What is the advantage of Farcana over other WEB3 games?
Bad tokenomics are hindering the potential of GameFi. Is P2E ever going to make a comeback?
Luckily, Farcana has found a solution. Web3 gaming is a significant growth factor for adoption. Supported by the latest blockchain technological advancements. It offers gamers excitement while rewarding them at the same time. Most of the available games suffer from similar issues:
- Unsustainable economies
- Lack of depth/features
- Outdated technologies
- Repetitive in-game loops
The majority of these issues stem from a single fault. The unsustainable P2E tokenomics. P2E model rewards players for participating in repetitive in-game loops. Pushing them to upgrade in-game assets for faster progression. Eventually, leading to a collapse due to too many rewards being handed out. The lack of creative elements in games is often associated with a lack of fun factor. This leads to a lack of in-game value sinks. Pushing players into selling their rewards.
Game development is a long process, one that takes years to complete. With P2E issues present, most developers won't have that chance. Developers should stop picking out the simplest games from Steam. Instead, they should work to create something innovative. Building something using cutting-edge technology for the appeal factor. Fixing all the problems, mentioned above, will considerably increase the game's lifespan. At Farcana, we are doing just that.
Farcana took the existing P2E model and upgraded it to Play-to-hash or P2H. Instead of providing a $FAR native token as a reward, we reward players in $BTC instead. We achieve that by partnering with OneBoost. A mining facility that manages miner equipment and provides us with a $BTC Hash rate. Farcana takes that hash rate and rewards players. In a series of tournaments that can be accessed using NFTs. With 80% of rewards going towards premium players and 20% to free-to-play. By rewarding players in $BTC, we avoid native token sell pressure. Gaining more freedom where we can build an ecosystem around $FAR token. Without the fear of destabilizing the in-game economy.