As the title suggests, this article will dive into basic details of the T3 Play XP and $T3P token system, and why its already better than anything else in web3.
First, lets quickly cover what has not worked long term in the space so far.
- Single token systems with fixed supplies
- Inability to onboard web2 users smoothly via popular web2 platforms
- Multi token systems (reward, governance , staking + other tokens)
- Low FDV High float token distributions
- Unsustainable high reward ratios encouraging value extraction
- Play to Airdrop models that only attract temporary players/farmers
- Games that launch their token before they have any in-game demand
There are a multitude of other things that plague web3 games other than what’s above. Its such a crucial thing to get right, and no one has a proven model that is robust and sustainable and still adds genuine long term value.
That’s where T3 Play comes in. If you don’t have an example of something that’s proven to work, then you MUST create a token system that is forgiving. Something that’s flexible and can be adjusted in real time based on data and feedback.
That’s exactly what we’ve created, and there’s a huge bonus…Its a hybrid model that works seamlessly with web2 as well!
Lets explain how it works very briefly…You can check out token explainer here for more details
XP is our in-game reward currency, just like any web2 in-game currency but there’s a difference, its off-chain for web2, and on-chain for web3. It also has no intrinsic value in itself on-chain. (Its worth $0 outside the T3 Play ecosystem)
This allows that token to be used on Steam, Apple app store, and others as an in game currency that players can purchase with fiat. They can then use that XP to purchase web2 assets and in-game experiences, just like any other web2 game and cannot sell or transfer the ownership of those assets.
Here’s where it gets interesting. Those same web2 and free to play users, through our ATO (Active to Own) system, can eventually earn the ability to claim full ownership of their web2 assets with their web3 counterparts in the form of on-chain XP and NFT in-game assets.
Once they qualify through the ATO system, they can then claim those assets in their user profile which has a built in wallet, return to the game, and reconnect to gain access to that particular asset in-game.
Now onto $T3P. The main difference between these 2 tokens is what they are used for, but also the value that’s tied to them. XP as we mentioned has no intrinsic value outside the ecosystem. $T3P on the other hand is just like most other crypto tokens where they have a $ value tied to them.
$T3P can be used for a variety of things from staking for rewards, all T3 Play secondary marketplace purchases, entering tournaments (PvP), high stakes game modes (PvP), fees from web3 transactions.
XP can be swapped for $T3P too, but there are special requirements for this, and the amount each player can swap depends on how much value they’re offering back to the ecosystem in the form of special asset purchases, and staking varying amounts of $T3P.
In all cases, whether our ATO system, or the XP to $T3P swap system, the user must offer a minimum amount of value to our ecosystem before they can “extract” any value. This combined system means we have huge adjustability with reward ratios if they are too high or low, as well as XP to $T3P swap ratios if too much value is leaving the ecosystem.
This system combines a proven web2 model that will generate large amounts of revenue in the platform, while allowing us to soft educate new users on the benefits of web3 ownership that we all already know and love. We cannot wait to prove this system and become the yardstick web3 gaming industry uses when it comes to token systems.
Full token explainer: HERE
Full ATO explainer: HERE
Website: https://www.t3play.com
Discord: https://discord.gg/t3play
X: https://twitter.com/tech3play
X: https://x.com/polygunnerz
