NFT UTILITY IN THE BITVERSE
In case you haven’t seen it yet, we’ve shared a blog dedicated to NFT games. In it, we explain what an NFT is and how they work in a video game, like the Bitverse.
When investing in an NFT project, it’s good to think about the utility of that NFT. What can you do with an NFT in a video game? What benefits does owning an NFT give me? How does having an NFT impact the game I’m playing? All that and more will be covered in this blog!
“Utility” can refer to a lot of things when it comes to NFTs. When we think of NFTs, our first thought is a digital asset whose value is determined by its rarity or its value of the investment. But in gaming, NFT utility can mean many things.
In-Game Utility
One of the main uses of an NFT in the Bitverse is that you can use it directly in our video games. Your NFT can be used as your digital avatar within games like Bit Heroes Quest, Bit Heroes Arena, or Bit Heroes Runner.
Before web3, Bit Heroes characters were created in-game with the character selection tool. With Bitverse Heroes, your NFT is your character token in the game.
Bitverse Heroes have different rarities, as expressed in their different attributes. Horns or hats; cool costumes or different eye colors. Different attributes are harder to find than others, creating a sense of value by rarity.
But cosmetics aren’t the only thing Bitverse Heroes offer.
Cross-Game Metaverse Utility
The Bitverse is not just one game, but a series of games, all based on the popular 8-bit dungeon crawler, Bit Heroes Quest. Fans of the franchise will be able to use their Bitverse Heroes in every game within the Bitverse. This November, we plan to launch two new games — Bit Heroes Arena & Bit Heroes Runner.
Owning a Bitverse Hero allows you to move your unique NFT across all games in the Bitverse! By using the Layer 2 technology available in your Bitverse inventory, transferring your Hero from game to game is just a matter of clicks!
Progress & Marketplace Utility
All the progress that you manage to achieve in each of the Bitverse games is stored on the NFT, meaning an endless number of possibilities for improving your Hero stats. That way, the more you play, the greater opportunities to grow your inventory, which would intrinsically increase its value.
Additionally, if you ever decide that you want to sell your Hero, that progress value is attractive to someone looking to get an edge in the Bitverse games.
The more you play, the better your Hero becomes, and the more valuable your Hero has!
Since you own the Hero, your progress in the games becomes a selling point to anyone looking to buy your Hero from you.
Play & Own Utility
In 2023 the Bitverse will launch a $BPXL token. Once we develop this token, we plan on implementing rewards just for playing your favorite games.
$BPXL will function as a meta hard currency (more commonly known as gems in F2P games) across all Bitverse titles.
Individuals will be able to use it to directly purchase certain elements or to convert their $BPXL directly to gems in each game. The conversion rate will vary based on the valuation of $BPXL, though we will ensure a minimum floor of 1:1.
We plan to use $BPXL as rewards for the players of the Bitverse in the following ways:
- Bitverse Season Pass
- Daily Missions
- Regular In-Game Events
- Exclusive Token Events
- Fusing
- 1v1 Bets
- First Run / Victory bonuses across all games
- $BPXL drops in Bit Heroes Runner
Staking $BPXL will allow players to vote on and even submit token-related game proposals via decentralized governance.
In this same topic, we wanted to eradicate the P2E terminology and introduce P&O, where you own your Bitverse hero, and playing with it can give you rewards in the future.
DAO
A DAO, or “Decentralized Autonomous Organization,” is a community-led entity with no central authority. In the next phases of the Bitverse, NFT holders will have the opportunity to participate in a DAO which will give players power over future decisions made regarding the project.
Perks & Rewards
In addition to cosmetics and in-game functionality, it’s also incredibly important to point out the perks of ownership.
Simpy owning a Bitverse Hero unlocks certain in-game and out-of-game perks available to you. Higher rarities open doors to even more higher-tier perks, such as discounts on gem purchases, an ad-free experience, in-game events, and special roles in our Community that connect you directly with our development team.
For more details regarding perks, check out this wonderful article for a breakdown, and be sure to read our whitepaper.
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We hope this helps to show that your Bitverse Hero is more than just a pretty picture — it has the opportunity to have real value and use both in the games and out!
If you have any questions about this subject or anything else Bitverse-related, consider joining our Discord.
Bitverse Heroes are available for purchase right now at thebitverse.io
Happy looting, Heroes!
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