One of the three major chains of the bull market? Prime Chain Game Analysis

朱老师区块链 · 2023-11-23T01:27:40.000Z
Today we continue to follow our ideas. Recently we know that many projects have grown well, such as various projects in the oracle track and the DeFi track. In fact, the chain gaming sector has also grown well. Bigtime was launched some time ago, and then ILV has also increased from more than 30 to 100. The project we are talking about today is also one of the three new chain games (bigtime, ilv, prime). It is this prime. You can see that it has doubled in the past month, from 2.9 to 8.3. The current market value has also reached 180 million US dollars, and the ranking has reached 170+, so let’s see if this project can become one of the three major blockchain games that will dial up the bull market.
Today we continue to move forward according to our thinking. Recently, we know that many projects have grown well, such as various projects in the oracle track and the defi track. In fact, the blockchain game sector has also grown well. Bigtime was launched some time ago, and ILV also increased from more than 30 to 100. The project we are talking about today is also one of the new three major blockchain games (bigtime, ilv, prime), that is, prime. It can be seen that it has doubled in the past month, from 2.9 to 8.3. The current market value has also reached 180 million US dollars, and the ranking has reached 170+, so let’s take a look at this project. Can it become one of the three major chains of the bull market?
Introduction
Echelon Prime is a blockchain gaming platform that is currently launching two games, one is Parallel TCG (card game) and the other is Parallel Colony (simulation game). TCG has just completed its B round of internal testing, and Colony is also in the conceptual stage.
The Echelon Prime Foundation is a web3 ecosystem that powers the next generation of gaming. Powered by PRIME, Echelon fosters innovation in novel game economies through an open source and community-led framework.
Parallel is a collectible sci-fi NFT trading card (TCG) game based on the ETH chain. Players can purchase and collect cards, and flexibly use different cards to combine decks that comply with the rules to play games and get rewards.
Its team members come from 3A games such as "Assassin's Creed" and "Valorant". YouTube co-founder Chad Hurley joined the team in March 2021. On October 22, 2021, Parallel announced that it had received a $50 million investment from Paradigm at a valuation of $500 million. Its foundation is Echelon.
background story
In the near future, a catastrophe occurred on Earth, creating a need to create sustainable energy. This catastrophe prompted the people of Earth to flee in four ships, with one group staying behind. This is where the five factions in Parallel come from, representing each direction of development of the four ships, and the evolution of the remaining groups. Driven by variables such as time, distance, and difficult choices, these groups have become very different biologically and in their behavioral motivations. Humanity tried to unlock a solution by hastily experimenting with antimatter, and the results were devastating. Humanity was forced to abandon Earth and go off into the unknown of space in different directions, while moving towards the next step in evolution. Some of them return to Earth to fight for control of the planet. Conflict is inevitable, and the outcome remains unknown.
Closed beta gameplay
Parallel officially opened the application entrance for early access on December 6, 2022. The closed Alpha test will start on February 28, 2023 and will be conducted in 3 sessions. Each session will last about 1 week. After the third closed test, the last collective test will be conducted on the weekend of the fourth week. The closed Alpha test ended on March 26. According to official information, during the entire Alpha test, members participating in the test have the hope of receiving PRIME token airdrops. This reward may be issued after the closed Alpha test ends.
According to the Parallel white paper, the game has a variety of NFTs, all of which are distributed through auctions or sales. According to incomplete statistics from official dynamics, Parallel has obtained more than 22,000 ETH by selling NFT assets to the community, which is currently equivalent to US$34.77 million.
The Parallel Alpha series has 1,228 types of cards, totaling 5.8 million cards. The Parallel Auxiliary Items series has 11 types of cards, totaling 9,834 cards. The cards in both series include Special Edition, Perfect Loop, Prime, Assets, etc., which can be used to earn more PRIME tokens. There are also 5 different Parallel characters based on mythology: Earthen, Marcolian, Augencore, Kathari, and Shroud.
During the game, players need to collect 40 cards to form a deck. The game modes are divided into 1V1 mode, 3V3 team mode, and draft mode. Each player has a total health value, and the winning condition is to make the other player's health value become 0. As of now, the player's initial health value is 30.
This design is somewhat similar to the web2 card game "Gwent", in which different races and forces have different deck styles and gameplay. However, it should be noted that all cards are currently presented in English, and understanding the effects and combinations of each card still requires a certain level of learning and game play.
Utility Cards
Practical function cards refer to game cards that are playable. Parallel standard game cards are divided into Common, Uncommon, Rare, Legendary, and Prime. The text dividing line and QR code color corresponding to each rarity are different. Therefore, users mainly distinguish the rarity of cards by the color of the QR code. Among them, Prime cards are very rare, and the release version may be less than 10. Because the function of this card is relatively powerful, for the fairness of the game, this card is prohibited from participating in the ranking competition. The way to obtain this kind of card is to participate in the pre-sale, event gifts or booster packs (similar to blind boxes) sold randomly.
In addition to the above five rarity cards, there are also some non-standard rarity cards, such as SE and PL. These two versions of cards have the same functions as standard cards, but are slightly different in release edition or artistic expression. The SE version QR code color is laser, and the PL version QR code color is red.
Non-utility card
Non-practical function cards include card backs (Card Back), concept cards and asset cards (Prime Key, Catalyst Drive). The QR code color of concept cards and asset cards is uniformly white.
Although the card back is a game card, it has no practical function in the game. Loyal players may want to choose their own Parallel card back, or a card back with a special animation;
Concept cards are collectible works of art, and their value may be determined by the exquisiteness of the card or the edition number;
Asset cards are a more special type of NFT, among which Prime Key is a governance NFT. Holders of this card can participate in the creation of proposals and voting, or burn Prime Keys to redeem PRIME tokens in corresponding proportions. After burning, Prime Keys will become a red collectible card without any function, with a total of 150 cards.
Another special non-practical function card in Parallel is Masterpiece. This card does not come with a QR code and is issued in only 1 edition. Holders of this card can receive 1% of the copyright fee for the corresponding type of card when it is resold in the secondary market, and it is paid quarterly.
In addition, designing various sink consumption scenarios for Crypto economic games is also the key to increasing the sustainability of the game. In the example of Parallel TCG games, this includes artist signatures, card draws, redeeming GLINTS (consumer skins), copying NFT cards, paying for P2P trading services, casting avatars and equipment, etc. The purpose of these consumption scenarios is to keep the economic system healthy, thereby reducing the negative feedback effects of Prime token speculation.
Current status of the project
In October 2021, Parallel completed a $50 million Series A equity financing led by Paradigm, with an overall valuation of $500 million at the time. Other investors include YouTube co-founder Chad Hurley, Focus Labs, OSS Capital, and Yunt Capital. The game team members come from 3A games such as "Assassin's Creed" and "Valorant". YouTube co-founder Chad Hurley joined the team in March 2021. And the secondary market transaction royalties of its in-game NFT assets generated 7,560 ETH for the team, equivalent to $11.94 million.
On the Opensea platform, the current Parallel NFT accumulated transaction volume is 80,442 ETH. Due to the high 10% royalty of its game assets, this has brought Parallel Studio a total fee income of about 8,000 ETH, but considering that about 1% of it is allocated to MP card and The Core card holders, the NFT secondary market brings Parallel Studio an income of about 7,000 ETH. There are currently 60,000 holders.
Fans data
There are 140,000 followers on Twitter, which is still a long way from ILV’s 380,000 followers on Twitter. There is no data displayed on Discord, but it is estimated to be around tens of thousands.
Token Economy
The total number of tokens is 111,111,111, and 26,271,698 are in circulation, with a circulation rate of 23%. The current price is around $7, which is already at a peak. In the token distributor, we can see that the team took 15.1%, the foundation took 11%, and the reserve took 4.6%, which adds up to almost 30%. Then it is a 10-year release, which is still quite long. It seems that the team still wants to do something, but the cycle of a game is not like an application. There are relatively few games that can survive for 10 years.
Finally, let me summarize. The current hype of blockchain games is still quite high, and the main promotion is card games. In fact, there were also card games in the last bull market, but the economic model may not have been designed so well in the last bull market. Then I saw many articles boasting that this game, bigtime and ilv can form the three carriages of blockchain games in the next bull market, which echoes the three carriages of the last bull market (sand, axie, decentraland). In fact, it can be compared with ilv. The current market value of ILV is 360 million US dollars, while it is 180 million US dollars, which is twice as much. However, you can see that the difference is more than double in terms of the number of fans. So in a horizontal comparison, the current market value is about the same. As for this wave of surge, first, the previous market value is low. After all, it was valued at 500 million US dollars in financing. Second, it has just completed the internal test of the B round, so it should be in good condition. Then the blockchain game is still to see whether it is fun. After it comes out, everyone will play it and it will be fun.