FYX Gaming announced a Q2 2022 launch of a native token that will be the new basis of the CryptoFights economy. CryptoFights is a fighting strategy game built on the BSV blockchain, currently generating more than 2 million transactions per day, which on some days is consistently more transactions than the entire Ethereum blockchain.
I caught up with CEO Adam Kling to ask more detailed questions about the FYX Token.
Why choose to launch a token at this stage in the CryptoFights game’s lifecycle?
Adam Kling: We realized after launching CryptoFights in June 2021 that we needed a deeper tokenomics system to compete with games like Axie Infinity. Players are looking for a richer experience and also multiple play styles (i.e., not just pvp).
How long have the ‘tokenomics’ been under design/development?
Adam Kling: Over 6 months.
100 million tokens will be sold to the public initially, but the white paper states 200 million will be the initial circulating supply. How exactly will the other 100 million tokens be unlocked as part of the initial supply?
Adam Kling: This was unclear as I reread the white paper just now. The other 10% is for private/advisors but will still be time locked so they technically won’t be circulating. White paper has been updated.
What drove the recent decision to make PvP (player vs. player) fights free?
Adam Kling: We are looking for user adoption and scale.
When 2.0 is launched it will really push the boundaries of transactions per day and we want the most transactions available to us now to prepare.
Betting BSV on PvP fights was originally a key attraction and revenue stream for FYX. Will that come back in any form as an option in addition to betting FYX tokens?
Adam Kling: Yes, in 2.0 it will be replaced with FYX tokens.
Will the game still be free to play to start?
Adam Kling: Yes, we are looking at having 1-2 arenas/dungeons that are free to enter and have lower rewards. We will also have a new player referral system to earn FYX tokens for inviting your friends.
The token will now be used to pay the fee for many actions such as entering dungeons, crafting items, etc. Will BSV be used as the in-game currency in any area, for example remain as the currency in the NFT marketplace?
Adam Kling: We are looking to use FYX tokens in place of everything including the marketplace but that might be an option in the future.
Adam Kling: There are currently no plans to open this up, if there is any interest, please let us know.
The white paper alludes to a swapping platform—could you elaborate on how this platform will function and if users will be able to always buy FYX token easily for BSV and vice-versa?
Adam Kling: Yes, exactly. We are working on a system that will allow the user to easily swap the FYX token with other coins including BSV. This will be part of the wallet offering of FYX.
What is the difference between staking and charging Fragments in terms of passively earning FYX tokens?
Adam Kling: They are the same in the sense that they are taking lots of effort and cost for a potential higher value received based on the battle volume of the game.
It’s predictive, if the game’s volume does well and you charge a portal you come out ahead or the opposite.
How will charging portals curb the item inflation, specifically the low-quality weapons and gear that have flooded the NFT marketplace in the past?
Adam Kling: The low-quality items will have the ability to be dismantled to get a random chance at components that you need to create higher value items. The current model of 1.0 will be replaced with this new model.
Will players who played before the token launch be retroactively rewarded FYX tokens based on previous activity?
Adam Kling: We do not have any plans to airdrop tokens just because, but our new player incentive program is planned which I think you covered in your previous video.
When in Q2 will the token officially launch?
Adam Kling: To be announced.
Thank you, Adam, for taking the time to answer my questions. I hope the readers learned more about the FYX Token mechanics. Learn more at https://whitepaper.cryptofights.io/.
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