Yuliverse Public Beta: Our Experience and Thoughts | TKX Weekly
by @Guaaronnnn @FriedWagyuu
Part I. Yuliverse
Yuliverse is a location-based metaverse empowered by in-game social app. Players can meet other players nearby while playing Yuliverse and connect with like-minded people in the same city. Before Yuliverse, there are many location-based GameFi projects like Genopets or Affyn, but Yuliverse is the first game that released. Currently, Yuliverse is in public beta, let’s find out what’s special about it.
- Free to play: Unlike most of the X-to-earn games. Yuliverse offers players a free-to-play option. If players become Yuli NFT holders, they can enjoy the game with additional privileges and also gain profits by acquiring $ARG and $ART, the game token and the governance token.
- Explore to play: The highlight of the game is its location-based technology, players can get $ARG and $ART by exploring the city to purify Terras. Purifying Terra gives players resources (exp points, tokens, cards, etc.) to improve the Yuli. Although it sounds simple to earn $ARG and $ART, Yuliverse’s game mechanism is not as simple as it appears. To obtain higher rewards, a certain level of unique skill is required and players need to throw 5 dice with 6 sides to see what skills they need to purify. With a higher skill level, there will be a higher probability to get a good result.
- Social: Social is the second core of the game. Yuliverse has a matching alert that notifies players while purifying the Terrae in the city. Players can find each other when purifying the Terras and initiate communication requests. This mechanism is convenient for making connections with soldiers in the same city. Players can also team up with other players through its location-based matching mechanism. By playing the dungeon mode together, players form bonds in both Yuliverse and reality.
Since Yuliverse launched its public beta, the product can already tell way more stories than games with white paper only. In the beta, users can use previously airdropped NFTs to enter the game and experience the following game-plays:
- Search and purify Terras
- Collect experience points
- Upgrade Yulis and skills
- Collect cards and play card games
- Chat with players nearby
To earn tokens, exp points, and game items, players need to move around to find Terras and Floating Lights (exp points). Both of the above are pin-pointed by AI so that users can easily find the locations based on their everyday routine. Keep in mind, every time you purify a Terra, you need to have at least one shield and 50% of your Sanity Points (SP) to achieve maximum earning. Or, you might end up not earning enough tokens to buy SP potions for recovering.
After a busy day of finding Terras and Floating Lights, if you are lucky, you will be back home with some game cards. The card game is simple: players place their cards on a 3x3 board one by one. If your card has a higher number than the neighbour’s, you can flip the opposite card and turn it into yours. In the end, the player with more cards on the board wins.
Currently, the card game does not involve tokens or trading. Players’ sole incentive for playing ranking games is to win ranking scores. When you have a higher ranking score, more wins will be needed to get the same score points, incentivizing players to keep challenging and playing more games. Every week, the top 200 ranked players are announced.
Not many GameFi projects offer social functions. Yuliverse’s social function might be a potential breakthrough in GameFi. Also, treasure hunting has huge potential to combine real-life collaboration and thereafter lead to mass adoption among local users.
Yuliverse’s tokenomics is still uncertain at this stage. Although it has a complex and diverse gaming system, the gain or profit eventually depends on the $ARG and $ART. We are looking forward to seeing how the team will design the token.
Even though there are some uncertainties, Yuliverse is the first game in-kind that delivers its beta. We expect the team to continue delivering and more updates will be added soon.
Part II. Market Updates
Social-Media Giant LINE Closes Its Crypto Exchange Bitfront
Japanese social-media company LINE will shut down Bitfront, a crypto exchange that it launched in 2020. LINE will now shift its focus from the exchange to its native blockchain and token.
Telegram CEO Durov Plans to Build Crypto Wallets, Decentralized Exchange
Messaging app Telegram has sold $50 million in usernames in less than a month through its blockchain-based auction platform, Fragment. The figure speaks to the success of Telegram’s second go-around at bootstrapping its own crypto infrastructure. Fragment is built atop the Telegram Open Network, a blockchain Durov abandoned under regulatory pressure in 2020 and later returned to after its community kept it alive.
NFT Investor Animoca Brands to Start $2B Metaverse Fund
Non-fungible token (NFT) and gaming investor Animoca Brands plans to set up a fund worth as much as $2 billion to invest in metaverse businesses. Animoca Brands will unveil the fund, called Animoca Capital with plans to make its first investment next year. The fund’s focus “will be everything on digital property rights”.
Perpetuals-Focused Decentralized Exchange GMX Surpasses Uniswap in Daily Fees Earned
Decentralized exchange GMX has evolved as a serious competitor to established industry players such as Uniswap in the wake of FTX’s collapse. On Monday, GMX earned $1.15 million in trading fees, surpassing Uniswap’s $1.06 million for the first time on record, according to data tracked by Delphi Digital.
FTX’s collapse is ‘a Lehman moment’ for crypto: Yellen
U.S. Treasury Secretary Janet Yellen compared FTX’s collapse to a catalyst for the 2008 global financial crisis. “It’s a Lehman moment within crypto, and crypto is big enough that you’ve had substantial harm of investors, and particularly people who aren’t very well-informed about the risks that they’re undertaking, and that’s a very bad thing,”
Apple disables version of Coinbase Wallet over NFT gas fees
Apple opted to block the latest version of Coinbase Wallet that would allow users to send one another NFTs, according to Coinbase. The version of the app was shut down as Apple wants to take a 30% cut from gas fees for NFT transactions.
Part III. Fundraising News
Lyra — Open protocol for trading options
Raised $3M in a strategic funding round from Framework Ventures and GSR.
Fleek — Web3 developer platform
Raised $25M in a Series A funding round led by Polychain Capital. Other investors include Coinbase Ventures, Digital Currency Group, Protocol Labs, Arweave, North Island Ventures, Distributed Global, The LAO and others.
Daylight — Software solution for aggregating web3 perks
Raised $3M in a seed funding round co-led by Framework Ventures and Chapter One. 6th Man Ventures, Spice Capital, OpenSea, Seed Club Ventures, Eniac Ventures and others.
Keyrock — Market maker
Raised $72M in a Series B funding round led by Ripple. Other investors include Six Fintech Ventures and Middlegame Ventures.
FrankieOne — Australia-based regtech firm
Raised $15.4M in a series A+ funding round led by AirTree Ventures and Greycroft. Other investors include Binance Labs and Kraken Ventures.
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