With the Play2Earn model becoming widely adopted within the Web3 gaming space, users are becoming more acquainted with the idea of performing tasks in a gamified setting for monetary incentives as an alternative to traditional work.
The Play2Earn model burst into the crypto scene with the hyperbolic growth of Axie Infinity, which generated $1.3 billion in revenue in 2021 and recently broke $4 billion in sales volume. The Play2Earn hype generated from this breakout cascaded down to different sectors, all of which began to implement economic models where users can earn based on their invested time.
These days, the term ‘Play2Earn’ has become a staple in metaverse projects. Developers incorporate the model to incentivize users to better engage with their product. Is it a Ponzi? Is it a zero-sum game? The economics are not the focus of this article.
What we are interested in is the immersion factor.
While Web3 allows for gaming to evolve and reach the next level by creating new standards of total asset ownership and decentralized structures, a purely digitalized experience can make the process of playing-to-earn feel like a grind.
But they are making money, why does it matter?
When people play a game solely to make money and not for the actual gameplay, there is no sustainability starting from the player base. Player loyalty will be non-existent, with users ready to jump ship if a better alternative exists or if market conditions are unfavorable. And with no players, the game is obsolete. This is why it is important to create a gamified model that is immersive and draws in a high level of user engagement.
The elements required to achieve better immersion and engagement are widely being explored within the metaverse space. There are experimentations with various reward structures inspired by Play2Earn, including Move2Earn and Learn2Earn.
The key question: How will reBASE bring metaverse interactions to life?
The metaverse reality will be so much more than just a digital experience. Think ‘Ready Player One’, total immersion in an alternate reality that is grounded by your own bodily interactions. This is a fundamental idea that reBASE is working to create. While the endgame for the reBASE is still a while away, there will always be steps along the journey that form important building blocks.
And one of these building blocks is the reBASE Find2Earn Model.
reBASE’s core mechanism of geolocation technology essentially layers the virtual world over the real world. Combined with the application of AR, reBASE is able to gamify the NFT minting experience into an immersive and engaging form of a treasure hunt. Different NFTs will be limited to different real world locations. This means that reBASE users will need to physically move around in the real world, locating and tracking down the NFTs they wish to mint. Only if they are able to spot the NFT through their AR lens is when they can successfully mint and collect the NFT. This is reBASE’s Find2Earn model.
This Find2Earn gamification of reBASE’s geo-based NFTs is important on THREE different levels:
The Find2Earn model simulates user enjoyment in not only the incentives being earned, but also in the process of earning those incentives. reBASE users are physically searching the real world to collect NFTs that can be seen and interacted with outside of the computer screen. The discovery factor creates an exciting experience, brought to the next level by bringing virtual objects to life.
2. Social Interaction
Find2Earn is a catalyst for all forms of social interaction. Physical and digital, competitive and cooperative, new and familiar. People will be connected with each other in one way or another. It will build a community, a social networking system that will become a lifestyle. The concept of social interaction is at the heart of reBASE’s philosophy, and Find2Earn is a key enabler for this.
3. Low Barrier to Entry
The Find2Earn model is a simple yet gratifying one. There are no pay-to-win elements or high skill level requirements in order to participate. The conditions are fair and accessible to anyone.
With the Find2Earn model, reBASE aims to make the metaverse experience come to life, where users immerse themselves in a reality that combines both the real and virtual worlds. By integrating NFTs into a physical setting, reBASE’s Find2Earn model will be a new standard for real world applications of Web3 metaverses.
Get ready, the reBASE Find2Earn model is coming real soon…
reBASE Official Website: rebase.gg
reBASE LAND: app.rebase.gg