Metaverse & NFT • August 12, 2024, 1:51PM EDT
Published 5 minutes earlier on
UPDATED: August 12, 2024, 2:12PM EDT
Quick Take
- Yescoin’s founders said they are “working diligently to meticulously plan each step of the token release.”
- They are also in active discussions with top-tier exchanges with regard to the game’s eventual token airdrop.
As much as Yescoin’s millions of users probably want to see the crypto game's token airdrop as soon as possible, its creators say they are committed to a calm and calculated approach as they consider how best to keep gamers coming back for more. "We are working diligently to meticulously plan each step of the token release to drive the long-term success and growth of the project," Yescoin’s anonymous creators recently told The Block. "Our core goal is to create long-term, sustainable value for the industry, including launching tokens that have more sustainable value for holders." A Yescoin spokesperson said the game currently has over 30 million users, up from the 18 million the title had back in June. According to the game’s founders, strategizing how to incentivize users to stick around and keep engaging with their ecosystem after the Yescoin token generation event (TGE) is a challenge that has to be carefully considered before a date for the airdrop can be selected. "Mechanisms that provide short-term dopamine can quickly attract users, [but] our goal is to ensure every new user experiences a long-term sense of fulfillment," the project’s leaders said. "We are working diligently to meticulously plan each step of the token release to drive the long-term success and growth of the project." In recent months, Telegram clicker games on the TON blockchain like Notcoin NOT
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and Hamster Kombat had managed to accomplish something not seen since the play-to-earn era of 2021, when Axie Infinity grabbed headlines, in part, for attracting millions of users. But since that game fell from favor, the nascent web3 video gaming industry has largely struggled to gain significant traction despite the release of many new titles boasting complex gameplay and much-improved visual aesthetics. While Hamster Kombat claims to have gathered more than 300 million users, Notcoin, which launched first, has already successfully completed a $1-billion token airdrop, seemingly demonstrating Telegram, tap-to-earn games could evolve into blockchain-based projects with substantial economic potential. Telegram’s CEO, Pavel Durov, appears to concur. The executive recently claimed another clicker game called Catizen had generated $16 million in in-app revenue. Before that, Durov appeared to endorse Notcoin. "The past three months have marked the fastest growth in new users in cryptocurrency history," said Yescoin's creators. "The next six months will be pivotal." Although the simplicity of Yescoin's gaming mechanics is similar to Notcoin and Hamster Kombat, its creators stressed that their game is a "swipe-to-earn" title rather than the tap–to-earn model employed by its rivals. They said requiring players to swipe helps to deter the use of bots. "From day one, we implemented a swipe-to-earn model that is different from the mainstream tap-to-earn approach, which has not only enhanced user participation but also effectively isolates bots," Yescoin’s creators said. Both Hamster Kombat’s creators and TON blockchain’s gaming lead recently told The Block it's unclear how many bots make up the millions of users purportedly playing the new Telegram-based games. While bots can boost user numbers and games' social media followers, they both weaken the overall ecosystem and can spoil the potential for real players to properly benefit from an airdrop. Besides mulling how to manage the TGE from their end, Yescoin’s creators said they are also in active discussions with top-tier exchanges regarding the game’s eventual token airdrop. In the meantime, Yescoin is currently running a promotion that involves doling out $1 million worth of USDT stablecoins to players in collaboration with exchanges such as Binance, OKX and Bitget, which help distribute the token rewards. The game’s creators also made a point to describe the diversity of Yescon's user base. They said the game has players in over 200 countries, with 10 of the top 20 countries where it is most popular being located in Western Europe and North America. In the past, one criticism of play-to-earn blockchain games like Axie Infinity was that those games primarily attract users from poorer, underdeveloped nations who are seeking an alternative means to earn a living. A gaming ecosystem where gamers are mainly playing to make money is widely viewed by gaming developers, including Notcoin's founder, as unsustainable. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.New wave of growth
Isolating the bots
All over the world
About Author
RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.