From players to creators: the community-driven model and future market value exploration of the Nifty Island platform
西格玛学长2024/12/23 09:04
By:西格玛学长
I. Project introduction
Nifty Island is a community-driven virtual world platform that combines blockchain technology, NFTs, and user-generated content (UGC). Players can not only create their own islands, design and share games on the platform, but also earn rewards by participating in games and contributing content. Each player will receive an independent island, customize their personal space, and interact with other players by showcasing their creativity.
Nifty Island allows players to obtain Legendary Palms NFTs through game participation through a unique Play-to-Airdrop system, which directly increases the player's airdrop reward level. These rewards can be converted into actual value ISLAND tokens, providing players with more opportunities for earnings. The platform promotes the close integration of gaming experience and real value in this way.
As an open creative platform, Nifty Island encourages players to unleash their creativity like in Roblox or Fortnite Creative, designing and sharing their own islands, challenges, and game modes. The platform also integrates digital assets into the game, allowing players to display, collect, and trade NFTs, creating a social and economic metaverse space.
II. Project highlights
- Create and customize islands for free
Each player will receive a free island that can be designed and customized according to their personal creativity to create their own virtual space. Whether it's casual creation, challenging games, or social interaction, they can all be realized on their own island.
- User-generated content and creative freedom
Nifty Island emphasizes user-generated content (UGC), allowing players to create game scenes, challenges, adventures, and competitive modes as they would in Roblox or Fortnite Creative, engaging other players and enhancing the diversity and vitality of the community.
Play-to-Airdrop system and reward mechanism
The newly launched Legendary Palms NFT mission system allows players to improve their airdrop level by participating in platform activities. By obtaining these NFTs, players can receive higher ISLAND token allocations and enjoy more generous rewards. This system combines gaming experience with real rewards, motivating players to continue participating.
NFT integration and digital assets
Nifty Island integrates NFTs, allowing players to not only enjoy the game, but also display, collect, and trade the NFTs they have obtained on the platform. These digital assets are not just virtual items, but also bring real-world economic value, enhancing players' long-term participation motivation.
- Rich game modes and social interaction
The platform offers a variety of game modes, such as Racing, Battle Royale, Capture The Flag, etc. Players can climb the leaderboard and win rewards by completing tasks, challenges, and competitions. Nifty Island provides players with a social, competitive, and creative experience, encouraging players to continuously create new content through interaction and competition.
III. Market value expectations
ISLAND is the native token of the Nifty Island ecosystem, with a current unit price of $0.08554, a circulating market value of about $14.14 million, a fully diluted market value of $85.53 million, and a total supply of 1 billion ISLAND.
To evaluate the market potential of ISLAND, we selected the following benchmark projects for comparison: Axie Infinity ($AXS), Illuvium ($ILV), and Fusionist ($ACE).
Benchmarking project
1. NFT-based blockchain game: Axie Infinity ($AXS)
Unit price: $6.04
Market capitalization: 944 million USD
Fully diluted market cap: $1.631 billion
Circulation: 156,871,789 pieces
Total supply: 270,000,000 pieces
2. Open world RPG adventure game: Illuvia ($ILV)
Unit price: $40.19
Market capitalization: 289 million USD
Fully diluted market cap: $386 million
Circulation: 7,194,047 pieces
Total supply: 9,598,822 pieces
3. Mecha Game World: Fusionist ($ACE)
Unit price: $2.06
Market capitalization: 87.26 million USD
Fully diluted market cap: $303 million
Circulation: 42,328,549 pieces
Total supply: 146,307,870 pieces
Market value comparison with expectations
1. Benchmarking Axie Infinity ($AXS)
If the circulating market value of ISLAND reaches a level equivalent to Axie Infinity (944 million USD), the ISLAND unit price will rise to about 0.944 USD, an increase of about 1003%.
2. Benchmarking Illuvia ($ILV)
If the circulating market value of ISLAND reaches a level equivalent to Illuvium (289 million USD), the ISLAND unit price will rise to about 0.289 USD, an increase of about 238%.
3. Benchmarking Fusionist ($ACE)
If the circulating market value of ISLAND reaches a level equivalent to Fusionist (87.26 million USD), the ISLAND unit price will rise to about 0.087 USD, an increase of about 5%.
IV. Token Economics
ISLAND is the native token of the Nifty Island ecosystem, aiming to provide "in-game utility and demand drivers" for the platform, and promote the development of the game metaverse centered on creators. As a core token, ISLAND has a wide range of application scenarios in the ecosystem, including paying transaction fees, participating in platform activities, and obtaining rewards. ISLAND's publishing will provide long-term incentives for creators and players, helping Nifty Island establish a prosperous community and economic system in a decentralized virtual world.
The total supply of ISLAND tokens is 1 billion and will be published on the Ethereum blockchain using the ERC-20 standard. ISLAND tokens will also adopt LayerZero's cross-chain technology, which allows tokens to not only circulate in the Ethereum Layer 2 network, but also support cross-chain interoperability of other chains such as SOL in the future.
ISLAND tokens will be distributed according to different ecosystem participants, ensuring that every key group can benefit from the growth and development of the platform. The distribution of tokens will involve the following five main groups:
Community (40.1%)
The community will receive the largest share of the ISLAND token supply, about 400 million tokens, to promote the active level of the platform and the growth of the ecosystem. These tokens will be subdivided into three main uses:
Nifty Island Reward Pool: Used to reward active users and creators, motivating players to participate in platform activities.
Ecosystem Incentives: Support developers, creators, and community members to contribute content and develop the ecosystem.
Game Airdrop Event: Used to support the platform's Play-to-Airdrop program, which incentivizes players to participate in the game and upgrade their airdrop level by holding specific NFTs.
Play-to-Airdrop activity (12.6%)
This portion of the tokens will be allocated to players who participate in the Play-to-Airdrop campaign. The campaign lasts for nine months and aims to drive user growth on the platform by rewarding active players. Participants will be able to flow and trade these tokens after they are generated.
- Creator and developer rewards (25%)
In order to encourage more developers and creators to join and contribute content to the platform, Nifty Island will provide generous token rewards to creators on the platform. These rewards will motivate them to innovate in island construction, game design, and other content creation.
- Team and consultants (10%)
The Nifty Island team and its advisors will receive a certain percentage of ISLAND tokens to ensure the team's continued development and strategic support for the project. These tokens will have a certain lock-up period to ensure the team's long-term commitment to the platform's development.
Partners and investors (12.3%)
This part of the tokens will be allocated to early investors, partners, and supporters in exchange for their financial support and strategic assistance for the project. The tokens will help them gain returns from the success of the platform.
Token usage and value-driven
Payment of transaction fees: When players and creators conduct transactions on the platform, they can use ISLAND tokens to pay corresponding fees.
Users can use ISLAND tokens to buy, sell, or trade NFTs, promoting the flow and value appreciation of virtual items within the platform.
Participate in Platform Governance: Users holding ISLAND tokens can participate in platform governance decisions, make suggestions or vote on the future development direction of the platform.
ISLAND will serve as the platform's reward mechanism, rewarding active players, creators, and contributors, promoting content generation and community building.
Through these diverse applications, the ISLAND token will not only serve as a medium of exchange, but also drive the continued growth and prosperity of the Nifty Island ecosystem.
V. Team and financing
Project team
The team at Nifty Island is led by co-founder and CEO Charles Smith, and is dedicated to driving the development of a creator-centric game metaverse.
Financing aspects
Nifty Island completed a financing round in October 2021 with a total amount of $20 million and received support from several well-known institutions, including Hashed, Arrington Capital, Sfermion, Distributed Global, Solana Foundation, and Alameda Research.
VI. Risk Warning
1. Nifty Island is facing intense competition from traditional UGC platforms such as Roblox and Fortnite Creative, as well as blockchain metaverse projects such as Sandbox and Decentraland. If it cannot continue to provide unique user value (such as differentiated gameplay or better Incentive Mechanism), it may lose market share.
2. The ISLAND token distribution mechanism encourages players to earn rewards through games and creations, but in the long run, if the platform cannot balance the token circulation speed and demand growth, it may lead to token inflation, which will depress market prices and weaken customer engagement.
VII. Official link
Website:https://www.niftyisland.com/
Twitter:https://x.com/Nifty_Island
Discord:https://discord.com/invite/4WT9BbEK82
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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