As we approach the conclusion of our first week BETA testing P2E functionality in MUSE Oraia, I would like to take a moment to step back and analyze a few of our key observations. We are witnessing a rare opportunity to simulate the formation of a digital twin economy in the metaverse, with nearly 2,000 unique players joining our BETA so far. Although it may seem like fun and games, play-to-earn mechanics actually require economic research to be executed in a fair, enjoyable manner. We hope that this article provides a glimpse into some of the economic stimulus principles with which we have experimented, and also serves as a resource for other projects seeking to launch their own play-to-earn experiences.
Contents
- BETA Token
- Functionality
- Distribution
- Reward Mechanisms
- Economy Foundations
- Admin Shops
- Player Shops
- Jobs
- Theories and Tests
- Government
- Propaganda
- Subsidies
- Scarcity and Abundance
- Government
- The Economy After BETA
- $WRLD Integrations
- Protect wilderness land for $WRLD
- Rent housing units and shops in the city for $WRLD
- Rent poster space in the popular areas for $WRLD
- Hire other players for $WRLD
- Learn new skills and complete quests for $WRLD
- Conclusion
BETA Token
Functionality
RUNES are the token we have created to track player progress and participation during our BETA test. RUNES are not a cryptocurrency, and never will be. They are simply an in-game method of tracking player progress, and they hold no inherent financial value. As BETA progresses we will release guidance on the total supply of RUNES and WRLD in the liquidity pool, and hence the exchange rate. RUNES will also be exchangeable for exclusive NFTs.
Distribution
RUNES can be earned by selling resources to admin shops in the Trading Bazaar, Freyagard Spawn Area, and various shops located around the central map area. RUNES can also be earned by completing quests and joining jobs. Soon, we will remove admin shops and jobs so that the total supply of RUNES is capped. When this stage is complete we will be able to announce the value of RUNES in $WRLD token, as well as our plans for implementing an exchange system.
Players have already begun building large homesteads and automatic farms in the Wild. We have experimented with several core resources, such as sugar cane, cacti, melons, and cooked mutton. As a result, players have focused on building the most efficient farms for each of these resources. We asked players to share some photos of their hidden bases - the foundation of MUSE Oraia’s early economy.
Since our P2E BETA has gone live, players have taken to Discord to discuss the most efficient methods of earning RUNES. Players are passionate about which method they believe to be the most profitable or efficient, taking various factors into account. For example, cactus farms are easier to build but produce less, while sugar cane farms are more difficult to build but produce more. Melon farms, however, are undeniably the most efficient.
Reward Mechanisms
Players will be rewarded for their participation in our BETA test. Once the total amount of RUNES has been capped, we will announce the exchange rate for WRLD tokens, as well as the mechanics for claiming your WRLD. RUNES will then be burnt and a figment of MUSE dao’s history. RUNES can also be traded in for exclusive NFTs. The player with the highest balance of RUNES will be awarded an OG member token in the DAO, and several of the other top performers will receive Thoth NFTs, which also provide membership in the DAO. Finally, players can choose to spend RUNES to purchase certain properties after our housing unit airdrop. We believe this is the fairest way to reward our earliest supporters and BETA testers - the true OGs who have dealt with extreme lag and countless bugs while we sort through this whole metaverse thing. Although RUNES have no economic value, we will ensure that all early participants in building MUSE Oraia are rewarded adequately.
Economy Foundations
Admin Shops
Admin Shops have provided the foundation for the distribution of RUNES to players. The majority of Admin Shops are currently located at the Nordurgar Trading Bazaar, where players can frequently be seen trading their hard-earned resources with shopkeepers. When an item is sold to an admin shop, RUNES are created and sent to the player. When an item is bought from an admin shop, those RUNES are permanently removed from circulation.
Player Shops
Admin Shops will soon be closed, which will cap the total circulation of RUNES. From this point forward, players will be able to start their own shops to buy and sell in an open market format. This will be our second phase of BETA testing, which will provide insights into how players value different goods, as well as how that value translates to RUNES. All of this testing will be crucial to the successful roll-out of P2E mechanisms, as we must launch in the most equitable and enjoyable way possible.
Jobs
We implemented jobs as a method of incentivizing certain in-game behaviors, and rewarding less-involved players for their participation. Although we have only implemented one test job, Go Fish, jobs will take on a larger role in our world’s economy. We are hoping to introduce the capability of hiring other players as part of the job functionality, as labor is the most vital component of any functioning economy.
Theories and Tests
After five days of observation, we have already noticed an interesting trend in the distribution of tokens.
As we near the completion of our first week, the growth in new supply of RUNES has drastically reduced. It appears that the market for RUNES as a currency is becoming more developed as their in-game utility increases. Also, this decreasing growth rate is natural as the total supply increases vastly. Although we are still planning on imposing a hard cap on the circulation of RUNES shortly, it is interesting to test market dynamics which naturally maintain the total supply around an equilibrium.
Government
Given MUSE dao’s intention of building a digital twin metaverse, in which our virtual world contains all of the primary aspects of the real world, governments play a significant role throughout MUSE Oraia. Two powerful nations dominate the landscape in MUSE Oraia, with an expansive wilderness area surrounding. Nordurgar is a powerful monarchy, which prides itself on economic progress and development. Freyagard is a peaceful democracy which favors the arts and intellectual pursuits.
As MUSE Oraia evolves, players will find themselves interacting with these virtual governments far more. These governments will ensure the efficient management and development of resources, as well as dictate import/export rules, trading tariffs, subsidies and more. Further down the line, governments will require a tax for all transactions, and a full token governance mechanism will be built out.
Currently, there are several primary government organizations with which players can interact today. First, the Freyagard National Park Stewards are a council of ten members who govern and own the protected national park area. Second, the Freyagard Agriculture Commission is composed of all farmland owners. Third, the NFT Institute Curators are a panel of 25 members with control over the DAO art grant fund as well as new acquisitions and exhibition rotation.
Propaganda
As part of an effort to encourage players to grow melons instead of sugar cane, we launched a propaganda campaign around MUSE Oraia. Imagery depicted slogans such as “Be Good. Grow Melons”, as well as “Growing Melons = Strong Nation”. In the following days, melon farming quickly became the most popular farm construction in MUSE Oraia.
Besides the melon propaganda, we are working to establish some personality behind each virtual nation.
Subsidies
As our world transitions away from Admin Shops and into the realm of open player markets, we will begin experimenting with subsidies and their impact on the economy. Currently, all economic activity in MUSE Oraia is subsidized by Admin Shops. However, in a world where Player Shops can actively compete with Admin Shops, Admin Shops may take on a new role providing subsidies to incentivize particular behaviors we would like to encourage.
Scarcity and Abundance
When MUSE Oraia first went live on a Minecraft server, there were still several loopholes which enabled certain command permissions for unauthorized users. As a result, several players created large storage vaults of the most valuable materials, including the best enchantments. While we continue to remove players who took advantage of our early systems, we have found that the best way to combat their actions has been to assign value to other goods instead before opening the full player markets.
Super-enchanted shovels are great, but you’re still going to have to use it to farm one of the goods that can be converted to RUNES, otherwise your shovel is worthless in the real world. By choosing only goods which must be actively farmed to be acquired, we can ensure that players are actually “playing” to earn.
Another method we have explored in achieving this goal has been the creation of in-game items that cannot be counterfeited. Examples of this are the decorative tiles around Spawn, as well as NFT artworks, flags, and unique mementos. Items such as these create a deflationary pressure on RUNES, as they often are sold at a high premium. In addition, future in-game utility will make items such as these a valuable RUNE investment.
As we progressed through our first week of BETA, however, I noticed an increasing volume of player-to-player item trades. Some players who wanted to expand their farms were paying top dollar for stacks of dirt, and a few were even offering a free shovel if you did the job for them! Without even building the infrastructure for open player markets, the markets have formed on their own! In response, we opened shops where players can buy large quantities of dirt at once. Actions like these are a win-win: it reduces the total supply of RUNES while providing a player with a resource that is otherwise tedious to collect. Once we have thoroughly tested and established all necessary foundations, our goal is to remain laissez-faire in the development of MUSE Oraia’s economy.
The Economy After BETA
BETA has been enormously helpful in preparing MUSE Oraia for showtime. Although RUNES will no longer remain as our in-game currency after BETA is complete, the economy you have helped build will stick around! Our goal is to transition the entire economy over to the $WRLD ecosystem as soon as all our systems and the NFT Worlds platform are perfectly ready to go. With this transition we will provide an exchange rate between RUNES and $WRLD, as well as a list of exclusive NFTs you can redeem.
Utilizing what we learned during BETA, we will continue to fine-tune various economic procedures. We will continue to study the development of this economy to share our findings with the world, as well as keep a close track over any potential loopholes or inefficiencies. MUSE Oraia will be a fully self-sufficient economy, and once running, it should be able to finance its own P2E mechanisms without additional inputs from the MUSEdao treasury or NFT Worlds faucets, although both will remain available.
$WRLD Integrations
Protect Wilderness Land for $WRLD
The only rule in the Wild is no cheating, so players are prone to having their base raided at any moment. With the upcoming integration of WRLD Payments API we will be able to offer wilderness protection. Players will be able to rent designated parcels for an affordable sum of $WRLD, ranging in terms from 1 week to 1 year. Protecting chests will also require $WRLD, unless the chest is in land that you own or are currently renting.
Rent Housing Units and Shops in the City for $WRLD
Owners of Housing Units and Shop Stalls can decide to put their property up for rent with a designated price and term. Renters will then be able to use the land however they please, as though they are the new temporary owner.
Rent Poster Space in Popular Areas for $WRLD
We will have poster space dispersed throughout MUSE Oraia. Spots can be rented for a set fee of $WRLD and a one-day maximum term. We will introduce sign ownership so players can make a passive income from poster rental.
Hire Other Players for $WRLD
We will integrate jobs into the open market so players can post and accept job listings.
Learn New Skills and Complete Quests for $WRLD
Like the Muses, our goal is to inspire you to learn and create. Thus, we have already launched several quests with learning as the primary goal. Learn 2 Earn will be the primary application of funds received through the $WRLD faucet.
Conclusion
Although something with “play” in the name sounds like a dandy walk in the park, we are approaching the full launch of P2E with intense analysis and unwavering scrutiny. We now understand that this is a rare opportunity to study economics, and are jumping at the opportunity to record our findings. As we progress, we will begin making organized scientific efforts to actually test our hypotheses.
If you have participated in our BETA testing, we thank you from the bottom of our hearts. It has been incredibly rewarding building this metaverse while people actively play in it, and it’s been so inspiring watching people from around the world unite over virtual melon farming. Keep up the hard work!
