Welcome to the recap of our extremely insightful May AMA, which featured our very own Chieftopia: Cryptopia’s CEO, Sangho Grolleman. Sangho’s talk was centered around Game Economy, Cryptopia’s role in game economics, and the several ways it’s implemented in the game.

To start off, we want to inform you all that we have had massive growth since last month; our community has grown a whopping 824% across the board! This was only possible with your support, and we’d like to thank each and every one of you for that.

Last weekend, we were honored to be invited to a top members Daxio event in Phuket, and we presented on stage about Cryptopia and sponsored some Early-Access NFTs as well! It was a great opportunity to spread the word about Cryptopia, and we made some amazing friends in the process. The Daxio community is extremely supportive of Cryptopia, and we had a very productive weekend!

Chieftopia was very excited about Game Economy and kicked it off by telling us a little about how he got interested in this. When he started playing more strategic games like Civilization (which is Cryptopia’s inspiration as well), he was exposed to the economy side of games. It’s all about supply chain, building things in games, and progressing your way with those assets. However, the real understanding came from online games in 2003, when he saw how you can trade in-game assets with other players, use an auction house and a marketplace as well. The main question is whether it’s cheaper to craft these assets yourself, or is it more efficient to just buy it from other players and/or the game?

A few years later, the free-to-play (F2P) element entered the traditional gaming world. This is where you can play the game free of cost, but if you want to get the most out of it, you would need to pay to upgrade and progress further. The main point about the F2P model is the introduction of a multi-currency system, where you earn a basic currency through the game, and pay for a unique currency which allows you to get special assets. The majority of players will play for free, and a smaller number of players will pay. The most interesting development though, is the play-to-earn (P2E) or play-and-earn model, which is now available with blockchain technology that allows you to earn real cryptocurrency. Chieftopia went on to further explain the importance of thinking through all the flows when developing a game. If not well thought out, the game can have a bad game economy and will have loose ends that will either make it very easy to play the game, or illogically difficult.

Revenue stream for the publisher of the game is crucial as well, and this requires only up to 10% of the players conducting micro transactions while playing. Blockchain technology opens a whole new level to the future of game economics, and it will likely only get more complicated in the future. With P2E, there are different motivational dimensions for players; those who want to play for fun or those who want to invest. High quality games with a good flow and well thought out game economics, are the ones with a higher chance of success.

Cryptopia will contribute to the advancement of game economics, especially in the F2P and P2E genre. Several ways on how we plan to execute this:

Add human labor with your avatar into the supply chain creating a virtual economy of scale

You can pool resources to buy assets: start a public company and co-own an asset

Lend assets to other players and share the revenue

Tax system: small tax on transactions that will remain in a treasury for rewards

Public services: players pay a fee for services, and a portion of the fee goes back into the treasury

Gas system: a small portion of your quest rewards will enter your gas account, so you never have to worry about your gas amount

We asked community members to send in questions, and one of the questions prepared for Chieftopi