The GameFi concept has recently become widely known and now, it can be said that GameFi has had its best year so far. What has happened shows the huge potential of this market. “Play to Earn” is probably the most popular keyword this year. This term seems to be brand-new and attractive at the first glance. However, the more thoroughly we analyze, the more clearly we understand that there are several problems in the way this term is approached. In this article, we will review the term “Play to Earn” and introduce Faraland’s vision of this concept.
- Play to Earn
This keyword really became very popular, because it is what every player wants in a game. Is there anything more interesting than playing and earning at the same time? It is a challenge that long-term projects should solve. Earning tokens while having fun playing sounds really attractive. However, if the number of players soars and the developers fail to find a solution, it will be a big problem for the economy of that project. A lot of projects failed to anticipate this, rewarding players with tokens in an uncontrolled way. As a result, inflation of the project’s economics resulted in ever decreasing token value. Like a chain of dominos, early players rushed to take profits and eventually turned the project into a classic Ponzi scheme. The following participants ended up in heavy losses, they wanted to “Play to Earn” but it turned out not to be so simple.
The majority of the market has been so focused on the “Earn” criteria that its perception of blockchain games gradually turns into a form of financial speculation. Everyone wants to make a quick profit when investing in a certain GameFi project. What has always been overlooked is that the concept of GameFi started with “games”, a real game with attractive gameplay that can attract players. Most of the current GameFi projects on the market do not pay attention to this aspect. They are sometimes so sketchy that they cannot be considered games. The game forms such as “Gas war”, “Staking game” are still DeFi mechanisms. They just pretended to be real games. Projects that are not gameplay-focused have lost their intrinsic value.
- Faraland’s vision
From the perspective of Gamers who have been in the crypto market for a long time, we believe that the games we just mentioned are a failure of the media. They give players a hope of a compelling idea, but the result is the opposite. Players and developers fail to recognize that the basic value of a game is for fun and relaxation. As long as there is still a mindset of playing games to earn, the GameFi market will not be able to develop.
So if games are not for playing to make money, why do we have to develop games on blockchain?
The superior technical characteristics of blockchain is security. Data stored on the blockchain is immutable and highly secure. All important data of players is stored on the blockchain, hence the “Roll back” (the situation when all the data of your game account is returned to a time in the past) will not occur with blockchain games. Next, thanks to blockchain technology, all the virtual item transactions in cyberspace are safe and quick. This is an irreparable weakness of traditional games. People can now safely trade virtual items with strangers around the world. Moreover, the possession of virtual items will not be controlled by the publisher. This creates a vibrant NFT market and combined with the in-game economy will provide opportunities for profits. Another advantage of blockchain games is that gamers fully have the rights of a shareholder when investing in the game. When the project develops and the token price increases, users can freely take profits. If there is a major update in the game, the development team will have the consensus of the majority of players to be implemented through the DAO voting mechanism. It is really a new step for the game industry, when the interests of gamers and developers are attached. That will create a fair game for everyone.
Our aim is to create an attractive game that makes players stay with the project for a long time. Besides, it is to apply the special Earning mechanism that was mentioned in the previous article “What makes Faraland’s Earning mechanism different from other projects?“. We only create a safe and attractive environment for users to experience the game. Those who understand the project and know how to take advantage of blockchain can earn profits. Although Faraland has not released the game officially, there are many people who can make a profit from selling heroes and items. Moreover, even the staking service rented to other people’s heroes brings a steady income to participants. In the future, we want to create a game world where everyone can participate and immerse themselves in fairy-tale adventures. The reward is to receive special items; therefore, people can freely trade with each other through the in-game economy. In fact, the Earning mechanism will still be there, but it only plays a part of what users receive during the game. We always prioritize the gaming experience and put the gameplay factor first, which is the core value of Faraland.
In addition to creating a complete game, our further idea is to build a long-term and sustainable ecosystem for Faraland, making it different from a regular game. The application of Fara token is not only used in playing games, its holders will have a lot of benefits related to future projects of Moon Knight Labs. This makes FaraCrystal’s intrinsic value even greater when the ecosystem grows. In fact, we have been already preparing and will launch FaraStarter – a launchpad platform for potential new projects. These projects are researched and selected by Moon Knight Labs. That is considered the next step to build a strong ecosystem for Faraland. In the future, we will have many surprises for users.
Creating a game will take time and effort. Making a blockchain game takes even more. In addition to gameplay, creating many use cases for tokens is also very important to the economic system of the project. Moreover, many aspects need to be carefully considered to create a complete and sustainable product. We are still steadily on the track of the path outlined from the beginning. Quality products will always have a chance, that’s what we aim for.
What is Faraland
Faraland is a role-playing strategy wargame for Android and iOS, developed on blockchain by MoonKnight Labs, a company based in Vietnam. The players control the characters of 7 races: Humans, Orcs, Elves, Fairies, Dragonborns, Angels, and Demons — each with different abilities, strengths, intelligence, and agility, to fight with other players in a universe called Faraland. The game will be released in Q4 2021.
Faraland is an innovation project combining NFT technology and gaming experience. Not only are all exquisitely digital collectibles created using blockchain technology, but all NFT in Faraland can also be integrated into Faraland games later, which will help them increase the value. NFT is the soul of this project. Each Hero, NFT of Faraland, is unique. Each collectible is matchless, genuine, and varies in rarity. Faraland Universe has many different races like human, orc, angel, demon, Dragonborn, elf, and fairy, awaiting the users to discover.
Faraland is different compared to other NFT projects where NFT is solely used for collection. With many exciting gaming activities, Faraland’s users can use their NFT heroes in many unique ways, from equipping them with powerful weapons or shining armors to engaging them in various thrilling battles. It’s a solid and exciting game with a fundamental and engaging storyline. We also focus on the “play to earn” mechanism, making Faraland far beyond a regular game. A variety of options are also available for users, including reinvesting in the game, making your heroes stronger, or cashing out. Our vision is to make Faraland a “dream job” by providing players worldwide opportunities to generate regular income from the project.
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