#gamefi #BSC

If you like the author’s articles, please follow us, thank you.

Project name: Ultiverse

Country: China

Public chain: BSC (game entity)

Sectors: NFT, 3A blockchain games, VR

Key event nodes of the sector: Apple will release MR headsets in Q3, and the VR industry will explode this year and next year.

Financing situation, time and institutions: 18.5 million US dollars + about 3500-4000 ethers of NFT sales income. In the seed round in March 22, binance and 3 other investors raised 4.5M, in the first round binance raised 5M, in the second round in June Mint Ventures raised 9M (not disclosed on the official website). Investment institutions: binance, Defiance Capital, Skyvision, SEQUOIA, Mint Ventures.

Tokens issued: None.

Past sales: Electric Sheep (NFT), Moonlight AI Companion (NFT)

Roadmap: (in chronological order) Terminus city Alpha beta (NFT holding, open at the end of January) - Terminus BETA test - METAFI economic system launch - Endless Loop Alpha beta test - Endless Loop BETA test - Bazaar market - two game public beta tests - VR launch - Dark Fantasy Alpha beta test (3A strategy game) - Ultiverse developer DAO

Special events: None

Overview: The main game is divided into Terminus City and Endless Loop. NFT products are divided into Electric Sheep and Moonlight AI companion.

Product 1: Terminus City: The center of the universe, where users can create their own experiences and social environments in galleries, bazaars, guilds, mini-game centers, bars, and other spaces. (Before the main game is launched, this is the key display space of the project. Refer to Secondlive, RACA and other products. I think most of the on-chain activities will be here)

Product 2: Endless Loop: A AAA Web3 game about space exploration. Endless Loop allows users to farm resources, build bases, explore planets, and fight other players. (This is the full version of the game, with an open world and complete economic activities. It is expected to take a long time to develop. The introduction has some EVE-like gameplay and elements in it.)

Product 3: Electric Sheep (NFT) Total 7,000 pieces ETH chain Rarity Floor price 0.82 ETH

Uses for holding: can be used for Terminus 3D avatar airdrop, Terminus dual token airdrop, Terminus land airdrop, access to the Alpha versions of Terminus and Endless Loop, Moonlight whitelist.

Roadmap (not implemented): Electric Sheep on-chain gameplay is launched - Terminus closed Alpha test - First phase of airdrop for Electric Sheep holders - Terminus 3D Avatar NFTs airdrop - Future welfare announcement (future collection automatic whitelist/exclusive NFT airdrop/token welfare).

Market situation: Official royalty is 5%, OS royalty is 2.5%. As of January 30, 23, the order rate of this project in the NFT market is relatively low. There are 7,000 NFTs, 0.8% of which are market orders, and 37% are exclusive addresses. Last week, sales rebounded compared to the previous period, with a total of 59 pieces sold, and liquidity is still low. (The reason for the poor liquidity and high proportion of independent addresses is that the airdrop rights of Dianyang NFT in the later stage are bound to the pledge system, and the airdrop rights pledge of the points token and roadmap planning can be obtained. Multiple NFT pledges in the system can obtain income bonuses. There is no fixed period for pledges and they can be unlocked freely.)

Product 4: Moonlight AI Companion (NFT) Total 22,248 pieces BSC chain No rarity Floor price 0.032BNB

Official royalties 5%, OS royalties 2.5%, market orders 1%, exclusive addresses 37%

Look at the introduction of in-game gameplay similar to cultivating a girlfriend, driven by OpenAI algorithm, which can provide some auxiliary functions in the game.

Evaluation by third-party investment research institutions: None

**

Author's opinion 1: Binance led the first round of investment, and then raised additional funds. This behavior shows that Binance attaches great importance to this project. This additional investment is said to be for Binance to increase the project's voice (the main body of the game is built on BSC, which is probably the reason for the additional financing). The second round was 9M from Mint Ventures, which basically equaled the amount of the first round of financing. It can be seen that the proportion of Chinese capital in this game, domestic teams, and domestic capital. For 3A masterpieces, 18.5M of financing is not enough, because 3A chain games have more operating costs for FT and NFT than traditional games. I think this part of financing is no problem for Terminus City, but it should not be enough for Endless Loop. Whether the next round of public financing will still be led by Binance is the key point. The increase in the proportion of other Chinese capital is not necessarily a good thing (even if the game play of the project heavily controlled by Binance is not good, it will also have a better wealth-making effect).

Author's opinion 2: I agree that fun cannot save blockchain games. Economic design and team operation are still the most important parts. Although the final product is fun, it has no economic benefits and is meaningless to cryptocurrency players. 3A blockchain games are closer to blockchain products, because it is not realistic to upload a large amount of data to the blockchain. The economic design of the blockchain part is the key observation object. Moreover, the biggest difference between 3A blockchain games and NFT projects is that the latter is from point to surface, while the former is from surface to point. First, a grand world is established, and then the entertainment experience is enriched in detail and step by step (the gameplay brought by the sale of different series of NFTs and FTs is more relevant to Terminus city). This year, we will mainly focus on the release of the white paper, the subsequent sale of NFTs, and some gameplay brought by the Terminus city B test (also the so-called METAFI economic system) (here it is speculated that it may be a 3-coin system, governance tokens, utility tokens, and soul point tokens; point tokens are the first to have utility, and there is a long vacuum period before the main game is released. If the points and rights are deeply bound, it may cause the price of NFTs to rise (multiple NFTs have additional output BUFFs), and focus on the utility of points).

Author's opinion 3: Endless Loop is unlikely to see Alpha testing this year. Large-scale 3A development takes too long and is difficult. 3A sandboxes have several long-standing problems (cheating, environmental bugs in the simulated world, multiplayer online network stability, and hardware configuration requirements), and blockchain games are particularly sensitive to the first two.

Suggestion: If the game experience is smooth and the delivery capability is strong. If you have sufficient funds, you can consider purchasing Dianyang and staking it. Before the Alpha test of the main 3A game, there will be a vacuum period. There is a high probability that the main operation will be centered around the points system and the new NFT series airdrop interaction. Speculative players should sell at the right time and don't wait for the main 3A masterpiece.

As China has been flooding the market with money this year, expectations for projects with a relatively high proportion of Chinese capital can be appropriately raised.