Play & Earn: the Latest GameFi Token (MATE) that are Worth to Know
Tags: Gamefi, Bsc, Nft

December is a GameFi month, because latest attractive projects are in GameFi field, such as Star Wars, DeFi Kingdoms, UFO Gaming, and etc. Many new GameFi projects are now exceeding old ones. For instance, DeFi Kingdom (DFK) now ranks second behind Axie Infinity in volume in the last day, contributing $280M of the blockchain’s $507M in total value locked as of December 14. On December 15, 2021, Legends of Mitra (LoM), has raised USD1.45 million for private financing round. Even there are many GameFi hackathons setting to reward the brightest gaming developers in blockchain. All of these can show the fast development of GameFi.

As the data showed from Coin Market Cap, the total value of digital assets locked in DeFi platforms has reached an astounding US$519.5 billion on December, 2021. Meanwhile, the NFT industry has seen a huge jump in trading volume with sales volume exceeding US$109.2 billion on December, 2021. Vmates has merged DeFi, NFT and gaming altogether, which is not only allowing players to earn tokens while playing but also further monetize their assets via liquidity mining and yield farming.

Vmates is a digital pet community platform that integrates collection, training, breeding, fighting, and social gameplay. It aims to provide people with a new lifestyle and organically integrate work and entertainment. It is worth mentioning that in Vmates, anyone can earn token rewards by mastering gameplay and contributing to the game world. This article will first show about Vmates’ token economy and second tell multiple usages of Vmates tokens (MATE).

It makes sense that Vmates has a layout for what the MATE token will do in the long term, helping the users in their experience of the metaverse and their pets. In addition, the MATE token is also able to be used for the on-going needs of the Vmates project.

For the MATE token, there will be different allocations for the following reasons. Each percentage is calculated from the total circulating supply:

● 25% Ecosystem and Game Output: this will be marked as tokens needed for the users directly on the platform. If a user gains or uses MATE tokens on the site, it will be taken or added to this allocation respectively.

● 12% Marketing and Building: this will be used for the advancement of any marketing needs that Vmates needs in order to grow the platform

● 10% Team Share: this will be the total amount that the team obtains as a means to help build the platform. This is part of a vested schedule and the team will not be able to access all of these tokens right away, but over a longer period of time.

● 8% Advisory: this will be for advisors and other experts in this space that can help is grow on a business development and intelligence level

● 5% Early Investors: as a way to support those that backed us from the beginning, this is given to those that helped us start our journey.

● 3% Partnerships and Offerings: this is used in reservation for any partnerships Vmates needs to make for the progression of the platform

In addition to this, 25% will be locked in reserve and used at a later date so that the tokens remain liquid to the platform.

The MATE token will help facilitate these benefits to keep economic integrity for both the users and to the platform, so that everything can function as intended. It will be exciting to see how the MATE token keeps the platform healthy, knowing that users can interact freely within the network.

Usages of MATE

1. Pets and equipment upgrades

While entering into Vmates, each player can receive their first virtual pet for free after register. The free pet also contains all the gaming functions so players will have a low threshold to enter Vmates game. However, players need to upgrade their pets occasionally to power their pets, then their pets are able to win in the fighting. There are two ways to power their pets.

First is upgrading the pet itself. Pet will upgrade during the fighting, however in each of big step, like from green level to blue level, players need use MATE to finish the big update (evolution).

Second is upgrading pets’ equipment. Pets will be stronger if they have brilliant equipment. For equipment, players are able to combine several materials into an equipment, while the process for combining will cost MATE. Also, players can upgrade the equipment again if they collect enough materials for upgrading, and that process need MATE to complete.

2. For obtaining additional commodities in supply center

Pets have numerical value, such as blood volume and stamina, while equipment has durability. Each time when pets finish fighting, all of those numerical value will decrease. You can give pets time to relax to recover state or you can spend MATE to get additional commodities in supply center. Those commodities will help your pets to recover some state to make your pets back to fighting soon. For increasing equipment’s durability, you need to spend both MATE and materials.

However, there is a limitation for purchasing additional commodities in supply center by MATE per day. That is, players can spend MATE to increase their pets’ fighting times to get more chances to win more tokens, while the number of times will be limited and reasonable.

Apart from that, fancy and customized clothes are available in supply center. Players are able to spend MATE to get them. These clothes will not make pets more powerful, but only for satisfying players needs for good-looking appearance.

3. Liquidity on the pet community platform

As a pet community platform, Vmates must have its own platform tokens, which is MATE. In the Metaverse that Vmates creates, all goods can be purchased by MATE, and all the transactions need MATE. MATE will eventually become the base currency of the platform. MATE is mainly servered for two of the major foundations on the platform: the Vmates Plaza and the Vmates Market.

MATE plays an important role in Plaza, for all social-interaction between you, your Vmates pet, and other people on the network. MATE tokens are given for all support team battles, and can earned by playing and winning social games. However, Social games take a minimum amount of MATE tokens to play but can add additional MATE tokens as a bonus pool to make things more competitive if they wish. Apart from that, players are able to receive MATE token by getting good rankings on pet shows, while ten pets each week will be chosen by the users of the platform based on their attractiveness and style. The most important and expensive part in Plaza is construction. There is virtual land that is not only available but can be built upon. Players and their pets can construct houses, commercial real estate, and much more. Unused land can be purchased and sold on auctions. All of those in construction need MATE tokens to complete.

In addition to the Vmates Plaza, the Vmates Market is also another major aspect of the platform. While the Vmates Plaza lets players interact with their pets on a social-interactive level, the Market gives a social-economic playability to the platform. Users can buy, sell, trade, and otherwise exchange or create different Vmates pets by using MATE tokens, so they can interact with them later on the Plaza or on their own.

So far this month, the average selling price of the primary market (casting) of Metaverse’s NFT has increased from the previous month’s month-on-month (38.25%) higher than that of card NFT (10.57%) and game NFT (-45.60%), but in the secondary market (change the average selling price of the previous month’s month-on-month increase (56.75%) is still lower than the card NFT (86.32%), and the difference between the two is nearly 30 percentage points. This shows that the casting price of Meta Universe NFT is increasing, but the exchange transaction price is not increasing simultaneously, which may affect its liquidity.

If we estimate the overall average yield from the difference between the average price of NFT secondary and primary average price, we can see that the average yield of Meta Universe this year has dropped from 772% to 224%, and the overall trend is declining, but the last three There was a rebound in the month. Also, during the year, the overall return rate fell in game NFT, which exceeded 1100% at a time, but currently only 144%. On the contrary, the overall rate of return of card NFTs showed an upward trend during the year. At the beginning of the year, it was only 72.77%, but now it has risen to 201%. For now, Metaverse NFT has the highest turnover rate.

Currently, Metaverse NFT has more buyer addresses than seller addresses. So far this month, the average ratio of buyer addresses to seller addresses is about 1.25, which is about 0.96 in the card market and about 0.82 in the game market. This confirms to a certain extent that Metaverse has strong buying demand. In such a market, Metaverse NFT sellers have more obvious bargaining advantages. Hence, MATE will be more powerful while Vmates is not only a GameFi game, but also build a Metaverse.

Advantages for MATE

There are many advantages for Vmates’ token MATE. Compared with traditional GameFi game, Vmates build a Metaverse more than only a game. Players can make friends and share their secrets instead of only playing games. That is, Vmates’ token MATE has more application scenarios. Also, because of new GameFi game mode, Vmates will be easier to attract more players, which is good for its token MATE as well.

The problem with the popular traditional GameFi game mode is that although the game produces reward tokens, the connection with their official tokens is weak and the official tokens lack sufficient application scenarios. Meanwhile, the entry threshold price is too high, which is hard to attract new players. Less players will cause less liquidity, which will make the token less powerful.

Different from traditional GameFi game, Vmates’ plan is to start with pets growing, and creates a low-threshold entry for players to attract more players. Also, Vmates will use MATE as a means of payment to increase token consumption, and finally present a complete game and community platform through plaza. We and third-party social games to realize the MATE token as the basic token of the platform.

All in all, Vmates has built a whole Metaverse as well as a pet community platform, which empower MATE a lot. Players are able to use MATE to upgrade pets and equipment, obtaining additional commodities in supply center, make transactions on the pet community platform, and so on. Besides, Vmates solve some pain points, such as high access costs and week relations between games and tokens. Thus, the application of MATE is out of imagine MATE is worth to hold.