Pixel Unvaulted
The RE3W update from Jonah Blake
In this post, we will cover the following:
-Giveaways and Drops review for the Real Agents community
-Pixel Vault paper initial thoughts
Giveaways and Drops:
Below is the list of giveaways, drops, spots, and links that we shared with our Real Agency collectors and the general community in the last 17 days.
Cyberstadium: Asset distribution completed
Legendary Heroes Unchained: Asset distribution completed
Cross The Ages: Free NFT bundle complete
Tearing Spaces: 200 Asset giveaway completed
Game Of Nations NFT activated
Wildcard: 50 free NFTs Twitch Activated
Yat Fantasy early access and specialty badge
Skyborne Legacy: 10 Free NFTs
Real Agency Keys: 3 to be sent to previously listed winners
Shrapnel: 500 Free NFTs completed
Planet Mojo: 25 Free NFTs completed
Overworld: 5 Free NFTs
Dimensionals: 5 Free NFTs
Alaska Gold Rush: 150 Free NFTs
Paradise Tycoon: 175 Free NFTs
Crypto Unicorns: 100 Free NFTs
More coming soon.
What is Pixel Vault Doing With Reboot?
Before I give my take, please note that nothing said here should be perceived as financial advice. I am aware of tokens, NFTs, and other digital assets that Pixel Vault owns. At the time of writing, I currently own 0 (zero) assets from Pixel Vault. This post is also a very short impressions write-up. If you want deep analysis, linked below is a video where I chat with a Pixel Vault team member for 2 hours walking through documentation and thesis. The footage is unedited. We may create clips at a later date.
https://www.twitch.tv/videos/1762408066
or listen to this podcast deep dive we ran with the executive leadership at Pixel Vault
The Reboot Paper:
Reboot is difficult to conceptualize, but I like to think of it as an open-source protocol that offers a decentralized publishing tools system. The paper presents game distribution as the potential value add for developers.
The protocol is also intending to offer the following technical systems:
Rating system
Marketplace
Audience reach bounties using Reboot ecosystem liquidity
Matchmaking System
Validation system for skill-based games
Vesting rewards for game assets or VNDT
The first question you need to ask yourself when looking at crypto gaming protocols is why? Specifically, why is this needed? If the protocol is backed by a token, in this case, NDT, then why do we need this token? Why can’t we just operate our game in USD, USDC stable, ETH, or in another protocol?
The second question you need to ask is has this been done before? Is there a comparative protocol that we can draw from? If yes, then why is this better or different? If not, then why has no one done it? the answer is rarely due to a stroke of genius. Almost all ideas are unoriginal.
To answer our first question, I DO NOT believe many large-budget games will need to join a protocol such as Reboot. The core proposal of using a protocol that is natively using a new token is adoption and distribution. As a game developer do you need help going to market or do you need to share network volume to bring in new players? for many indie games that answer is yes. Protocols can be a good adoption tool for a new game, but only if the protocol has network effects. Reboot currently does not have network effects. That does not mean it will never have network effects. It is a very early protocol that is complex and not public. It is still dependent on Pixel Vaults’ popularity. While Pixel Vault sits on good capital, it is going through a pivot and rebranding campaign to realign its current NFT collectors. They are also launching their first game on Reboot, called “Battle Plan”. I consider this a good sign from a company standpoint. They’re putting their best foot forward by contributing capital and entertainment to the reboot protocol before other companies do. If “Battle Plan” is a success, then it will attract other indie developers looking for capital and a platform.
To answer our second question, there is another protocol that was released before Reboot that shares similarities. I have written about TreasureDao in other substack posts. They are a growing protocol on Arbitrum that aims to be the decentralized Nintendo of crypto. Like Reboot, Treasure is connected by a unifying token called “Magic” and a marketplace called “Trove”. How is Reboot differentiating from Treasure? Reboot is attempting to be the de facto protocol for skill-based games as well as offer immediate liquidity for Reboot native assets. I asked GFunk, Founder and CEO of Pixel Vault, how this instant liquidy worked on Reboot. This was his response:
“All Game NFTs within the Reboot Ecosystem are collateralized at-mint with the underlying $NDT token as part of the mint. This means that by redeeming vNDT, earning NFTs in-game or through promotions players will have (at anytime) the ability to BURN that NFT for the underlying collateral. This system serves several key purposes:
Dilution: Everything in the Reboot ecosystem is bound to a non-dilutionary token, this means everything minted in Reboot has some underlying value relative to the value of the top-level token and provides a curbing function on inflationary game rewards.
Mobility: The collateralized NDT makes a common accounting system for converting (crafting) NFTs from one game into NFTs from another game that uses the marketplace as a balancing function for the value of game items in vastly different games.
Consistent "floors": The underlying collateral sets a base value for game items, but the market may value those items at a higher rate, but never lower than the collateralization rate. That means there is room to speculate on game items but with a limited downside.
Exit with value: Players who want to exit the ecosystem or a game can do so and receive liquid value for their time spent playing relative to the items they hold even if the market no longer values the game or the items from it.
Auto balancing: The distribution mechanism for all Reboot items are minted against a VRGDA bonding curve that includes the collateral piece as part of the curve. This creates a three-fold auto-balance/arbitrage opportunity between farmers, players, and speculators. It also has the side effect of balancing through the availability and price of the items.”
It’s too early to determine if Reboot will be a success or a flop. I will say it is an audacious attempt from what has been regarded as just an NFT entertainment company. The technological knowledge needed to pull this off is serious. I look forward to seeing the launch and revisiting this topic for an updated write-up.
PROS:
-bold attempt
-well-funded primary company (Pixel Vault)
-Prior models do exist but are less complex.
-Pixel Vault will launch a game first.
IDK YET:
Instant liquidy on assets in games and anti-cheat systems.
CONS:
-Very difficult to execute at the current web3 gaming vertical scale
-Rebranding campaign not completed
-Games market is a very tough audience in web3
-Capital intensive and requires many funded games joining the protocol
-Token complexity
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