R-Planet NFT Staking Reimagines Value
R-Planet NFT Staking Reimagines Value
Earning passive income on intangible assets is a higher-order abstraction that is as revolutionary as cryptocurrency!
Crypto is growing so fast right now
The instantaneous reward that DeFi (decentralized finance) provides is driving billions of dollars into the cryptocurrency market. Every day, smart money realizes millions in passive income through DeFi, with no financial intermediary. The total value locked into these protocols is well into the billions!
NFTs (non-fungible tokens) are at the heels of DeFi as the next big eCommerce opportunity. With low fees, the Wax blockchain has enabled a revolutionary value opportunity. As anyone can create utility for any NFT on Wax, the game R-Planet has decided to combine the concepts of cryptocurrency staking with NFTs, allowing a whole new type of “yield-farming”.
The small game is making people lots of money
R-Planet successfully gamifies the destruction of a token they created called “aether”. Aether is destroyed by the game, and aether can only be created through staking NFTs. The staking process is a feeless 1-click transfer to the R-Planet server. As the game goes on, new elements are discovered - and those element NFTs generate more of the in-game currency. Only 600 NFTs of each element can be created, creating scarcity for the NFTs and new aether.
The assortment of NFTs that can be staked to earn a reward comes from a hodgepodge of creators and communities. Distributed by the millions, aether is rewarded to almost everyone who is a part of the overall WAX blockchain community.
Analogous to an “airdrop,” in the cryptocurrency space, certain collectors of NFTs are highly rewarded for holding. This inclusivity created a strong base for the game and a new passive income stream for those that are interested in staking their NFTs to earn aether, but don’t want to play the R-Planet game.
For some, that income stream is in the hundreds or even thousands of dollars a day! Every single hour, Aether is distributed and can be claimed with one click.
The game is popular enough that community tools have sprung up around the game: There is a decentralized exchange that allows anyone to buy and sell aether, websites to track how much aether you earn per hour, spreadsheets to cross reference, and a “1-click” generator website that allows you to combine hundreds of elements at a time.
R-Planet rewards early players
At first, it didn’t seem that R-Planet would catch on in a big way, so early players and stakers that saved their aether were rewarded big time!
As the game has grown, some players buy aether in order to play R-Planet, which has given it a real-world value (and a slight ponzi feeling of rewarding old investors at the expense of new ones). Converted to USD, 1 aether costs around $0.00015 on the open market, a price that has held up surprisingly consistently for over the last 2 months. Stable prices lead to a predictable ROI for those looking to get involved.
R-Planet is accessible to anyone with an email address, but especially those with the WAX cryptocurrency. That accessibility has driven a huge secondary market. R-Planet is setting records: around 25,000 people are actively seeking to earn aether, with R-Planet NFTs reaching over $3,000,000 in sales in a 7 day period, and a total of over $11,500,000 in secondary sales.
Like any cryptocurrency project, R-Planet requires research before investing, or playing. There are pros and cons, and the price of aether needs to remain stable for an “investment” to be worthwhile. A stable aether price requires constantly innovating ways to incentivize the destruction of aether. At any time, “megawhales” earning millions of aether per hour could decide to sell their rig and element collections, and a better game (one with a snappy GUI) could come along and blow R-Planet out of the water.
The future is here!
The intersection of decentralized finance and NFTs may have seemed inevitable, but it’s actually a successful version of something long-theorized. This is an application of cryptocurrency that we will see iterated time and again throughout our new digitally native value system.
The versatility of the protocols that creatives have on hand is leading to tangible rewards for early supporters and collectors that have created communities around WAX blockchain NFT projects. R-Planet has led the charge in creating new value for NFTs, but they have shown that the potential rewards for innovation are almost limitless.
The team behind the game, WeCan, has shown their ability to successfully create market-economy games with their Prospector’s game, and their inclusivity of other projects has led me to believe that they will continue to draw in a community of players, but as the minimum investment to play has risen to hundreds or even thousands of dollars, it may not make sense for the average person to start playing R-Planet today.
That barrier to entry, as well as the huge reward for the earliest players, will likely need to be improved upon for those looking to create new NFT staking systems. In the meantime, the hourly staking rewards are an exciting way to be constantly rewarded for early participation in the WAX blockchain space.
If you see someone successfully creating a game that is as rewarding as R-Planet and also combines DeFi and NFTs, please let us know!
Someone should tell beanie that the future is already here.
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Rplanet has a very strong community and i also love Mining in it and i believe that in couple of Months we will see more then 50k Online players cause of the popularity of game is increasing immensely and going wide and wide.
I also want to say something to Bonz if he is reading this :D
Wen FINNEY lol
Jk man don't be tense 😬 😂😂
With the rise of R-Planet and nft-fi, there's a very interesting question at hand. Value to this game has seemingly been driven by the scarcity of mining power and land ownership. At current levels, it's near impossible for a newbie to join without making a significant capital injection which may or may not be profitable in the long run. How can we make this game, and other successors accessible for new players while maintaining the scarcity that has allowed it to be profitable for early adopters? Will keeping resources scarce have a negative long-term impact if new players are not motivated to join due to high barriers to entry costs? Will games like this only be profitable for whales and early adopters? I'm interested to see how the nft-fi space continues to develop to determine where a happy medium lies and if longevity is feasible. Thanks for the article!