SpaceNation's round of testing is coming to an end, and after experiencing two cycles of the POC system, I feel that P2E + P4F + POC may be one of the most optimal current chain game economic models.
What is POC?
Why is POC reasonable? Can it solve the problem of the death spiral?
Logic of various roles in the game
Value of OIK & AG & PFP
I. What is POC [Proof of Contribution]
POC is a mechanism for proving contribution. Space Nation plans to distribute 50% of $OIK to all game contributors over a 10-year period through gameplay, i.e., everyone participating in the game.
It is a complex, reliable, and fair system for measuring players' contributions to the game. In this system, players' assets, identities, memorabilia, activity, labor, interaction, combat power, and luck will be considered, and Contribution Points will be calculated. Players will be allocated $OIK from the Gameplay Airdrop Pool based on their points each week.
In the entire Space Nation game ecosystem, the POC mechanism has become the main way to obtain $OIK.
Current calculation rules
OIK reward = (individual season score / all player scores) * OIK allocation
Individual season score = completed activity score / target activity score * (0.1 * achievement of completion + 2.25 * achievement of possession) * achievement bonus
There are active tasks in each cycle, and completing these active tasks can earn the individual season score. At the same time, there is an achievement system in the system, and completing achievements can enjoy bonuses from the achievement section in each cycle.
II. Why is POC reasonable? Can it solve the problem of the death spiral?
First, let's go back to the game itself. Space Nation, as a space MMORPG game, allows players to choose different gameplay styles based on their preferences, such as miners, fighters, pirates, explorers, mercenaries, producers, arms dealers, and rulers. In the entry stage, players who want to experience different gameplay styles definitely need guidance, and POC plays such a role.
1. Incentivize players to explore gameplay, from shallow to deep
Incentives are the best guidance. POC, along with active tasks and the achievement system in each cycle, can encourage players to complete different types of challenges, explore different gameplay, and find the most suitable mode and position for themselves. Once players find their preferred way, they can easily get into the game state. Any web3 player is a web2 player.
2. Control of the native token $OIK output
The most reasonable aspect of POC is that the output of OIK is completely allocated within the cycle, which means that all output is predictable. Therefore, it will be more adept at controlling the price. As long as the game's income + consumption scenario is used to support the price of OIK, the output of POC can become a stable income that everyone wants to pursue if the price of OIK remains stable.
Imagine? If the price of OIK remains stable, will anyone complete active tasks and achievements? The answer is obvious.
So completing active tasks and achievements will guide users to produce and consume, which can effectively create a cycle within the game's economic system - CHR / materials.
3. Control of the in-game economic cycle
Chain games inevitably raise the issue of the death spiral, which is essentially a situation where long-term output exceeds consumption. Because output in the game is inevitable, the best approach is to create more consumption scenarios.
There are several types of assets in the game: CHR, materials, blueprints, and components
Source of CHR: completing tasks / selling dropped equipment from monster hunting
Source of materials: completing tasks / farming in the wild / dungeons / mining
Source of blueprints: chance drop from defeating bosses
Source of components: completing tasks / crafting at the production table / guild battles, etc.
CHR in the game is a dynamic currency that fluctuates with market demand.
Consumption of materials: submitting tasks / refining higher-level materials / crafting ships / crafting components
Here, a cycle of production and consumption within the game emerges.
For high-end players: If you need to become stronger in the game, you need to craft higher-level ships and equip them with the highest-level gear, which entails significant consumption.
In this case, demand is definitely greater than output. They will become the top players in the game, and OIK actually follows a flattening curve. The top players often receive the most OIK in each allocation cycle, but their actual investment, whether total or phased, is far greater than the return in OIK.
After obtaining OIK, they have to consider: should they exchange it for money to continue investing in development? Or exchange it for special vanity items with OIK? Or hold it to increase their governance rights? Of course, this type of user group is relatively small, but their contribution to the entire game is also the greatest.
For mid-range players: They may gradually invest until they find the point where their benefits are maximized. They will not pursue being at the top of the rankings or progress in the game too quickly, but they will maximize their pursuit of benefits, i.e., making money. Therefore, they are likely to receive OIK rewards that exceed their costs, and this income is long-lasting and continuous.
➤ For low-end players: They may not be willing to invest a lot of costs but are willing to spend time and minimal costs for visible benefits. Because their activity is low and they may not be able to complete many achievements, their contribution to the game is relatively low, and they may not be able to receive a lot of OIK.
Here, we will find that the majority of the game may be occupied by mid-range and low-end players, who play the game to pursue benefits. However, as the game content is explored, more investment scenarios will emerge.
Some may ask, why invest? Because as the game progresses, more content and gameplay will be generated, and the entire game system itself is full of game theory. You cannot measure whether each upgrade and refinement will bring you more profits.
And the premise for this to happen is because Space Nation has the ability to Play for Fun, which can be felt by the community, including myself. Currently, with less than 20% of the content, players are willing to spend more than their own value to create higher-level ships.
There are also players who have gone through hardships to play, and many players have bought new computers to play SN, and many Web3 experts have started an arms race, and the global same-server design has led Chinese players to start confronting overseas legions.
If a game cannot capture external value, then any economic model will eventually spiral, sooner or later.
Under these premises, why can POC control the in-game economic cycle?
Because the OIK obtained through POC and the game economy are two mutually influencing systems. Some people will pursue the value of OIK to complete investments in the game, leading to consumption. If game consumption is generated, the game economy is easily driven into a positive cycle.
Furthermore, the POC system can guide users to complete the consumption of materials or CHR. For example, adding consumption scenario tasks in each cycle's active tasks can be used to macroscopically regulate the output-to-consumption ratio within the entire game economy.
Therefore, with its high quality and playability, Space Nation has already during the testing period created what we call paying players who are not pursuing maximized benefits. The project team only needs to control the price of OIK and the POC system to balance the output and consumption within the game.
The project team is confident in developing a good Game Circulation over the next 10 years, driven by Fun to Earn and supplying Fun with Earn.
### III. Logic of Various Roles in the Game
Space Nation Online is committed to constructing a virtual space society. In this society, players will choose different gameplay styles based on their preferences, such as miners, fighters, pirates, explorers, mercenaries, producers, arms dealers, and rulers. These roles participate in economic activities, exchanging their respective values.
Miner Gameplay: Miners are probably the most stable income group in the game. You only need to own a mining ship (purchased, manufactured, or leased from others) to become a miner. You can obtain ore materials by mining or collecting gas. Ore materials are always in demand in this system, so you can list them on the auction house to exchange for CHR, and then exchange CHR for external returns (USDT / ETH / IMX, etc.). Large mining organizations will control the pricing of materials in the entire game to obtain stable returns, and the official will also try to control the emergence of monopolies; ultimately, a consensus pricing formed by the market is more likely.
Combat Ship Gameplay: Combat is the main source of play for fun in the game. You only need to own a combat ship to engage in combat. Anyone can get a T0-level combat ship for free, but the real gameplay and cycle come when players obtain T1 ships and join guilds.
Combat scenarios include: completing tasks / farming in the wild / dungeons / PVP, which are low-cost combat situations where you can exchange for CHR, materials, and blueprints. There are also combat scenarios that require more resources: guild battles / tournaments, where you can obtain top-tier equipment and honor. Compared to mining, combat ship gameplay has more scenarios and tests your understanding and strategy of combat skills, (captain + ship + crew + equipment) build configuration, and allocation of time and energy, etc.; the income from combat gameplay is not only unstable but also more challenging.
Explorer Gameplay: Explorers pilot their exploration ships, exchange the information they obtain while exploring known and unknown space boundaries, create treasure maps, and sell them to guilds or others in exchange for rewards. This is an activity that heavily relies on luck and also generates a certain guaranteed income, with relatively lower investment compared to mining and combat.
Of course, there will also be roles like producers (only manufacturing equipment or ships for sale) and arms dealers (Liquidity Providers and Market Makers in the game) to enrich the game's economic system and gameplay. Each role exchanges its own value. Any behavior that captures external value can be used to obtain returns.
The in-game auction house plays a crucial role in value exchange and game theory. Your buying and selling transactions are autonomous and full of game theory. The project team can also generate new consumption scenarios by charging a 5% CHR fee.
### IV. Value of OIK & AG & PFP
Many participants in the closed beta actually do not have an estimate of the value of OIK. However, this can be calculated quite well.
$OIK, as the native token of SN, captures the value of the entire SN.
Total supply: 1 billion
TGE circulation: 5 - 10% (most likely less than 5%, let's assume 5%)
Initial circulation: 50 million
50% will be produced in the game
So, compared to other similar games, if OIK can be compared to Bigtime, it can potentially reach 5U; if compared to the current market value, it can reach 1.5-2U.
Pixels: Comparable to FDV - can reach 2U / Comparable to circulating market value - 6U
Illuvium: Comparable to FDV - 0.7U / Comparable to circulating market value - 6U
Mavia: Comparable to FDV - 0.9U / Comparable to circulating market value - 2U
matr1x fire: Comparable to FDV - 1.2U
Data as of April 27th market | These are referenceable data, and the prices have also experienced a pullback due to the overall market impact. You can anchor the value of OIK based on your assessment of the game. I believe that anyone who has experienced the game should not feel that it is worse or how much worse compared to the games mentioned above.
The current stage of the game has cost over 30 million USD, several times the financing amount of many game projects. Many games cannot even produce a game with tens of millions in funding, and the products are difficult to deliver.
Without disclosing the financing, SN has already produced a product that is absolutely top-notch in web3. Therefore, my conservative estimate for OIK is 1-2U.
If the game performs better in the future, I believe it will easily surpass any game currently in the web3 market. SN has mentioned many times that MMORPG is the only game category with the strongest liquidity among all game types. By integrating Web3 technology and tools into the product and economic design of MMORPG, it aims to further strengthen liquidity in the virtual economy to build a huge virtual economic entity. If this goal is achieved, the economic volume of SN will surpass all games, and this upper limit is simply incomparable.
Alpha gate and PFP are still undervalued
Alpha gate quantity: 515
Freemint - 2E
PFP quantity: 3056
0.3 for white & 0.4 for public sale to 0.5E
During the closed beta, AG and PFP started a 70-day soft staking, producing 1% of OIK; the gate's earnings are 54 per day, while PFP's earnings are 29 per day; priced at 1U
AG - 70-day earnings: 3780 OIK - 3780U
PFP - 70-day earnings: 2030 OIK - 2030U = 0.65ETH
Not to mention the gate's earnings, PFP's OIK earnings are likely to exceed its own value, as most people lack judgment on the value of OIK and are not aware of PFP's undervalued state.
However, these are just additional earnings for Alpha gate and PFP. As equity-type NFTs, AG and PFP not only have priority purchase rights in the ecosystem (the qualification for the white of AG's mining ship has already made money); they also have a significant increase in the POC system.
Achievements: Holding PFP & AG will directly increase the number of glorious achievements and achievement points within the system, allowing you to receive more OIK in each distribution cycle than others.
Bonuses: Holding AG will directly increase the percentage coefficient of your OIK allocation, with bonuses ranging from 2.5% to 5% based on the rarity of the gates.
As the game develops, the value of AG will become higher and scarcer as users' holdings and achievements increase. Any pricing for AG is not excessive.
Achievements and bonuses will come into play in each distribution, meaning you can earn while producing in the game. You only need to complete simple active tasks to maximize your OIK returns, and the value of this part is immeasurable. You just need to know that 50% of OIK is produced in the game…
### V. Conclusion
Of course, SN is still a product in testing and will face many challenges. From the start of testing until now, the game's servers have become increasingly stable, and some bugs are being quickly fixed, with the project team listening to all players' feedback. It's almost like making small changes every day and major fixes every few days.
As the testing period approaches nearly a month, the number of players has not decreased but has instead increased. There is no need to question this, as the amount of OIK distributed is decreasing! And the player community is active until the early hours of the morning. The team is also tirelessly working to fix issues in the game, and the community atmosphere is very positive.
Of course, there have been delays in the sale of mining ships due to server issues, and the economic system has not been showcased particularly well. However, the sale has now been successful, and the demand for blueprints and CHR in the game has pushed their prices to new highs. But it is also hoped that more content will be added to test the entire game's economic system.
From my perspective, the current economic model of SN, P2E + Play for fun + POC, is one of the most optimal solutions for chain game economic models. The flywheel of SN will start spinning after the value of OIK is anchored.
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