Sipher Odyssey is a Web3 shooting role-playing game with a relatively simple story.
By 1912212.eth, Foresight News
Recently, the Web 3 gaming sector has started to heat up, with previously quiet tokens like StepN and TreasureDAO showing strong price performance. Meanwhile, the token price of Sipher Odyssey's SIPHER, which only received funding at the end of the last bull market, has skyrocketed sixfold in just one month, a very impressive feat.
In October of this year, Alex Svanevik, the founder of the blockchain data analysis platform Nansen, mentioned that in the next 6 months, we will see the release of games that have been in development for over 2 years. Although most of them will fail, a few may achieve huge success, and SIPHER Odyssey is one of them.
It's time to learn about this Web3 shooting game.
I. Gameplay
Sipher Odyssey is a Web3 shooting role-playing game with a relatively simple story. In a dreamy universe full of alien worlds, vivid characters, and dangerous mysteries, players embark on a virtual universe legend created by an AI similar to a god, allowing humanity's future to be reborn, and they must fight to explore and protect their new home.
Players can choose from various weapons in various game modes to shoot enemies or complete objective tasks to achieve victory. The game map design is unique, including various environments and scenes such as Kroll Island, the Himalayas, Doomsday Construction, Abandoned City, and Desert Treasure Island. Each map has multiple hidden sniper points, different cover options, and other things that can help players perform at their best.
Gameplay includes PvP, PvE, and open-world metaverse. Players need to maneuver their heroes flexibly, dodge traps and enemy attacks, and defeat enemies.
In the PvE dungeon mode, players collect characters and use them to embark on adventures, fighting against hostile creatures and robots, and clearing dungeons within a specified time. Players can improve their strength by crafting and upgrading equipment, unlocking new heroes, completing faction missions, and continuously advancing the storyline to explore the Siphers universe.
In PvP mode, players form 3-person teams to control characters and battle against other players. The gameplay is similar to a hero brawl, where players must kill enemies and survive within a specified time. Players can earn token rewards by learning new skills, unlocking new characters, weapons, professions, and winning battles, as well as completing weekly/monthly/quarterly tournaments. Players can also join factions and guilds, recruit members with strong abilities to fight for you, and more.
The open-world metaverse includes social interactions, equipment forging, NFT cloning, etc. Players can earn economic benefits by trading these on-chain assets in the in-game trading market. The project also encourages players to build their own communities in this open world, form their own communities, and plans to open up ways for players to earn token rewards through player game live streaming, fan rewards, and more in the future.
Siphers Character NFT
NFTs have different rarities, including normal, infected, cyber-mechanized, and possessing cosmic features. It is worth mentioning that holding NFTs can also unlock access to Sipher comic content.
Sipherian Surge (Sipher Inu Race)
The character NFT is designed in the image of a Shiba Inu, with a total of 10,000 units, starting at a price of 0.1 ETH, and all units were sold out in less than 15 minutes at the time of release. The floor price has now risen to 0.08 ETH, with a monthly increase of up to 96%. The total historical trading volume is 6512 ETH, with a recent monthly trading volume of 12.08 ETH, representing a monthly increase of 184%.
Sipherian Surge (Sipher Neko Race)
This character is designed in the image of a cat, with the NFT floor price currently at 0.0448 ETH, representing a monthly decrease of 0.44%. The total historical trading volume exceeds 1500 ETH, with a recent monthly trading volume of 5.17 ETH, representing a monthly increase of 76%.
II. Investment Background and Economic Model
Sipher Odyssey's two rounds of investment occurred at the end of the last bull market cycle. On October 26, 2021, Sipher completed a $6.8 million financing round, led by Arrington Capital, Hashed, and Konvoy Ventures. Other participating investors included Defiance Capital, Signum Capital, Dragonfly Capital, CMT Digital, BitKraft Ventures, Delphi Digital, Alameda Research, Fenbushi Capital, Sfermion, Hyperchain, GBV, Kyber Network, Coin98 Ventures, YGG, and Merit Circle. Angel investors included Holly Liu, co-founder of Kabam, and Alex Svanevik, CEO of Nansen.
Just one month later, Sipher announced the public issuance of tokens, with a total supply of 1 billion. It adopts a dual-token model, with governance token $SIPHER and in-game token $ATHER. The economic model forms a loop through "battle → resource acquisition → upgrade → trade → battle," and using the in-game trading market for transactions will also reduce gas fees.
The official announcement also stated that a total of $44 million (9950.1314 ETH) was raised, with 13,159 investors participating. The price of the $SIPHER token was 0.00024 ETH, but based on the then Ethereum price of about $4100, the cost per token was $0.984. Therefore, although the token price has risen more than sixfold in the past month, at the time of writing, the price has still fallen by about 70% compared to the public offering price.
Token allocation is as follows:
30.4% allocated to game incentives and marketing, locked for one month, then unlocked based on time and demand;
25% allocated to the team and its advisors, locked for 16 months, then linearly unlocked over 24 months;
14% allocated to the foundation and reserves, locked for 30 months, then linearly unlocked over 24 months;
11.3% used for seed round fundraising, locked for 16 months, then linearly unlocked over 18 months;
10% used for listing and liquidity rewards, with 15% unlocked at TGE, and the remaining portion linearly unlocked over 11 months;
5% used for strategic round fundraising, locked for 16 months, then linearly unlocked over 18 months;
4% used for public round sales, with 100% unlocked at TGE;
0.3% used for promotion and partnerships, locked for 3 months, then linearly unlocked over 12 months.
SIPHER tokens can be used for staking, cloning new characters, creating rare equipment, enjoying a share of the marketplace fees, and voting on future decisions of the game development team. Meanwhile, ATHER is a reward token that can be used to increase the level of characters, skills, equipment, and other in-game items through a burning mechanism, and it can also be used to pay for cloning costs.
The official Sipher website has a dedicated staking page for easy staking, and the longer the lock-up period, the higher the corresponding share and rewards. As of the time of writing, the total value of staked tokens has exceeded $2.7 million.
III. Team Members
Founder Tin Nguyen is a well-known entrepreneur in Vietnam and one of the few serial entrepreneurs. He was ranked in the top 30 of Forbes Vietnam and graduated from the University of Melbourne. In 2015, he founded Dreamplex, a company specializing in collaborative workspaces and social venues. In May 2021, he ventured into the gaming industry by founding Sipher Odyssey. As of now, his personal X account has 12,000 followers, while Sipher's X account has over 100,000 followers.
Currently, the entire team consists of over 160 members, with the local team in Vietnam mainly based in Ho Chi Minh City, Da Nang, and Hanoi, and international members spread across the United States, Europe, Singapore, the Philippines, Puerto Rico, and Indonesia.
Not long ago, SIPHER announced a partnership with Metacade to jointly build a virtual video marketplace. With the overall warming of the Web3 gaming sector, the future development is worth looking forward to.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
