Many cryptocurrency games are struggling to compete with traditional games that exist on consoles and smartphones. Even if they rise to fame, their popularity doesn’t last, and gamers quickly move on to what’s next. Currently, more than 2.3 billion gamers exist worldwide, illustrating the enormous impact players can have on the future of this market and its growth. To create a game ecosystem that will stand the test of time, economics that will continue to evolve and grow with players is needed. As a result, future-oriented games are using carefully crafted game economics, assets and tokens to help make them future-proof.
CropBytes is focused on creating a game that is a step up from what is available to players today. Players can grow their crypto by playing in the game economy and trading their assets in the game market. They can also use them in other mini-games within the CropBytes ecosystem.
Siddharth Menon, the COO of WazirX and Advisor for CropBytes, shares, “I believe crypto games are the next big thing.” The COO continues, “CropBytes is based on farming, which is easy for everyone to understand and has strong economics,” which are necessary to sustain the game in the long run.”
Mooning NFT game in the bear market
Taking a look through history, 2018 marked the year for the rise of NFT games like CryptoKitties and My Crypto Heroes. Unfortunately, at this time, many developers focused solely on player earnings, with underwhelming gameplay. CropBytes entered the gaming market around the same time and focused on the gameplay. They built an in-game economy that was supported by an evolutionary trading system. The game has since grown through a complete market cycle, surviving the most recent bear market. This exposure gives the game an edge over others as players have confidence that they can continue to thrive in the CropBytes ecosystem and grow their crypto holdings even amidst the fluctuations in the market.
CropBytes has recently closed its seed round funding, which has brought on several industry leaders as investors, including Ex Network Capital and Old Fashion Research. Additionally, several strategic partners have joined the team, including Siddharth Menon, co-founder and COO of WazirX, Tamar, growth at Solana, and Sandeep Nailwal, co-founder and COO at Polygon (MATIC).
Eric Su, the founder of Exnetwork Capital, shares their excitement about investing in the project, “CropBytes has the ingredients of a resilient team and a loyal player base that we are honored to back. Their farming simulation game, which is inspired by Farmville, is poised to become big with its next evolution.
Their game is different from the many testosterone-heavy p2e games out there. Their uniqueness will welcome a different kind of demographic into the crypto world. We are delighted to invest and back CropBytes for the long term at Exnetwork Capital.”
Within the game, users must maintain a balanced farm and trade often to grow their business. As a result, any assets like animals, extracts, harvests or buildings can be traded between players, with an economy run by players. Among unique assets are Superheroes, a rare breed of NFTs that can further enhance a player’s potential in the game. Their abilities include boosting a farm’s output, which gives players an added advantage in gameplay. The team has since announced a new generation of Superheros that will be used in player-versus-player battles. This will be available soon.
The CropBytes ecosystem is set up as a virtual world where anyone can purchase, sell or own assets. The game combines farming, strategy and business in a world run by crypto. After downloading the app, users can start farming, produce goods and later visit the game marketplace to sell their products to other players for profit. After earning enough extracts from assets, users can convert them to game coins (GC), which can be used to purchase NFTs and other exclusive digital game assets.
A look at the tokenomics
While the game began using Tron (TRX), the company later decided to launch its own token CBX. Their strategy differed greatly from other games since their focus was on building a well-rounded product first before launching a token. Now, in alignment with growing concepts of the metaverse and interoperability, CropBytes is looking into opportunities to work with more games and marketplaces to ensure in-game assets can be traded across multiple games.
To date, CropBytes has reached over 250k signups, 100K downloads on the Play Store and a trading volume of over 8 million TRX a month.
As the team’s seed funding has come to a close, CropBytes has now onboarded several strategic partners, providing the platform with the setup needed to move on-chain and grow their community with the launch of the CBX token.
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