Fief
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Fief

Standardizing Fief Guild Rewards With The Metaverse Season Pass

TL;DR:

  • Fief is ending the sale of IGMs on August 31, 2022, officially concluding the “initial” era of the guild.
  • Following this time, Fief will launch the Metaverse Season Pass, a new NFT-based point system where users earn tokenized rewards within a defined timeframe by holding Season Pass NFTs or IGMs.
  • With this upgraded model, IGM holders benefit from more FIEF rewards, greater IGM scarcity, secondary market liquidity, and perpetual access to all Seasons.
  • To further reward early Fief supporters, all IGM purchasers prior to August 31, 2022 will also receive an additional, free plot of Faction-matched land for future land play (random rarity).
  • IGMs can be purchased today in the Fief Marketplace — all IGM price tiers have been removed and can be purchased for original launch price!

Introduction

In March of this year, Fief introduced a unique approach to gaming guild membership with the Initial Guild Membership (IGM), a limited-edition NFT collection that rewards holders with a 200-day allocation of the Fief Token (FIEF) plus continuous, adhoc first- and third-party rewards.

IGM NFTs come in a variety of rarities (Uncommon, Rare, Epic, Legendary, and Majestic) and are categorized into 5 major factions (Merchant, Craftsman, Farmer, Bishop, and Alchemist). 3,221 IGM NFTs were initially available per faction, bringing the total NFTs available to 16,105.

Fief initially set out to distribute 65% of the total supply of FIEF to holders of IGMs where the full allocation could only enter the circulating supply if all IGMs were purchased. To date, a total of 259 IGMs have been distributed, which are currently held in 163 wallets.

Today, we are introducing an upgrade to Fief’s membership system that will officially end the sale of IGMs on August 31, 2022, burning the remaining unsold supply in order to make way for the Metaverse Season Pass.

In this writeup, we will detail this membership system update while highlighting near-term next steps and major benefits to current IGM holders.

Metaverse Season Pass

The Metaverse Season Pass is a new NFT-based point system where users earn tokenized rewards within a defined timeframe.

Inspired by the Battle Pass concept made popular in mainstream game titles such as Fortnite and the Call of Duty series, the Metaverse Season Pass allows users to progress through reward tiers at rates determined by the quantity and type of NFTs they hold.

Each Season will feature rewards such as FIEF, Blood and Coin assets, collectibles, Avatars, and third-party NFTs & in-game currencies. Fief intends to focus its business development efforts to bring on major game partners to sponsor Seasons with in-game rewards, whether through direct marketing budget giveaways, Season Pass revenue share, or exclusive sales and discounts.

Season Pass NFTs

Season Pass NFTs will follow the same rarity-scale that was implemented with IGMs, with the addition of a Common rarity tier.

Each rarity of Season Pass has an assigned number of points that it accrues per period. The period in this case is arbitrary and will be determined each Season based on a number of factors, including available rewards, third-party sponsorship, and Season length.

Each Season Pass NFT can only be used one time and users may use multiple Season Passes at a time to boost their point accrual and access the higher reward tiers.

Protocol Integration

In the current model, point progression is fairly straightforward as determined by the types of NFTs a user holds.

However, the Metaverse Season Pass concept opens the door for a wide range of protocol integrations across Fief.

As an example, there could be a situation where users are able to amplify their points/period by staking FIEF — the more FIEF you stake, the more rewards you can accrue. We are excited to explore these concepts further, bringing a new facet of gamified utility to the traditional protocol layer.

FIEF Distribution

With the sunsetting of the IGM-based distribution of FIEF, the remaining supply attached to unsold IGMs after August 31, 2022 will be distributed through Season rewards, protocol incentives and Fief Potions (more on these soon).

This means that Season Passes will become a primary method by which FIEF is added into the circulating supply. This opens the door to precise supply controls that enables the Fief team to release more or less FIEF in any given Season based on market and protocol factors.

After August 31, 2022, we will be able to provide a more refined distribution breakdown as we will be able to map all ongoing and planned FIEF distributions via IGMs.

Note: all IGMs will receive their 200-day distribution if purchased before the cutoff date.

Technical Implementation

Fief has already introduced a robust infrastructure for off-chain reward progression and tracking with the IGM. This infrastructure will be leveraged to allow users to accrue points off-chain and claim their rewards as they progress through the tiers.

As the Season Pass is meant to cover the entire Metaverse, we are investigating approaches to omni-chain Season Pass NFTs and reward accrual. This is an important step as it allows Fief to expand into network environments with greater liquidity and user numbers.

Note: we will be releasing Season Pass NFTs on Ethereum and Avalanche to start.

Benefits to Current IGM Holders

With the Metaverse Season Pass, access to rewards becomes a dynamic process where users need to constantly re-up their membership each Season.

But this is NOT the case for IGM holders, who will enjoy perpetual access to Season rewards moving forward. That’s right — as a big thank you for being an early believer in Fief, your IGM will serve as a perpetual Season Pass, providing you with a base level of rewards that can be further expanded by adding individual Season Pass NFTs, if so desired.

Additionally, IGM holders will enjoy a far greater FIEF distribution than what was originally allocated to any single IGM. This is due to the fact that a primary method of distributing FIEF will now be through Season reward tiers, thus you will be able to keep stacking FIEF far after your 200-day primary rewards have concluded.

Finally, the end of the official primary sale of IGMs opens the door to secondary market liquidity, which ultimately is required to establish a healthy Fief economy.

What Happens to Faction-based Fee Share?

Faction-based fee share is managed through land plots. Each IGM holder will receive a plot of land that matches the rarity of their IGM — this land is your ticket to tapping into fee flows through Blood and Coin.

The introduction of Season Passes does not impact your ability to earn fees. Fief plans to sell all unclaimed land attached to unsold IGMs directly through the Fief Marketplace on Ethereum starting this Fall.

Timeline

We are planning on ending IGM purchases on August 31, 2022. As an added benefit, we will be resetting all IGM prices to their original tiers and all IGM buyers prior to this end date will automatically earn an additional, free plot of Faction-matched land for future land play (random rarity).

Concurrent with the sunsetting of the IGM purchases, Fief is staging an expansion onto Ethereum, which will include a number of deployments that will be covered in separate writeups.

These deployments will bring us into Q4, which is our goal for launching the Metaverse Season Pass.

About Fief

Fief is the first economic guild of the metaverse with the primary objective to build decentralized protocols and game systems that plug into popular metaverse projects.

Website | Docs | Twitter | Discord

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