Apr 27, 2023 (SeoXnewsWire) — A multiplatform videogame of epic ambitions, with highly customizable, blockchain-based, Cannabis-themed digital pets that have their own distinct personalities and aesthetics, CryptoChronic reinvents Pokémon and Tamagotchi for a new market demographic. Players continuously interact with their “buddies” by collecting, breeding, nurturing, and trading them as well as battling in multiplayer “Smoke-Offs”. By achieving status and top rankings, gaining experience points, receiving valuable rewards and bonus items, players can increase the value of their collections.
But CryptoChronic prides itself on being more than just a game. The team at Chronic Games strongly believes they can serve a purpose beyond entertainment, and that they can provide solutions to real, heartfelt challenges to be overcome. NFTs and GameFi, like CryptoChronic, are also born with a purpose. Their aim was to apply blockchain technology towards disrupting the digital collectibles market and resolving the endemic issues that plague its stakeholders. Notwithstanding the shortcomings, the potential market is massive: Pokémon, for example, is the best-selling media franchise of all time, grossing more than USD$ 90 billion in its lifetime. The skins market on Steam alone generates volumes of tens of billions of Dollars per annum. Yet, digital collectibles fail in the provision and preservation of value to collectors.
For example, their centralization implies that when digital collectibles are generated, there is nothing stopping the originator from simply creating more of the most rare or popular ones. When this happens, it diminishes the assets’ value through inflation, potentially making them worthless. Moreover, there have been several cases of originators manipulating the ecosystem and larger economy. In addition, these markets imply “issuer risk”, just like financial products: if a digital collectible is created, and its creator ceases to exist, so does the collectible. Hence, in a centralized system, the existence of a digital collectible is dependent upon the ongoing perseverance of the generating authority. Moreover, traditional gaming solutions for generating liquidity are very few and are normally executed through untransparent and costly intermediaries. The only way to monetize Steam skins, for example, is by selling the underlying account, which is completely unregulated, and borderline prohibited. This, therefore, is a massive potential market in need of new rules and protocols and primed for disruption.
As testimony to how close to the heart these issues are, the industry that has emerged in solving them has done extremely well, growing exponentially, and raising billions. These challenges have been arguably overcome by a variety of market players in the NFT and GameFi space, including CryptoChronic, as demonstrated by the massive scale they have reached in a relatively short amount of time. However, this emerging crypto gaming space has not appropriately provided a low-cost solution to attracting traditional gamers. Many other problems have emerged, undermining the strength and credibility of the sector, which still struggles to meet expectations. To be able to survive, the industry must efficiently provide a solution that the mainstream will effectively adopt. Currently, broad general confusion and mistrust of digital assets persists among traditional gamers. Moreover, the gaming providers have not sufficiently serviced adult-themed segments of the total potential market, specifically under-targeting the cannabis related audience. Chronic Games is here to change that! They have identified 3 institutional challenges endemic to the Blockchain gaming industry that hinder mainstream adoption and long-term stickiness that, therefore, present significant opportunity for disruption and hence market share.
Firstly, Gas fees, platform commissions, and market contingencies imply massive costs to start playing. CryptoChronic, thanks to its proprietary private chain, embraces and adopts the Freemium model to eliminate the friction associated with the passthrough of gas fees and other minting costs. Moreover, it posits a clearer and more transparent model for the users’ return on their investments to attract a larger segment of the gaming public who can then more easily understand and justify the costs associated with playing crypto games. Second, the current offer entails limited provision and preservation of value. To provide long-term appreciation and realized gains to token-holders, NFT and crypto economies must incentivize demand and curb overall inflation. The CryptoChronic ecosystem maximizes the former, while minimizing the latter’s forces. Moreover, the total accessible market is limited relative to actual or perceived built-in NFT functionality and, therefore, utility. Chronic Games instead has implemented a system in which utility is indeed provided through functionality, adding value at each step by game design: breeding unlocks desirable and valuable traits, while nurturing and leveling-up improves their stats and therefore the overall value of the NFTs. Better stats imply more battle efficacy, which in turn means more EXP and Reputation gained by winning battles, until the gamer tops-up by minting their Chronics on the public chain whenever ready to monetize.
As a tangible example of its commitment towards a democratic, fair, transparent, and sustainable model, CryptoChronic strives to be anything but pay to win. No single Chronic is in absolute terms better than another, therefore: each can be invaluable in a particular situation. Moreover, bonuses and rarity have little effect on the actual effectiveness of a Chronic in Battle. Therefore, the battle mechanics and judging system encourage players to maintain a diverse collection of Chronics in order to be prepared for a wide-ranging array of potential battle parameters and it does not simply prefer the strongest, highest-level ones and players. Similarly, rewards, such as Tokes, resources, skins, rare items, paraphernalia, and other ancillary items are rewarded in greater proportion to winning lower-ranked players than to winning higher-ranked players.
Despite the fact that Crypto gaming has seen a massive influx of capital in a very short period of time, it’s clear that mainstream gamers have been slow to adopt crypto gaming en-masse. This reluctance indicates that a better model is required in order to engage the broader gaming public. With CryptoChronic specialized, adult, cannabis theme and significantly reduced entry friction for casual gamers combined with a superior blockchain and internal market dynamics, all to the benefit of the player, Chronic Games is primed to provide a singular user experience, return on investment, and overall gamer satisfaction.
Name: Marco Prinzi
Email: Send Email (https://send.releasecontact.com/89095315)
Organization: Chronic Games Sarl