Music-to-Earn in Cadenverse
Today I would like to introduce you, how Music-to-Earn works in Cadenverse.
A little bit of background here, Play-to-Earn games have been mushrooming in the past year, following the success of Axie infinity. However, up until now, all blockchain game companies have struggled to find the right balance between money inflows and outflows, a main part of the outflows being the “Earn” of P2E.
Earnings in P2E games do not come out of thin air. In most of the Web3 games, new players’ money inflows — through entry fees, often taking the form of NFT characters — will fund current and future players’ earnings. But this model is difficult to sustain: if the studio fails to attract new players, the token will inevitably enter a downtrend trend, which would be almost impossible to recover from.
From Play-to-earn to Play-and-earn
The current tokenomics paradigm is shifting from Play-to-Earn to Play-and-Earn. Play-and-Earn advocates that players should first seek enjoyment of the game itself rather than earnings. Some players will not earn or even “break-even” but would still be happy to play if they enjoy the content provided by the game — as in traditional games. In that perspective, the play-to-earn part would then be closely linked to the game intrinseque enjoyment goals: competition (winner-takes-all), luck (loots), efforts (grinding) but not a necessity for all players.
In Looper Band, we aim for players to develop their musical listening in a fun way. The PVE mechanic is designed so that players can feel rewarded when improving their music listening skills. We do not expect players to get rich through that mechanic. We believe gamifying and incentivizing learning can create a positive momentum for the player’s music journey.
For players who aim to earn big bucks, they can challenge others in the Band Battles (PVP). This competitive mode is a winner-takes-all. You can lose or earn a lot depending on your listening skills… and luck.
Contribution to the music multiverse
Another principle, shared by most Web3 games and apps, is that users or players that contribute the most to the community should be rewarded.
In Cadenverse, our mission is to liberate creativity and let everyone create and play with music in a fun way. That is why we want to reward creators, regardless of whether they are professionals or talented amateurs, based on how much their work is played and appreciated by the community. Through smart contracts, we will ensure that any content creator whose music is used and generating money in the ecosystem receives fair royalties.
Diversifying inflows for a sustainable ecosystem
To avoid putting all the weight of the tokenomics on new entrants, Cadenverse team will create diversified streams of revenues.
First, we plan to propose cosmetic items that will enable players to further customize their musician NFTs because great bands need to look cool! These items will not provide benefits in the gameplay phases to avoid pay-to-win behaviors. We will also take a transaction fee from the marketplace, that we will progressively open to creator collectibles that may not be directly related to the games such as Song collections from artists.
We are conscious that these mechanics will take time and iterations to balance, especially with multiple games having different earning and spending mechanics. But we are confident that we can build a sustainable multiverse for all players and creators to Play, Create or Earn with music.
So, what is Music-to-Earn?
Well, Music-to-Earn is our catchy concept to encompass our ecosystem principles above!
🔸 Cadenverse, a company spun out of Vietnam-based music tech startup Amanotes, is trialing a novel approach of marrying its music NFT platform with play-to-earn (P2E) games.
🔸 New decentralized music distribution and Game platform powered by blockchain technology. Our mission is to liberate creativity and let everyone create and play with music in a fun way. We want to deliver the best music experience to our players while ensuring transparency and fair payment to content artists in the ecosystem.
🔸 Cadenverse is described as a Music Multiverse where players and their characters will freely navigate between different universes to create and play with music. In this multiverse, users will either “play to earn” as players or “create to earn” as content artists. They are building Cadenverse to be a sustainable and increasingly rich musical environment where all players and creators can have fun while earning real financial benefits in exchange for their contribution to the community.
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