StarCrazy — NFT Play to Earn Game Built on IoTeX Blockchain
We’ve all been hearing about NFTs (Non-Fungible Tokens).
NFTs have been around for a while now and they are digital assets too, you can buy, sell, earn and mint them as we do for all our favourite crypto coins/tokens but the hype around NFTs lately has got so many crypto users asking questions about them. Questions like, “What are NFTs used for? How can I get them? Are they tradable? Do they have use cases like every token in the crypto space?”
The answers to these questions are very simple, all you need is to understand what NFTs are then explore more about them.
What are NFTs (Non-Fungible Tokens)?
Non-Fungible Tokens (NFTs) are unique cryptographic digital assets that exist on a blockchain with each of their codes, metadata, history of current and past owners differentiating them from each other.
They are not identical in nature like cryptocurrencies and cannot be used generally for commercial transactions or replicated unless for ones with more than 1 in circulation where more than 1 user can have the same kind of one particular NFT. For example, all Bitcoins look the same and the one you hold is not different from the one I hold, cryptocurrencies are fungible while these cryptographic assets NFTs are Non-Fungible.
NFTs can be traded like every piece of property but are usually virtual assets, NFTs have made it possible for artworks, pictures, paints to be tokenized, owners can create a digital certificate of ownership and sell out.
Lately, NFTs got so much attention because of the rise in Play-to-earn games. Play-to-earn games are in different kinds but all deal with playing, collecting and earning NFTs and crypto tokens. Users do not only earn NFTs and tokens for fun, all tokens and NFTs have a marketplace where they are traded.
All assets in play-to-earn games are stored on Blockchain which means they are fully secured and decentralized, no one can take what belongs to you or rip you off your assets.
Different Play-to-earn games have different playing styles, some deal with cards, pets and creatures but all have the same goals, you play to earn on the platform by doing what you’ve always loved to do(Playing Games).
Now Let’s talk about this unique Blockchain Gaming Play-2-Earn Platform built on IOTEX Blockchain.
StarCrazy is a play to earn NFT game built on IoTex Blockchain. NFTs on the platform are referred to as Starz and have over 1,500 active players with total earnings of $500,000 shared among players in 3 weeks of beta launching. On StarCrazy, Players can buy, sell, earn and trade NFTs. All trading happens on a free marketplace where sellers and buyers can auction and bid for Starz.
The greatest success for any play-2-earn gaming platform starts from what blockchain they are built on. Firstly, users find it difficult to interact with blockchain networks that require high gas fees or are too congested. Building on a blockchain that requires so much from players (Gas fee, Scalability) just to get started may be a barrier to entry for new players coming into the platform.
StarCrazy took a very big step from the beginning by building their NFT gaming platform on IOTEX Blockchain. I will tell you a little about the IOTEX network and why StarCrazy has made the best decision building on IoTeX.
IoTeX known as the Internet of things is a blockchain network with the mission to build a connected world for people to own their own data, devices and identity. They are unlocking the potential of smart devices, data and empowering a new generation of real-world Dapps and digital assets.
IoTeX is accommodating for any blockchain-based game, it is a lightning-fast, ultra-secure and highly scalable blockchain connecting on-chain decentralized apps with real-world data. IoTeX Mainnet has been fully operating without interruption since 2019 which makes it a reliable chain fully supporting GameFi and MachineFi bringing innovation and power of Blockchain to NFTs and Secured Devices.
The features of IoTeX makes it the best place for any blockchain-based game, transactions on IoTeX cost almost nothing in fees. StarCrazy has built on IoTeX to make sure players can easily interact with the game, maximize profits and the platform can grow exponentially.
Tokenomics is the combination of Token Economics. So I am taking us through the token economics of StarCrazy.
On StarCrazy, players do gameplay and interaction with Starz, GFT(Game fantasy Token) and GFS(Governance and Ownership token). Starz are the NFTs on the platform while GFT and GFS are the tokens, there is a total supply of 30 million GFS and GFT each and GFT is the ecosystem utility token used for auctioning, buying, and selling Starz and it can be staked to farm GFS, while GFS is the Governance token and 100% of it will be mined and owned by players of the game, will also be the only token for buying Planets.
Planets in StarCrazy will let players who own one do the following:
GFS can be earned by providing liquidity for IOTX-GFT pair on mimo or staking IOTX-GFT LP token in StarCrazy.
StarCrazy Token Deflation
StarCrazy plans to burn 20% of GFT proceeds to remove tokens in circulation, burning is good for any token as a deflationary mechanism to keep the token stable and valuable in the long run as more people earn. Tokens get more valuable when they are not many in circulation and demands get high.
Burned tokens are sent to a wallet without a private key making them inaccessible for anyone to sell. StarCrazy is doing this to be fair with players earning tokens and to fully reward players with 100% fair distribution.
As part of the IoTeX ecosystem, StarCrazy was part of the Ecosystem Airdrip by IoTeX to incentivize network growth. See how you can claim yours as a Player if eligible.
IoTeX Ecosystem Airdrip
IOTEX token holders stake IOTX to participate in governance to earn staking rewards, any token holder that stake more than 1000 IOTX in a single bucket for more than 30 days will be eligible for Airdrip.
IOTX stake gives non-transferable points that can be redeemed at any time. These points can be used to claim XRC20 tokens from active Airdrip pools, users can also save their points for future Airdrip pools. Points earned from Airdrip can be added as tokens to GFT/IOTX liquidity pool(LP) on MIMO to earn more rewards directly at StarCrazy.
This simply means the StarCrazy players that meet requirements are eligible for Airdrip and can get a share of XRC20 tokens but from Airdrip pool of $200,000 worth of GFT-IOTX tokens sponsored by StarCrazy.
The success of StarCrazy started right from the very beginning and the decision to build on IOTEX. StarCrazy is one of the easiest places to get started with Play2earn blockchain games. More updates coming up on StarCrazy in Q1 2022.
Stay tuned. See StarCrazy official websites and follow on all social media.
You can also Follow IOTEX on official social media handles for more projects built on IOTEX.
Thanks for Reading
I am Bee 🐝