Building a sustainable blockchain gaming ecosystem to entertain and create financial freedom.
Blockchain is becoming popular and widely adopted in every technology sphere, and entertainment is not left behind.
The growth in blockchain gaming is evident because statistics show over 2.4 billion active gamers globally, putting the gaming industry’s worth at over 1 billion dollars. It indicates that the number of game players worldwide is growing exponentially.
In 2019, the average number of users in the gaming market reached 2.48 billion, a significant 8% increase per annum. People enjoy playing games and sharing their experiences about their favourite games on social media networks.
Further, blockchain gaming will optimize gaming experiences and participation by making this more participatory.
In the beginning
My partner, a hardcore gamer, threw the idea of blockchain gaming to me when we brainstormed on what areas of life blockchain technology can benefit apart from cryptocurrencies.
Initially, I was receptive to it because venturing into something vague is a no for me. At that time, I was also actively working on revamping a virtual reality content management platform. So that you know, I have been in the virtual reality space for over six years. I have worked with some public and private organizations to curate immersive virtual reality experiences.
A few months later, we decided to go down the road of Blockchain gaming but again, how do we build to scale and be a significant player? This will depend mainly on our product design.
One common thing for those building blockchain games at that time was luck and chances or yield farming algorithms. Where is the fun in that? We had to be sure of what we will be doing differently. What came to mind was building a decentralized application that gives gamers access to other blockchain games. Wheeew!
We drafted our whitepaper and spoke to a founding member with more than 13 years of software engineering experience. We got his undiluted opinion on the product we designed. To get his attention, I sent him a video of what Gamerevv is about, and his response to the video is one of the few that made us go for it. He asked where he could play the games, and I told him frantically that it was why the team needed him.
Web 2.0 to Web 3.0
When you have been designing and building Web 2.0 products for years, it might be hard for you to easily switch to web 3.0, where the core of what you are building is decentralization. The research took a significant period. I have experience using many apps, and I have worked with blockchain projects designing DApps.
To tackle the challenges ahead, we knew we had to have a change of mindset.
Gamerevv’s Core details
While building a sustainable play and earn ecosystem, your ecosystem’s tokenomics is as important as the utility. We had to carefully think through how traders won’t dump the governance tokens for profit.
Because the project is community-owned, most of the token was designed to be distributed to users in different forms. Aside from the pre-seed allocation reserved for our early supporters, we also allocated some percentage to seed Investors and IDOs. Although the token is not deflationary, we plan to burn a significant quantity of the utility token to decrease the supply and increase the value.
An equivalent of 3% tax is charged on token transactions except when done on our DApps.
1% of the transaction taxes goes to the ecosystem’s marketing and development, while 2% goes back to the liquidity pool to enhance seamless trade of the tokens.
We also separated the in-game tokens from the utility tokens and redominated 15% allocation of GAV, which is our utility tokens, into GAM to a ratio of 1:1000. We also decided to allocate 2% of GAV for community rewards and re-dominated it to GAM.
The 17% re-dominated GAV tokens will be burnt, while 170,000,000,000 GAM tokens will be available as in-game tokens.
The DApp is also designed so that our community members can pay transaction fees in GAV, our utility token. We can pay for gas fees from the transaction fees, maintain the ecosystem’s technical needs, and burn more tokens.
Gamerevv’s technology revolves around ease, decentralization and cross-chain compatibility. To accomplish the objectives, we broke down our development into phases
1: Gamerevv DAO
3: Buying and Selling of our native tokens without leaving the DApps
4: Gamerevv Blockchain Gaming
The meaning of a DAO is often interpreted as it suits various use cases. Some describe a DAO as a group of community. In contrast, some describe it as an intuitive way of making changes to a smart contract based on the decision of the interested parties, a group of some stakeholders. The common factor is the people, the community with a vested interest in a project and how often they have a say as regards such project. For Gamerevv, a Decentralized voting system was built to suit this purpose. With this system, the team can allow our community to air their opinions and take decisions by voting on such views. This is done in a much more decentralized way, and this is what we call a DAO.
Holders of our utility tokens can create proposals and vote on them based on the number of tokens they hold.
The voting weight of each community member is divided into five voting blocs. For members holding more than 5,000 GAV tokens, each of their votes carries five weights, and a reduction of 1000 tokens reduces their voting weight by one. Often than not, Decentralized voting allocates each vote of their community member based on the number of tokens they hold. As much as the loyal holders of such governance tokens need to be prioritized, such a model doesn’t encourage true decentralization. The frequent case is that only a set of “Whales” and a selected minority will have a voice in such an ecosystem. For Gamerevv, every opinion counts.
Swapping GAV to GAM and Vice Versa
Since our tokenomics is a two token system, Converting to and from each token has to be easy and prioritized. This is why Gamerevv was built to support each token’s conversion seamlessly. Soon enough, when the ecosystem grows to accommodate third party Blockchain games, this model will help in the conversion of our utility tokens to various Game tokens.
Currently, a single GAV token is equivalent to 1,000 GAM tokens. The conversion rate of GAV and GAM is embedded in the smart contract and made flexible. This makes it changeable based on the decision of community members.
Gamerevv Blockchain Gaming
Gamerevv is about blockchain gaming and redefining how they are played and adopted, and it cuts across different Game genres.
Revv City Royale (MMORPG)
Currently, Gamerevv has an original MMORPG called “Revv City Royale”. Revv City Royale is themed to be a multi-community based game. This means that NFTs of different projects or communities will be usable in this game. It is an attempt to build a sustainable metaverse and make NFTs interoperable. How is this been done?
1. Accessibility: We believe a true metaverse should be accessible with no barrier to entry. We opted for building with an HTML 5 engine to avoid such obstacles. Anyone with a mobile phone can easily access the Games within Gamerevv.
2. Identity: Revv’s Citizen’s identity is strongly backed by the metadata of supported NFTs. For example, the first set of supported NFTs within Revv City are the Revv City Warriors. They were created based on a storyline.
The most significant traits for us are the flagbearers. They are the NFTs that can create game rooms within the game. They earn a percentage of what is being spent within the Gameroom they create. Such approach makes room creation and gameplay decentralized and rewarding.
3. Supply: No universe has a static population. Because of this phenomenon, we will be adopting the use of multiple NFTs within the game itself. NFTs developed by us and other projects. This way, more people will be able to participate in the game actively.
4. Co-Development: If we incorporate other NFTs into Revv City, we will have to co-develop the game with the community. We build terrains, gameplay, and narratives to suit individual NFTs.
Gamerevv will make it easier to play other game genres and earn a lot of reward with ease. The backbone of this is the API infrastructure on which every other thing within the ecosystem is built. Any game can be fully incorporated into the blockchain under 2 weeks with the API.
We are also co-developing idle games with familiar gameplays. Some games in development are
· Connect 4,
· Blockchain UNO game,
· 3D Pool.
Of course, these games will be multiplayer themed games. Making them multiplayer makes them more competitive and rewarding to skilled players.
The more the games, the better
Gamerevv’s technology becomes a stepping stone for other games to launch seamlessly, and the more the blockchain games we can incorporate within our ecosystem, the better it is for us. The team has started a hunt to incubate more engaging traditional games that will be added to the ecosystem. Currently, we are in communication with 2 Game development companies in Europe and Asia to partner with us to launch their games on the blockchain through Gamerevv.
The 5 months of research, design, bootstrapping and building a working blockchain product has been worth it, now we plan to launch the Testnet of our DApps, for users, gamers, NFT enthusiast to use, stress test and give us feedback on their experience while using the DApps. After this phase, we will launch our IGO (Initial Game Offering), which is the sale of NFTs for Revv City Royale!
The sum raised from the IGO will be used for marketing, promoting the token presale and IDO stages.
Our NFT holders will be airdropped the utility tokens after the public sale of the tokens have been completed.