Utility Token

World of Midgard tokenomics part 1 — P2E Utility Token
Version 1.1
There are two tokens planned for World of Midgard 3D NFT MMORPG.
The governance token and the utility token.
This post is about the unity token only.
In this post, I will call the utility token WOMGOLD, but in the future the name for the token is going to be different.
To ensure fair launch for everybody there will not be any pre-sale or public offering of any kind for WOMGOLD token.
Developers will not get any WOMGOLD tokens either.
It means that the WOMGOLD will be 100% community driven.
The main way to acquire tokens will be by playing the game.
Current pre-blockchain World Of Midgard Classic game, which from this point on I will be calling Midgard Rising, already has a vibrant and balanced gold economy with heavy gold sink until the character level is close to max.
The max level in the Midgard Rising game is the level on which players can actually start to earn the most gold.
In the Midgard Rising game Gold consists of 100 silver, and silver consists of 100 copper which is the smallest unit in the game.
It means that 1 gold consists of 10,000 copper.
In World Of Midgard NFT MMORPG gold will be replaced with WOMGOLD utility token with 4 token decimals allowing the entire game economy to be based on WOMGOLD with smallest unit 1 copper equal 0.0001 WOMGOLD.
Since until the the level close to max the gold and therefore WOMGOLD is already balanced, the most of the new earning/mint vs sink/burn economy balancing in World Of Midgard will be focused on top levels of the game.
There are many ways players will be able to earn WOMGOLD without minting it.
For example, earning WOMGOLD from other players does not mint new WOMGOLD.
Also, landlords, merchants, and character lenders earn WOMGOLD from other players so it does not increase the amount of tokens in circulation.
Same goes for hired guild managers, tanks/healers hired by guilds and/or for dungeon & raids, and any other services players provide for other players like charming gear to higher starts etc.
In addition, all transactions on in-game auction house, skill based Arena and Battleground matches, are also player to player.
These examples are not included on the list below.
The below list only includes player earnings related to minting new WOMGOLD tokens.
looting WOMGOLD from creatures in the open world,
sharing proportional part of WOMGOLD dungeon/raid team WOMGOLD drops,
completing both one time and daily quests,
selling looted items to NPC merchants instead of to other players on auction houses. Those are usually common low quality cheap items.
mining and resource gathering, but those would be almost entirely acquired by other players and burned during crafting.
Because the Midgard Rising game was originally designed as free-to-play game with gold sales in the item shop being one of the main sources of income, the gameplay either requires really long time to acquire enough gold needed for smooth leveling, or to buy gold which in case of World Of Midgard will be buying WOMGOLD on exchanges.
There are many gold sinks in Midgard Rising therefore below listed player spending will be also WOMGOLD token burn in World Of Midgard.
Below are listed only already existing gold/WOMGOLD sink/burn methods, which remove it from circulation completely.
Note that the players will actually need to spend more gold/WOMGOLD while leveling but the other spending would be player-to-player transactions which does not change total WOMGOLD token amount.
Leveling up spells and skill. There are a lot of spells and many levels of each spell for every trait tree. Players must level at least some of the spells every few levels to be able to be able to combat foes. With the current economy, the character will not have enough WOMGOLD to even pay to level all the spells from one trait tree without spending a lot of time on WOMGOLD farming or buying it on exchange just to spend/burn it right after.
Gear repairs. Every gear piece has assigned durability, which decreases slightly with each combat and significantly on player’s character deaths. Gears repairs are free until the character level 10, and then repairs cost increasingly more with item score. The higher gear score of the item the higher repair cost. The character needs gear with increasingly higher scores to progress in the game. High end gear could be really expensive to repair, especially for plate armor wearers. It takes just a few character’s deaths, and the player needs to repair its gear.
Crafting is a massive WOMGOLD sink/burn during training. Many crafting trades have well over hundred spells and recipes to learn. Crafting also burns a lot of raw materials from mining and resource gathering. Also, the majority of items resulting from crafting are consumable (aka burnable) like potions, elixirs, food, temporary items stats boosts, armor patches, permanent armor starts charming etc.
Traits tree resets. Trait tree reset starts from 1 gold/ WOMGOLD token burn on the first reset and significantly increases with each trait tree reset for the same character. The reset is needed for the character to change the trait tree. It also brings extra significant token burn due to the need to pay for many new spells and all the levels for those new spells.
Buying XP boosters. It happens over and over again during leavening because XP boosters only work for a limited amount of XP gained. XP boosters allow the players to double the XP they gain from defeating foels during leveling. The higher the player’s level the more they crave XP boosters.
Buying teleport stones. Teleporting saves players a lot of time on in-game travel and with the vast game world it makes sense to some players to spend much less time travelling and much more time actually playing and earning.
In order to balance WOMGOLD on the max and close to max characters levels, 4 new game features are planned to be added to World Of Midgard.
Limit on max amount of gold per day a single playable character can earn.
Apprentice training. Training of new apprentices will cost a lot of WOMGOLD
Mounts breeding
Magic Bag recharges. In order to be able to collect dropped loot (both WOMGOLD or items) characters from level 30 up will need to have a charged Magic Bag. Players must first acquire Magic Bag either from dungeon bosses or an auction house, or rent them from a guild. Magic Bag discharges over time. WOMGOLD cost of Magic Bad recharge will depend on the level of the character. Pre-game only: those who will not list their Genesis characters for sale before the game releases will receive their Magic Bag airdrop for free. (side note: there will be many more free airdrops of the game’s important items, including Genesis mounts for people who don’t list their Genesis character for sale before the game is released)
The game will be configured in a way that all those 4 parameters can be dynamically changed to balance the game.
As you can see from the above description WOMGOLD is a true utility token in a very advanced game economy for players to enjoy.
Last modified 1yr ago