NFT gaming has exploded in popularity in recent times, despite the sector still being in its infancy. The market opens up a new frontier where crypto enthusiasts can enjoy an exciting gaming ecosystem while receiving rewards simply for participating in the metaverse.
NFT-based games that integrate play-to-earn elements are among the fastest-growing sectors in the developing crypto space. They promise to overhaul the existing pay-to-play structures implemented by traditional incumbents like Nintendo, Atari, Microsoft and many more.
These old-fashioned businesses rely on in-game purchases to generate revenues and grow their platforms while offering players little to no return.
Unlike these traditional gaming models, the crypto gaming industry offers users financial incentives through gameplay. This approach has enabled the burgeoning sub-sector to become a sensation in the crypto and blockchain industry.
Participants can mint and trade rare in-game tokens (NFTs) that they can leverage to earn crypto-assets and fiat currencies on exchanges outside the metaverse.
NFT gamers worldwide can earn rare, immutable tokens with tremendous upside potential that they can trade in decentralized marketplaces for in-game perks such as avatars and accessories. Participants also play a significant role in shaping the architecture of the metaverse while receiving a share of the game’s revenue.
The Evolution of NFT Gaming
The NFT gaming movement has taken flight in recent months with its promise of empowering users to earn as they play. Over the past 12 months, multiple GameFi platforms have emerged, seeking to cash in on the hype.
Ethereum-based NFT game Axie Infinity has so far been the best performing play-to-earn game, attracting millions of new users while witnessing unprecedented growth in daily volumes.
Unfortunately, most NFT collectible games in the market lack innovation, possibly due to rushed development from industry participants looking to earn a quick buck. Consequently, many of these projects lack innovative features, immersive gameplay and an enhanced user experience.
SimBiotes has stepped into the scene with a revolutionary gamified ecosystem that is ushering in the next evolution of NFT collecting. The project introduces an innovative play-to-earn model where users can interact with evolving NFTs. Users can also enhance gameplay with their own collectibles and stake NFTs to earn lucrative yields.
Evolving and Third-Party Mutated NFTs
SimBiotes is a one-of-a-kind gaming metaverse with brand new NFT mechanics based on the concept of evolutionary science. Collectors, also known as ‘Scientists’, can interact with living NFTs and stimulate mutations to increase the rarity and value of their digital artwork.
NFTs in the gaming ecosystem will evolve from 2D collectibles to living, breathing 3D organisms, allowing players to enjoy their digital collectibles in a whole new way.
Moreover, the SimBiotes in-game environment will evolve over time, creating an expanding and engaging virtual world. The new game lets crypto enthusiasts give new life to their static NFTs outside their wallets and allows them to acquire new collectibles featuring unexpected attributes that increase their overall value.
The project’s team has partnered with top gaming developers and leading NFT creators to shape the evolution of the brand new metaverse.
The entire ecosystem will spawn from Embryonic Simbiotes, which are provably rare collectibles on the Ethereum blockchain that evolve and adopt new traits with each passing generation (a generation being every 100 blocks).
Scientists can fuel the evolution of their Embryonic Simbiotes by synthesizing new mutations in ‘The Lab’, SimBiotes initial main activity hub and in-game dashboard. These living NFTs evolve into new NFT strains dubbed ‘Simbiotes’ and then eventually into species. Simbiotes hatch eggs, which can then result in the spawning of secondary digital organisms called Cells.
Furthermore, players can experiment with their ever-evolving organisms to create a new breed of NFTs via Simbiotic Evolution in a special chamber called the ‘Petri Dish’. By allowing Simbiotes to interact with other digital collectibles such as CryptoPunks, Scientists can spawn mutated NFTs that they can trade to earn crypto and other in-game assets.
Transmuted third-party collectibles can also be integrated back into the Petri Dish to increase the chance of Egg-spawning for further rewards including tokens and Cells. The new game will issue 10,000 unique Simbiotes to early-bird investors during the upcoming Simbiotes Drop in late November.
How New Players can Earn on SimBiotes
Crypto investors who miss out on the Simbiotes Drop can join the action and advance in the game. The pioneering evolution-based biodigital metaverse offers a ladder into the game, allowing non-Simbiote holding players to participate and earn rewards in the metaverse.
Newcomers can also interact with living NFTs and leverage their digital artwork to generate new and unique art pieces while enjoying play-to-earn avenues within the gamified environment.
Players looking to join the game after the initial NFT sale can purchase Simbiotes from the game’s marketplace. These enigmatic laboratory creations offer powerful utility in the gaming ecosystem.
Non-Simbiote holding users can curate a collection of Cells and deploy them in rewarding battles dubbed ‘Cell Trials’. The project is working on new gaming mechanics that will facilitate Cells with a set of offensive and defensive traits to battle to earn biodigital energy.
Players who emerge triumphant from these contests can use their power-ups to enhance their in-game assets’ rarity, abilities, and longevity. Biodigital energy can also be sold in ‘The Field’ (the in-game marketplace) or be used by scientists to speed up Simbiote evolution.
Users can also leverage their existing digital art to mint new NFTs with unique characteristics in the metaverse. They can then sell their newly-mutated collectibles to players in the gaming platform and collectors on OpeaSea, a leading NFTs marketplace.
Join the Game-Changing SimBiotes Ecosystem
SimBiotes introduces a radical approach that empowers collectors worldwide to interact with and earn from unique, living digital collectibles on the blockchain.
The platform’s play-to-earn elements allow crypto fans to release their collection of static NFTs to evolve and fetch value in a decentralized marketplace (of course while keeping the original).
Investors in the upcoming Simbiotes Drop sale can experiment on their Embryonic Simbiotes and mint new NFTs with the potential to mutate and earn value in a collaborative, exploratory gaming metaverse.
As the SimBiotes community grows, players will have lucrative opportunities to generate new and valuable mutations from their digital collectibles. They also stand to win airdropped biodigital NFTs from top digital art creators in the cryptocurrency industry.
Argentine Crypto Exchange Lemon Sheds Roughly 100 Jobs, Citing Challenging Industry Conditions
Lemon had planned to deploy almost the entire amount on its expansion in Brazil. Given the current context, its move into the South American country will be “more strategic and niche,” Cavazzoli said. The exchange put plans to expand into Chile, Colombia, Ecuador, Peru and Uruguay by the end of 2022 on the back burner.
It’s time for crypto fans to stop supporting cults of personality
Many of the centralized cryptocurrency platforms that collapsed this year had something in common: a young, outspoken and cocky leader. Each gained outsized influence not by virtue of outsized intellect or talent but because of their piles of money and large Twitter followings. And each time, misplaced trust in their abilities resulted in disastrous consequences.
If crypto wants to avoid similar catastrophes in the future, it’s time for us to rearrange our leadership priorities. We need to ditch the cults of personality.
The theater of crypto on Twitter
Before FTX collapsed, founder Sam Bankman-Fried (SBF) had garnered a reputation as one of the loudest voices in the industry. He was active in the political world and frequently commented on what was happening in Web3.
But perhaps most notable was his active involvement in a myriad of Twitter feuds and spectacles. SBF first stepped into the spotlight as the successor of SushiSwap after Chef Nomi abruptly abandoned the project — a drama that played out almost entirely on Twitter’s public stage. His ensuing Twitter antics, combined with the image of unstoppable success that FTX was broadcasting far and wide, gained him more than a million followers.
But even as SBF’s influence grew, it seemed he just couldn’t resist shitposting, regularly engaging with other Twitter users who threw stones.
Indeed, SBF’s penchant for Twitter drama played an important role in exposing FTX’s insolvency. It was his recent spat with CZ that ultimately led to the run on FTX’s deposits. His attention-grabbing antics carried on through the current ordeal, culminating in a bizarre series of cryptic tweets.
The loudest voices in the room
While SBF is the latest example of an industry figure whose highly public Twitter presence led to a highly public downfall, he certainly isn’t the first. Do Kwon and Su Zu, who were both at the center of monumental collapses earlier this year, were also notorious trolls. Do Kwon infamously sent an arrogant series of tweets just before Terra’s downfall, while Su Zhu’s infamously elusive comments during the 2021 bull run didn’t age well, either.
At our company offsite this week with all the drama happening. Debating who is the bigger villain in crypto:
a) Do Kwon – $58b loss from UST & LUNA
b) SBF – $10b missing deposits in FTX
c) Su Zhu – $3.5b loss from borrowers
d) Alex Mashinsky – $2.8b missing deposits in Celsius
— Bobby Ong (@bobbyong) November 10, 2022
But, the leaders of failed platforms aren’t the only ones guilty of social media braggadocio. Binance’s CZ, after all, was just as guilty as SBF of engaging in their public Twitter feud earlier this month. Digital Currency Group’s Barry Silbert, who has been at the center of alarm related to the FTX fallout, has also garnered a reputation as a shitposter.
There are many, many more tweeters who have used online spectacle and trolling as a means of controlling the industry conversation. Think Ben Armstrong (aka “Bitboy”) and Jim Cramer, to name just a couple more. There’s a small army of them. And, even though many are purged in each bear market, their successors are increasingly turning into powerhouses too vocal and influential to ignore in the space.
Jim Cramer said that he sold all of his crypto.
Then he blamed @APompliano for “putting him in” BlockFi.
So he… lied?
Now he’s on a crusade to blame anyone he can find for his own bad decisions, even “digital finance people,” which is literally a made up term. https://t.co/NTojFohvFQ
— The Wolf Of All Streets (@scottmelker) November 18, 2022
We need to end the cults of personality
So what’s the solution? How can we better identify this personality type and use this recognition to avoid future pain?
Instead of focusing on building cults of personality, the crypto community needs to focus on platforms and leaders building products that use web3 primitives to solve problems in a manner that’s orders of magnitude better than anything we’ve experienced before. The crypto community needs to stop listening to the loudest voices in the room and start listening to the wiser, more experienced ones — even if they are sometimes quieter. And by the same token, we need builders with experience in creating real value for users to speak up more.
Ultimately, the answer lies with us and with the people that we, as an industry, choose to lionize. We need to learn how to identify and support builders building transparent, secure, high-quality applications and decentralized applications — regardless of how many followers they have.
Corey Wilton is the co-founder and CEO of Mirai Labs, the international gaming studio behind Pegaxy. A renowned speaker and play-to-earn thought leader, he began his first company within crypto in 2018, a customer support service designed to assist cryptocurrency companies with their customer service.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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