The Crypto Tokens of BoomLand Blockchain Platform Explained: $BOOM and $BGEM
A Handy Guide to BoomLand’s Crypto Gaming Tokens
In this article, we take a deep dive into BoomLand’s blockchain economy and the two types of crypto tokens. Grab a coffee and dig in!
What is the BoomLand Platform?
BoomLand is one of the first blockchain gaming platforms with its own sustainable blockchain economy. In this amazing virtual world, gamers and developers can both earn their very own crypto tokens, known as $BOOM and $BGEM, for playing and providing content.
The BoomLand Vision
The vision is for a platform with fantastic games where you can safely earn and exchange our tokens and NFTs. It is a world where you can interact and be part of a community using your NFT Heroes.
The Play and Earn Philosophy
The BoomLand universe is ‘a player-owned economy’ with its own Marketplace. The emphasis is on giving the community a voice in how the platform evolves. They can earn tokens, buy, sell and lend NFTs, craft Items and summon new Heroes.
Two Types of Tokens
There are two types of crypto used in BoomLand games: $BOOM and $BGEM.
- The governance token $BOOM is the most valuable resource in the game and is designed to capture the overall value of the ecosystem. $BOOM token holders will be able to receive some of the most valuable benefits from the ecosystem.
- The in-game currency of BoomLand is the $BGEM token. This is the main reward that players will receive after completing games; this currency is crucial to purchasing Items in the shop.
Passion Income
We coined the phrase ‘Passion Income’ because we want players rewarded for their time and devotion in playing games and being part of the community.
$BOOM Tokens
You need these to buy NFTs and to exchange them to $BGEM which is the other type of crypto token in BoomLand.
$BOOM is a fixed supply token that will manage its scarcity through a staking incentivisation mechanism.
Staking is the mechanism of “locking” your token in the platform and receiving several rewards in exchange. For example, a boost in staking Annual Percentage Yield (APY), access to limited events, eligibility to receive promotional drops, etc.).
Several liquidity pairs will be provided in partner Exchanges and in the future, within our platform with some of the most popular cryptocurrencies.
$BGEM
$BGEM or BitGem is the second type of token in BoomLand. We have designed this token to “self-regulate” itself through a mechanism called algorithmic stabilisation.
This mechanism will see a daily token supply being minted (with an unlimited supply) whilst an oracle will ensure that the supply minted is carefully driving the price of the token toward a fixed peg value (for example, 1 USD = 400 BGEM)
$BGEM is used for upgrading, purchasing access to some events, non-NFT items, consumables, and Hunt Boxes on the BoomLand gaming platform.
We will provide a single liquidity pair for the $BGEM against $BOOM
How to Use the Tokens in Game
Here are the main ways of how you use $BOOM and $BGEM in our first game ‘Hunters On-Chain’.
Trade: A player can trade Items with other players e.g. Hunter Shards, Equipment or Artifacts which can be purchased from Hunt Boxes for $BOOM tokens.
Hunt: Players can also take part in regular hunts or seasonal events for both $BGEM and, rarely, even $BOOM tokens.
Summon: Summoning is another fun feature where players can collect or trade Equipment in order to Summon and trade newly minted Hunters in the BoomLand Marketplace. Summoning will require $BOOM
Lend: You can lend Hunters to other players that you’re not using to earn passive income such as a fixed fee or a revenue share, or even a mix of both types. Over time you can watch your earnings building up.
Stake: Staking allows players to lock their token in-game and earn an associated variable Annual Profit Yield (APY). This mechanism will incentivise players to organically reduce the total circulating supply of tokens, whilst providing a huge in-game benefit to the players that do it.
Boom Power
This is a tool that will allocate a value for all the assets a player owns in BoomLand. Increasing your Boom Power level will be crucial to unlock further benefits in the games.
Boom Power will be the same across ALL the games within the BoomLand ecosystem. So if you gather massive Boom Power in Hunters On-Chain, you will be using the same Boom Power on all future games of BoomLand for a massive head start!
Ways to Earn Tokens
You can earn tokens in Special Events and Mini Games such as Tower Defense, Races, Survival mode and many more. But first let’s explore how you earn in the gameplay modes:
Hunt
This is a Co-Op game mode where 4 Hunters fight in the arena all wanting to be No 1 after 3 minutes of battle. You must survive the hunt to make $BGEMs and the amount of $BGEM you receive is calculated based on multiple factors, such as rank, hunter’s yield, $BGEM oracle algorithm and a few other elements.
Boss Hunt
In Boss Hunt mode 4 Hunters face enemies that get increasingly harder until you face the final boss. Your ranking depends on the damage you did to the boss and you can collect $BGEMs as well as Equipment and artifacts.
Co-Op
Two players are paired up to protect the king in a survival scenario. After facing a barrage of enemies you will receive $BGEM according to how many waves you survived.
Duel
Player vs Player dueling in a two out of three match, you pay to take part and are ranked with a similar opponent. Whoever is victorious takes the pool of $BGEM and $BOOM.
Bounty Hunter
Pitched against 9 others you go head to head in a battle royale mode. It costs $BGEM or $BOOM to enter and you will be matched at the same skill levels. Winner takes all, $BGEM and $BOOM, from the pool.
Hunt Boxes and $BGEM
With $BGEMs you can buy Hunt Boxes at different levels of rarity. Hunt Boxes are chests with NFTs inside: Hunter Shards, Equipment, Artifacts and very rarely a new Hunter. Chests also contain $BGEMs. The different pricing of boxes depends on the worth of the contents.
Long-term Sustainability
This is a 100% player-owned economy run by players; a self-sustainable, circular economy. To increase the circulation and earnings of $BGEM, players will have an option to join a Clan where they can earn more BGEM, or buy an Arena or a Dungeon to earn passive income as other players fight in them.
Token Yield Staking by NFT
Yield power is a mechanism designed to capture and store the accumulated value that each Hunter will gain throughout its existence. Yield power can be increased in many ways.
When Shards are used for leveling a Hunter up, Artifacts are attached to it.
There will be some other occasions to increase the Yield power that will be revealed at a later stage.
Players can expect a significant change in Hunter’s in-game efficiency as the Yield power increases.
In addition, Yield power directly impacts its owner Boom Power. What’s not to love about it!
The Economic Goal of BoomLand
The main economic goals of BoomLand are to create a self-sustainable game economy, where users can gain value from trading and borrowing while playing games that they truly love and enjoy. In BoomLand, players can grow the value of their digital assets simply by playing and having fun with BoomLand crypto tokens.
That’s all for now folks. Find out more about our tokens at: https://www.boomland.io
BoomLand, a Proven Track Record
The BoomLand team has a proven track record for over 10 years in the Gaming Industry, delivering over 1 Billion downloads to date. We are now creating the world’s first blockchain gaming platform for players and developers.
Bringing The Boom to Blockchain Gaming!
Contributors
Editor
Richard Ibbotson
Writer
Jamieson Lee Hill
