The GameFi sector continues to be one of the most prominent areas for fundraising in the crypto industry in 2023. One of the recent hot players in this space is Big Time, a large-scale multiplayer online role-playing game (MMORPG) built on the Ethereum blockchain, boasting a leading team and successful fundraising. Big Time has already established the foundations of an MMORPG and conceptualized a sustainable in-game economic system. The game offers an excellent user experience with good playability. Despite the ongoing bear market, the chain gaming sector maintains a substantial presence. As the market undergoes a transition from old to new, it may have reached its bottom, and after consolidation during the bear market, it could potentially drive a GameFi explosion in the next bull market.
Introduction to BigTime
Big Time draws inspiration from time travel, and it is a massive multiplayer online role-playing game (MMORPG). The game's storyline is set in a future human world where a mysterious force threatens the balance of the universe. Time has been distorted, different eras collide with each other, and the space-time continuum is severely disrupted. Survivors seek refuge at the far end of the universe, a place known as "Big Time's End."
Players in Big Time take on the role of time travelers summoned to the edge of the universe by Einstein. In the current game version, players are tasked with delving into Paradox Corporation, uncovering the intentions of Canard Cincade, and thwarting Canard Cincade's plans. Future game updates will unlock additional storyline content.
As an RPG game, Big Time employs a multi-dimensional narrative, with characters traveling through various time periods to achieve specific narrative goals. The juxtaposition of different time periods enriches the game's content, offering deeper narrative potential.
Gameplay in BigTime
To participate in the Big Time game, follow these steps:
1. Fill out the official form to obtain an activation code.
2. Register and create an account on the official website, then download the game client (requiring approximately 10 GB of download space). The game also needs 50 GB of storage space, 8 GB of memory, and a graphics card with performance exceeding GT 1060.
In the game, players initiate their adventure by completing beginner tasks. Subsequently, they confront various monsters, level up their characters, and bravely tackle different dungeons. Some dungeons require teaming up with other players, so cooperation with teammates increases the chances of success. The game also features a metaverse, allowing players to instantly teleport to different locations and explore a broader gaming world.
Economic Model of BigTime
Big Time emphasizes fair competition and a unique economic system that enables players to create, control, and trade virtual skins in the form of digital assets. The game features three key NFT components:
1. The Forge: Used for crafting and upgrading weapon skins, as well as refining skin fragments.
2. The Armory: Dedicated to crafting and upgrading armor skins and refining skin fragments.
3. The Time Warden: Responsible for crafting, upgrading, and charging the Time Hourglass, which can generate the $TIME token.
These core NFTs can be acquired through the following methods:
1. Purchasing on the Open Loot Marketplace.
2. Obtaining them as rare random drops within the game, such as defeating enemies, completing quests, or successfully finishing dungeons.
3. Unlocking functional NFT blind boxes.
The Game Economy Mechanism of BigTime
The BIGTIME token has a total supply of 5,000,000,000 tokens and is intended to be generated entirely within the game through in-game actions, without any token sales directed at investors.
The BIGTIME token serves several key purposes:
1. It is used for refining or crafting and upgrading skin fragments and NFTs within the foundry and armory.
2. It is utilized to pay the entrance fee for the Honor Gate.
There are three primary methods for acquiring BIGTIME tokens:
1. Through random drops of Cracked Hourglasses in the personal space of the metaverse SPACE. These Cracked Hourglasses are one-time use items that, when equipped, produce BIGTIME tokens. They are non-chain assets, tied to the player's account, and non-transferable.
2. By using time crystals to craft Hourglasses in the functional NFT Time Warder and then equipping them. Subsequently, you can continue to use time crystals to charge Hourglasses and generate BIGTIME tokens.
3. By purchasing already-produced BIGTIME tokens on the market or receiving them through team airdrops.
The production mechanism of BIGTIME ensures that, for the most part, its supply is related to the allocation of in-game resources, thus ensuring stability and flexibility in the overall game economy. As producers of BIGTIME within the game, the primary resources required are Hourglasses and time crystals. The price of time crystals is denominated in US dollars and remains fixed, while the price of Hourglasses fluctuates with market supply and demand. The former ensures that if the cost of producing BIGTIME falls below the cost, the producers will reduce token supply, stabilizing the game economy. The latter guarantees that the production of BIGTIME is related to market activity and the actual player demand, increasing the flexibility of the game economy.
In addition to the BIGTIME token, assets tradable on Open Loot also include skin fragments, SPACE NFTs, decorative NFTs, and functional NFTs. Therefore, in Big Time, there are two paths to engage in the full economic cycle of the game:
1. Defeat monsters, clear dungeons, and trade obtained skin fragments on the market.
2. Defeat monsters, clear dungeons, and trade non-craftable skin NFTs on the market.
These are the two paths for free-to-play players to engage in the game's economic cycle. Since the drop rates of NFTs and rare resources in regular dungeons are low, free-to-play players need to invest a significant amount of time and effort, and trading skin fragments is an activity that only a few free-to-play players can actively participate in within the full game economic cycle. However, as on-chain assets have minimal impact on the in-game balance, free-to-play players can still experience most of the game's fun without involving on-chain assets.
For paying players, the strategy for participating in the game's economic cycle becomes more strategic. Determining the right balance of investment in time crystals, BIGTIME tokens, and skin fragments, leveraging SPACE and functional NFTs to produce more skin NFTs and BIGTIME tokens for trading, becomes a mandatory lesson for each paying player. Additionally, the existence of mechanisms like the Honor Gate further enriches the gaming experience for paying players, increasing their engagement within the game.
In Summary
From the GameFi perspective, despite a decline in the number of players and trading volume in the chain gaming sector since the onset of the bear market, the core player base of chain gaming has maintained its high retention rates and has not significantly hindered the sector's overall development progress. Moreover, numerous new games continue to be developed and operated. Once the overall macroeconomic environment rebounds, the chain gaming sector still holds substantial growth potential. Additionally, depending on the type and development stage of the chain gaming sector, projects like Big Time, with some core assets on blockchain and rooted in Web2 gaming, have strong development potential due to their robust development capabilities and operational experience.
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