Leading metaverse company, Decentral Games, decided to implement a plan that would see the play-to-earn model shift and the ICE token emission to drop by 55%.
The Decentral Games Plan
In order to achieve such plans, Decentraland Games changed the type of rewards obtained by delegated players renting wearable NFTs to play ICE Poker Sit-n-Go! From now on, players will be rewarded with “Banked ICE” instead of direct ICE. The banked ICE rewards will be used toward purchasing wearables and shine (used to join tournaments) for the ICE Poker Sit-n-Go game!
Decentral Games aim to make their game and ecosystem more players-owned. This prohibits players from selling their tokens as soon as they acquire them, giving players a path to owning assets themselves.
“The existing play-to-earn model is broken. While offering limitless rewards to those that have invested nothing can be incredible for bootstrapping player liquidity, they are unsustainable. We’ve seen this with nearly every major GameFi project that kept this model. We’re taking a different approach. Our focus is on the long term, and it centers on enabling our players to own in-game assets through their gameplay while managing the token emissions we create so that the player base can scale without issue. This is what’s going to set us apart over the next 12-18 months.”
Matthew Howells-Barby, CMO at Decentral Games.
Banked ICE holders will still be able to redeem the tokens to ICE, but they will suffer a 70% penalty and require a minimum balance of 6,666 Banked ICE. The ICE poker ecosystem can now sustain a balanced player economy thanks to the changes made, where burns are consistently higher than new emissions.