AFFYN’S LONG TERM VIEW AND IMPORTANCE OF SUSTAINABILITY
Our aim from the start is to create a Play-to-Earn Metaverse that will be around for the long term. Affyn is building a lifestyle that is more than just a game, hence the importance of creating a sustainable economy in our metaverse.
During our last AMA in Nov 2021, many of you asked us about the importance of a sustainable economy in the Play-to-Earn category. This article will draw on the answers we had during the AMA and our whitepaper to give everyone a better idea of how we plan to stay sustainable.
Is a Sustainable Economy Vital?
The straightforward answer to that question is YES.
It is important to have a sustainable game economy, if not the whole thing will collapse. At Affyn, we are thinking long-term, we want our project to be around as long as we can so users can keep on enjoying the NEXUS world.
Most Play-to-Earn games have not given much thought about the long term aspect of Play-to-Earn games, and we are here to bring a solution.
We are creating a closed-loop system with our tokens (FYN), where there’s value in the virtual and the real world. We want our players to be able to play and earn in a sustainable manner for a long period of time.
Who’s Buying The Token?
If tokens can’t be used in the real world, what’s the point of keeping them and if everyone cashes out, who is buying all these tokens? When there is no buying, it’s a landslide to failure.
Some projects suggest that the company gives out more tokens, would that solve the issue? Unfortunately not.
It’s not sustainable to let the company keep producing tokens.
“For a company to keep producing tokens, It will be like a country that is printing more money and that’s never been proven to do well,” — Lucaz Lee, CEO, said during the AMA.
Plus, it will eventually reach a point where the value is low and rewards are minimal, resulting in the game losing its appeal. This is a cycle we want to break.
Our Solution To The Problem
- B2B Collaboration for NEXUS campaign events
One key aspect of NEXUS world is the geolocation feature which players will use for navigation within the game.
This creates an opportunity for Affyn to collaborate with companies that are interested in generating visitor traffic to their physical stores. For example, we can host an event at a particular mall to increase the foot traffic and the awareness of that place.
Affyn will be working with B2B companies for such advertising campaigns to generate cash revenue via a cost-per-visit model. A portion of the cash revenue will be used for FYN token buybacks from secondary markets to award players who participate in these campaigns.
This is one of the answers to the question of who’s buying the token.
2. Multi-faceted Token Utility
Affyn allows players to play and earn FYN tokens in multiple ways: augmented reality activities, NEXUS campaign events, user-created games and activities, referral, NFT sales, royalties, and transactions involving virtual land. The key component to support this Play-to-Earn concept is therefore to create a multi-faceted token utility for FYN tokens.
As we mentioned before, what’s the use of a token if it doesn’t have utility value. Hence, Affyn adopts a two-pronged approach toward token utility. In the NEXUS world, Affyn can obtain FYN tokens from both new and existing players through land sales, NFT sales, NFT royalties, item booster sales and transaction fees. Apart from NEXUS world, goods and services listed on the lifestyle platform are only accessible with FYN tokens. Users can utilise FYN tokens to purchase these goods and services, which increases the inflow of FYN tokens to Affyn.
For example, players in the NEXUS world can host their own events that fit their means. They’ll purchase FYN tokens from the secondary market and award players who participate in these events.
Thus, with Affyn’s ability to generate revenue from different channels to outpace players’ earnings, the “Play-to-Earn” concept will remain sustainable and viable for the long term.
3. Real World Utility
To encourage users to keep their coins, Affyn has created real-world utility for the FYN tokens. The loop is incomplete if users are unable to use what they earn from the virtual world in the real world.
In our push to make Play-to-Earn a reality, one of our biggest features will be the ability to spend FYN in real life, outside of the NEXUS world. Rather than having to cash out in-game items in order to spend them elsewhere, Affyn’s ecosystem allows users to earn in-game and spend in real life (eg. dining, leisure, travel, retail etc) to form a closed-loop economy.
Affyn will provide the necessary technology and e-commerce platform for merchants to list their products or services on our application where users are able to make purchases using FYN. Merchants that accept FYN will be incentivised to re-invest FYN into NEXUS world for marketing or other purposes (e.g. purchase of NEXUS land etc).
With a closed-loop economy, Affyn can attract both users and non-users of cryptocurrency and empower them with real-world applications to drive mainstream adoption.
Watch highlights from the AMA Session
Check out highlights from Affyn’s Ask-Me-Anything (AMA) session on YouTube here: https://youtube.com/playlist?list=PLNhSpMGLRUR0CMRxPJtxS7Lc_6qE3Zhn-