Gensokishi Metaverse (MV) is a next-gen blockchain-powered 3D metaverse that is making waves in the market. The immersive digital landscape enables the user to create and secure returns through gameplay. Notably, the Gensokishi Metaverse is one of the first titles to successfully support NFTs, Play-to-Earn (P2E), and free gameplay seamlessly.
Elemental Knights – Gensokishi Metaverse
The first thing to know about the Gensokishi Metaverse is that it’s based on the award-winning Nintendo Switch/PS4 game Elemental Knights. The title had over 8 million downloads globally and was crowned the “Game of the Year” in 2012. This latest version seeks to build on this popularity and give back to the community by leveraging new technologies such as blockchain assets.
What Problems Does Gensokishi Metaverse Attempt to Fix?
There were many reasons why the developers behind the Gensokishi Metaverse decided to integrate blockchain assets into the title. For one, blockchain networks provide the perfect infrastructure for P2E games. These systems provide full transparency with gamers being able to verify the scarcity and other key aspects of NFTs directly.
This structure helped the game build a self-sustaining economy that empowers gamers to profit. The network combines cryptocurrencies, custom-made characters, and much more. Users can create, sell, and distribute digital assets to further their quests and winnings.
Benefits of Gensokishi Metaverse
There are a lot of benefits that the new GameFi version of Elemental Knights brings to the market. For one, it provides users with a free-to-play option to get started. You can secure some returns and create custom NFTs to begin your journey without requiring any funding upfront. This approach helps to drive adoption and lowers startup costs for everyone.
The global nature of the Gensokishi Metaverse enables users to communicate and play with others from around the planet. The game was designed to cultivate international creativity through incentivized gameplay. In this manner, the developers envision Elemental Knights once again becoming a core gaming title.
How Does Gensokishi Metaverse Work?
Gensokishi Metaverse users can create 3d environments without the vast digital landscape. They can complete quests and secure land rights as well. Like many other metaverses, digital land rights hold real-world value. There is already some metaverse with land rights worth millions. The Gensokishi Metaverse seeks to leverage this strategy to provide more ROI opportunities to the market.
The Gensokishi Metaverse combines both NFT accessories and metaverse land rights uniquely. The system enables users to traverse the metaverse in search of quests and earning opportunities. These adventures yield returns in the form of valuable NFTs. Some NFTs represent weapons, special equipment, clothing, and much more.
Polygon
Wisely, the developer launched the Gensokishi Metaverse on Polygon. Polygon is an L2 scaling solution for Ethereum. It features full ERC compatibility with much lower fees and faster transaction times. This approach has helped the title remain responsive, even as the network expands in both functionalities and userbase.
L2 scaling solutions have been gaining in popularity for many reasons. The Polygon network is one of the pioneers in this regard. The network has helped Ethereum developers get around the crushing fees that the network had before its V2 upgrade. Polygon is often much faster and cheaper than Ethereum in nearly all aspects. As such, it’s the perfect solution for a fast-paced international gaming atmosphere and economy.
Multi-Token Strategy
The Gensokishi Metaverse leverages multiple digital assets to create an immersive and entertaining gaming experience for users. The protocol leverages two ERC-compatible Polygon-based currencies. The tokens work together to provide users with a secure way to interact with the environment and outside exchanges.
Tokens – MV & ROND
The first token in use within the Gensokishi Metaverse is ‘MV’. This token serves multiple roles within the ecosystem. Users can secure discounted prices on in-game items when paying with MV. Additionally, it’s how users buy fashionable upgrades for their avatars. It’s also used as an entry pass to certain games and events within the metaverse. Lastly, you can stake MV to secure passive returns.
The second token used is called ‘ROND’. This token is used for the in-game economy. This versatile utility token is earned by selling NFTs you secured via your adventures. You can also gain ROND by battling creatures in the metaverse. Users may trade ROND for MV using the market.
Gensokishi Metaverse Governance
The MV token is staked to participate in the community governance options of the network. Once you stake MV, you gain voting rights on network-related issues such as upgrades or changes to the metaverse. The community governance voting system is weighted. As such, the more tokens you stake and the more say your vote holds.
History
The Gensokishi Metaverse has seen strong support since day one. The protocol raised eyebrows when it sold out its fundraising event in under 20-seconds. The event, which was hosted on TrustPad, received additional coverage as one of the first successful projects to launch using the multi-chain fundraising platform.
Since it entered the market, the Gensokishi Metaverse has pioneered the Japanese GameFi movement. The network already has +230k active members and continues to see growing participation. Today, the Gensokishi Metaverse is one of the prime examples of the merger of NFTs with 3D MMORPGs. As such, there are many people from both industries carefully tracking the progress of the game.
Bottom Line
The success of Gensokishi Metaverse (MV) is just another sign that GameFi protocols are taking over the market. These platforms combine top-notch gaming titles and familiar projects with blockchain assets to provide more opportunities to gamers. For the first time in gaming history, games are now getting in on the billions in profit these titles produce. Consequently, you can expect even more people to migrate to P2E titles like the Gensokishi Metaverse moving forward.
