HuntingNFT A New Gameplay Ignites the Market, GameFi Explores New Opportunities?

“After the launch of HuntingNFT v2, the newly launched garrison and sacrifice gameplay are bringing considerable and sustainable income to players, making it a new hot spot for GameFi mining.”

After a brief frenzy in 2021, as the market turned bearish at the beginning of 2022, the GameFi market also began to cool down. According to Footprint Analytics data, since the beginning of 2022, the market value of the GameFi market has been continuously declining, which comprehensively reflects the overall TVL and token market value shrinkage of the GameFi track.

Similarly, since the beginning of 2022, although the number of GameFi projects is still growing at a fast rate, the number of active GameFi projects is plummeting, reaching new lows.

In fact, the root cause of the continuous plight of the GameFi track lies in the difficulty of providing satisfactory returns to players. On the one hand, after GameFi applications showed a surge, homogeneity became severe. For example, dozens of imitations appeared after Axie Infinity became popular. The incentive competition within the track has also caused the already low market share of the GameFi track to be highly internalized, leading to a continuous decline in internal motivation and persistently low returns.

On the other hand, GameFi itself not only lacks playability, but also its native encryption features hinder its broader capture of users (lack of external increments). In the early stage of the development of the encryption industry, hot money and users have always been flowing back and forth in different industry sectors. In the case of the overall decline of the GameFi, users continue to drain, and the track is caught in a vicious cycle of continuous decline.

Although the overall performance of the GameFi market is not good, after HuntingNFT launched version 2 in early July, it has attracted market attention with its impressive returns. According to the income data statistics of HuntingNFT, the APR of the game’s Defense mode reached a peak of 174,680.91% on July 8th, and the average APR since its launch on July 6th has also been above 4,000%. The highest daily return rate of the Sacrifice mode is 2,146%, which means that a 100u investment can return 2,146u on the same day, and the average return rate has also stabilized at 100%-200%. Overall, the Yield Farming APR of $HNFT is currently around 150%, and the payback period of the game itself is relatively short.

In addition, the NFT assets of the HuntingNFT game are also synchronously launched on the YokaiSWAP platform. As of now, the highest market premium for equipment assets and the White Fat Dragon has exceeded 500%, and the trading volume is gradually expanding. Early users who entered the game have made considerable profits from it. HuntingNFT has also become a new hot spot for GameFi mining in recent times.

HuntingNFT v2 launches a new GameFi value wheel

HuntingNFT is an original GameFi project initiated by Nervos global community volunteers and always governed in the form of DAO. The project has remained active in the market since the launch of the v1 Beta version in the fourth quarter of 2021 and finally released the v2 version with an economic model in July 2023. It has also landed on the YokaiSWAP DEX and may be listed on more CEX exchanges in the future.

Since the initial release of the project, HuntingNFT has maintained its popularity over a period of nearly two years. In fact, the GameFi market itself is a fast-paced emerging market, and the lifecycle of most GameFi projects usually does not exceed six months, which is in stark contrast to HuntingNFT.

In November last year, when HuntingNFT launched the v1 version, we gave a detailed introduction to the game mechanics of HuntingNFT. After the launch of v2, it further opened up new gameplay, including garrison and sacrifice.

Currently, HuntingNFT v2 includes several main game elements: Dragon Scale NFT, Dragon Scale Equipment NFT, and White Fat Dragon NFT. Among them, Dragon Scale NFT is the basic NFT element of the game, and this asset can be used to activate the battle mode after being exchanged with Nervos L2 CKB in the game.

Dragon Scale Equipment NFT includes helmet, chest armor, shield, wings, and sword (collecting 5 different equipment can summon the White Fat Dragon NFT on Castle Night). Currently, equipment from level 1 to level 5 can be obtained through battles, and equipment from level 6 to level 10 will be released in future game modes.

The White Fat Dragon NFT can be used to participate in gameplay such as garrison and sacrifice in GameFi, and obtain daily earnings, sharing, and sacrifice rewards on the HuntingNFT platform.

HuntingNFT v2 mainly includes hunting mode (consume Dragon Scale to hunt evil dragons and obtain equipment), garrison mode (defend and receive rewards through White Fat Dragon NFT, with APR ranging from 2000% to 8000% in recent days), and sacrifice gameplay (sacrifice the White Fat Dragon NFT to obtain one-time rewards, with the daily sacrifice reward pool set at 104,722 $HNFT, and the rewards from the sacrifice pool are shared by the White Fat Dragons sacrificed each day). The considerable game earnings have also attracted a large number of active gamers to HuntingNFT.

For specific gameplay, please refer to the game manual.

Gitbook link: https://docs.huntingnft.cc/

● Economic Model

HuntingNFT has built an economic model with a “recycling” feature. The full-cycle value generated by players from acquiring NFT game assets to sacrificing the White Fat Dragon will be used to support the development of the ecosystem and the secondary market of $HNFT, ensuring a positive cycle of ecological value and long-term effectiveness of the ecological economic model.

In addition, in the HuntingNFT game, the CKB income from the daily battles participated by game users and released by the Dragon Scale NFT will be automatically transferred to the trading robot address of Nervos L2 Godwoken. The intelligent quantification robot will execute the market-making strategy for the day, buy $HNFT, and then transfer it to the daily garrison reward pool for distribution, forming a value support and positive cycle from NFT minting to the secondary market, and is expected to promote the further rise of the token price itself.

Therefore, we can see that each part of the HuntingNFT game v2 can generate substantial game revenue. These revenues are not generated out of thin air, but come from external market value and economic recycling.

On the one hand, HuntingNFT applies all the incremental value of users to incentivize the token $HNFT, helping it continuously capture external value and establish a more solid value moat. On the other hand, $HNFT assets themselves have no early private or public fundraising process, and the initial liquidity is entirely generated by game behavior incentivized airdrops. This means that $HNFT assets are held in a decentralized manner (the current holder addresses have exceeded 20,000+). With the launch of game v2, considerable profits have also attracted high attention to the game itself. The project’s Twitter followers have exceeded 20,000, and the Discord community is very active. HuntingNFT has become one of the hottest GameFi games in recent times.

In addition, after logging into YokaiSWAP DEX, HuntingNFT has been continuously cooperating with industry partners, and in the future, $HNFT is expected to be listed on various CEX platforms. It can be seen that since the launch of HuntingNFT v2, the value flywheel of the game ecosystem has been officially activated.

Ability to capture a wider range of users

In addition to building a stable and sustainable game ecosystem through a reasonable economic model, HuntingNFT itself also has the ability to capture a wider range of users. HuntingNFT has integrated with the Nervos L2 Godwoken EVM network, allowing users to use mainstream wallets such as MetaMask, TP, SafeLianGuail, and imToken to play the game with their 0x addresses. In addition, this chain has a more flexible underlying model and rich basic components, which can lower the cost of data on-chain and the transfer of NFTs between game accounts, effectively reducing user participation costs and providing users with lower entry barriers, a safer and smoother gaming experience, and further scalability to serve players.

Since 2023, Ethereum founder Vitalik Buterin has repeatedly publicly proposed the vision of abstract accounts for Ethereum at Ethereum Black Mountain Conference, Paris Ethereum Community Conference (EthCC), and other ecosystem conferences. He believes that easier access and easier use will be important factors for the long-term development of the Web3 world, and abstract accounts will be an important technical solution to achieve this goal. Currently, HuntingNFT game assets are confirmed on L1 abstract accounts, and transactions occur on the Godwoken Layer2 layer, which further guarantees the security and transaction speed of on-chain assets, fully demonstrating the forward-looking and trend-setting nature of HuntingNFT.

POW underlying has a longer-term narrative

Prior to this, the SEC classified some crypto assets as securities, most of which are crypto assets with POS characteristics, including Solana (SOL), Cardano (ADA), Polygon (MATIC), etc., which further triggered panic in the crypto market due to regulation. However, POW assets are not considered as securities that need to be registered and regulated, which is a long-term benefit for POW tokens such as BTC, BCH, and CKB, and is expected to usher in a new round of growth in the future. We can see that HuntingNFT is highly tied to the Nervos Network ecosystem, especially some game asset NFTs that are highly anchored to the CKB token, making it potentially the biggest beneficiary.

From another perspective, although the vast majority of POS underlying already have a sufficiently decentralized distribution of validators, uncertainties such as regulation and the market will pose threats to their security. The POW consensus mechanism itself has advantages and narrative space in terms of security, so application ecosystems like HuntingNFT that are native to the POW system are expected to gain benefits.

Summary

HuntingNFT continuously captures external market value based on its own circular economic system and captures users more widely in a more forward-looking and trend-setting manner, with a long-term narrative.

The GameFi market has been silent for a year, with early leading ecosystems gradually declining, and emerging ecosystems struggling to withstand market cycles. With the launch of HuntingNFT v2, it is helping the long silent GameFi market emerge from the shadows, and the sustainable and significant returns it can provide are the best proof of the rationality of the ecological value system, which also means that the value flywheel of the ecosystem is officially starting.

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