Crypto has been facing tough times, and GameFi is in the same boat. A while back, games like Axie Infinity made waves, leading to many "cash grab" games springing up quickly just for fast profits. But now, the money has slowed down, and many of these games have faded away. However, games that were made with care by dedicated teams are still around, but they aren’t very popular and aren't bringing much cash for players but mostly entertainment. This shows that the GameFi market is changing, moving towards valuing well-made games over quick money-making ones.
The recent transition in the GameFi sector isn't just a sudden change; it's a reflection of lessons learned. Investors, once disappointed by the promise of quick returns, have grown. They've seen the risks of games that imitated the structure of Ponzi schemes. In these setups, the early entrants enjoyed hefty profits, often at the expense of later participants. And when these structures began to collapse under their own unsustainability, developers, rather than addressing the issues, would frequently execute a "rug pull" — abruptly shutting down the game and making off with the remaining funds.
This unsustainable model was not only detrimental to players and investors but also destroyed the very essence of gaming. Gaming, in its purest form, is meant to provide an immersive experience, a break from reality, and a chance for players to dive into entertaining worlds. These "cash grab" projects, with their short life spans and deceitful promises, stood in contrast to what gaming traditionally represents. They prioritized profit over player experience, which left many gamers unhappy and investors cautious.
But like any market experiencing rapid growth, a correction was bound to occur. The GameFi market is now undergoing this very correction, moving away from the unsustainable hype and refocusing on the core values of gaming. This shift isn't just a reaction; it's an evolution. It signifies a return to authenticity, where games aim to provide both entertainment value and a fair economic model. It's a sign that the market is maturing, learning from its past missteps, and looking ahead to a more balanced and genuine gaming future.
Now, Big Time comes into this scenario. It’s a well-invested game, but what does it bring to the GameFi market? Can it help change the current state of GameFi? Will it be able to gain popularity and provide returns to players?
As we go deeper into Big Time, these questions arise, opening a discussion on what Big Time can contribute to the changing GameFi landscape. Welcome to an exploration of Big Time, a game that steps in as the GameFi market begins to show signs of growing up.
Game Setting & Narrative
Big Time is like a giant playground where time has all sorts of secrets. Imagine you can jump into different times, like going back to when dinosaurs roamed or forward to when robots rule. Each jump is a new story, a new adventure. It's like being in your favorite storybook, but you get to be the hero.
In the middle of all this fun is the Paradox Corporate. They're like the bosses of time, deciding what happens next. It's exciting because you never know what they will do.
Now, think about the coolest place to meet friends. That's what the town squares in Big Time are like. They're full of other players, all ready to chat, swap items, and team up for adventures.
And guess what? In these squares, there are special doors called Adventure Portals. Each door is a magical entrance to a new place and time. It's like having a secret key to different worlds, each one full of surprises and challenges.
There's also this really special tree, the Tree of Life. It's like a wise old friend who helps you find your way through these adventures. It tells you where to go and what to do next. You're never lost with this tree around.
So, in Big Time, you're not just playing a game. You're hopping into exciting new stories, meeting new friends, and discovering the magic of time. Every moment was designed to be a new, fun adventure.
Think about playing a game of tag, but with a twist. In Big Time, fighting bad guys is like that - you have to be smart and quick. It's not just about hitting the bad guys; you have to think about when to hit them, how to protect yourself from them, and use your special moves at just the right time. It's like a game of chess, but faster and more thrilling.
Now, imagine you're part of a superhero team. In Big Time, you don't fight the bad guys alone. You team up with friends, and everyone has their own superpower. Some might be really fast, others super strong, or maybe someone can cast magic spells. When you all work together and talk about who does what, you can beat the toughest enemies. It's like putting together a puzzle where every piece is a friend with cool powers.
There's also something called 'Attack Chaining' in the game. Think of it as a combo move in a dance. You have to hit your moves one after the other in the right order to make the coolest dance ever. In Big Time, you do this with your attacks. You hit the bad guys in a special sequence, and if you do it right, you do extra damage. It's like knowing the secret cheat code in a video game to unlock a super move.
Character Classes & Progression
In Big Time, players have the option to choose from a variety of character classes. Each class is different, with its own set of abilities, strengths, and weaknesses. It's like selecting a role in a game, where you decide what kind of abilities you want to use, whether it's strength, speed, or magic.
The game also features pocket watches, a unique item that lets players switch between these classes. This means you can change your playstyle whenever you want, trying out different roles and abilities. It adds variety to the game, allowing for a more flexible approach to how you play and strategize.
As players move forward in the game, they can improve their characters. This is done by gaining new skills, better gear, and stronger abilities. It's a gradual process where playing more and exploring the game's world helps your character become more capable and powerful.
In Big Time, there is a system in the game that makes it easy for players to talk to each other and trade items. This helps create a friendly atmosphere where everyone can feel like they're part of a group.
Players also have the option to form teams or join groups, like guilds or clans. This part of the game helps players work together and share goals and resources. It's not just about playing the game; it's about being part of a community where everyone is on an adventure together, exploring and discovering the game's mysteries.
Big Time is developed by a team with notable individuals who have prior experience in the gaming and blockchain sectors. Here are some key members of the team:
Ari Meilich: Ari Meilich, the CEO of Big Time, previously held a position as a Project Lead at Decentraland, which is a decentralized virtual reality platform. His role at Decentraland involved leading a team towards creating a virtual environment where users could purchase, develop, and sell parcels of land. His experience at Decentraland might provide valuable insights into managing a decentralized gaming platform like Big Time.
Matt Tonks: Matt Tonks, the Chief Technology Officer (CTO) of Big Time, has a background in the traditional gaming industry with experience from Electronic Arts (EA), a prominent gaming company known for developing and publishing a wide range of popular games. His tenure at EA might have equipped him with the technical expertise required to manage the technological framework of a complex gaming project like Big Time.
The team's background in both blockchain and traditional gaming could provide a balanced approach towards developing Big Time, ensuring that it appeals to gamers while also integrating blockchain effectively.
Backers and Partners
Big Time has garnered significant support from the crypto community, having raised over $30M with notable backers such as North Island Ventures, Digital Currency Group, OKEx’s Blockdream Ventures, Sam Bankman-Fried’s Alameda Research, USDC builder Circle, and Ashton Kutcher’s Sound Ventures. These backers not only provide financial support but also bring a network and credibility to Big Time.
Big Time presents a unique approach to tokenomics by not releasing any tokens before the game's launch. The game utilizes an in-game currency called $SPACE, which players can earn by participating in the gameplay. The primary token, $BIGTIME, is distributed as rewards to players, with an allocation of 60% for player rewards, 20% for community referrals, and 20% for ecosystem and treasury needs. The emphasis here is on rewarding active players and promoting a healthy in-game economy. Notably, there's no ICO, seed investor token offerings, or team allocation to prevent token inflation, ensuring a fair distribution mechanism centered around the actual gameplay and player engagement.
The price of $BIGTIME has been on the rise, at $0.16. Its market cap, according to Coingecko, stands at around 25 million USD with a circulating supply of more than 150 million $BIGTIME.
III. Economic Model
Big Time has adopted a unique "Cosmetic Based Economy" approach to ensure fair play and enrich the gaming experience. Unlike traditional free-to-play games where studios sell skins directly to players, Big Time allows players to craft and control the creation and sale of cosmetics within the game. This model is designed to integrate players more deeply into the game's business ecosystem.
In Big Time, there's a $BIGTIME token. They made sure that when they started the game, nobody, not even the people who made the game, got a bunch of these tokens for free. Players can find these tokens while they play the game, like finding hidden treasure. You can use these tokens to buy things or make stuff in the game. They're really important because they help everything in the game keep going, like glue holding it all together.
Then, there are these cool things called Hourglasses. They're pretty special and not everyone can get them easily because there aren't a lot of them. When you have an Hourglass, you can start making your own $BIGTIME tokens just by playing the game. It's like having a magic item that makes money! The way Hourglasses work with the $BIGTIME tokens is important because it helps keep everything fair and balanced in the game. As more people play, the game makes sure there's just the right amount of tokens and Hourglasses, so everything stays fun and fair for everyone.
In Big Time, players can do something called crafting. It's kind of like making your own toys or cool stuff in the game. To do this, you need to find things like SPACE and special items called Utility Collectibles. These can be things like an Armory, Forge, or Time Warden. With these, you can make your own Cosmetic Collectibles and Hourglasses. It's a bit like using building blocks to create something new. This part of the game is really important because it helps players earn things and keeps the game's economy moving.
There's also trading in the game. When you craft or find Cosmetic Collectibles, they belong to you, like your own toys or treasures. You can then trade or sell these to other players. There are special places in the game, like a market called Open Loot, where you can do this. You can also trade outside of the game on different platforms. This trading is a big part of the game because it lets players run their own little shops and markets, making the game's world feel more real and alive.
Big Time earning mechanisms are different from previous GameFi. In those older games, making money was usually just about clicking a lot or doing simple tasks over and over. But in Big Time, earning is part of the adventure. You get to explore, fight battles, and craft items, and while you're having all this fun, you can earn things like the $BIGTIME tokens and Cosmetic Collectibles. It's more like being on an exciting quest where you find treasure, rather than just doing a boring job. This makes the game more enjoyable and keeps players interested because they're not just playing to earn, but they're earning while playing a game they enjoy.
Marketplaces & P2P Trading
In Big Time, there are player-driven marketplaces and person-to-person (P2P) trading. It means players can swap and trade their stuff directly with each other, making the game's economy more exciting and active.
There are also special places in the game, like Open Loot, where players can go to trade their Cosmetic Collectibles. This is kind of like a special shop or market in the game where you can find all sorts of neat items that other players have made or found. By having these places to trade and sell, everyone gets more involved in the game's economy, making it more than just playing a game – it's like being part of a big, busy community where everyone is trading and sharing their cool finds.
In the world of Big Time, players encounter a few key stages as we take a look at the game's economy. It starts with Time Wardens, which are essentially crafting stations where players can upgrade and recharge their Hourglasses. These Hourglasses are then held by their owners, who have spent time creating and empowering them. The next stage involves Armories & Forges, where players use the power of their Hourglasses to create special items. Finally, these items, which include $BIGTIME tokens and Cosmetic Collectibles, make their way to the end users— the players who use these crafted goods to enhance their gaming experience.
I think Big Time really stands out when compared to older GameFi projects, and a lot of this comes down to two main things:
First, it's about the team. Big Time's team is filled with people who know gaming and Web3 inside and out. This wasn't the case for many games in 2021, which were often made by smaller, less experienced groups. This strong team gives Big Time a solid foundation to build on.
Next, there's a clear effort in making the game fun and engaging. The story, gameplay, fighting systems, and graphics are well-made. They even seem to have put more mindworks into it than some traditional games that are made to be sold to gamers. The "Play to Earn" trend in 2021 saw a lot of simple click-to-earn games, or games that quickly became boring. Big Time is a breath of fresh air here.
The other reason Big Time is popular is because they were really good at marketing. In the last two years, lots of projects didn't have many players due to no cashflow, but Big Time got lots of people excited about it from the start. They told everyone how fun and different their game was, so lots of players wanted to try.
Big Time also differs in economic model. In 2021 GameFi, players can just jump in, earn some quick game money, and then leave. But in Big Time, there’s no chance for that. You've got to play through different stages, almost like going on a big adventure with lots of chapters. Because of this, players don't just grab their game money and run away fast. It's more of a slow and steady journey.
This is really smart because it means the game doesn't run out of its treasure too quickly and has time to welcome more players into the adventure. Also, since players get to do so much and have fun along the way, they're more likely to stick around, really get into the game, and become super fans. It's like making friends at a new school; you hang out more, do lots of cool stuff together, and become best buddies.
However, I believe there are some obstacles ahead. The game's economy is tied to $BIGTIME token, which could go up as more people play. But what if fewer people play? And what about the creation of NFTs like Cosmetic NFT and Hourglass NFT? They recently tried to control the creation of these NFTs to prevent too many from flooding the market, but this move also meant players earned less, and some left the game. It's a tricky, endless situation. If they let too many NFTs into the game, it could cause problems, but if they restrict it too much, players might leave because they earn less.
In my opinion, Big Time is a great example of a well-done GameFi project. It shines bright among many lifeless projects out there, thanks to the team's hard work and investment. But, the issue of finding a balanced economy still looms large. This was a problem for GameFi projects in the past, and it's not yet clear how Big Time will solve it. Will they find a way to make the economy work in the long run, or will they face the same problems others have? I don't know, and it seems like we'll have to wait and see.