MetaRace Tokenomics
MetaRace aims to combine the world of NFT and eSports, where players can have fun with the opportunity to earn much more prizes than in an average Play2Earn project.
In addition to the intro article describing the MetaRace project with its ambitious GameFi model, we present an economic model that makes the native RACE token a solid foundation for building a sustainable game.
In short:
- RACE will be used for in-game purchases;
- Players will fight for promotion to higher leagues and tournament earnings;
- The emission of RACE is strictly limited, making it an attractive asset to invest in.
RACE token usage
In-game items
First of all, the token is required for the purchase of game items as well as secondary trade on the built-in auction.
There will be two types of items in MetaRace:
🚜 Game attributes that the player can use multiple times before the start of the match, such as an upgraded car.
🚀 Boosters: A player acquires the right to use a booster when they encounter one on the map. The booster must be picked up during a match in order to use it in the game.
The injection of items into the game will be implemented through the loot box drops, generally timed with some kind of event.
As an example, for the New Year’s there may be a release of Christmas items, where you can randomly get a Santa’s sled that replaces your tractor, or an acceleration booster in the form of a firework by purchasing a loot box.
More details about the game attributes and boosters will be revealed in a separate article.
Acquiring experience points
As will be described below, leagues will play an important role in MetaRace. To speed up the player’s professional growth, there will be an option to buy experience points to participate in more profitable tournaments.
Sponsor maps
Initially, the game will come with a single map, but partnering blockchain projects can use RACE tokens to get their themed virtual spaces in order to promote the project.
RACE token buyback
To participate in MetaRace, users will be required to lock their NFT (such as a duck or duckling) in a special smart contract. If this token has a staking capability, this capability will be utilized, forming a constant inflow of funds into the project’s coffers.
For example, in the case of Waves Ducks, all ducks locked in the game will be used to farm EGG, which will be used to regularly buy back the RACE token.
Therefore, the RACE token gets multiple ways of utilization from the very beginning, as well as a stable buy pressure, which makes it a solid asset attractive for investment.
Game leagues
In order to distribute players according to their level of proficiency and complexity of battles, MetaRace will introduce in-game leagues. Players will be able to advance from league to league by earning experience points.
Depending on the number of experience points earned, a player belongs to the following leagues:
League 1. Earth — available to everyone by default
League 2. Mars — available on reaching 1000 experience points
League 3. Jupiter — available on reaching 5000 experience points
Depending on the league selected, the player gets to use different game items (for example, the coolest ones will be available for use only in the higher league), as well as different experience point multipliers.
For each victory, the player receives a number of experience points corresponding to their league level, e.g. 2 experience points for a victory in a Mars league. For each defeat (regardless of the league) the player loses 1 experience point.
Experience points can also be purchased with a RACE token: one experience point will be worth 1 RACE at the start, but this value can be adjusted in the future.
Of course, over time, the selection of game leagues will be expanded and the players’ space journey can be continued. Before we get to the “When Saturn?” question, we expect to see at least 200 people reaching League 3.
Tournaments
Tournaments, as well as loot box drops, will be timed with various events and held every 2–4 weeks. The tournaments will have a prize pool in RACE tokens, which will be distributed among its participants.
It is possible to hold tournaments for individual leagues or in all leagues at once. The higher the league, the bigger the prize pool.
Thus, the best strategy for the player is to gradually level up during the off-season in order to earn experience points and reach the highest league possible. This process should not be a chore, but fun activity, since skill, and not the time spent, is the key
The more experience points a player earns during the off-season and the better set of items matching their strategy they get, the better the chance to be successful in the next tournament and earn RACE as a reward.
RACE token emission
The initial emission of RACE will be 1 million tokens, distributed in the following proportion:
- 500,000 tokens will be sold through launchpads for EGG tokens;
- 200,000 tokens will be the team’s share with a 1-year vesting period;
- 200,000 tokens will be the share of private investors, ventures prioritized;
- 75 000 tokens will be spent to provide initial liquidity;
- 25 000 tokens will be used for marketing activities.
The only source of additional tokens will be tournaments. The team reserves the right to issue the RACE tokens once a month to form the tournament prize pool with the following restriction:
MaxTokenIssue = (MAU * NumberOfLeagues / Price(RACE)) * (500000 / Circ Supply)
This restrictive barrier guarantees the dependence of token emission on the game’s popularity.
Let’s say, with a monthly audience of 100,000 people, five available leagues, and a token price of 20 USDN, the maximum monthly emission will be about 25,000 RACE tokens, which is the equivalent of 500,000 USDN used in the tournament prize pools.
This is the maximum prize pool limit. The regular tournament prize pools are likely to be much smaller.
With its versatile applications and limited emission model, the RACE token should be a reliable tool for supporting the entire MetaRace game model.
Through a combination of tournaments and leagues, the project aims to implement an interesting and profitable format for spending time for both gamers and NFT enthusiasts. Moreover, with time, tokenomics will be expanded to include other aspects of the project, such as the integration of new NFT universes.
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