Kuala Lumpur, Malaysia, January 19, 2023 /PRNewswire/ — Footiverse, a metaverse of the fantasy football league, recently marked its entry into the NFT space with the launch of the FootiverseNFT Collection on New Year’s Eve. Footiverse, a utility-powered NFT, seeks to create a sustainable NFT ecosystem fueled by the continuous addition of practical features and perks, rather than just through hype. To further this mission, Footiverse aims to launch its Game-fi platform (the intersection of gaming and finance in an environment driven by the use of blockchain and NFTs) in Q3 2023.
A digital asset that lives on a blockchain, NFTs are popular for their uniqueness and community-empowering nature. While incentivization and popularity can greatly increase the value of hype-driven NFTs, this also means that they typically have extremely short lifespans compared to their web 2.0 counterparts, because they are powered by the untenable resource of exaggeration. The hype’s emphasis on marketing and value creates a vacuum in thinking given to long-term planning in building a thriving NFT ecosystem and community.
For example, while the average holding period of NFTs raised from 30.9 days to 47.9 days between the first and second quarters of 2022: This is still a relatively low period compared to more traditional investments, such as stocks that have an average holding period of 5.5 months. Footiverse aims to achieve holding parity and redefine NFTs as a long-term investment by making their value less dependent on hype cycles and market fluctuations.
“Footiverse’s main strategy to maximize user engagement is through NFT gamification. Web 3 gaming opens up new opportunities with game-to-win systems to further encourage user activity. However, many Web 3 games use predatory practices such as blocking rewards and progressing through hours and hours of gameplay to produce artificial activity and demand. To counteract this, Footiverse instead focuses most of its utility and value to be generated passively with simple, interactive systems that won’t require daily user input.,” saying alvin leonCo-Founder of Footiverse.
One feature that allows users to earn passive rewards is the Footiverse Dream Trainer, where participants can also collect points based on the performance of players on their dream team. These points are calculated based on individual player statistics in each game, such as number of goals scored, assists made, passes completed, and more, with final scores tabulated and updated weekly, as summarized below;
Participants compete with their team in leagues to win prizes, or compete in the Footiverse Fantasy League.
Participants complete a player set for additional bonuses or trade with others to complete sets or team up.
Earn royalties for being the first to own an NFT or for creating an NFT.
There will be two royalty systems that will reward players for productively interacting with the market. The first stream rewards users for being the first player card holder and gives them royalty rights on all subsequent transactions. The second stream allows users to generate their own NFTs which can then be sold and traded with all transactions generating royalties for the original creator with Premium NFT sales starting on the 18th of January 2023.
They are also available as an alternative investment stream for participants soccer chips. Footi tokens, like their NFT counterpart, are a utility-powered crypto. Token sales will begin on January 28, while the initial decentralized exchange (DEX) offering offering the initial dex offering (IDO) will take place on January 28. February 8, 2023. These tokens provide a simple and streamlined experience for users, serving as both in-game currency and a handy crypto that can be used for external purchases. This takes the hassle out of exchanging and finding buyers for in-game currency and allows users to instantly convert from crypto to fiat at any time, as outlined below;
pay gas fees
Make purchases in the game and in the world
Spend on multiple platforms (licensed gaming networks)
Perform crypto to fiat conversions (Savvixpay)
Perform Web 3.0 commerce or convert existing Web 2 businesses to Web 3
Participate in decentralized autonomous organization (DAO) voting
For more information about Footiverse, kindly visit www.footiverse.com.
footiverse is a SingaporeCreator of the fantasy football league metaverse with NFT releases targeting the entire APAC region. The platform launches avatars into collections that are based on real-life soccer leagues, including La Liga, Bundesliga, and more, the first and most recent being the world cup collection currently available on the largest NFT marketplace, OpenSea (opensea). .io/collection/footiversewc2022).