My Neighbor Alice: A beginner's guide to the play-to-earn crypto game
What is My Neighbor Alice crypto?
My Neighbor Alice is a one-of-a-kind blockchain-based game where non-crypto native players collaborate to construct, create and play. It's a game that makes blockchain features accessible and enjoyable for players who are unfamiliar with nonfungible tokens (NFTs). But who is behind My Neighbor Alice?
A game studio called Antler Interactive created My Neighbor Alice, taking inspiration from games like Animal Crossing and Minecraft. Anna Norrevik is the CEO of the game studio. My Neighbor Alice's goal is to teach millions of players blockchain through pleasant stories and appealing monetization options. Multiple users can create their virtual worlds with My Neighbor Alice.
Additionally, multiple players can connect with their neighbors, participate in fun daily activities and earn rewards. To become a part of the My Neighbor Alice world, one needs to purchase land and engage in activities like gathering insects, fishing, farming and beekeeping. The players’ status in the game is upgraded through activities, shared missions and competitions.
Different in-game NFTs of buildings, plants, trees, flowers and animals can be used to design and decorate players' territories. Players may also use novel in-game tools like a Game Builder and an NFT Creator to customize their game experience to their liking and play around with the landscape.
An in-game marketplace lets players buy and sell different game items and NFTs. Furthermore, players can personalize their game characters using avatars and meet each other in an on-chain forum. A progressive reputation system in the game encourages players to improve their status to gain access to exclusive events and NFTs.
This article will discuss: How much does it cost to buy land in My Neighbor Alice? Should you invest in My Neighbor Alice? And how to buy the My Neighbor Alice coin?
How does My Neighbor Alice work?
My Neighbor Alice enhances the entire gaming experience by allowing players to engage, communicate and mingle with other users and players. It's an open-world game, allowing players to explore Alice's environment indefinitely, and create their avatars, with which players can interact with others.
Alice's world is made up of many virtual islands that are divided into My Neighbor Alice land plots. NFTs symbolize these land plots, which users may use to customize their in-game property, change the topography, construct a new patch, and decorate. In addition, the game contains a storyline through which players advance as they perform tasks.
The amount of land that players can purchase is limited, which helps to regulate the value of NFTs. The rarity and scarcity of the assets they represent affect the price and value of NFTs in this play-to-earn crypto game.
Users can also create assets like veggies, houses, cosmetic items and define their supply requirements, but the game is free to play. However, users must pay transaction fees when purchasing and selling nonfungible assets such as land.
Users can also utilize the lending system and borrow NFTs and play the game. Lenders can earn a profit based on the loans they make, allowing them to supplement their income in Alice's gameplay.
The native token of the My Neighbor Alice game, the Alice token allows players to buy land, swap NFTs and use particular DeFi products like buyback, collateralization and staking.
What makes My Neighbor Alice unique?
My Neighbor Alice caters to two distinct audiences — gamers and DeFi aficionados — making it a one-of-a-kind initiative in terms of the game's use cases. The technology employed to construct its ecosystem includes a multiplayer builder game, blockchain-based in-game assets, staking and a loan economy for NFTs. This is what sets My Neighbor Alice apart from other games like Decentraland or trending metaverse platforms like The Sandbox.
Blockchain-based in-game assets
The game has its in-game currency, the ALICE token, which is reflected 1:1 on the blockchain. The ALICE token is an Ethereum-based ERC-20 token, protected by a large proof-of-work (POW) mining network, which comprises thousands of nodes cooperating to keep the blockchain safe.
Within the world of Alice, the token can be used to receive staking rewards, buy game things, and take part in the game's decentralized governance system (powered by Chromunity).
Users will be able to stake their tokens to receive a passive income, with the game is designed to give the most significant staking yields in the early days of the game. The staking rewards will gradually decline as new features are launched and the game matures.
Lending and borrowing
My Neighbor Alice makes a trustless lending system for game players with smart contracts capability, which ensures that tokens will be given back to the lenders when the NFT rental period ends.
Players can also purchase and sell ALICE tokens and NFTs directly in-game or on other external NFT marketplaces, such as Treasureland (on multiple blockchains).
My Neighbor Alice also has a novel feature in which a portion of the purchase price of each NFT is deposited into a specific account associated with the NFT. For example, if someone buys an NFT for 1 BTC, 10% of that amount is locked in the NFT account and can be reclaimed later if the NFT is burned.
NFTs can also be used as collateral in DeFi lending applications because of their intrinsic worth, ensuring that they always maintain a predetermined minimum value.
What gives My Neighbor Alice value?
The technical capabilities of My Neighbor Alice determine its value. Furthermore, the technology used to develop the project and its features and use cases also drive the game's value. These factors determine the project's inherent worth and its ability to become a mainstream game with DeFi features and technologies that create a trustless lending economy.
Because cryptocurrencies are prone to frequent swings driven by volatility, the intrinsic value of ALICE does not always equal the market value. Instead, the trends within and momentum of the market drive the value of the My Neighbor Alice token.
The project appeals to both blockchain-based gamers and DeFi enthusiasts, and with the hike in its adoption rate, the value of ALICE will rise too. Creating NFTs for in-game assets also provides more relevance to My Neighbor Alice as a novel NFTs-based game.
What can I do with ALICE tokens?
The My Neighbor Alice token can be used for various purposes, as listed below:
Purchase game items: ALICE is an in-game token that you may use to buy in-game products and NFTs for avatars in the marketplace.
Play to earn: ALICE tokens can be earned by participating in various in-game events, such as tournaments.
Staking rewards: The ALICE token can be used to gain staking incentives in the system. It is intended to entice users to hold tokens and contribute to the ecosystem.
Decentralized governance: Token holders may be able to participate in the decentralized governance process via the Community Council that determines how earnings are spent, as well as game development and expansion.
How do I earn money from My Neighbor Alice?
As players manage the My Neighbor Alice's economy, the interaction between them creates a lot of earning opportunities, as explained below.
Trade your animals
Animals are unique NFTs with the power to build new things out of existing things. Animals are frequently more desirable in the marketplace and can even become one-of-a-kind commodities because each animal has unique breeding talents, some of which are more unusual than others.
For example, after harvesting organic cotton on your property, some animals will assist you in spinning the cotton into yarn. In contrast, other animals can weave the yarn into cloth, and some species can dye the fabric in their preferred colors. These materials can be sold at the market or used to make one-of-a-kind outfits!
On the other hand, you may desire to get into the realm of pet ownership after earning enough money as a traveling tradesman. You can own animals in the game and keep them on land you rent from another player. You can also outsource your skills to other players while not utilizing your animals.
Complete other players’ jobs
You might be able to make your first money by applying for jobs advertised by landowners if you don't own animals or land yet. They may require your assistance in tending to their crops or caring for their animals.
Animals want water, food, love and attention, and land requires watering and care — this is where you can step in as a carer for animals and land. Land that is well-kept yields greater crops, and well-kept animals are much better at reproducing, making their assistance important to the landowner.
It's an amazing voyage to travel around the numerous countries of the various players; you'll meet new people and see their farms, creations, animals and furniture.
If you're lucky, you might discover that certain items are less expensive in one location than in another. This dynamic allows you to play the role of a trader, buying and selling goods all over the world for a profit!
Farming (grow crops or rent your land)
All farming takes place on land represented by NFTs and can be purchased through lotteries. Planting and growing is a pleasurable experience. You can cultivate crops and sell them to other players if you're one of the lucky ones who got some land!
Make sure your plants are well-watered to earn money by selling healthy crops. If all of this sounds like too much labor, you can just rent your land to another person in the game and profit from the rental income.
Trade exclusive NFTs
Hats and dresses are one-of-a-kind products that gamers can create to show their style. Because each piece of apparel you make is a unique NFT, you can sell it to other players. The more unique and intriguing a design is, the higher its market value will be!
What is an Alice land lottery?
The My Neighbor Alice land lottery is the first opportunity to purchase land in the game. But, what's the point of a lottery? Alice wants to offer everyone — not just the highest bidder —an equal chance to buy a plot of land at this first auction.
Three lotteries occurred in the past, which were finished on June 12, 2021, Aug. 12, 2021, and Oct. 11, 2021, respectively. During the first lottery, 29,010,516 tickets were issued and stakers won 927 plots.
In contrast, 36,584,066 tickets were issued against 1,000 plots won by the stakers during the second lottery. During the third land sale lottery, 45,860,693 tickets were issued and stakers 1,000 won plots.
To participate in the lottery event, ensure that you have a basic knowledge of NFTs, understand the land sale lottery dashboard, own a MetaMask wallet, understand how to use it and are familiar with Chromia and the CHR token. Last but not least, you should understand the My Neighbor Alice game and the ALICE token.
How much does the My Neighbor Alice game cost?
My Neighbor Alice is an entirely free game; however, you will be able to customize your avatars and virtual plots by purchasing numerous items in-game.
System requirements include an operating system that is Windows 7 or higher. Additionally, your PC or laptop must support a video card with 1024MB of video random access memory followed by a storage space of 4 GB.
The game will be available through both standard gaming platforms and the Alice official website. Nonetheless, it is important to note that the full game is set to be released in Spring 2022. For those who wish to go beyond gaming and monetize their experience, they can utilize elements of gamified finance and blockchain in addition to the exciting narrative.
Does My Neighbor Alice have a decentralized autonomous organization (DAO)?
My Neighbor Alice is built on the Chromia network, which combines the immutability and security elements of a blockchain with the data storage and handling efficiency of a relational database.
Chromia Originals, the blockchain's NFT standard, are more data-rich than regular NFTs and may be used as both native assets on the Chromia chain and as an enhancement layer on Ethereum.
The game will be controlled by the Community Council, a DAO that establishes a democracy in which players can control which source code is run.
How do I buy My Neighbor Alice?
You need to look for an exchange that supports both fiat and cryptocurrencies. Choose an exchange that supports ALICE, is secure, supports a variety of payment methods and is inexpensive in terms of fees. Binance (except USA residents), KuCoin, Gate.io, Huobi global, and WazirX (India only) are among the exchanges that support ALICE tokens.
The next step is to create an account if you already don't have one. Then deposit funds via a debit or credit card, bank transfer, or cryptocurrency from a crypto wallet to buy My Neighbor Alice.
After you've finished buying My Neighbor Alice, look for the best wallet in which to keep ALICE.
How to store ALICE?
ALICE can be traded and stored on any Ethereum-compatible exchanges and wallets. Offline storage is offered by hardware wallets or cold wallets like Ledger or Trezor. Software wallets offer a different solution that is both free and simple to use. They might be custodial or non-custodial and can be downloaded as smartphone or desktop apps.
With custodial wallets, the service provider manages and backs up your private keys on your behalf. However, custodial wallets are more prone to crypto heists. Non-custodial wallets hold private keys on your device using security components and are better suited to users with fewer ALICE or who are more inexperienced.
Online wallets, often known as online wallets, are also free and simple to use and can be accessed from various devices using a web browser. On the other hand, hot wallets are regarded as risky and can be less secure than hardware or software alternatives.
MetaMask, a browser extension that enables Ethereum transactions on ordinary websites and supports Ethereum adoption by bridging the gap between Ethereum user interfaces and ordinary web user interfaces, can also be used, especially when participating in an ALICE lottery event.
The road ahead
One of the most appealing applications of blockchain technology is the combination of smart contracts, NFTs and fun elements in the form of games. It's a huge, untapped market that is just in the beginner phase as of now.
My Neighbor Alice could become one of the most popular blockchain-based initiatives globally if the current trend of growing NFT popularity continues. So, is ALICE coin a good investment?
Many NFT experts feel that ALICE is a smart investment and can yield considerable long-term gains since the My Neighbor Alice video game is unique among blockchain-based games that leverage NFTs.
However, as crypto markets are more volatile, you should always use caution and do your research before investing in any assets.