspective of game player rankings, the top ten GameFi projects are as follows:

It can be seen that the player numbers for the two blockchain games, Alien Worlds and Farmers World, are both above 120k, far higher than the third-ranked SuperWalk (with around 40k players). Both of these games are virtual world games based on NFTs, allowing players to explore, mine, and trade on different planets. This type of game offers strong immersion and freedom, satisfying players' imagination and creativity in virtual worlds.

Lastly, from the perspective of blockchain gaming track investments, the total investment amount and rounds in the blockchain gaming track are as follows:

It can be observed that after the bull market in January of this year, the investment amount in the blockchain gaming track has gradually decreased, and the financing rounds are in the early seed or strategic rounds. This may reflect a cooling interest in the blockchain gaming track, possibly due to a lack of high-quality projects or their yet-to-be-public status. However, it is worth noting that from September 2021 to June 2022, the blockchain gaming track received a large amount of funding, and these projects may gradually go live between 2024 and 2025, potentially sparking a new wave of blockchain gaming enthusiasm. The entire track is still highly anticipated.

Currently, the overall activity in the blockchain gaming market remains low. According to the "2023 Q2 Global Blockchain Gaming Industry Report," the three older-generation blockchain games, Alien Worlds, Farmers World, and Splinterlands, still hold over 50% of the market share on-chain, maintaining their strong positions for over a year. New blockchain game projects need to adapt to new market trends and user demands during the development process, drawing inspiration and learning from these three successful cases in terms of gameplay, community building, and incentive mechanisms.

4.1.3. Core of Blockchain Gaming

In 2021, the success of Axie Infinity triggered a wave of Play to Earn enthusiasm. In the second half of 2021, numerous blockchain game projects emerged, creating a stark contrast with traditional games.

However, the Play to Earn economic system is not without flaws. Most blockchain game projects exhibit clear characteristics of a Ponzi scheme, including Axie Infinity. A Ponzi scheme is a financial structure that transfers value provided by later participants to early participants. This means that the sustainability of GameFi projects requires continuous participation of new users. However, some development teams have not focused on designing a rational token economic model, and some are only interested in quickly attracting funds from the market and then exiting. This has led to the rapid demise of some GameFi projects.

According to the "2023 Q1 Global Blockchain Gaming Industry Report," the average lifespan of GameFi projects does not exceed three months. The typical development process of GameFi projects is as follows: early development stage, speculators enter the project -> Token speculation sentiment rises, prices increase -> Speculators sell tokens -> Token prices fall -> Fear leads to actual users selling tokens -> Token prices further decline -> Prices fall below the critical point where user returns are lower than costs -> Due to low economic returns, users continue to exit -> Game Over.

Upon analysis of these projects, it is evident that current blockchain games not only have economic model issues but also have the following pain points, for which Wreck League proposes its own solutions:

1) Barrier Pain Points

Currently, the entry method for most blockchain games requires users to first purchase tokens or NFTs to participate. Additionally, users need to register a wallet, deposit funds to purchase the corresponding tokens or NFTs, transfer the tokens or NFTs to the wallet from an exchange or marketplace, and retain a certain amount of tokens in the wallet to support gas fees. This entry method increases user operational and time costs, reducing the enthusiasm of new users and excluding a large number of Web2 players.

Wreck League's Solution:

Wreck League differs from most blockchain games in its entry method, offering two versions: the Web3 version and the Web2 version. By providing both versions, Wreck League meets the needs and habits of crypto users while reducing the entry barriers and operational difficulties for traditional players. Additionally, through the NFT to IAP system, Wreck League empowers NFTs for Web3 players. When Web2 players discover another group of players making money through this game, it can gradually guide them into the Web3 world.

2) Gameplay Pain Points

Firstly, the playability of most blockchain games is significantly lacking compared to traditional games. They often lack attractive elements for users, such as exquisite graphics, rich gameplay, and interesting stories. 70% of blockchain game users are not interested in the game itself and are only there for speculation.

Secondly, most Web2 players find it difficult to adapt to the new gameplay highly integrated with native tokens in Web3, and may even have a strong resistance to it. They need to adapt to complex entry methods, high transaction costs, and fluctuating returns. According to the "2023 Q1 Global Game User Survey Report," 80% of Web2 players are not interested in or do not understand Web3 games.

Lastly, most Web3 games adopt a permanent ownership model, where users have complete ownership of in-game assets. While this model protects user interests, it also brings some risks. For example, it is prone to whale users hoarding and manipulating in-game assets, affecting the fairness and balance of the game. Additionally, the lack of deflation mechanisms to regulate the in-game economy affects the sustainability and stability of the game.

Wreck League's Solution:

The nWay development team behind Wreck League has over 12 years of experience in developing fighting games and has a team of over 100 game developers. They are believed to have strong control over the playability of the game compared to most Web3 teams.

Additionally, Wreck League belongs to the Action game category, one of the favorite game types for Web3 players. According to the "2023 Q1 Global Blockchain Game User Behavior Analysis Report," Web3 players have a clear preference for game types, favoring fast-paced, highly interactive games. Action, Strategy, RPG, and Shooter games are the most popular game types, with players typically spending 10-15% of their total game time on these types of games.

3) Development, Design, and Operation Pain Points

Currently, most blockchain games on the market enter the blockchain gaming field through tokenization, resulting in a lack of alignment with crypto users. However, overall, the development team's capabilities have improved, with an increased proportion of self-development. Yet, there is a lack of innovative design in game mechanics. Additionally, traditional teams lack the ability to mobilize the community from the bottom up: the use of social media accounts such as Discord/Twitter, the image of the founding team in the community, and whether the game mechanics are able to meet the demands of crypto users and consider their usage habits. Lastly, native crypto teams lack experience in game value design and game economic model adjustments, lacking proficient means to maintain the stability of the game's economic system.

Wreck League's Solution:

Wreck League is a game developed by the nWay team over a period of more than two years, tailored to native Web3 users. The game's development capabilities and innovative mechanisms are beyond doubt. Although nWay was previously a traditional game team, after being acquired by Animoca Brands, it successfully transitioned into a Web3 game team. As a leader in the blockchain gaming field, Animoca Brands' strong resources in the blockchain gaming field provide powerful technical and operational support. This is evident from Wreck League's collaboration with Yuga Labs in the first season, which not only avoids the drawbacks of pure native crypto teams but also addresses the lack of community mobilization capabilities in traditional teams.

4.1.4. Competitive Projects

Wreck League is an ACTION type blockchain game, and there are many games in this category on the market. We further subdivide it into fighting and esports games. Strictly speaking, Wreck League does not have direct competitors, but we have selected several well-performing fighting blockchain games on the market as competitive projects.

1) Cyber Arena

Cyber Arena is the first real-time metaverse Web3 multiplayer P2E fighting game, built on the Dogechain. The game is compatible with all popular web wallets, bridges with top blockchains, and has been adopted by major institutions and global brands.

2) Crypto Legions

Crypto Legions is an NFT game based on the BSC chain, set in the 31st century world, allowing players to collect and train different warriors and beasts, then battle other players or monsters to win rewards and honor. The game uses an innovative Omni-Balanced Oracle system to ensure fairness and sustainability.

3) DexiKnights

DexiKnights is an NFT game based on blockchain and is the first game product of Dexioprotocol, released in October 2021. The game is an arcade-style sword fighting game that allows players to compete fiercely with other players or the environment in different scenarios, using upgradeable NFTs as weapons and equipment.

4) Fight Legends

Fight Legends is a 2.5D fighting game based on blockchain, using cryptocurrency and NFTs to create a truly unique fighting game experience. Players can collect in-game assets and battle with other players for honor and glory.

5) Competitive Comparison

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In a horizontal comparison across multiple key dimensions such as community engagement, financing status, team qualifications, game visual effects, and launch status, Wreck League has shown significant advantages. Additionally, Wreck League also has additional advantages such as social resources, further enhancing its market competitiveness. Therefore, from a comprehensive analysis, Wreck League holds a prominent position in the corresponding field.

Attached: @TierMaker has created a classification table for Web3 games, from S-level to C-level. Wreck League ranks in the second level, with high expectations and evaluations from the public.

4.2. Token Economic Model Analysis

Wreck League has not yet disclosed its official economic model.

4.2.1. Token Utility

Wreck League has not issued tokens yet, but based on the overall game analysis, if tokens were to be issued, they might have the following functions:

■ Part forging: Players can use tokens to forge parts in the game, with the forging cost of each part determined by its rarity and brand cooperation. The forged parts are randomly generated, and players have a chance to obtain rare or limited parts.

■ Purchase of parts: Players can use tokens to purchase parts from other players within the game or on platforms like OpenSea, with each part's price set by the seller and influenced by market supply and demand.

■ Sale of parts: Players can use tokens to sell parts they don't need within the game or on platforms like OpenSea, with each part's price set by the seller and influenced by market supply and demand.

■ Participation in community activities and competitions: Players can use tokens to participate in community activities and competitions, such as voting, guessing, auctions, etc., to win more tokens and part rewards.

■ Governance rights: Token holders can participate in the governance of Wreck League, voting on important decisions for the game, such as adding or modifying game rules, increasing or decreasing game rewards, introducing or canceling brand partnerships, etc.

4.2.2. Token Value Assessment

Token value assessment is mainly based on the following aspects:

■ Game user scale and activity: The scale and activity of game users are important indicators of a game project's success and also significant factors affecting token value. Generally, the larger the scale and activity of game users, the higher the token value, and vice versa. According to our predictions, Wreck League is expected to attract and retain a large number of players in the coming months, especially those who enjoy fighting games and NFT collections, as well as investors interested in Web3 games, thereby increasing the scale and activity of game users and subsequently enhancing the value of the token.

■ Completeness of game content and features: The completeness of game content and features is an important factor affecting player experience and satisfaction, as well as token value. Generally, the more complete the game content and features, the higher the token value, and vice versa. Wreck League has high-quality graphics, smooth action, rich skills, and diverse gameplay, meeting players' high standards and requirements for fighting games. Additionally, Wreck League is a project that is constantly improving and innovating, planning to introduce more high-quality brand partners and continuously improve game content and features, thereby enhancing player experience and satisfaction, and subsequently increasing the value of the token.

■ Influence of brand partners: The influence of brand partners is an important factor affecting game visibility and attractiveness, as well as token value. Generally, the greater the influence of brand partners, the higher the token value, and vice versa. Wreck League has already partnered with well-known brands such as Yuga Labs, providing special treatment to holders of these brands. These brands have high visibility and influence, with a large number of fans and supporters in the NFT market. Therefore, through these partnerships, Wreck League can enhance its visibility and attractiveness in the NFT market, thereby increasing the value of the token.

5. Preliminary Value Assessment

5.1. Core Issues

What stage is the project in its business cycle? Is it in the mature stage or in the early to mid-stage of development?

Wreck League is currently in the early stage of development. The game has not officially launched yet, only the name, concept, and gameplay have been announced, and whitelist registration has been opened. The game still needs more testing, optimization, and promotion to attract more users and capital, achieving a larger scale and impact.

Does the project have reliable competitive advantages? Where do these competitive advantages come from?

Wreck League has certain competitive advantages, mainly stemming from its excellent team strength, innovative game concept, strong brand partnerships, flexible game modes, and unique NFT to IAP release system. These aspects differentiate Wreck League from other blockchain games, providing a more diverse and high-quality game product and service, as well as more value and returns to players.

What are the main variable factors in the project's operation? Are these factors easy to quantify and measure?

User numbers and activity: User numbers and activity are important indicators of a game project's success, reflecting the game's attractiveness and retention of players. User numbers and activity can be quantified and measured through data such as on-chain player numbers, daily active users, monthly active users, retention rate, churn rate, etc.

Game revenue and expenses: Game revenue and expenses are important indicators of a game's profitability and sustainability, reflecting the game's value capture and distribution to players. Game revenue and expenses can be quantified and measured through data such as loot box sales, mech sales, game platform downloads, advertising revenue, total expenses, average expenses, net profit, profit margin, etc.

Community engagement and satisfaction: Community engagement and satisfaction are important indicators of game community building and governance effectiveness, reflecting player trust and loyalty. Community engagement and satisfaction can be quantified and measured through data such as the number of votes, voter turnout, feedback quantity, feedback quality, ratings, reviews, etc.

What is the project's management and governance approach?

The project's management and governance approach is transitioning from early official operations to decentralized DAO governance.

6. Project Risks

From the official progress and roadmap, Wreck League is still in the early stage, which brings a lot of uncertainty.

Economic model risk: To date, Wreck League has not disclosed its token and game economic model. Due to the problems faced by blockchain 1.0 in the death spiral model, Wreck League's solution strategy is not yet clear. If Wreck League cannot propose an innovative economic model, it may face significant challenges in the future. This uncertainty essentially increases the project's risk, and therefore, the future development trajectory remains to be observed.

Risk of niche game category: In the perception of most players, fighting games have always been considered a high-threshold, difficult, and relatively hardcore niche game type. Therefore, it is still difficult to determine whether Wreck League will be welcomed by Web3 players and even free game players.

Competition pressure risk: According to track analysis data, the actual number of players in current blockchain games is relatively small, with approximately 800,000 daily active users and an undetermined human-to-machine ratio. Additionally, three games almost occupy 50% of on-chain activity, further highlighting the challenges faced by the blockchain gaming industry. In this situation, for Wreck League to capture players' attention, break through the current situation, and even lead the development of the entire blockchain gaming industry, it faces significant challenges.

Monetization pressure risk: Wreck League began production in 2020 and did not receive funding during the peak of the blockchain gaming track in 2021. It is currently unclear whether this is due to the team's confidence in the project or if they encountered difficulties in funding. Considering that the project has been in development for over two years, the team may face pressure for monetization. In this situation, it is still uncertain whether the project will rush to launch. There are many aspects we need to keep an eye on.

7. References

https://wreckleague.xyz/  Wreck League Official Website

https://docs.wreckleague.xyz/wreck-league/what-is-wreck-league

Wreck League DOCS

https://twitter.com/WreckLeagueHQ  Wreck League Official Twitter

https://medium.com/wreck-league Wreck League Official Medium

https://nway.com/nwayplay/ nWayplay Official Website

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