Space Misfits Whitepaper
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Play and Earn
Player Owned and Operated Economy Backed by ERC-20, NFT, and FT Assets
Space Misfits will thrive on a sustainable Play AND Earn economy driven by proof of work, proof of stake, and player to player transactions. The economy will run on two main assets, BITS and CROWN($SMCW).
BITS
BITS is an in-game only, non-transferable commodity obtained by either proof of work or proof of stake. It is a universal crafting resource used for the creation of spaceships, weapons, and clones. It is also used for in-game services such as repairs and refueling. Players will acquire BITS by completing missions, farming NPCs, and progressing in the game. Users can also acquire BITS by staking CROWN tokens in the game. The largest in-game earnings potential for BITS will come from Space Station Ownership, Planet Outpost Ownership, and owning shares of in-game companies; all of which are FTs held in your ENJIN wallet and freely traded on the ENJIN marketplace. BITS also has an added play and earn feature. It can be used in the King Vault to purchase rare skins, emotes, and blueprints. All of these items are FTs backed by ENJIN and tradable on the secondary market.
The only way BITS can be transferred or shared is through the establishment of a guild. Establishing a guild will require a fee paid in CROWN.
CROWN
CROWN is an erc-20 token and will act as both the governance token for the Space Misfits DAO, the premium in-game currency, and the currency of record for the p2p marketplace. Players will be able to deposit their CROWN tokens into the game by interacting with a smart contract in the web app.
CROWN will be used the same as a premium currency in a traditional game; whether that be for access to seasonal content or the purchase of exclusive NFT/FT assets in our web shop. All fees paid for game content go directly to the DAO treasury. CROWN will be awarded for special events and rare missions; however, its main utility is not to reward players but to be used in game. Rewards issuance will scale with player base. Initially we will be more generous with CROWN drops to reward our early players and supply the market with liquidity for p2p trade. In the long term we plan to control supply and release rewards based on how much CROWN is being removed from circulation via marketplace fees and content purchases while maintaining a desired inflation rate.
The most earning potential for CROWN will come from player to player trade. All in game items(with the exception of BITS) are traded for CROWN on our p2p marketplace. Every marketplace transaction nas a 5% fee which is deposited into the treasury(Space Station Ownership, Misfit Founders, and Misfit Support tokens also receive a percentage of this fee). There are dozens of resources that can be earned in game, including a wide range of minerals and rare crafting materials. All these items can be traded p2p for CROWN. The most valuable items to trade will be crafted ships, turrets, modules, and clones. To craft these items you will either need to hold the corresponding FT blueprint in your ENJIN wallet, purchase a One Time Use blueprint copy in game, or earn a One Time Use blueprint copy through gameplay. Crafting items will require BITS as well as varying combinations of minerals and components.
ENJIN Backed FTs
There will be numerous ways to earn FTs in the game. These tokens can be skins, emotes, blueprints, Telemetry to improve crafting, or shares of in-game companies which can generate BITS. All are backed by ENJIN and tradable on the ENJIN marketplace.
Sustainability
Maintaining bits as an in-game only commodity which is only transferred between the player and the game allows us to give players a progression with exponential earning potential typical of traditional MMOs. We can do this without running into the hyperinflation issues present in most play to earn games, and the black markets that exist for in-game currencies in traditional games.
Earning potential of CROWN is focused on p2p transactions rather than inflationary rewards to maintain stability without the need for growth that many play to earn models are faced with. We have a very large allocation of CROWN for Play And Earn and foresee it could last us 7-8 years without any addidional tokens coming from the treasury.
Many of our play and earn features will come in the form of FTs tradable on ENJIN's jumpnet marketplace. When these items trade they generate JENJ fees which go to the treasury. These fees could potentially be used to buy back CROWN off the open market. This system makes play and earn strengthen the ecosystem rather than dilute CROWN.
Last modified 3mo ago
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