At the beginning of 2022, the encryption market turned into a bear market, but gaming projects are still the focus of institutions. This year, the market has undergone some changes due to the cold reception of NFT. The Azuki sale incident has become a key turning point. The floor prices of some NFT projects have fallen sharply. Many teams have begun to seek NFT empowerment, and Web3 games have become an important target.
Because of this, even though the market is still in a bear market, the prospects for Web3 games are still very broad. Discovering a potential GameFi project in a bear market and planning it in advance has become a key concern for many old players. Next year's BTC halving will drive the crypto market's expectations for a bull market. Therefore, taken together, now is the key time to lay out Web3 games. Some new projects have a great chance to gain industry advantages in the next bull market due to their more innovative gameplay and healthier economic models. Metaelfland happens to be a highly popular Web3 chain game project that was officially launched recently.
Project Introduction
Metaelfland is a PVE/PVP game developed by Metasoft. In the game, players can purchase and breed various Yuanling characters, form teams, complete game PVE tasks, and participate in PVP battles and TMT competitive activities. At the same time, the game attracts players to participate in the game through incentives, and obtains rewards by selling related tokens or characters to achieve the Play to Earn goal.
Metaelfland received US$3 million in financing in a strategic round in July 2022. This round of financing was led by MagnetVC, with participation from Dealean Capital, Polaris Incubator, Cryptic Guil, ZC capita, 3 S group, etc. The amount of financing is in the middle position in the Web3 game sector. The project has been developing since the beginning of 2022, and has recently conducted a public beta without deleting files. At the same time, the official also conducted mint activities for IDO and Yuanling NFT, which attracted the attention of Web3 game players.
Rave reviews after testing
From June to July 2023, "Yuanling Continent" started a round of testing.
After trying it out, some veteran GameFi players gave positive feedback on the economic model. The in-game consumption and output model is attractive enough for players. In the game design, players can get their money back no matter how fast or slow they play. You can still make good profits after getting your capital back. In the design of other games, the pressure on players to repay their money is basically not considered.
In a bear market, players examine the game's economic model more rigorously. At present, many game projects are controversial and it is difficult to reach a consensus. Yuanling Continent has won the recognition and trust of many players with its innovative core economic mechanism that focuses on the interests of players. This lays a solid foundation for healthy development in the later stages of the game.
The economic model directly determines the vitality of the game and whether it can run for a long time. The economic mechanism of Yuanling Continent is well thought out, taking into account fairness and incentives, allowing players to create value with peace of mind. This core recognition is a huge potential power. It will support the game to stand out in the bear market and ultimately form a player consensus.
Success is not easy during market downturns. But it's in the midst of this turmoil that games with potential are being built. Compared with those impetuous short-term games, Yuanling Continent is a choice worth players' long-term investment. Before the end of the bear market, maintaining a positive and open mind, constantly trying and deepening new games, is the key to being able to plan ahead. Yuanling Continent is a Web3 game worth looking forward to!
The main gameplay of the game
Currently, players need to obtain at least two Yuanling pet NFTs to participate in the Yuanling Continent game. There are relatively many ways to obtain NFT. In addition to official sales events held before, players can participate by purchasing in the NFT market. Yuanling pets can be bred in the game, and Yuanling pets bred by players can also be sold, providing players with a source of income.
Quick Start Tutorial
After obtaining the Yuanling NFT, first log in to the wallet. The previous Yuanling pet was on BNB Chain. The official recently supported the Zksync chain and switched the wallet to the network where Yuanling is located. Open the official website, use your email to register and log in to the account, and recharge Yuanling into the account. Then you can log in to the account through the mobile APP to perform game operations. The mobile APP can be downloaded from the official page. It currently supports Android and IOS. Of course, the official H5 version has also been launched, which means we can participate in the mobile phone or PC browser.
After logging in to the account, we can play freely in the game. The gameplay of the game mainly includes daily check-in tasks, PVE tasks, PVP activities, the training, upgrading and strengthening of Yuanling, breeding, trading and purchasing props and potions, draws, etc. Specifically, we Introduce them one by one.
After entering the game, we can see the following interface
Backpack: stores the item rewards, props, spiritual stones, etc. we obtain in the game.
Yuanling: This is the Yuanling pet NFT that we deposit into our account. Two are required to initially enter the game. Later, you can complete tasks in the game for hatching and other operations to obtain new Yuanlings, and form a team to improve the team's combat effectiveness.
Yuanling has multiple attributes, including life, attack, defense, speed, critical strike, etc. In addition, each Yuanling has its own skills, including active skills, passive skills and normal attack skills.
The evolution of Yuanling requires low-level Yuanling materials, evolution potions, and the consumption of BNC tokens. After meeting the conditions, the game will prompt that evolution is possible, and we can choose evolution to increase the level of Yuanling.
Yuanlings of the same star can be swallowed to improve their skills, which also requires the consumption of BNC tokens.
Spiritual stone enhancement: Through spiritual stone enhancement, corresponding attribute values can be increased, such as life, attack, defense and other attribute values, thereby improving the overall performance of Yuanling.
Store: If you need materials during operations such as upgrading and strengthening, you can obtain them by purchasing them in the store in addition to completing tasks in the game.
The Yuanling Store mainly sells breeding props and evolution potions, which require MELD to purchase.
The gold coin store mainly sells Yuanling eggs, gift packs, cards, etc. BNC is required to purchase
The badge shop mainly sells light and dark crystals, Yuanling eggs, etc., and badges are required to purchase them.
Uploading game assets to the chain: Click the "Settings" button on the main page, and you can see "Assets to be uploaded to the chain." By uploading game assets to the chain, players can conduct transactions and transfers on the chain, thereby obtaining corresponding income.
Game operation
Daily sign-in: Sign in every day to get corresponding basic rewards
Daily tasks: You can get rewards by completing corresponding actions in the game, such as hatching an egg, consuming 40 BNC, etc. You can get treasure chests by completing a certain amount of tasks, and you can get corresponding rewards by opening treasure chests.
Cultivation and reproduction: Yuanling breeding can obtain the next generation of Yuanling and increase the number of Yuanlings. Of course, excess Yuanlings can also be sold in the market to earn tokens. If the genders do not match, we can use the gender conversion card to meet the requirements. There is a certain limit on the number of times Yuanling can be reproduced.
Arrangement: In order to quickly respond to the enemy, you can arrange the Yuanling team in advance, which can simplify the operation.
Lottery: Consume a certain amount of BNC tokens to participate in the lottery to obtain richer rewards.
TMT Arena: Metaverse Tournament. Players pay tokens to purchase tickets to participate and compete within the specified time. Players advance from the group stage until they compete for the championship. 80% of the tickets go into the prize pool, 10% are converted into MELD tokens and burned, and the rest are used for system maintenance, entering the DeFi pool, and distribution to ecological funds, etc.
Ordinary Arena: A weekly season with matching based on rank. Rewards will be issued at the end of the season. Tokens are also required to enter. Players will gain points based on the number of wins they have won. Finally, they will be ranked based on the number of points. Players can get badges for every game they win. Players can challenge 5 players every day. They get 3 points for winning, 1 point for a draw, and no points for losing the game.
PVE adventure: By engaging in adventurous activities on the homepage, fighting enemies, you can challenge BOSS at the same time. PVE requires stamina points. Normal battles consume 3 stamina points per game. Challenging BOSS requires 6 stamina points. You can use MELT or badges. To restore physical strength, the physical strength will be automatically restored to 120 every day until the player consumes it.
In the game, we can choose to fight automatically, and at the same time, we can also accelerate the battle, so that we can quickly win the battle when we are confident and save fragmented time.
After victory, you will receive prizes. When your combat power far exceeds that of the enemy, the number of prizes you may receive will be reduced or even no items will be produced, thus motivating players to challenge more difficult levels.
P2E earning analysis
The overall game design of Metaelfland takes into account free transactions, medium-speed return of capital, and long-term profits, which are the three most important points for GameFi players.
Users holding Yuanling NFT can obtain benefits as long as they open the arena. The benefits are accumulated every day and can be claimed once every two weeks. Each NFT Yuanling has an anchored MELD quantity, and usually the entire NFT-anchored MELD quantity will be rewarded to users in 100 days. MELD can be used to purchase blind boxes in the future to increase application scenarios, thereby increasing the value of MELD.
If players want to get their money back faster, then Arena ranking will be an important factor. If you rank first, the rewards released will be doubled, and the capital can be paid back in as soon as 50 days. If you are always the last one, the payback period will be longer, but everyone will be able to get back their money eventually. This setting is very user-friendly, and without any financial pressure, the gaming experience will be greatly improved.
After players mine the MELD value of Yuanling NFT, 30%-100% of the annualized profits will still be distributed to players in the arena. The profit margin is still related to the ranking, with the number one ranking doubling annually. Holding Yuanling NFT is equivalent to holding a mining machine that will make money forever, or holding a part of the equity in the game, and can share the dividends of the game's growth in the long term.
In addition to the benefits obtained from Yuanling NFT in the arena, you can obtain NFT through Yuanling breeding, choose to sell or obtain benefits in the arena, and obtain BNC rewards by completing various tasks in the game. Yuanling Continent provides players with a variety of ways and channels to make profits. Players holding Yuanling NFT can get back their money more quickly from these gameplays, and achieve the effect of double mining by holding NFT.
Game skills analysis
After introducing the main gameplay of the game, the most critical issue for players is how to get the best experience in the game. What follows is an in-depth analysis of various operations in the game and their effects.
1. As novice players, we started with two Yuanling characters. In addition to checking in every day, we should first participate in PVE, that is, participate in game adventures, consume daily energy, and get as many rewards as possible. (There are more upgrade potions and spirit eggs), in this way, you can get the opportunity to strengthen. Later, you will consider focusing on evolution, reproduction, or devouring gameplay based on the number and type of rewards you receive.
2. After accumulating a certain number of props, potions, spirit eggs and other items and meeting the conditions, you can evolve, upgrade stars and strengthen skills of the main Yuanling. The maximum star rating is 4 stars, which means that Yuanling can The maximum spirit level is 40. Generally, low-level players can give priority to improving the attack-type Yuanling, which can improve the overall combat effectiveness of the team, and then choose one of the support or defense to focus on training, and at the same time cultivate an attack-type or speed-type Yuanling to meet a certain combat ability.
3. You don’t need to recharge MELD or BNC in the early stage, because the operations such as Yuanling battle will be relatively simple in the initial stage, and you will get some basic rewards and props. The game will advance very quickly at this stage.
4. Through the above operations, you can quickly form a basic five-spirit team. When it reaches two stars or above, you can consider trying PVP to get more rewards, provided that you have enough MELD and BNC to use as tickets.
5. When the game needs to upgrade stars, consider using Yuanling as "material". Otherwise, do not upgrade D-quality (relatively rubbish) Yuanling casually, unless your Yuanling team is not enough. If you obtain a high-quality (such as A) Yuanling later, you can replace the junk-quality Yuanling (D) during battle. Even if the junk-quality Yuanling already has a higher level, it can be used as a high-level star-upgrading material later. .
6. Good-quality Yuanlings are difficult to obtain. You can also consider using transsexual props and breeding to obtain better Yuanlings, or drawing money through krypton gold. There is also a chance of obtaining high-quality Yuanling eggs for hatching. Quality Yuanling.
7. When the overall strength of the Yuanling team increases, you can consider recharging MELD and BNC to speed up the level and star level of the team's Yuanling, because it is often more difficult to upgrade at this time, and it is more difficult to widen the gap between players. Therefore, consuming MELD and BNC is a way to get a good return rate, instead of continuing to indulge in PVE, because the effort will shorten the consumption time and get a correspondingly higher return.
8. After the game level increases, player profits will focus more on character breeding to produce new NFT pets, which are then sold in the market to obtain rewards. The income from gold farming may be relatively slow, but whether the official will modify the corresponding mechanism in the later stage is tentative. It is not determined yet. If the player has multiple high-level game characters, he may consider focusing on character reproduction.
economic model
Metaelfland uses a dual-token model currently commonly used in chain games, that is, the governance token MELD (called MELT on BNB Chain, temporarily we collectively refer to it as MELD) and the in-game sub-coin BNC. At the same time, participating in the game also requires Yuanling NFT and various Prop-like NFTs form the economic foundation of the game through these three types of tokens.
MELD is mainly used to purchase Yuanling, land, props, evolutionary reproduction and other necessary scenarios. Players can also earn MELD through games and participation in staking. In addition, MELD is also used for the DAO governance of the project. Players holding MELD can participate in the voting of the project.
The total amount of MELD is 10 billion, and the main distribution methods are as follows:
It can be seen that most of the tokens are allocated to players participating in the game. This proportion is relatively high compared to other Web3 games. It also reflects the project team's emphasis on the community and players, which is conducive to the decentralized governance behind the project. process.
The release ratio of the P2E part is calculated according to the formula
M_final=M0*(1+W*U)*R
W is the user weight factor, ranging from 0-1
U is the number of users in the current month
R is the release proportion coefficient of the corresponding month. The coefficient is different every year. This coefficient is mainly determined based on goals and needs, and linearly decreases. It can effectively combat the negative impact of inflation and improve the rate of return for players to participate in the game.
This release model mainly considers the impact of time, number of users and release proportion coefficient, which can effectively prevent the price impact caused by excessive market fluctuations.
BNC is an in-game asset. There is currently no total limit. Players obtain corresponding tokens through PVE and PVP activities. At the same time, BNC is consumed when upgrading, breeding, and purchasing props. In addition, the official also controls BNC. The release amount, for example, PVE players can obtain up to 50 BNC per day and other restrictions. Basically, the output and consumption of BNC will be within a stable range, which can maintain the stability of the economy in the game.
In order to maintain the value of MELD tokens, the official has also set up multiple destruction scenarios, such as the destruction of tokens through TMT competition, the destruction of handling fees for game asset transactions, and the destruction of tokens spent by players or the repurchase of BNC. The second game A consumption scenario for MELD will be added at this stage to ensure that MELD is in a deflationary state. Together with measures such as liquidity staking, market liquidity will be reduced.
Image source: official documentation
In addition, players can obtain corresponding NFT and token rewards through token staking/PVE/PVP/daily tasks/NFT upgrades and star promotions, including later scenes such as the metaverse land, and various activities in the game and on the chain. The entropy increase process within the game system is obtained, and in the hands of players, it is reflected as an increase in profits, realizing the vision of Play to Earn.
Image source: official documentation
Comparison of similar games
Currently, most Web3 games are based on the dual-token model, the most well-known of which is Axie Infinity. In Ah Crab, players also need to upgrade their game characters, as well as breeding/PVE/PVP functions, as well as the in-game token SLP, which is similar to Metaelfland.
There were relatively few SLP application scenarios in the early stage, mainly for breeding Axie. At the same time, its price was also very unstable, and the price increased about ten times from April to May 21, which led to a decline in the player experience. Of course, for At that time, it was a good thing for players who focused on short-term monetization. However, if the game wants to develop in the long term, it must focus on loyal players. Therefore, the model is not very perfect, which leads to greater fluctuations.
After Axie, another Web3 game StepN also attracted attention. StepN also referred to Axie's economic model and gameplay to a certain extent. Players can obtain gold rewards by participating in sports. StepN also has a dual-token structure. Although it is difficult to avoid the death spiral in the end (the actual project did not die), compared to Axie, StepN further expanded the scene of the in-game sub-coin GST, thus increasing the circulation of GST.
StepN also introduced the concept of shoe durability, which is also an obvious feature. This method mainly limits early participants and avoids token selling pressure to a certain extent. Shoe repair has also become an important burning mechanism to balance the supply of GST. However, certain improvements are still needed for the release and destruction control of tokens. Some players believe that the decline of StepN started with the ban on domestic players from participating, which is also an important factor.
For Metaelfland, the game continues to use the dual-token model, which is overall closer to Axie. This is mainly because both Axie and Metaelfland are character combat games, not the StepN model, so the game scenes and other aspects will be different. There are many references to Axie, such as reproductive functions, etc., and there is no limit on durability. This is mainly done to make it easier for players to get started, and to make the game rules and gameplay easier to understand.
In addition, compared to Axie, Metaelfland Yuanling has expanded the application scenarios of the in-game application token BNC, thus maintaining the demand for BNC. At the same time, Metaelfland officially maintains the stable release of MELD through parameters, so that when there may be a death spiral in the market, the release of tokens can be controlled, thereby maintaining the price of tokens and the basic interests of participating players. In addition, the game also introduces a badge purchase function. Although badges cannot currently be traded and there are relatively few scenes, there will be more gameplay around badges in the future. This is also an innovation worthy of attention.
On the whole, Metaelfland combines the gameplay and economic model features of Axie and StepN, and makes appropriate innovations to make the token model relatively mild. Through some parameters released by the token, it can achieve the effect of delaying and avoiding the death spiral, and the game can Long run. Of course, for Metaelfland, if the game Yuanling Pet adds features such as the durability of running shoes, it may have better results.
route map
The Apha test was conducted on July 13, and the test has ended. The list of test reward users was announced on July 20.
Beta testing started on July 22, and is still ongoing. This test version is a non-deletion test, and Play to Earn is officially launched. Only NFT Yuanling can be used in the arena, and at least two are required. To participate, the beta test is expected to end on the 28th.
In addition, the official also conducted an NFT Free Mint event, which was quickly minted after the event went online. The event was relatively popular, with 2,000 registered users participating in the event.
IDO activities and INO sales will be held from July 25th to July 31st. The price of MLED tokens is approximately US$0.0035.
From August 1st to 3rd, MELD tokens will be officially launched on the zksync network
According to the project plan, the official will later launch the NFT market, pet metaverse, staking mining, IDO platform, social platform and leasing functions to further improve the circulation of in-game assets and create a full-featured Web3 game platform for players.
game valuation
The total amount of MELD is 10 billion. According to Metaelfland's economic model, the initial release amount of MELD in TGE totals about 320 million, accounting for about 3.2% of the total amount. The project received US$3 million in financing in July 2022, with institutional investment The total amount of tokens allocated by people is 200 million, which means the estimated price of the institution’s tokens is 0.015 USDT. The total project valuation may be around US$70 million. This scale is basically in line with the project’s financing situation and the market’s response to Web3 similar games. valuation expectations.
We assume that the institution has completed the return of capital in the first round of TGE, then the MELD currency price may reach around 0.045 USDT. Of course, it is difficult to achieve according to the current market conditions. In other words, we estimate based on the financing cost of the institution. The token price will be between 0.015-0.045 USDT.
In addition, the official will conduct an IDO activity from July 25th to July 30th. The corresponding price is 1 MELD = 0.00001500 BNB (approximately 0.0035 USDT). TGE unlocks 50%. Users who participate in IDO can get back their capital during the TGE period at a price of approximately It is around 0.007 USDT, which means that users participating in IDO are expected to get an increase of 2-6 times.
Prospect analysis
From a time span perspective, Metaelfland was first established in January 2022. After one and a half years of development and testing, the project was launched recently, which is relatively long compared to other Web3 games. For most blockchain games, the time from project establishment to game launch generally does not exceed one year. This is one of the reasons why the amount of financing for game projects is generally lower than that of public chains.
Metaelfland breaks this law. On the one hand, it reflects the team's ability to take root in the blockchain foundation and focus on development. On the other hand, it also illustrates the project team's ability to persevere in the face of market turbulence. This has basically been able to win. I have worked on many Web3 chain game projects.
At the same time, from the perspective of the game's gameplay and economic model, we believe that the Metaelfland project still favors a moderately innovative attitude rather than a radical strategic approach. Although this is considered to be unable to carry out disruptive innovation to a certain extent, it can also guarantee The game can operate stably for a long time, and the advantage of this is that the possibility of project failure will also be greatly reduced. We believe that the main reason for this situation is the result of careful consideration of multiple possibilities by the project team over a long period of development.
Therefore, judging from the overall performance of previous projects, we believe that Metaelfland will still maintain its previous status and create a relatively stable game environment for players. In other words, it is to pursue the long life cycle of the game and stable returns for gold participation, rather than the short-term model of rapid rise and fall. This in itself is an important exploration for the operation of Web3 games.
Summarize
Metaelfland is relatively simple to get started with in terms of game experience. The game process mainly revolves around PVP battles and PVE adventure settings, and the main gameplay is not complicated. This is very friendly to novice game players. Players only need to hold NFT in their wallets to recharge and participate in the game. Players can set acceleration during combat, which also makes use of fragmented time and reduces operational complexity. It is a relatively humane.
In addition, the game economic model is relatively mature, and it has supplemented the dual-token model, added scenarios for applying tokens, and improved the distribution model of governance tokens, thus ensuring the stable operation of the game. The metaverse and social functions that the official later plan plans to integrate will increase the value of player assets in the game.
Finally, based on the long-term development progress of the Metaelfland project team, we can see that the project team is more focused on the long-term operation of the game, so it may not be friendly to "one wave" players, while deeply involved game players may You will get good harvest.