Messari’s MapleStory Universe Deep Dive

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🍁 Messari Maplestory Universe Deep Dive after Whitepaper Launch

Crypto research firm Messari has published an extensive analysis of Maplestory Universe (MSU). MapleStory Universe is a virtual world ecosystem designed to host applications built from the MapleStory IP, which has accrued over $5bn in lifetime revenue.

Key Points:

• Maplestory Universe is built on three pillars: MapleStory N (a PC-based MMORPG), Synergy Apps (third-party applications), and the MapleStory SDK (developer tools)

• It introduces Reward Experience (RX) 2.0, a player-driven item economy designed to address the challenges of inflationary item supply and obsolescence that plague traditional MMORPGs.

• Nexon recently shifted from Polygon to building its own Avalanche L1 blockchain called "Henesys" using AvaCloud for better customization

• The project has already shown strong engagement metrics, with their Second Pioneer Test seeing user count surge from 3,243 to 119,767

• Messari's analysis suggests MSU could be a blueprint for traditional gaming companies entering Web3 by prioritizing gameplay over token speculation

Gaming Crypto Take:

• Next generation tokenomics: A lot of blockchain games fail because of bad tokenomics. Maple Story Universe may still struggle in this regard, but its dual token economy and separating in game asset from tradable, on-market token is smart – and something we are seeing more in infrastructure as well. 

• Avalanche is gaining ground in gaming: Although Shrapnel looks like it may fail, Avalanche now have two of the most exciting games in their ecosystem with Off The Grid and Maple Story Universe. They are using a quality > quantity approach. 

• Will Major IP bring Mainstreaming? The question on everyone’s lips is whether or not mainstream Web3 games will come where audiences already exist, or built from the ground up with stickier.

🌳 Ethereum Game 'Treeverse' Launching First Rewards Season on Immutable

Treeverse, the highly anticipated Ethereum-based MMORPG , has announced a play-to-airdrop campaign, which not only includes their native token END, but also Pixelmon (MON) and Immutable (IMX).

Key Points:

• Players can earn rewards through daily quests, reaching specific skill levels, and competing on leaderboards that track dungeon runs, gold acquisition, experience points, and monster shard collection. 

• The crypto rewards include multipliers for players who hold partner tokens or own specific NFTs from Treeverse's previous collections.

• Alongside the season launch, Treeverse will be deploying its first NFTs on the Immutable zkEVM blockchain, divided into non-tradable soulbound tokens and tradable "Crowns" with a limit of one per digital wallet.

Gaming Crypto Take:

• Tokenomics in Gaming is difficult, but Treeverse have created a complex model with a myriad of sinks, and it will be interesting to watch the price action of their native END token going forward. 

• Many of the game's early backers will have purchased Treeverse NFTs at big premiums early in the development of the game, which are now more than 90% down in ETH terms. There is a constant push and pull for game devs to keep existing and early holders happy, with strong gameplay and sustainable tokenomic models.

🍬 Futureverse Acquires Candy Digital in Major Web3 Gaming Consolidation

Futureverse has announced the acquisition of Candy Digital, the NFT business backed by Gary Vaynerchuk, Galaxy Digital, and Consensys. 

This deal marks significant consolidation in the Web3 space and comes just 18 months after Candy Digital merged with Palm NFT Studio, and roughly two years after Fanatics and Michael Rubin divested their 60% stake at a reported loss.

Key Points:

• Futureverse, one of New Zealand's highest-valued tech startups after a $54 million Series A in July 2023, has transformed from an NFT project merger into a full-stack technology company, with extensive experience in Metaverse gaming

• The acquisition integrates Candy's valuable IP relationships (MLB, DC Comics) with Futureverse's comprehensive tech stack including The Root Network (Layer 1 blockchain), Futureverse Pass (one-click onboarding), and Connectibles (digital rights manager)

• Matt Novogratz, Co-Founder & SVP of Candy Digital, called the merger "a natural move" that combines their fan-focused programs with Futureverse's technology

• Candy's content library will be integrated into The Root Network, embedding IP protection directly on-chain instead of relying on traditional legal frameworks

• This represents the largest merger in the Web3 space since Nike acquired RTFKT in late 2021, potentially signaling the start of more market consolidation

• Futureverse famously acquired rights to Ready Player One’s IP, making ‘Readyverse’ a fully playable Metaverse game using Futureverse’s technology.

Gaming Crypto Take:

• Michael Rubin's 2022 claim that "NFTs are unlikely to be sustainable as a standalone business" appears increasingly correct 

• The NFT pure-play model is dead, and infrastructure is king

• Futureverse has smartly pivoted from being an NFT collection to becoming a technology ecosystem

• Candy Digital have premium IP, and it will be interesting to see to what extent Futureverse are able to cross-pollinate that within their gaming verticals