No Free Lunch in XOCIETY #1: A Healthy Economy.
A regular series expanding on the core Web3 principles of XOCIETY
Pioneers, XOCIETY has been steadily showing off in-game footage and images, but now it’s time to get deeper into Web3 principles. In a regular series, we’ll be calling No Free Lunch. XOCIETY will start to expand on its core Web3 principles.
Strap in and get ready, first up we’ll be touching on the idea of a “healthy economy” and expanding the details over the coming weeks, ready? LFG!
A healthy economy demands the limited availability of resources.
This principle implies that for an economy to thrive, there must be scarcity. Resources can’t be abundant or readily available for everyone. Why? When resources are limited, it creates competition over and motivation to collect these resources. Not only that, but it forces choices by holders on how best they should allocate the limited resources they have.
So scarcity is a necessity in a healthy economy and in a gaming economy, this is because it serves two essential functions. It maintains price stability and stable price growth. Scarce goods create demand and thus leads to price increase and value increase for the goods themselves. Of course, the opposite is true, readily available goods see their appeal diminish.
Scarcity <drives> desirability + increased demand = value
Scarcity and Web3 games.
Web3 game builders know the importance of scarcity in creating a robust in-game economy. However, establishing a stable demand flow is complex. To be successful it relies on deep user involvement and a driving reason to engage with the game. Namely, fun. Fun is directly linked to creating enough drive for players to overcome scarcity-created grind.
Game builders must find engaging ways to create and manage scarcity within a game world to maintain the appeal of in-game items and resources.
No Free Lunch in XOCIETY: In-game Economy Impact.
The central philosophy behind XOCIETY is “no free lunch.” When applied to resources in XOCIETY, it means players will need to work hard to acquire them.
XOCIETY recognizes the importance of scarcity in creating a robust in-game economy and intends to address the challenge of establishing a stable demand flow by creating an immersive and engaging gameplay experience that encourages deep user involvement.
In further entries in this series, XOCIETY will demonstrate how we will achieve this goal.
Recent updates from XOCIETY
Two major milestones as we continue toward releasing a playable NFT holder demo.
Details on how to get on mintlist.
XOCIETY’s first major partner, Ben Mauro (The Hobbit, Call of Duty, Halo), and his EVOLUTION project.
Shoot, Earn, Pioneer. Now We Live in XOCIETY
Web: xociety.io
Twitter: @xocietyofficial
YouTube: XOCIETY OFFICIAL
Discord: https://discord.gg/xocietyofficial
Linktree: https://linktr.ee/xociety
