Sugarverse, the play-to-earn gaming project that builds the Sweetest Metaverse of Them All (token symbol: $CNDY), entered into a joint venture with XS Software.
XS Software is a European mobile game developer and publisher who was among the pioneers of browser-based gaming, to rebuild the faulty Play-to-Earn economy that cracked the foundation of major blockchain games and bring sustainability.
The Sugarverse’s co-founders Nikolay Mitev (CEO) and Philip Balkanski (COO) have invested in many metaverse projects. Diving into projects, they saw the repeated economic sustainability issues.
Even the industry’s top projects have them. For instance, the Play-to-Earn Axie Infinity and Move-to-Earn STEPN cannot justify to their players the need to buy more NFTs to let the old players cash out.
In its white paper, Axie Infinity straight out tells its economy is not sustainable in the long term. During their life cycle, the projects with faulty economies all come through the same stages. First, they market aggressively and attract a lot of new players.
As long as the attention to them sustains, the token price rises as more new players FOMO in. As long as the number of players who want an out is lower than the number of new players, the projects continue to rise and all looks good.
However, as the player inflow slows down and an increasing number of old players who accumulated massive rewards want to cash out, it all starts to fall apart.
Speaking of Axie Infinity, even over 2 million daily active users at the peak were unable to sustain the cashing out by old players.
Because sustainability was not considered well enough during the game design, now new players are responsible for satisfying the needs of the old players.
The Sugarverse team decided to fix the broken Play-to-Earn model by introducing cyclical game mechanics, providing a tightly interconnected plot for increased user stickiness and establishing a joint venture with a game studio with over 17 years of experience and a multi-million user base under its belt.
To make the in-game economy complete, Sugarverse adopts a double-currency model with the cryptocurrency token CNDY and the in-game point gCNDY to ensure predictable rewards and offers the Spin to Win mechanics in PvP where players can multiply rewards up to x1,000 times (there is a probability to win up to $100,000), and implements a system where not everybody wins.
As a result, users are motivated to stay, and a balance between player rewards, topping up the community treasury and further game development is reached.
To develop a high-quality game world, Sugarverse turned to an established game studio. XS Software is the creator of one of the first Free-to-Play game empires that have achieved global success.
It has come a long way from a team of 7 in 2005 that launched its first browser game to a team of over 80 members who launched 10 games in over 30 languages across multiple platforms and attracted tens of millions of global players.
The Sugarverse CEO Nikolay Mitev stated:
“We at Sugarverse are extremely proud to have the cross-platform and mobile gaming masters XS Software in a joint venture with us to work towards a high-quality sweet metaverse world for our players.”
In the joint venture with Sugarverse, XS Software will use its wealth of experience in the development of popular game mechanics to build the sweet universe of seven mobile games.
The partners will join their competencies and experience in the management of sticky products with hundreds of thousands of users to create a fully sustainable metaverse beneficial for all of its participants.
The XS Software Founder Hristo Tenchev expressed:
“During our 17 years in the gaming market, XS Software has tasted all gaming had to offer, including 3D, VR, and even blockchain. We are now putting all of this experience into Sugarverse to bring you the best and sweetest Play-to-Earn titles. We are planning to launch the alpha version of the first Sugarverse game by the end of 2022.”
Sugarverse is a blockchain project that creates the first candy-themed metaverse and fixes the unsustainable Play-to-Earn model.
It aims to become the first metaverse in the Fast-moving Consumer Goods industry and introduce major confectionary brands to web3.
About XS Software
XS Software is one of the pioneers of browser-based games and has been in the gaming market since 2005. The most successful games of the 10 ones it has developed are KhanWars and Lady Popular. In 2020, their user base reached 60 million players.
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