Tag: crypto

The Web3 Experience podcast – exploring the future of the internet

The internet has inarguably shaped our lives over the last couple decades. 

And now there’s this thing called “blockchain” that has promised to change the internet in even greater ways than most people can probably imagine today.

The Web3 Experience is here to bridge that gap.

Why we started the The Web3 Experience podcast

On the podcast, our goal is to explore topics at the forefront of crypto, NFTs, and blockchain.

we have conversations with the early settlers of the cryptocurrency space.

This includes people building products and experiences, to those running communities, to creators building beautiful artwork, and beyond.

On the other side of every PFP, there’s a human to engage with. Listen to our most recent episode below.

Jump in!

Listen Now: The Web3 Experience‘s most recent episode:

The podcast is available on Spotify, Apple, Stitcher, and wherever else you get your podcasts.

Bonus – Jump into The Web3 Experience “DEGEN MODE”

In addition to the conversational / interview style recorded podcasts, we also host a special LIVE show, featuring UNRECORDED, UNFILTERED, free-for-all, aka “Degen Mode” which happens every single week, on Mondays.

Jump in every Monday at 4pm PST / 7pm EST on Twitter Spaces – twitter.com/espressoinsight

How to Delegate $OP on Optimism Blockchain

The Optimism Layer 2 cryptocurrency ($OP token) carries voting power, helping the community make decisions within the ecosystem.

Key Takeaways:

  • Summary of $OP delegation
  • Why you should delegate
  • How to delegate $OP step by step
  • How to select your delegate
  • Changing delegates

What is OP delegation?

OP is a governance token, meaning each token carries a small amount of voting power for different things within the Optimism Network. 

Delegating your tokens assigns the voting power of those tokens to another individual that is specifically focused on reviewing proposals for the Optimism network.

This includes responding to comments and providing feedback, recommendations for improvement, and advice.

When you delegate your tokens – you are NOT giving them away or getting rid of them in any way.

They will remain in your wallet — you still own them and can transact, send, or sell them anytime you want.

What happens when I delegate $OP tokens?

When you delegate $OP, it means you are giving the voting power (not the financial value of your tokens) to a community member who has explicitly volunteered to play an active role in Optimism Network governance.

When you delegate your voting power, you retain 100% ownership of your tokens, and can use them however you want. 

You may change your delegate selection at any time.

Why should you delegate your $OP tokens?

Participating in governance – especially within a fast growing blockchain network like Optimism – is time consuming and costly.

Delegates spend their time and energy as volunteers, participating in this governance process for the benefit of the entire $OP ecosystem.

Being an active participant in governance is not an easy job, and you can see the careful thought that goes into proposal responses from active delegates within the OP governance forum.

How to delegate your $OP tokens (video walk-through)

Using the Optimism Network’s delegation website, any user that owns any amount of $OP tokens can choose to delegate them to someone to vote on their behalf.

The video below will walk you through the process to successfully delegate your $OP:

Who should I choose as my OP delegate?

It is in each OP token holder’s best interest to select a delegate who you feel will do a good job representing your OP voting power and doing so on your behalf.

Read and learn about some of the delegates, like Jrocki, on Optimism’s website.

The bottom line is this: you can choose to delegate to anyone you want.

However, it is advisable to choose someone who you believe will participate in Optimism governance and can represent what you want this ecosystem to become.

Can you change who your $OP tokens are delegated to?

YES – As an $OP holder, delegation is your decision. You can switch your delegation selection to anyone you want (even your own wallet address!), whenever you want, as often as you want.

Combining NFTs in the Metaverse: EIP-4883

This post will dig into EIP 4883, the ethereum improvement proposal for the .SVG NFT standard.

Why is EIP 4883 relevant?

EIP-4883 defines an NFT standard that enables items to be combined in unique ways.

This ability to combine various NFT items / objects is a small step forward for having an interoperable internet, a critical feature of the future of the web3-enabled internet.

fellowship of ethereum magicians EIP 4883 for SVG NFTs
ethereum-magicians.org

To understand what this means, let’s start with video games.

Think about some of the classic / favorite video games….

  • Halo
  • Super Mario 64
  • Super Smash Bros
  • Tony hawk 
  • Call of duty

As loved as all these characters are, why can’t all these characters play together in one game?

if video games were interoperable

Isn’t it unfortunate that these games are not able to be combined in some way where you could use a weapon from Super Smash Bros in Fortnite and vice versa?

Today’s video games were not built to be interoperable.

Fortnite, for example, is closed off to users without Epic Games accounts. 

Similarly, Nintendo games were not built to be played on Playstation or Xbox and vice-versa.

Also, IP rights need to be taken into account as not all games would want to participate in bridged gaming or open metaverse.

What would be possible if video games were interoperable?

Imagine a metaverse where all items in the game exist as unique NFTs, however, all of these items are modularized, where any given item can be combined with any other item.

Imagine playing a tony-hawk pro skater type game in the metaverse…

Imagine if you could bring Bowser from Super Mario 64 over to Tony Hawk’s pro skater game and ride around and do skate tricks as bowser.

Or, sell a skateboard from Tony Hawk as an NFT that can be used in any other game.

SVG-like items such as skateboards would allow users to play with specific NFTs of different characters.

So, I could move a skateboard NFT that I own over to a Mario game for example, and ride around on a tony hawk pro skater 4 skateboard inside super mario 64.

This would be so much fun, if only video games were interoperable.

Interoperability – Why is it important for the internet?

As we think about future of the internet, specifically the 3D version of the internet or the metaverse, making sure everything is interoperable will become more important.

Interoperability is extremely important for the internet, and valuable across a number of apps and use case. 

For example, imagine if EMAIL (electronic mail) was not interoperable, the way video games today are not.

This would mean that you couldn’t send an email from Outlook to someone with a @Gmail.com or @yahoo.com email address.

This would make electronic communication on the internet extremely inconvenient, and we wouldn’t easily be able to communicate with people from different organizations, or companies.

Fortunately, the internet mail standards such as SMTP or communication protocols like TCP/IP are open and cross-compatible with everything else.

EIP 4883 helps enable interoperability between NFTs

So, in the spirit of enabling interoperability, composability, compatibility in web3 and NFTs, which is central to the web3 Ethos, let’s dive into EIP 4883, for Scalable Vector Graphics NFTs.

EIP 4883 is for the composable SVG (file format) NFTs which will make any NFT asset able to be combined with others.

According to the description from the EIPs website, the goal of EIP-4883 is to allow you to:

“compose an SVG NFT by concatenating the SVG with the rendered SVG of another NFT.”

  • Concatenate means to link (things) together in a chain or series. For example:
    • combining one item or object with another.
    • adding / removing sunglasses from a profile pic NFT
  • What is SVG? → SVG stands for “scalable vector graphics”, referring to a .svg file.
    • the .svg file format is an XML-based vector image format for defining two-dimensional graphics, supporting interactivity and animation.
    • this enables resolution independent images and items.
    • Its important to note that at some point, it will be important that we will be able concatenate 3D file formats as well.
      • I could certainly see a future EIP for concatenating rendered .obj or .fbx files, which are supported by the Unity game engine for example.
future EIP proposal should include 3d images.
fileinfo.com

EIP 4883 seeks to apply the SVG file format to NFTs… allowing SVG NFTs to be rendered in the foreground or a background of an image or metaverse type experience as required. 

This NFT standard would mean all NFTs that use it are composable, so on-chain SVG NFTs can be combined with others.

The SVG NFT is able to be re-sized and scale to the right size as needed. e.g. adding glasses & hat NFTs to a profile pic NFT or a fish NFT to a fish tank NFT.

What does EIP-4883 enable NFT owners?

NFT owners of specific rare traits and accessories could then sell these types of accessories to NFT owners from other collections. 

optipunk items could be broken down into separate NFTs

What if I could split each accessory or attribute apart, and then list just the glasses or the hat while keeping my Punk? 

For example, an Optipunk’s glasses + hat could be split apart from the main NFT, and stored on-chain as associated but distinctly separate NFTs on their own.

These glasses and hat NFTs could then be sold or transferred to someone else, or another profile picture NFT, for example, to a Optichad. 

Essentially, then that other NFT PFP can wear the glasses and the hat:

items could be worn by any other profile pic NFT.

This would mean accessories within web3 could be composable / transferred to someone that owns any other type of NFT even outside the collection.

The SVG allows the item to be seamlessly re-sized in order to form-fit whatever type of character wants to wear it , or object that it needs to be combined with.

Extrapolating forward, it would be awesome if, for example, Fortnite skins that you own could be transferred to other games.

Optimism NFT project with transferrable items

One example of an NFT project that can help us think about the importance of transferability and interoperability is the Loogies, on the Optimism layer 2 network…

Optimistic Loogies or the Fancy Loogies on Quix, accessories can be added to your Loogie. Those accessories are essentially combinatorial, those are composable traits.

optimistic loogies NFT project.

It almost seems like this NFT project was built as a conceptual idea to illustrate the need for something like EIP – 4883. 

However, as of right now, you can’t leverage these assets in any other collection. Ideally we’d be able to trade these assets across any other given collection. 

EIP 4883 would enable you to combine these assets with other collections.

Listen to the podcast

If you want to learn more about crypto, NFTs, dapps, DAOs and more, please check out the latest episode of The Web3 Experience podcast:

Most Expensive POAPs Ever Sold

The Proof of Attendance Protocol (aka POAP) is a way to save digital mementos, allowing you to bookmark things you have done in life.

Pronounced poh-app (POAP), the protocol gives attendees a way to keep a record of their attendance for any type of experience – event, conference, meeting, membership – could be anything.

Project leads and hosts often create POAPs for official events that they host with their community. As you can see below, the early POAPs from well-known and respected initiatives tend to be more valuable, symbolizing a type of “OG” status for the early members.

Whether that’s a simple AMA session on Discord or Twitter Spaces, or if its a in-person meetup event – bringing the community together in these types of events can be huge for long term community building.

A POAP can also be a gift from an issuer to collectors, to celebrate a shared memory.

In most cases, mint price for a POAP is completely free – where the user is able to mint one simply by being in attendance at the event. Additionally, gas is normally free as well.

Do you want to create or mint POAPs? First, you need to setup a crypto wallet.

Highest POAP sales as of 2022 (so far)

Sale Price (Eth)POAP NFT
11XCOPY REKT
10XCOPY REKT
7.23XCOPY REKT
7SuperRare OG
7SuperRare OG
5.5Devcon 1
$11,118 USDCHappy 2nd Birthday /r/EthFinance
3YAM Heros
3Beacon Chain Genesis Depositor
2.9SuperRare OG
2.6XCOPY REKT
2.5Alchemix Legends
2Alchemix Legends
2Alchemix Legends
2XCOPY REKT
2XCOPY REKT
1.96XCOPY REKT
1.85XCOPY REKT
1.8XCOPY REKT
1.5Medalla Testnet Resuscitator
1.5Genesis CoinGecko Candy Collector v2
1.5I Played 4 YFI
1.5Fractional Early Adopter
1.025Genesis CoinGecko Candy Collector
1adidas Originals: our future started here
1adidas Originals: our future started here
1Fractional Early Adopter
1EthCC
1ETHParis
1Bankless Member – 2020
1Bankless Member – 2020
1Bankless Member – 2020
1Stoner Cats Moshpit 7.26.2021
1Alchemix Legends
1Inverse Finance Original DAO 409
1Bankless Member – 2020
1ETH2 Studymaster GENESIS
1adidas Originals: our future started here

Economics of Staking Ethereum

Ethereum will soon switch to Proof-Of-Stake. “The Merge” is a big development event where the Proof-Of-Work consensus algorithm will shift to a new model PoS, allowing people to stake their assets to earn rewards.

While recently listening to Hall Press’ episode on Bankless podcast, a few key insights were shared about staking Ethereum

If there is value to the asset outside of staking (spending the token, etc) then the staking rate will be lower.

This is true of Ethereum and Ether the asset.

Ethereum’s use cases make it in high demand

Because Ethereum is a useful asset in web3 ecosystem, there are many other demands for ether.

Think of all the use cases that Ethereum has – from NFTs to DeFi and more.

Many people need to use Ethereum to do these sorts of things, so not everyone will want to lock down their ETH and just stake it.

Because of this, demand for staking probably won’t ever be super high.

Lower rate of staking means higher returns for those that do stake

If demand for staking is low, then value to those that decide to stake is higher.

Stakers want the network stake rate to be as low as possible.

As of now, Ethereum only has around 10% of staking participation rate.

After The Merge, staking incentives will go up, and is likely to have higher income margins.

Only expenses in Ethereum are paying developers (what EF pays out in salary). The EF report showed that the expenses are quite low.

According to Hall Press on Bankless podcast, he thinks that paying stakers does not count as an expense because it is not leaving the system.

Bridging crypto between Layer 2 blockchains – not currently supported?

The Problem: Bridge protocols don’t enable users to bridge between Layer 2s

Crypto holders should be able to use their tokens whenever they want, across any set of blockchain networks.

Ethereum gets you security, but it is a very expensive layer. The benefit of Layer 2 networks is that they are more scalable – fees are lower in L2.

Unfortunately, users cannot move funds directly between Layer 2 networks.

Interoperability for tokens among different chains in web3 is a critical technical problem with crypto bridges today.

Bridging between Layer 2 networks is impossible

For example, users can’t go directly from from Optimism to Arbitrum, no matter what bridge they use.

In order to move tokens between these layer 2 networks, users are forced to take a multi-step process, bridging back to Layer 1 from Optimism before moving their funds to Arbitrum.

You can try it to see for yourself.

As shown below, after adding both Arbitrum Network AND Optimism Network to my wallet and going to the Arbitrum Bridge, its clear that the only connection possible is to go between Layer 1 and Layer 2.

arbitrum bridge only enables funds to go from L1 to L2
Aribitrum bridge only recognizes assets available on Layer 1, even though funds are in Optimism on the same connected wallet.

Layer 2 direct jumps don’t exist (yet).

Current Functionality: Bridging from Ethereum to Layer 2 is simple

Bridging from Ethereum Mainnet any one of the Layer 2’s is pretty simple and straightforward.

For example, a user’s first experience exploring the Optimism ecosystem (covered in this post) is pretty straightforward:

The Ethereum –> Optimism bridge allows for funds to be transferred quickly, letting the user get started with dapps like NFTs, DeFi, and more.

Similarly, bridging from Ethereum Mainnet to Arbitrum is pretty easy.

Users use a service like Chainlist to connect to any number of different Layer 2 blockchain networks directly, without manually typing in the network ID and other information.

How to use the Chainlist website, where you can connect to EVM powered Layer 2 networks.
Connect directly to EVM powered networks using Chainlist, without having to manually enter network details into your wallet

Optimism and Arbitrum are just two examples – Chainlist offers hundreds of connectable networks – an overwhelmingly large amount of software to explore.

Improving crypto bridges will reduce fees for users

The fact that a user can’t move funds between two different rollups without sending funds back to Ethereum Mainnet not only makes the user experience more cumbersome, but it means users pay higher fees.

The bridging process requires two additional transactions on Ethereum Mainnet, instead of a single transaction on Layer 2 between networks.

This multi-step process ultimately requires more gas.

At this point, the ability to move funds between layer 2 networks is an aspect of UX that is missing, and is a big gap in crypto.

The ideal UX features simply have not been built out yet.

Poor user experience is the nature of emerging technology

When you are exploring the frontier of emerging technology, some difficulty of use should be expected.

To put things into perspective, this lack of user functionality is part of what makes crypto most exciting.

If the UX was perfect and every blockchain app was easy to use, then crypto would already be mainstream.

When you are using emerging technology before other people, it is going to be clunky and difficult to use.

We are early; blockchain technology still has so much un-realized value. This is part of exploring and seeing tech trends before everyone else.

We Need to Enable Users to Migrate Between Layer 2 Blockchains

The good news, is that interoperability problem currently exists within similarly EVM compatible blockchains.

Because Layer 2 networks share protocols with Ethereum’s foundational Layer 1, the challenge should be solvable.

The Ethereum ecosystem, with the EVM protocol fundamentals, was made for this type of universal compatibility… shared components allowing protocols to integrate.

Axelar Network seeks to solve interoperability

We know its possible. Still, bridging between Layer 2’s is a feature that is not yet present in web3.

One network focused on this is the Axelar Network.

On the recent Zero Knowledge podcast episode, Sergey Gorbunov discussed how to make layer 2 protocols more interoperable.

Sergey shared information about how Axelar is focused on interoperability, making it easy for users to migrate between chains.

He mentioned that by building service layer protocols on top of the core networks, end to end flows between applications will be easy and seamless for users.

This will also enable bridging between Ethereum L2s so that users don’t have to go back to the main chain.

Sunflower Land Proposal: Allow Farm Switching

First, I love the game Sunflower Land.

In addition to being fun, the strategic aspect of the game makes players exercise their analytical brain muscles, and also helps those new to blockchain technology learn the fundamentals of crypto, NFTs, tokenomics, scarcity, and more.

I’m the one who wrote a blog post covering how the game developers are focusing on “people over profits”.

I speak for myself and almost the entire community when I say that we are on-board and in agreement with Sunflower Land’s mission to create an open-source decentralized game with anti-botting rules and no-multi accounting.

That being said, a few of the current rules should be improved.

The multi-accounting rule currently does not allow players to farm switch under any circumstances.

I believe that changing this rule will help preserve the intrinsic value and utility of the farms themselves, the official SL NFT tokens.

What is “Farm Switching” in Sunflower Land?

Farm switching is the process of a player switching from one farm to another, while only using one farm at a time.

In order to comply with the multi-accounting rule, when a user switches farms, they will have to cease all productive processes in the former farm.

According to the rules, players may only have 1 IN-USE farm at any time.

Let’s be clear: we are not talking about playing in more than 1 farm at a time. That is multi-accounting, which we can all agree is not good for the game.

However, at present, any type of farm switching, even while preserving only 1 IN-USE farm at a time, will be flagged as multi-accounting and will result in a ban.

Farm switching is not allowed today.

Based on the community’s interpretation of the rules during a few discussions in the Farmer’s Chat on 4/25/22, it seems there is consensus among the community that farm switching would be considered multi-accounting and break the rules.

sunflower land farm switching
source: SFL discord server, Farmers Chat

No one wants to break the rules.

What is a players “IN-USE” farm?

A player’s “IN-USE” farm is the SINGLE farm in which that player is making progress at any given point in time.

“Progressing” in a farm is defined as having crops planted waiting to be harvested, or ores or wood waiting to be ready.

For example, in the screenshot below, the farm is “Progressing” because it has a few minutes left on potatoes before they are ready to be harvested.

sunflower land in progress farm

Today, the rules allow players to purchase as many farms on secondary markets as they so choose – while it is completely within the rules to own other farms, once you purchase a farm, it is illegal to ever use that farm, given the current multi-accounting rules.

The game should be able to keep tabs on all players and ensure everyone only has no more than 1 IN-USE farm at a time, and that no player ever making progress in multiple farms simultaneously.

The goal of multi-accounting rules in the first place is to ensure that no subset of players are able to artificially accumulate and amass tons of resources and gain an unfair advantage over other players.

This ensures that the game remains fun for everyone and is not over-controlled by whales with large holdings.

Of course we agree with this.

However, we do believe users should be able to switch their IN-USE farm to another farm, as long as their account is not progressing in more than 1 farm at a time.

Why should Farm Switching be allowed and implemented?

Utility is so important in Play-to-Own games. We need a process enabling users to switch legally, as long as the player has no more than one IN-USE farm.

Presently, the only utility that a farm on secondary markets will have is for someone that has NEVER played sunflower land and NEVER minted a farm.

For anyone that has ever played the game, it is illegal to ever switch farms (its illegal to forever stop using original mint farm and use only that new farm).

If there is no switching process currently defined within the rulebook / docs, then how will farms purchased on secondary ever have utility?

All farms are not equal.

A farm that has all 22 squares unlocked and the goblins freed is going to be more productive than a brand new farm with less farmable land.

This farm is more desirable and would thus be more valuable on a secondary market, if a player decided to sell their farm.

The principles of play-to-own games would suggest that users should be able to buy, sell, and trade, and USE these different types of farms at their own will.

Example scenario: where Farm Switching makes sense

Let’s say I purchase a farm on secondary and then sell the original farm that I minted.

Now I only have 1 farm in my wallet (SL token)

However, if I start using this new farm, this is technically “multi-accounting” based on community consensus in the Discord.

Farms purchased on secondary are un-useable by current players. Because of this, those farms have 0 utility.

This is a problem if the Sunflower Land game seeks to create a real market and economy for NFTs and tokens in the SFL ecosystem.

Can Sunflower Land allow Farm Switching and still avoid multi-accounting?

Yes.

Players will only be able to use one farm at a time. (defined as an “IN-USE” farm, below).

Players will only legally allowed to make progress in 1 single IN USE farm at a time.

Players must finish all in-progress tasks and actions before switching to another farm.

Players SHOULD be allowed to Farm Switch as long as there are no in-progress processes in the current IN-USE farm.

Sunflower Land should encourage both in-game and out-of-game economies

Most of us were attracted to Play-to-Own because we want to find a game that is actually awesome and fun to play, where we also have autonomy and ownership over all of the in-game items that we acquire.

Sunflower Land team, as I’ve written about before, is doing a great job of this overall.

Perhaps a user starts playing the game, and after realizing how much they love the game, they are willing to purchase some items and stuff to make the game experience more fun for them.

However, a few statements made by the team were surprising, given the seemingly evangelistic vision to create a decentralized, open sourced, play-to-earn game.

According to the FAQ on the Sunflower Land Discord, buying farms and other resources on third party markets is discouraged.

sunflower land faq about secondary sales
via SFL discord

What’s the likely explanation for the Team making this statement?

Don’t forget, the game is still in Open Beta: the team is still testing the software and contracts. There are issues and bugs that need to be worked out.

Hopefully, once all the contracts and the game officially leaves beta and is 100% live, the game developers will encourage this economy to emerge from the Sunflower Land ecosystem.

When that happens, enabling farm switching as well a NFT trading on 3rd party platforms is crucial to ensure the the NFTs maintain their utility.

Encouraging 3rd party purchases and sales is the nature of play-to-own games.

Yes, the game is created to be focused on people over profits and is more than simply earning tokens. But the whole point of Play-to-Own is having the freedom and autonomy to trade in-game items.

It should be up to the user to buy or sell any in-game item on secondary.

If the game devs truly want to foster a free-market economy that the game strives to create, this is critical to implement.

When should Farm Switching processes be implemented?

The game should enable farm switching as well as encourage 3rd party sales / purchases after the Open Beta version of the game has been thoroughly tested and finalized.

As stated above, it is 100% understandable and OK for the development team to discourage the trading and 3rd party commerce while the game is in Open Beta version still.

The most important thing for the game at this point is making sure the contracts are safe, secure, and that

Farm switching should be allowed after the contracts are live and ready to go.

Players Learn About Crypto and NFTs in Sunflower Land Online Game

Sunflower Land gives players a Crash-Course in Crypto Education

If you are new to blockchain and crypto, try out Sunflower Land, a game that is an interactive, learn-by-doing educational blockchain course. 

By simply playing the game, you become familiar with blockchain technology in a fun and entertaining way.

Additionally, you’ll learn how to setup a self-custodial wallet, starting your journey into the world of crypto and NFTs.

If you don’t quite understand cryptocurrency or how it works, play this game to learn about how the blockchain can power new monetary / incentive systems in both gaming and real life.

Learn NFTs: Rarity, Scarcity, and Trading Beyond the Sunflower Land Ecosystem

Even if you’ve never purchased or owned an NFT before, Sunflower Land provides an easy way to learn the ropes and how to leverage NFTs – all of which have real in-game utility.

By playing the game, you gain experience with NFT minting, as well as the actual utility of NFTs, getting to use them to advance the game. 

goblin crown NFT fro Sunflower Land
Goblin Crown NFT, tradable on OpenSea

You own all your items. They’re NFTs!

Because the in-game assets are built on the ERC-20, ERC-721 and ERC-1155 protocol models, all of the items are compatible with the most popular web3 platforms in use today such as Opensea, Uniswap, Quickswap, or even Rarible.

Every single item in the game is an NFT. 

All items in the game are owned by you, the player.

When you craft a tool or mine an ore like gold, you can sell and trade these NFTs on secondary markets like OpenSea and others. 

Of course, you’ll need to learn a few things before trading and exchanging NFTs in web3. We highly recommend reviewing this guide to crypto wallets before getting started.

Because all items are tradeable outside of the game, the value of everything in the game will be determined by the market.

Learn how free-market economics affect the price and value of Sunflower Land NFTs

There are factors both within and outside of Sunflower Land affecting the price and value of tokens and NFTs.

These economic factors create markets based on rarity, scarcity, and in-game utility, which makes some items more valuable than others. 

As described in the Sunflower Land documentation, “if the price of Gold sharply increases, a natural side effect is that NFTs that require Gold also increase on Open Sea.” [1] 

Sunflower Land Players Learn Cryptocurrency Tokenomics, via native $SFL token

Once you play and figure out the tokenomics of Sunflower Land, the knowledge you gain is applicable to the rest of the crypto industry. 

Playing the game and earning $SFL token by planting and harvest crops helps provide macro context for how crypto works. 

“if the price of Gold sharply increases, a natural side effect is that NFTs that require Gold also increase on Open Sea.”

In the game, you burn tokens in order to purchase items, which lowers the $SFL token circulating supply, making the token more scarce over time.

According to the docs, “While the total supply increases and the rewards lessen, the amount of circulating supply also decreases as SFL is burnt.” [1]

Many cryptocurrency assets follow similar models to this. ETH, for example, is burned via transaction fees in the proof-of-stake model (post-merge). 

Likewise, the token contracts of $SFL also implement a “halvening” model, which bitcoin famously leverages as well. After a certain number of …

SFL supply
$SFL token supply the first day the game was released.

Learn Principles of Economics in Sunflower Land

For someone who procrastinates, playing sunflower farmers gives you an excuse to take a break from work and check your farm.

Sunflower Land teaches you basic principles of economics. revenue minus expenses gives you profit, which stays in the bank (or in the case of web3, your crypto wallet). 

The game also teaches you about productivity, because some crops are financially more productive than others.

As far as financial productivity of crops goes, sunflowers are the most productive. However, Sunflowers also require the most work.

They could be the most fun, however, because they are more active and you get to plant and harvest more frequently, every minute.

Players learn about resource conservation. 

There are only a certain number of seeds to buy in stock. After they run out, you must sync your farm on the blockchain the re-up the resources.

It costs 0.1 Polygon to do so, which effectively sets the lower limit floor of the goods somewhere around that price.

Games are a great way to learn things.

Gamification can create a fun and engaging way to learn just about anything.

The creators of the Sunflower Land did not set out to create a gamified blockchain educational course. 

Still, in the creation of a truly decentralized and open-source crypto game, Sunflower Land has become an excellent place for newbies to experiment and learn the fundamentals of blockchain – from NFTs to crypto, wallets and more in an interactive, hands-on way.

SOURCES

  1. https://docs.sunflower-land.com/fundamentals/tokenomics
  2. Play to Own: https://philipla.substack.com/p/blockchain-games-play-to-earn-play-and-own?s=r 
  3. Axie World https://www.axieworld.com/en 
  4. Utility for Rare collectible items in the game: https://opensea.io/collection/sunflower-land-collectibles 

Play-to-Own Crypto Game Sunflower Land is more than just Earning Tokens

Yes, you can earn Crypto and NFTs by playing games in web3.

With crypto games like Axie Infinity generating multiple millions of dollars in revenue per month, it is difficult to ignore the numbers.

Whether or not you want to play games simply for fun or to earn money, wouldn’t it be great if games could optimizes for both?

Whereas Axie Infinity is considered a “Play to Earn” game, an innovative team from Australia has come up with a better model – Play to Own

Play to Own games bring a new framework to crypto and NFT gaming in which playability is taken into account before the money making aspects.

The Play to Own model seeks to establish a fun and engaging environment for players first and foremost. Without this aspect, NFT based crypto games are not sustainable.

What is Play-To-Own Gaming?

Play-to-Own games are attractive to players because it is possible to earn financial rewards within the game, as well as freely trade items and tokens outside of the game. 

These unique features are enabled by blockchain technology. 

Play-to-Own is different from the popular “Play-to-Earn” gaming model. 

Play-to-Earn is actually an unsustainable game model because people will use the game solely to extract money.

This is bad for the game because no value is organically flowing back into the game.

Play-to-Own games are a better model because they place the in-game experience ahead of financial incentives. People before profits.

Play to own is not about making money. It’s about making memories. Steve Woody

The difference with Play-to-Own is that the game creates a place where people go just because they enjoy playing. 

The ability for players to own and trade tokens and items is simply a means to enhance the game, enabling people to continue playing the game for fun. [2] 

Of course, users can decide to cash out and sell their tokens and items if they decide to quit playing. 

When players have this enhanced level of freedom to leave with their rewards at any time, game developers are incentivized to develop a truly great game where people want to stick around and interact with each other.

When the primary focus is making the game / product great, the downstream impact is a fun game with great financial incentives as well.

For a blockchain game to succeed with crypto and NFT economics, there must be a balance of players who play for the sake of enjoyment with those who play solely to earn money and convert the token into fiat.

For a play-to-own game to work, there must be an active cohort of players consistently being a part of the game and helping to build a bit of “community”.

Sunflower Land is an example of a Play-to-Own game that does a good job of this.

Sunflower Land Community:

As developers seek to maximize fun and enjoyment for gamers, communities form. 

As with almost all web3 projects, value follows community, and community follows utility. 

If the game is fun and engaging, a community could naturally form around the game itself.

The larger the community, the larger the network effects and thus the more valuable the entire ecosystem becomes.

Sunflower Land has a strong community where people from around the world come together to discuss the game.

  1. GitHub: Sunflower Land has an active developer ecosystem and is thus still being developed and improved. The roadmap has quite a few exciting features on the horizon.
  2. Discord: the Sunflower Land Discord group is extremely active and with FAQ’s describing common fixes as well as a support ticketing system for technical issues.

The bull case for Sunflower Land: Community Oriented Developers and Founders

Sunflower Land is unlike other crypto games because there was no pre-sale/pre-mine of the SFL token. 

Additionally, the game is completely open source, and community run at its core. 

As described by the documentation under “Tokenomics”, the team of developers have a commitment to ensuring this aspect of the game remains true:

“We are paid directly with the fees generated by the player driven economy. We succeed when people play and our goal is to design tokenomics that engage users for the long term.” [1]

Before you can play Sunflower Land – or any crypto game – you need a crypto wallet.

SOURCES

  1. https://docs.sunflower-land.com/fundamentals/tokenomics
  2. Play to Own: https://philipla.substack.com/p/blockchain-games-play-to-earn-play-and-own?s=r 
  3. Axie World https://www.axieworld.com/en 
  4. Utility for Rare collectible items in the game: https://opensea.io/collection/sunflower-land-collectibles