ArchLoot Year In Review 2022
Milestones and an upbeat outlook for the future
For ArchLoot, 2022 was a momentous year marked by steady progress across our pipeline of product development and community and ecosystem building. The last four quarters have seen notable project advancements, which include overcoming the common challenges shared by Web3 games and coming up with creative solutions to carve a way out on our own.
ArchLoot notched quite a few milestones.
Quarterly Highlights
*The following content is summarized based on the latest ArchLoot roadmap. Details can be found here.
2022 Q1
- Team building
- Game development
- NFT system development
- Internal testing
Pivotal Moments
The team expanded the technology development globally and came up with the new interactive NFT technology to suit the gameplay feature of ArchLoot, which was made possible by the EIP-4985 and the BEP-129 protocol.
Monsters in the game are composable avatars that come in loot-style NFT parts. Gamers can freely assemble their monsters from a whole NFT directory, where every siloed part can be respectively levelled up or re-designed. Protected by a treasure contract, all metadata of user modification will be logged on-chain when an NFT goes into the marketplace. The technology also allows the creation of any digital properties in the form of numbers, which significantly lowers the barrier to cross-ecosystem collaboration.
2022 Q2
- Fundraising
- Project launch
- Community building
- Mystery box sales wave I
- Closed Beta Test phase I
- Bithumb-drop event
Pivotal Moments
The official marketing operation started on 1 April 2022. Shortly after that, we conducted a Closed Beta Test Phase I with 100 testers (among 2000+ candidates) and collected valuable feedback for numerous aspects of the game.
Later in a stake-to-earn event on the leading exchange Bithumb, ArchLoot Governance Token (ALT) was chosen to be the reward for staking Binance Coin (BNB), which was sold out in the Korean market within 30mins.
On 10 June 2022, a total of 200 ArchLoot mystery boxes were sold out within 10s on the Binance NFT platform, which was later ranked Top 2 on the Daily Top Collection of the platform.
During this period, the team also managed to close 3 rounds of funding by raising over $17M from a clutch of investors including Alphabit, YBB, y2z Ventures, Kryptos, FBG Capital, Stratified Capital, and Principle Ventures. The funds have been put to prudent use since then.
2022 Q3
- Bug fixes & gameplay enhancement
- Marketplace/dashboard development
- Durability system development
- Mystery Box Sales Wave II
- Closed Beta Test Phase II
Pivotal Moments
On August 8th, ArchLoot launched our second wave of 1,000 Mystery Boxes on the Binance NFT platform. The public sale went live at 11 AM UTC, and all NFTs were quickly taken.
Based on user feedback collected in CBT 1, the team has made major improvements on several spectrums, including compatibility, content, and languages. And on August 18, ArchLoot rolled out a week-long Closed Beta Test Phase II, which attracted over 3000 candidates and 300 of them joined the test.
One unique design is the durability system, where every NFT, no matter how rare it is, has a fixed length of usage. Unexpected circumstances like a failure in PVE could shorten 5% of the lifespan. There are no other things but repair potions (available in the chest and the marketplace) that can work the magic. The advent of this system showcases the team’s strong will to maintain a healthy economy.
2022 Q4
- Enhancement of gameplay and graphics
- Partner network expansion
- Closed Beta Test Phase III
- Token listing (on top Korean exchange Bithumb)
- Security audits
- Partner incentive system development
- New official website development
- Monthly pass system development
Pivotal Moments
During this period, ArchLoot had rapid growth in community and ecosystem, building a resource pool with over 70 guilds and inviting over 20 of them to the closed beta test.
From October 20 to November 2, ArchLoot conducted the Closed Beta Test Phase III with joint efforts from guild partners and pulled it off to onboard over 8,000 web2 and web3 gamers from 26 countries and regions, out of 10,000 sign-ups in total. Over 42% of users continued to play the game after their first launch after one week. The peak hours captured over 3,500 online users. The game is especially well-received in regions like MENA, LATAM, and Southeast Asia.
On November 23, 2022, ArchLoot announced that its governance token $ALT had been live on the cryptocurrency exchange Bithumb’s KRW and BTC market, with trading starting at 2 PM UTC+9.
As per a brief introduction in the open letter, during this period, the team has been working on achieving security certainty for both the on-chain and off-chain gaming experience. It also got prepared for mass growth by integrating a new partner incentive system and adding new features to it.
In the meantime, to protect the long-term financial health of the game, the team has not only developed a set of supportive projection tools and safeguarding mechanisms but is now upgrading it to add a new monthly pass system. The advent of Adventure Pass, Goblin Pass and Collector Pass will make a true difference in a sustainable economy.
The Road Ahead
Looking back at 2022’s project highlights, it’s hard to believe all of these milestones happened in one year. The coming year will be shaping up as a busy one for a quality Gamefi project. The first year of launching is defining as it is our starting point. The next would be even better. A series of events are being implemented as we updated the plan.
Upcoming Milestones
- Open beta test
- Official launch
- New features of the partner incentive system
More to be Expected
- New parts, consumables, competitions
- New gaming mode
- Enhancement of Open World
- UGC-NFT collection showcase room
- UGC-NFT marketplace & OpenSea integration
Heading into 2023, we remain committed to building an impressive web3 game and leading more innovative development to address more unmet needs of players. We are strategically positioned to execute on anticipated new milestones and beyond. Stay close to us!
