Using a Token to Shape an Ecosystem
Last week’s article discussed the potential available within a VR metaverse. What it did not discuss, however, was how such experiences can be facilitated by a token.
This week we wanted to highlight the impact and influence our utility token, $VIVE, has (and will continue to have) as our ecosystem develops.
What is $VIVE?
$VIVE is an ERC-20 utility token on the Polygon blockchain. Currently, $VIVE can be earned in our play-to-earn (P2E) NFT games Flappy Pigeon and Eggsplorer. So far, over 4.1 million $VIVE has been earned in these games.
$VIVE’s current utility lies in the ability to mint Pre-Release Booster Packs, which will be exchanged in the future for NFTs from our gaming-focussed collection. Minting a pack currents costs 500 $VIVE, and over 3,500 packs have been minted by just 56 owners!
By using our own token, we are able to reward players and incentivise play, control in-game economics, and create a sustainable gaming ecosystem. More details surrounding general tokenomics can be found here.
Building a marketplace
While $VIVE will have many additional utilities, many of them will be facilitated through a marketplace or game.
Our MVP (minimum viable product) surrounding the marketplace began last year, where users were able to mint NFTs (Eggs) on our website for MATIC. This was then expanded as we allowed users to mint booster packs for $VIVE.
To test out new features and bring additional utilities to $VIVE, the team has been working on new contracts which will allow us to sell ETC-721 and ERC-1155 NFTs for $VIVE. While we could use this opportunity to make a new collection to sell, we wanted to find a way we could support the wider Polygon ecosystem, as well as showing the opportunity of our marketplace to support more than just our own collection.
We will be working alongside a few existing projects who are well known and trusted within the Polygon community by bringing their NFTs to you for $VIVE! While we will be starting with only a few collections (and only a few NFTs from each), this will be expanded on a case-by-case basis, as we form new collaborations and find new projects who want to be involved.
If you already own some $VIVE, or one of our NFTs, now would be a great time to consider what you may want to use it on!
While this marketplace is starting with NFTs, there is nothing stopping us from expanding this into other virtual goods/services and even physical products. Updates surrounding these will be released in the future. Additionally, while $VIVE will be the current usable token, there is nothing stopping us from expanding to more commonly used tokens (or even allowing projects to sell assets with their own native token).
Embedded experiences
Our long-term plan for the marketplace currently includes the creation of integrated wallets, which can be used both within our website platforms and any other digital (gaming or VR metaverse) projects, for a seamless experience.
In doing so, we will be able to efficiently and conveniently sell NFTs usable within the respective platform without taking away any immersion or impacting the experience. The full capabilities and plans for each of these additional products will be released in the future.
Closing thoughts
$VIVE will form a core component of each experience we build within this project. $VIVE earnings can be accelerated by owning multiple NFTs (which, alongside our multipliers for playing on the weekend, can lead to significant amounts of $VIVE earned)!
By picking up a Pigeon or Egg and getting involved in our games, you can be well-prepared for when a utility comes out that you are excited about.
How to Join our Ecosystem
By holding one (or more) of our Pigeon or Egg NFTs and playing their respective P2E games (Flappy Pigeon or Eggsplorer), you will be able to earn our utility token $VIVE. $VIVE can currently be used to purchase NFT Booster Packs, but will also have additional utilities both within and outside our metaverse experiences; examples of potential utilities include (but are not limited to) digital land, assets, and cosmetics.
Remember, these games are only P2E for Pigeon and Egg holders, so do not miss out!
Pigeons: https://opensea.io/collection/projectpigeon
Eggs & Booster Packs: https://projectpigeon.io/landing
That’s all from us for this week, if you have any questions, you know where to find us:
Website: http://projectpigeon.io/
Twitter: https://twitter.com/ProjectPigeons
Telegram: https://t.me/+CaAO7HZYImIyOWIy
Discord: discord.gg/YGx3sVFWa9
