Understanding MATE in one article: Vmates’ GameFi Token
This article comes fromVmates, Odaily translator | Moni
This article comes from
, Odaily translator | Moni
In December, it belongs to GameFi.
In the last month of 2021, there have been many fascinating projects in the GameFi field, such as Star Wars, UFO Gaming, etc. On the other hand, many new projects have also begun to catch up with old projects in the later stage. Here are a few examples:
1. As of December 14, the trading volume of DeFi Kingdom (DFK) has risen to the second place, second only to Axie Infinity, contributing US$280 million of the total lock-up volume of US$507 million.
2. On December 15, 2021, Legends of Mitra (LoM) successfully completed a private financing of US$1.45 million.
3. Many GameFi hackathons also try to use rich rewards to attract the smartest game developers in the blockchain industry.
4. According to data from CoinMarketCap, as of December 2021, the total value of digital assets locked on DeFi platforms has reached US$519.5 billion. At the same time, the transaction volume of the NFT industry has also risen sharply, with sales exceeding US$109.2 billion, exceeding US$1 billion in December 2021 alone.
All of this is enough to show that GameFi is booming at an alarming rate.
Among them, Vmates integrates the three major elements of DeFi, NFT and games. It not only allows players to earn tokens while playing games, but also helps players realize these assets through liquidity mining and income farming. As a digital pet community platform integrating collection, training, breeding, fighting, and social gameplay, Vmates aims to provide people with a brand-new lifestyle that organically integrates work and entertainment. Users can earn token rewards by mastering Vmates gameplay and contributing to the game world. In this article, we will focus on the Vmates token economic model and analyze the various uses of the Vmates token (MATE).
In fact, Vmates has made a long-term plan for the use of MATE tokens to help users get a better experience when hatching pets and exploring the Metaverse. In addition, MATE tokens can continue to meet the various needs of the Vmates project.
For MATE tokens, different proportions of distribution are provided according to different usage reasons:
● 25% ecosystem and game output: Tokens directly marked on the platform as required by the user, if the user obtains or uses MATE tokens on the website, these tokens will be occupied or added to the distribution range respectively .
● 12% marketing and construction: will be used to promote the marketing needs of Vmates as a development platform.
● 10% team share: will be rewarded by the team for helping to build the platform, this is part of the established token distribution schedule, however the Vmates team will not be able to access all of these tokens immediately, but will need to wait for a longer period of time to gradually unravel seal up.
● 8% Consulting: will be used to provide incentives for consultants and other experts who provide services, they can help the Vmates platform grow in business development and intelligence level.
● 5% Early Investors: A percentage of incentives will be distributed in order to support those who have supported the Vmates platform from the beginning, and those who have helped us start this journey.
In addition to this, 25% of the tokens will be locked in the reserve and used at a later date so that the tokens remain liquid on the platform.
The MATE token is constantly playing to its strengths to maintain the economic integrity of users and the platform, ensuring that everything works as intended. MATE tokens can keep the platform healthy and enable users to interact freely within the network, these features are extremely exciting.
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Uses of the MATE Token
1. Pets and equipment upgrades
As long as they enter the Vmates game, each player can get a virtual pet for free after registration. This free pet includes all game functions. It can be said that the threshold for players to enter the Vmates game is very low. However, players will need to upgrade "occasionally" to enhance their pet's capabilities so that the pet can win in battles with other players. There are currently two ways to increase the power of a pet.
First, pets upgrade themselves. Pets are upgraded after each battle, but in each "big upgrade", such as from green level to blue level, players must use MATE tokens to complete the update (evolution).
Second, pet equipment upgrades. If the pet has good equipment, it will become stronger when fighting. In terms of equipment, players can combine multiple materials into one piece of equipment, and the process of combining requires MATE tokens. In addition, players can also upgrade equipment after collecting enough upgrade materials. This process also requires MATE tokens.
2. Used to obtain additional goods in the supply center
Each Vmates pet has corresponding parameters, such as blood volume and physical strength, and equipment has durability. These values will decrease each time the pet battles. Players can give their pets time to relax to recover, or they can spend MATE tokens to obtain additional items in the supply center to provide pets with supplement "blood". These items will help restore your pet to a state that will get your pet back into combat as quickly as possible. In order to improve the durability of the equipment, players need to use MATE tokens to purchase materials at the same time.
It should be noted that there is a limit to the amount of MATE tokens that can be used to purchase additional items in the Supply Center each day. That is to say, players can spend MATE tokens to increase the number of pet battles to get more chances to win more tokens, but the number of battles is not unlimited.
In addition to this, Supply Center also offers fine and custom-made clothing. Players can spend MATE tokens to buy these clothes, which do not make pets more powerful, but only to satisfy players' needs for pets' beautiful appearance.
3. Support the mobility of the pet community platform
As a pet community platform, MATE also acts as a token for the Vmates platform. In the metaverse created by Vmates, all commodities can be purchased with MATE tokens, and all transactions also require the use of MATE tokens. Eventually, MATE tokens will become the "base currency" of the Vmates platform, and MATE tokens mainly serve the two main sub-base platforms on Vmates: Vmates Plaza and Vmates Market.
In Vmates Plaza, MATE tokens can be used for all social interactions between players, pets, and others on the network. Additionally, MATE tokens are also required for all support team battles and can only be earned by playing and winning social games. However, social games require a minimum amount of MATE tokens to participate, but if players wish, additional MATE tokens can be added as a reward pool to make the game more competitive. In fact, players can also earn MATE tokens by ranking well in pet shows, and platform users can choose ten pets per week based on their attractiveness and style. In Vmates Plaza, the most important and expensive thing is actually the building. The virtual land in the "Plaza" (Plaza) is not only available, but also can build various things on it. Players and their pets can build houses, commercial real estate, etc. , unused land can also be bought and sold through auctions, and everything built requires MATE tokens to complete.
In addition to Vmates Plaza, Vmates Market is another important part of the Vmates platform. Vmates Plaza allows players to interact with their pets on a social interaction level, while Vmates Market provides the platform with playable social economic features. Users can use MATE tokens to buy, sell, trade and otherwise exchange or create different Vmates pets so that they can better engage in various interactive activities in the Plaza later.
If we estimate the overall average rate of return from the difference between the average price of the NFT secondary market and the average price of the primary market, we can see that the average rate of return of Metaverse NFT this year has dropped from 772% to 224%, showing an overall downward trend ( However, there has been a rebound in the last three months). In addition, the overall return rate of game NFTs will also decline in 2021. You must know that the overall return rate of NFTs in games once exceeded 1100%, but it is currently only 144%. On the contrary, the overall rate of return of card-type NFTs showed an upward trend during the year. At the beginning of the year, the indicator data was only 72.77%, and now it has risen to 201%. At present, the turnover rate of Metaverse NFTs is the highest.
On the other hand, Metaverse NFT has more buyer addresses than seller addresses. So far this month, the ratio of buyer addresses to seller addresses in the Metaverse NFT market is about 1.25, the ratio of buyer addresses to seller addresses in the card NFT market is about 0.96, and the ratio of buyer addresses to seller addresses in the game NFT market The ratio is about 0.82. To a certain extent, these figures confirm the strong purchase demand of Metaverse NFT. In such a market, the bargaining advantage of Metaverse NFT sellers is more obvious. Therefore, the MATE token will be stronger in the future, and frankly, Vmates is not only a GameFi game, but also builds a metaverse.
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Advantages of MATE Token
The Vmates token MATE has many advantages.
Compared with traditional GameFi games, the metaverse built by Vmates is not just a game, players can make friends and share their secrets on the Vmates platform. In this case, the application scenarios of Vmates token MATE have also become more and richer. In addition, since Vmates has innovated on the GameFi game mode, it will be easier to attract more players and bring more benefits to MATE tokens, leading to a virtuous circle.
The problem with the traditional GameFi game model is that although the game generates reward tokens, the connection with its official tokens is not strong, and the official tokens lack sufficient application scenarios, and the entry threshold price is relatively high, so it is difficult to attract new player. Fewer players will lead to less liquidity, causing token value to shrink, creating a vicious cycle.
