Gaming and Web3. Imagine a cryptocurrency that allows you to play games on the blockchain and rewards you for doing so. This is where Nakamoto Games comes into play!
Nakamoto Games also know by the market ticker NAKA, is a play-to-earn gaming infrastructure that offers users worldwide access to blockchain-based games. It does this by adopting a play-to-earn model within the Polygon ecosystem, offering users the benefit to earn tokens while playing different games.
At its core, Nakamoto Games aims provide a digital bridge for traditional gamers to join the world of play-to-earn on the blockchain.
But how does Nakamoto Games work exactly? And what are the Tokenomics of the NAKA token?
What is Nakamoto Games?
Nakamoto Games was founded in December 2020 by Chawalit who acts as the CEO.
Nakamoto games aims to provide a list of blockchain games, from strategy and adventure games to puzzlers and arcade-style games, including 500 Web Graphics Library games, more than 50 AAA titles, and hundreds of PC and mobile games.
Additionally, Nakamoto Games also acts a hub for game developers, providing them with a Software Development Kit to develop, launch, and monetize their games effectively. The platform also allows players to vote on which games should be released next.
Nakamoto games also plans to expand to multiple other platforms including BNB Chain, Solana, Avalanche, Near and more.
Play-to-Earn Model
As I mentioned earlier Nakamoto Games employs a play-to-earn mechanism designed to reward players with NAKA tokens based on their skills and achievements within the game.
The main reward structure relies on prize pools specific to each game, which are funded by the entry fees from the players.
These rewards are then divided among players according to their performance, with those achieving higher rankings receiving a larger portion of the pool. Consequently, your final earnings could either surpass or be less than the entry fee you paid, depending on how well you rank.
Free-to-Earn Model
Nakamoto Games also offers many of its popular games under a free-to-earn model, allowing gamers to play without needing a web3 wallet, which makes it easier to enter the ecosystem for those new to blockchain technology and cryptocurrencies. Players who show good gaming skills and land in the daily top 10, can earn free tickets. These tickets serve as in-game assets that can be used to access Nakamoto’s play-to-earn games or sold on the platform’s NFT marketplace.
Weekly Reward and Referral Systems
In addition to the free-to-earn system, Nakamoto Games features two additional ways to earn: weekly rewards and a referral program. The weekly reward system benefits players who rank in the top 10 weekly within a specific game, with the size of the reward pool varying, depending on the total number of players each week. On the other hand, through the referral system, anyone who introduces a new player to Nakamoto Games earns a 3% fee on any NFT purchases made by their referrals.
And the final reward program is the Watch2Earn.
Watch2Earn Model
Participants in this program can earn rewards by simply watching ads from participating advertisers, providing feedback, and reviewing products and services. The rewards from this program are tier-based, determined by the number of ads watched and tasks completed.
But what really makes Nakamoto Games unique?
What makes Nakamoto Games unique?
Perhaps the most unique feature of the Nakamoto ecosystem is the Nakaverse and NAKA NFT Marketplace.
The Nakaverse serves as Nakamoto Games’ immersive metaverse environment where users can engage in virtual mining for raw minerals on their own plots of land.
These minerals are essential for creating in-game assets and players can use them in two different ways. Either use them in various games to enhance gameplay or sell them on the NAKA Marketplace for profit.
The NAKA Marketplace on the other hand, is Nakamoto Games’ hub for trading in-game assets and Nakaverse Land NFTs.
There are two types of virtual land available for acquisition: Mining Lands, which are rich in raw minerals needed for asset creation, and Production Lands, which are optimized to enhance the productivity of in-game asset creation.
But how about the tokenomics?
NAKA tokenomics
NAKA initially started life as an ERC-20 token on the Ethereum network, before migrating to Polygon, which makes it a Proof-of-Stake cryptocurrency
As a Proof-of-Stake cryptocurrency NAKA, has a number of use cases that include the following:
It serves as a payment method for access to games and services on the platform, it also acts as the platform’s P2E asset to reward players and facilitates the purchase of NFTs representing in-game and Nakaverse assets.
Finally, NAKA acts as a governance token that allows holders to participate in the platform’s governance via the NAKA DAO.
In total there will only ever be 180,000,000 NAKA tokens and by the end of its vesting schedule, the allocation will look as follows:
22.2% will have gone to the Play-to-Earn Vault, 13.8% to Team & Advisors, 11.1% to Operational Reserves followed by 8.3% for sponsoring players (Player Sponsoring). 5.5% to the Game Development Fund and another 5.5% to sponsoring developers. 2.7% was allocated to salaries and another 2.7% to the Angel Sales Round. 5.5% was sold during the Seed Round, 11.1% during the Private Round 1 and an additional 10.7% was sold during the Private Round 2. Finally, 0.3% was allocated to the Initial Dex Offering.
The platform also incorporates a burning mechanism, where a portion of tokens is sent to a wallet with no private key, leading to their permanent removal from circulation. This is a strategy to reduce token availability and potentially increase market value.
Conclusion
Nakamoto Games isn’t necessarily the most unique project on the blockchain, as it offers something that has existed for some time.
Though, what makes it a unique proposition is how it is trying to bridge the gap between Web2 and Web3 gaming
by introducing multiple reward systems for its users and providing developers with tools to build, launch and monetize their blockchain games.
Assuming the project delivers on its promises, it seems likely Nakamoto Games’ best days still lay ahead. Though as always nothing is ever guaranteed in crypto!
How to create a NAKA wallet
Step 1: Visit https://metamask.io If you already have a Metamask wallet, skip to step 4
Step 2: Download and install Metamask Wallet from your mobile app store or your browser.
Step 3: Open Metamask and create a new wallet or import an existing one.
Step 4: Switch to Polygon Network and import the $NAKA contract first. To start importing, press Import tokens and paste the following contract address: 0x311434160D7537be358930def317AfB606C0D737
Once you are done, press Add custom token to import $NAKA into your Metamask wallet. You will now be able to see your $NAKA token balance on Metamask.
If you want to support the blog, please donate $NAKA to this address: 0xddA614Af4f70DB1D811B7539cf49069A87460066