Economic Optimizations

Web3 gaming is about building self-sustaining virtual economies that community members can trust, collectively operate, own, and eventually build on top of. The aim is to create a world where players can gain real value, ownership and can have defined jobs & responsibilities.

To achieve this, it is important to make sure that the core economic loops in a game are resilient and built for the long term.

Core game loop improvements in CropBytes

Know the changes planned in the CropBytes economy that will increase use cases of assets in turn growing their intrinsic value.

As part of economic optimizations, POW has found new use cases which will boost its value and also the value of Water, Corn Feed, Extracts, etc. Power will now be utilized in assets that have been producing new assets without any input.

This closes open economic loops and prevents hyperinflation of certain assets.

🏭For Mill Owners: Power will be required to run the feed mills. As grinding happens in the mill, power will be deducted automatically.

Mill owners will need to store power to run their services without interruption. The mill owner will also receive email updates about their Power reserves. If mill owners do not have power reserves then they cannot claim the grinding fee. In that case, the mills will continue to operate and the grinding fee will be collected and stored by CropBytes for any future uses.

💧For Well Owners: Power will be required to generate water. To start with, this will be a small amount of power that will be used to harvest water from the wells.

So far, water was inflationary. But even with over-supply, it still holds high value and has a stable market. The new system will further strengthen the asset value.

Along with the updates, the storage capacity of Level 1 Well, and Lake will be increased. For the Small Well, the time required to produce 1 Water will be reduced from 2.5 Hrs to 2 Hrs.

New Storage Config:
Small Well – 10 Water (1 Water / 2 hours)
Level 1 Well – 18 Water (1 Water / 1 hour)
Lake House – 32 Water (3 Water / 2 hours)

🥕For Feed Producers: The grinding fee to generate animal feed will increase.

Since more input will be required to generate crops, the fee to craft it into animal feed will also go up. In turn, this will check the supply of COF and increase its value. This also helps the mill owners who will be required to keep power reserves.

Maintenance for Power assets: Going with the same logic for Water production, Power in CropBytes was also being produced without any inputs. Solar Panels and Wind Turbines will now require a maintenance fee paid through CBX to generate Power.

These economic changes will make extracts and utilities more valuable. More assets like Superhero Breed Feed can be introduced that are crafted using animal extracts.

This scenario is similar to when we announced water consumption for animal feeding. Although there was initial resistance from farmers, in the long term the motive and importance of that was realised.

🛒New Starter Pack assets: We are very close to releasing new assets in the starter pack bundles. The new starter pack is aimed to help market liquidity for essential assets. Stay tuned to our announcement channels for updates. 

📊Asset supply: Before CBX, the in-game currency was GC(Game Coins). GC followed a deflationary supply curve which made it immensely valuable over the years. The same logic applies to the CBX supply curve. Since CropBytes’ economy mainly consists of FTs, a similar deflationary supply curve is applicable to these assets. In Q3 2022, you will be able to see the supply projections for all assets. 

🤝Referral activity changes: Our existing referral program has been highly successful in taking CropBytes out to the world. We are now improving the program to make it more exciting. Post the update, the referral activity will change from feeding animals to crop harvests. Stay tuned for more information. 

🪲Bug Fixes: You may have experienced or heard from other farmers about some bugs that have been affecting the day-to-day farming activities. This is due to server scaling issues due to new player onboarding. Within the next couple of days, we will be all ready with a whole new game architecture for CropBytes which will make it big-free and ready for scaling to 10x active players and set the stage for the new feature launches.

⛏️Service Economy: Web3 is improving the quality and experience of digital environments. As virtual spaces develop, there will be an increased opportunity for decentralized labour markets. This will enable millions to be employed in the metaverse. 

CropBytes will spearhead this revolution in web3 gaming through the launch of ‘Service Economy’. This new feature will enable users to earn an income without investing in assets. You can expect the launch of the service economy by Q3 2022. 

🪙Tokenization of assets: Before the launch of ‘Service Economy’ we will take the game assets on-chain. This will be an important step towards interoperability of CropBytes assets and to increase transparency.

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