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"The BigTime project in which Ari Meilich, former CEO of Decentraland, is involved has announced the start of the preseason, becoming the focus of the market. At the same time, it has been listed on multiple exchanges, resulting in significant price fluctuations in the short term. However, there are also controversial aspects, such as a substantial devaluation of in-game assets and the phenomenon of market makers speculating on the game token.
What is BigTime? Another Web2.5 game
BigTime, founded in April 2021, is a PC-based MMORPG game that combines fast-paced combat and NFT collection features. The gameplay can be compared to ""Diablo,"" and the game's hardware requirements are at least a GeForce GTX 1060 or above, indicating that the game's graphics are at least on par with mid to high-end action games.
BigTime attempts to address the limitations of previous blockchain games by adopting the ""on-chain assets, off-chain games"" model.
To address the gas fee issue, BigTime has introduced an official open market and utilizes the technical patent Vault to help simplify external wallet management for players. It also enables instant transaction settlement, making the process of purchasing NFT assets more straightforward, allowing people who have not used crypto wallets to become gamers. Currently, BigTime only supports USDC payments and plans to introduce ETH gradually in the future.
BigTime's team comes from well-known gaming companies such as Epic Games, Blizzard, EA, and Riot, with a total of 89 employees, including 38 core members.
BigTime Game Economy Model
1. Token Positioning:
BIGTIME is the core token of the BigTime game.
Players can earn this token by participating in game activities.
2. Token Start and Growth:
The initial issuance price was $0.01, and it has now risen to $0.24.
It is currently listed on multiple exchanges, including OKX, BingX, Pionex, Bitget, Coinbase, and Binance.
3. Token Distribution Strategy:
No pre-mining, ICO, distribution to investors, or team allocation was conducted.
Distribution is as follows:
- 60% for player rewards
- 20% for community promotion
- 20% for ecosystem and financial needs
4. NFTs in the Game:
Visual NFTs are used to enhance the game's visual effects and display player status.
They do not affect the game's core attributes.
Functional NFTs:
These are used as in-game items to produce other NFTs and BIGTIME.
They impact the game's economic cycle.
5. Through this approach, BigTime lowers the entry barrier, making it easy for free players to participate. Paying players also have incentives, and through this economic model, BIGTIME aims to create an encouraging and fair gaming environment while ensuring the stable growth of its token's value.
The Future Challenges and Prospects of the Game
BigTime's model opens up new possibilities for blockchain games, but its off-chain operation means that certain rules can be changed by the team at any time, which to some extent goes against the original intention of blockchain. Additionally, the sustainability of its economic model is still to be verified. However, by attracting talent from traditional game development in the MMORPG format, BigTime demonstrates significant potential in the gaming industry.
According to DappRadar statistics, the blockchain gaming market in 2023 is stable, but compared to the overall blockchain market, it continues to perform relatively well.
Furthermore, through the MMORPG format, where players engage in role-playing, social interaction, and in-game achievements, there is a greater opportunity to create value within the game and promote economic circulation. The market will ultimately determine the results of such endeavors.
Funding Information and On-Chain Activity
In May 2021, BigTime successfully completed two rounds of financing totaling $21 million, with one round led by FBG Capital, amounting to $10.3 million. During the previous bull market, some opinions suggested that FBG was known for short-term speculation, with many cases of rapid buy and sell tactics." |
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Post time 18-10-2023 10:05:53
