AUG 02, 2022
Geopoly: Building a blockchain gaming ecosystem where players can build business empires
DEC 10, 2021
BUENOS AIRES, ARGENTINA / ACCESSWIRE / December 8, 2021 / Economic simulation games have emerged as an exciting genre in the past decade, providing gamers knowledge on how business works and the idea of microeconomics. Learning by doing is an efficient way to gather invaluable knowledge on real-world economics.
Gamers are provided with an open-world scenario and have to build their businesses by making decisions within the game. As expected, each decision has consequences and users can build their great financial empires and possess real estate assets and enterprises.
Traditional economic simulation games have their inherent problems since only publishers get rewarded. Gamers are only end-users and purchase in-game items without any opportunity to get rewards outside the confines of the game.
Blockchain technology has transformed this by enabling in-game assets to be traded for tokens that can be exchanged for fiat currency. Geopoly is one of the platforms at the forefront of this revolution with its innovative gaming ecosystem.
Immersive gaming ecosystem
Geopoly is a geolocation economic simulator that allows users to rent, buy, upgrade and sell real estate and business assets. It is built within a system that combines on-chain and off-chain layers to provide users with an immersive gaming experience based on real-world data.
The off-chain game loop consists of four activities, namely build, rent, upgrade and sell businesses. The gameplay is divided into different branches, and players receive one free branch once they sign-up.
The branch provides them with a management capability (MC) to manage and rent businesses. Similar to most simulator games, once the player has exhausted the initial MC, they will be required to upgrade their rental properties. This upgrade is beneficial to the player as their hourly earnings from the property will increase.
The Off-chain game loop also has different currencies, including cash, gold, XP and MC. Cash is the primary medium of exchange and is generated from rent received from letting out businesses. MC is a currency that is automatically generated from each branch and used to upgrade individual branches.
Gold is only accessible via the in-game store and can accelerate new buildings and update existing businesses. XP are produced following successful upgrade on properties and raises the level of the headquarters.
Geopoly has chosen to build its On-chain game on Polygon, a layer-2 blockchain protocol that enables scalability and low transaction fees on the Ethereum blockchain. The Onchain game enables players to buy, upgrade and sell properties as NFTs using GEO$ tokens.
The NFTs are divided into two types. Specific and Iconic Locations are pre-mined NFTs that players can purchase and generate GEO$ tokens passively via yield farming.
Ownership Certificates are NFTs that are minted on request by players. The NFTs grant full ownership of selected businesses and can be exchanged or sold to other players and investors in dedicated NFT marketplaces.
Key achievements so far
Geopoly was launched on mobile in 2018 and, during its soft launch, was selected as one of the four most innovative mobile games on iOS by the Apple Latam team. It was also selected from 1700 applicants across 37 countries to participate in the Global GOOGLE's Indie Games Accelerator in 2019.
Geopoly recently revealed that its private sale hit a hardcap of $3 million within 48 hours of launch. This milestone shows that investors view Geopoly as a platform with massive potentials to become a major gaming hub in the blockchain industry.
More developments in the future
Geopoly has an extensive roadmap and has plans to begin its NFTs pre-sale, Initial Node Offering (INO) and token generation event (TGE) in December. The INO will be holding on December 10 on Moonstarter and the public will be able to participate in the NFT presale on December 12.
The GEO$ token generation event (TGE) will go live on December 15 on popular decentralized exchange SushiSwap and will represent a major milestone for Geopoly. The public will be able to access GEO$ tokens for the first time. Following the TGE, Geopoly plans to list GEO$ tokens on several centralized exchanges.
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