🌲Sustainable P2E Economics
During the 2021 bullrun, we recognize the pitfalls of unsustainable incentivization models that have plagued most of the web3 gaming platforms. The widespread adoption of incentivized models led to a surge in token emissions, resulting in inflated supplies that outweighed actual demand. High inflationary reward tokens are also affected by this during the 2022 bear market. With token prices in decline, the incentive for players to invest their time and money in the game diminished significantly.
To address this challenge, Libera equips a sustainable economy built on the principles of play-to-craft or play-to-own. Rather than solely focusing on play-to-earn mechanisms, our platform emphasises the creation and ownership of in-game digital resources through gameplay, quests, in-game digital assets which can be traded as NFT.
In the sustainable gaming economics of Libera, players engage in a dynamic ecosystem where gameplay, in-game assets, and asset trading activities intertwine to create value and opportunity. Unlike traditional web3 gaming models that require players to spend money to play and win, Libera benefits the players to receive rewards like special items or game currency when they achieve goals or perform well. The special items are mostly from enemy drops after defeating them, by completing quests or reaching certain levels. These rewards serve as incentives, making the gaming experience more engaging and rewarding.
Create, Buy, List digital items
Players can use these rewards in various ways: to create better items within the game or to trade them as digital assets as NFT on a marketplace. These special items like; skins, rare enemies, weapons, maps etc. are intentionally made rare, ensuring that they hold their value over time. When players buy these items from the marketplace in order to level up their game, they can use those items in the game. However, once those items or the NFT are imported into the game, then it is burned from the player holdings in the wallet, ensuring that it cannot be reused and maintaining its scarcity.
Play to Earn System
Libera's Play to Earn system is underpinned by two key contracts: the main $LIB deposit contract and the game contract. Together, they ensure that ticket purchases and rewards are managed effectively and securely.
Here’s a detailed breakdown of how the Play to Earn system works:
Main $LIB deposit contract When a player purchases a ticket, their $LIB tokens are deposited into the main contract, which handles all financial transactions related to the tournament.
Game-specific reusable contracts Each game has its own reusable contract, which manages the tournament's specific operations and ensures smooth gameplay. These contracts are built to be efficient and reusable across multiple games, creating flexibility within the ecosystem.
Tickets are purchased using $LIB tokens Tickets serve as the gateway to tournaments, and all tickets are bought using $LIB, the native token of the Libera ecosystem. This centralization of the $LIB token ensures that the ecosystem remains interconnected.
Manual selection of winners After each tournament, the winners are selected manually, ensuring fairness in prize distribution. This step allows for an additional layer of oversight before rewards are allocated.
Merkle-based reward distribution A merkle tree system is used to ensure transparency and fairness when distributing rewards to the winners. The winners’ merkle is added to the game contract, enabling them to claim their rewards seamlessly.
Rewards in $LIB tokens Once the winners are finalized, rewards in $LIB tokens are added to the contract of the respective game. This system ensures that the prize pool is managed securely and transparently.
This system helps to keep the game's economy stable. By limiting the availability of valuable items and ensuring that they are consumed upon use, the game's developers prevent the overabundance of valuable assets and maintain the value of in-game currency.
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