Blockchain Technology and the Gaming Industry
Blockchain gaming has the potential to change how we think about gaming and how we spend our free time, making it an exciting prospect for both players and developers. Blockchain games have the potential to significantly impact the value chain industry for established businesses and new entrants like GameFi.
There are many potential uses for blockchain technology, and many of these blockchain-based games have already gained popularity. These games do not need a server or a centralized platform to validate transactions and allow players to interact with each other. Blockchain technology is revolutionary, and GameFi's approach is unique. The most widespread application of blockchain technology in gaming would be the implementation of smart contracts, NFTs, governance tokens, and gaming economics.
While cryptocurrency prices have continued to rise over the past ten years, the GameFi market has only recently emerged.
2022 marked the beginning of the blockchain gaming industry's first bear cycle.
December 2022 GameFi Report
The world's largest cryptocurrency company FTX completely collapsing in November was one of the worst things that could have happened, but the GameFi market did not decline significantly from October.
This might mean that the market's downside risk has been limited, barring a systemic collapse; however, the amount of funding and the number of funds invested in the space continued to decline, reaching an all-time low.
According to the latest report from DappRadar, blockchain-based games have weathered the storm in the bearish market compared to other market sectors, such as DeFi and NFTs, which have seen a notable decline in active users in the market in the last quarter of 2022.
Polygon has performed remarkably well as a gaming chain during the downturn, with several sizable titles gaining users.
GameFi Financing & Investment
- The number of Gamefi users dropped to the lowest point in 2022. However, there were 2.4M new users coming in.
- In 2022, the funding amount and valuations dropped to an ATL
- The transaction amount increased in December, but transaction value continued to decline, making the transaction value number grow to $28.33 per user, which was the highest point in 2022.
- A16z was the lead investor in Roboto Games' $15 million Series A round. The traditional gaming studio hopes to expand into Web3 and blockchain.
A small portion of GameFi's previous funding has dried up. Several projects received funding, most of which went to studios and game developers. Most of those rounds were for seasoned developers with a history of publishing successful Web3 or Web2 projects.
Market overview for GameFi
- GameFi's total volume decreased from $260 million to $100 million from October to November.
- Total of 20 million GameFi players in Dec., 1.491 million less than in November
- 2.487 M new users entered the Gamefi market in Dec, 18.4% higher than in November.
GameFi Transactions Overview
- The number of transaction increased by 14.6% from 630.3M to 722M.
- However, the total transaction value dropped by 20.8% to 79.8M.
Because it keeps drawing in great projects, including Planet Mojo, Polygon has established itself as a potential winner in the GameFi market.
Planet Mojo is a web3 gaming metaverse created on Polygon by former employees of LucasArts, EA, Activision, ILM, and other experienced game developers. Players can compete with their customized teams in various eSports PvP and play-and-earn games set on a mysterious alien planet with an evolving narrative.
"Planet Mojo changes the gaming paradigm to play-and-earn by introducing new elements".
The game is based on the 'play-to-own' mechanics, which aim to raise the bar for blockchain games in terms of graphics and playability.
Planet Mojo aims to create a paradigm shift in play-and-own games, where users can play to win and enjoy themselves by focusing on the fundamental elements of Play-and-Earn concepts and tournaments.
The main character of the game is Mojo, an anthropomorphic, magical plant-based creature who must take action to stop a deadly threat. Mojo is essential to all game modes, including the upcoming auto chess game called Mojo Melee, the land-based Biomes game, and other connected experiences that are all based on the Polygon network.
In Planet Mojo, each player will have a unique experience. Every Mojo has distinct qualities and rarities, as well as updated poses and animations when the game is released. It will be possible to produce Moj-Seeds as NFTs.
This particular story was inspired by its creator, who worked for George Lucas at the time and visited Skywalker Ranch. The Mojos are preparing to battle The Scourge, a deadly threat. "Mojo" is short for "magic," "charm," or "talisman," which all refer to the miraculous life forms that Mojos are said to represent. Over time, it will become clear that Mojos have magical abilities.
Planet Mojo hosts two game modes, Mojo Melee (auto chess) and Biomes (land play).
The first game in the Planet Mojo metaverse, Mojo Melee, adds a unique twist to the classic auto battler genre. Most players are used to starting with 100HP and assembling a team from the resources they are given to try to defeat as many opponents as possible until only one remains.
What sets Planet Mojo apart from other games is the ability to prepare your team and choose the units you want to appear in your in-game shop, as well as the fact that Planet Mojo's format moves away from the 100HP model and towards a group stage and knockout structure.
During the planning phase of each match in a tournament, a player can upgrade and deploy their team. Players sit and watch their teams battle once the combat phase begins. Matches are divided into rounds. Each round starts with players receiving gold. With this gold, you can buy champions or spells recommended in the shop based on your chosen team before you queue up.
Champions and Mojos can be placed anywhere on a player's half of the arena. SpellStones come in various types. Some can be placed on the opposing team's side of the arena to damage their units, while others can be attached to players' units as boons, depending on where they are placed. Both types have both offensive and defensive capabilities.
SpellStones - Mojos wield magic from the Aura of Planet Mojo using SpellStones. When a battle begins in Mojo Melee, SpellStones unleash a single, powerful ability. Only Mojos of the associated subclass can use SpellStones because they are bound to those subclasses of Mojos.
Units in battle gain energy by attacking and taking damage. Once their energy is fully charged, each unit's unique ability will be used. Special abilities can alter the course of a battle in various ways. Once you have defeated all of your opponent's champions, you have won the round. There are three rounds in the group stage; if you win two, you advance to the knockout stages.
Players must advance to the semifinals and championship round to be crowned champions. Those who lose in the semifinals can try to make up ground by competing in the third-place game. To win in Duel mode, a player must win three of the five rounds.
Planet Mojo NFTs
Mojo Land and Mojo Melee consist of NFTs you can buy on marketplaces or sell in exchange for cryptocurrencies. Let’s look at the NFTs in each game.
Biome: Come in different ecosystem types like a forest, swamp, coastal, mountain, savannah, desert, swamp, and arctic. These biomes will provide greater earning potential to landholders due to their inherent gameplay benefits.
There are four types of NFTs in Mojo Melee:
- Meet the Mojos
The initial Mojos are of the Plant Class and come in various Sub-Classes such as Leaf, Vine, Flower, and Moss. No two are the same. 3D Mojo NFTs are playable characters in both games and can increase your chances of earning $MOJ.
One Mojo, One Tree: For each Mojo that a user mints, a new tree will be planted in the region of the user's choice through Planet Mojo's partnership with One Tree Planted, fully paid for by Planet Mojo.
NFT use cases
- Fully playable NFT characters that can evolve over time
- Unlock access to different in-game abilities
- Usable in Biome and Auto Chess gameplay
- Tradable on the NFT Marketplace
- Provides access to the Tournament with prizes
The majority of your team will be made up of this player class, which consists of warriors from the clans Clawhaven, Kroker, Primorda, Supremus, Stronghorn, and Furgen. Each Champion has a unique ability, and players must decide how to best combine these abilities to help their team win.
- Clan Banners
These will give players special abilities in the game and increase their collection tier.
Planet Mojo tokens
A brief overview of Planet Mojo’s in-game currency and tokens:
- $MOJ Tokens: the native ERC-20 token of Planet Mojo with staking and governance properties.
- ORE Tokens: the in-game utility and reward weak currency allows players to upgrade their NFTs earned in Auto Chess.
- BATTLE STONES (NFTs): passes to get players into paid tournaments. These are crafted NFTs and can be bought and sold on the Mojo Marketplace for $MOJ tokens.
$MOJ is the native ERC-20 Token for Planet Mojo. It is essential for staking, in-game payments, governance, etc.
ORE is the in-game utility and reward soft currency earned in Auto Chess, allowing players to upgrade their NFTs.
Game Economy Diagram
Unique Features of Planet Mojo
- Promotes sustainability
Through Planet Mojo’s relationship with One Tree Planted, a tree will be planted in the region specified by the user for each Mojo coined, with Planet Mojo paying for the entire cost.
There is a free-to-play option. The game gives four free champions, which you can mint as NFTs later.
- Low learning curve
It is straightforward to play for everyone. Players can start playing with a simple sign-up process with the ability to connect a wallet at any time later to reap the rewards a player accrues.
- Incredible accessibility
Planet Mojo lowers the barrier to playing blockchain games with easier wallet integration. Browser-based gameplay with modern 3D graphics allows all to play.
- Community comes first
Community is a king to the team behind Planet Mojo. Their fans will always be heard and eventually make governance decisions via Discord or Social Media.
- Love the planet
Planet Mojo was built on Polygon due to its incredibly low gas fees. They also plan to partner with carbon-neutral and environmental groups to give back and help the planet regularly.
Team of Gaming veterans from LucasArts, EA, Activision, and HappyGiant
- Mike Levine, Founder and Chief Creative Officer
- Ralph Gerth, Executive Director
- Eric Campanella, Art Director
- Jure Bogunovic, Blockchain Engineer
- Jim Rice, Lead Character Artist
Mystic Moose created Planet Mojo. Veterans from LucasArts, EA, Activision, HappyGiant, and other renowned game studios are among its members.
Blockchain gaming, in the opinion of both players and developers, will mark a significant turning point for the video game industry.
Planet Mojo and The Environment
Planet Mojo, concerned about the environment, also chose Polygon for its highly affordable gas prices. In addition, they have a mission to collaborate with carbon-neutral and environmental organizations as they did with OneTreePlanted, planting trees worldwide. This demonstrates that this game is capable of more than just entertainment and profit; it can also positively impact the world.
The main goal of Planet Mojo, designed to be playable by players of all skill levels, is PvP. The game will be AAA caliber and playable on mobile devices, web browsers, and other platforms.
The long-term goal is to create a gaming platform and project that is sustainable for the next generation of players, allowing them to own their in-game assets and have a say in the project's future direction.
If we add the technical implementation of the Polygon Network, a blockchain with a strong user base in the blockchain gaming industry, to the mix, we have a game that combines high graphic quality and performance with, most importantly, the best speed-to-fee ratio in the blockchain sector. In other words, the platform has all the elements necessary for success.