Exploring Genopets: Move to Earn without sneakers
After StepN was launched, everyone knew about the M2E trend. The Move to Earn combines the best moves-to-play mechanics proven by Nintendo Wii and Pokemon Go with mobile games and P2E. But much fewer peoples know that the project Genopets established the Move2Earn trend before StepN.
Genopets offer a different concept of using M2E mechanics and another economics model, so it is worth exploring Genopets to find a new M2E promises case and possible replacement of StepN.
About Genopets
Genopets is the first free NFT game that allows players to earn and enjoy an active lifestyle. Built on Solana, Genopets integrates daily activities in real life with the Play-to-Earn blockchain economy. This model will enable people to monetize their RL activity and turn it into a part of the gameplay.
The main gameplay element is Genopet - a procedurally generated NFT totem animal that players need to create, grow, upgrade, and use to fight with other players. Creating Genopet involves individual actions of the player to make a unique and personalized totem animal.
The game's primary goal is to grow and boost Genopet. To make that, a player must walk, run or do other activities and convert each step into his Genopet upgrades. The higher Genopet's level, the rarer and the more valued it as an NFT asset.
Activities
The main goal is to grow your Genopet. But this does not mean that player can only count his steps and watch his pet grow. Developers offer a few key gameplay elements that turn Genopets into a full-fledged P2E with a complex economy:
PVP-BATTLES: In Genopets, players can clash their pets into a series of arena mini-games. The winners receive a loot of defeated opponents.
CRYSTALS: 5,700 crystals of 5 elements (water, fire, wood, metal, and earth). The total crystals capitalization at current prices - is $4,500,000. Crystals come in many shapes, and they need to create Habitat and the appearance of the Genopet: adding skills, improving.
LANDS (HABITATS): To turn funny spent time into a profitable investment, players need Land. The Land is a Genopet habitat that allows earning $KI tokens for in-game quests. The Land also generates crystals. Only 4k lands avilalble for game.
The Lands is divided into 3 levels (the higher the level, the more crystals they generate). One player can own no more than 3 lands. You can buy Habitat on the marketplace or create by using $GENE, $KI, and crystals.
Players can get their Genopet for free, fight, complete tasks and receive items. But the free player is able to earn only by reselling the upgraded Genopet. All other earning possibilities opened only for Habitat owners. Land help increases XP points, generate crystals and earns daily $KI. Besides, you can just rent it out or sale.
If the player can't pay for benefits, he can still earn experience points (XP) in daily tasks: jogging, dancing, cycling, and more. XP increases Genopet's level and rarity, increasing its value and price.
Tokens and in-game economy
Genopets use 6 different tokens to create a full-fledged in-game economy:
$KI - is the primary in-game token that landowners can get. Users need $KI to upgrade their Genopet, create crystals or new Habitats, and fight other players.
$GENE - governance and tradable token. $GENE holders can vote to change in-game features, get VIP access to new content, and earn by staking. The few exchanges already listed the $GENE.
Genopet NFT - players can create a free one or pay and get an upgraded and powerful Genopet.
XP - is the only in-game token. Players can get it as a reward for their activities and use it to improve their Genopet.
Habitat NFT - the Genopets' Lands. The Land generates in-game resources. Also, the owner can make a profit by renting/selling it.
Crystals - are non-fungible tokens created by burning $GENE and $KI. It also needs to upgrade Genopet.
$GENE token distribution
Team and partners
In 2021 Genopets closed the seed round with an $8.3M investment. There participated dozens of funds, including Konvoy Ventures (an investor and member of the board of Axie Infinity), Pantera Capital, Alameda Research, Solana Capital, Animoca Brands, and others.
The core team members are experienced and represented on the official site:
Weakness and strengthens
Active social pages - 166K Followers on Twitter and 159K on Discord. Also, there is a regular posting, and 90% of followers are real.
Beta Test of Product - the beta test is open for now and available for a wide range of players: the owners of Genopets or lands, $GENE stakers, and DNA Discord followers.
Strong investors - there is a many Tier 1 funds in the list of investors, including such titans as Animoca, Alameda, and Pantera.
The original concept - the developers came up with how to use M2E without obsessing about sports. The idea of Genopets is more complex and exciting than StepN.
No-deadlines Roadmap - It is challenging to understand how long the development will go and whether the team holds at least internal deadlines.
Powerful competitor - let's not forget that the king of M2E is still StepN. And as long as the project will generate profit for the players, it will hold the top. However, Genopets still offers a slightly different concept.
Our conclusion
Genopets is a promising project with an almost complete product, active social media, and powerful partners. Projects have rethought the M2E mechanics and created a successful use case for it. Genopets have high chances of becoming the next M2E flagman with all it.
That is a project you need to follow and participate in, even if you are just a gamer.
Conceivably DeLa Capital will negotiate with Genopet's team or interact with the startups in another way. We will inform you about our decisions and actions on social networks, so Follow us.
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