MINE WARZ Tokenomics: Towards Sustainable GAME-FI
Introduction
Greetings, MINE WARZ community,
Blockchain and gaming have come together to give birth to the GAME-FI model, which is transforming the gaming industry like never before. In this emerging market, sustainability and scalability of value are critical factors. To address these challenges, MINE WARZ developed a unique tokenomics model and announced it at the end of September, 2023.
MZ Tokens and Gold: The Core of the Ecosystem
MZT Basic Structure:
MZ Tokens (MZT) have been designed to stimulate economic activity within MINE WARZ. Total MZT supply is set to 1 billion tokens and MZT can be converted to Gold, the game’s in-game currency. The conversion rate between MZT and Gold is fixed at a 1:n ratio to reflect the unit value of the in-game currency while also connecting Gold with MZ tokens in the external market. This arrangement organically links MINE WARZ’s ecosystem with its external economy.
MZ Token Uses:
MZ Tokens have a number of purposes, including the purchase and acquisition of Mining Rights, items, and staking benefits. These functionalities provide MZ Tokens an important role beyond a mere store of value and actively encourage in-game activities. The value and demand for MZ Tokens will rise as the game’s economy becomes more robust.
Gold Uses:
Gold is used across a number of in-game activities, including transaction fees and accessing additional game content. Gold spent on fees are deducted when availing various services within the game, facilitating a range of actions and interactions in-game.
Elastic Inflation: Sustainable Value Creation
Inflation Risks:
Many Game-fi projects often face significant setbacks due to inflation. If users can easily acquire assets within the game, the value of the corresponding tokens can quickly depreciate. Inflation is also a common problem in traditional Web2 games.
Elastic Inflation:
MINE WARZ has introduced an elastic inflation model to proactively mitigate the risks of rapid inflation. As the number of users increases, the token supply is designed to either appropriately increase or decrease. This prevents the value of the token from fluctuating excessively and creates a sustainable economic environment.
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A Community-Centric and Not Investor-Centric Economy
Problems with the Investor-Centric Approach:
Many Web3 games operate with a focus on investors rather than the users who play the game. This prioritization of investor interest can pose a risk to a game’s ecosystem. Sudden sell offs of in-game currencies at volumes greater than necessary to maintain ecosystem stability carry the risk of destabilizing the game’s ecosystem.
A Community-Centric Solution:
MINE WARZ’s tokenomics is centered around its community and players. Only 2% of the entire token supply is planned for sale. Our philosophy is that the players and community are the primary drivers of value for the game. We believe this approach enables sustainable growth.
The Community-Centric Approach:
- Transparent Disclosure of Economic Information
- Token Utility Enhancement through Community Participation
- Various Community Events and Reward Systems
Increasing Accessibility and Lowering Barriers: Spreading the Fun of Gaming to More People
Eliminating Economic Barriers:
MINE WARZ’s tokenomics are designed to minimize economic inequality among users by allowing them to enjoy the game without even owning Mining Rights. The game provides various opportunities to ‘earn’ within the game.
Mass Expansion:
The game can be easily downloaded and played on mobile devices and does not require NFTs or the installation of blockchain wallets to sign up or play the game. This design makes it easily accessible even to those unfamiliar with blockchain and Web3 Gaming.
Conclusion: The Possibility and Future of Web3 Gaming
Game-fi projects offer many innovations for the gaming industry, but at the same time, face various challenges concerning inflation and mass adoption. MINE WARZ aims to address these new challenges and opportunities by introducing elastic inflation controls, community-centric tokenomics, and an accessible gaming economy.
We are committed to opening a sustainable and scalable future for Game-fi, and are excited to take the first step by publicly unveiling our tokenomics model.
Thank you,
The MINE WARZ Team
