A Different Look at the SOUL Tokenomics…
If you want a traditional look and a deep dive into tokenomics, I invite you to check out the post by Crypto Rookies. As always, he does an amazing job with his deep dives. You can read his review here: https://cyrator.com/post/6462d6f9f302d1eb7d7aead8
This is a GameFi project, so I want to look at how the SOUL token will be used in the game and how the team at The Unfettered has come up with some cool deflationary mechanisms to offset the inflationary emissions from staking, and so on.
As an OG Diablo addict, I would have loved a system like this back in the day where I could have earned tokens (real revenue) for all the hours I spent adventuring and hacking open treasure chests.
Most Web2 games have some in-game marketplace where you can trade, upgrade, or sell the items you find, but it's only for in-game fake gold, silver, or whatever. Now that games like The Unfettered have crossed the Web3 barrier, you can earn tokens to redeem for real money. There are also numerous NFT marketplaces where you can list the items (NFTs) and aim for even bigger rewards. You can even rent out your items!
The Unfettered team also plans to offer traditional staking to give their non-gaming investors an opportunity to make some passive income.
Gone are the days when you had to go to special websites to strike a deal with a stranger who would PayPal you $10 if you met up in the game at some predetermined spot and drop your items for them to pick up. Now it's all on-chain.
So now that we've talked about how to earn SOUL (inflationary part) let's talk about a couple of cool ways they will support a deflationary model to keep the SOUL at a stable value.
Here are some of the primary in-game deflationary mechanisms:
- Some of the character's SOUL is burned upon a character’s death! How cool is that? Finally, some real skin in the game!
Do you want a second chance to continue with that character from where you died, with all your items? Well, that will burn even more SOUL!
-
The next cool thing is equipment wear. Once you have your badass flaming sword of soul reaping you are using to slay through the AI-based NPCs like a hot knife through butter, you'll need to spend SOUL to keep it in top shape.
-
Lastly, there will be weekly burns of SOUL based on earnings from the in-game marketplace. That's right, as players spend SOUL for cool weapons, spells, and upgrades, a portion of that SOUL will be burned!
Another cool feature, which is not directly deflationary but is more of a means to control inflation, is a slick “limiting mechanism” inspired by PoW mining difficulty. They will track individual players’ weekly earnings and apply a damping factor to keep inflation under control. Also, it is common in these games that players can gain too quickly via hacks or bugs. If that happens, the system can ban the player and burn the SOUL they unfairly acquired. Too cool!!
I no longer have time to play games like this, but I might try to sneak a couple of hours here or there to scratch my old-school gaming itch. I really love how this game has real money implications for winning, losing, and especially for cheating. This is a full 5-star tokenomics in my spell book! Show Less
3
