Colony Online is leading the wave of innovation in the GameFi space, integrating blockchain technology with a familiar video game experience.
There is Room for Innovation in the Video Game Space
Over the last five years, our global ecosystem has seen a massive increase in accepting two popular growing fields: Esports and Crypto. These two fields have become everyday staples that influence how younger generations interact with our tech ecosystems. Through advances in video games and innovations in blockchain technology(often referred to as Web3) w, we see these two fields merge into a massively underrated industry called GameFi or gaming finance.
Web3 will be a driving force of a new breed of gamers, and Colony Online is leading the charge. In this new space, we can experience the weld between leisure-time and the ability to acquire real tangible assets that can be later bought and sold among many rising communities.
The 6 Reasons Why Colony Online is a Blockchain Game:
When Web3 users orNFT collectors think about blockchain gaming, their minds automatically run to third-world countries with impoverished players hunched over PCs earning their new living in the digital age playing online games for cryptocurrency. While changing the face of whole economies throughout many unbanked parts of the world, these play-to-earn features are just one small part of what makes blockchain-based games the future of entertainment. Many other more essential elements of blockchain gaming make it the logical choice for us at Colony Online to utilize.
1: True Ownership of your Digital Items
One of the worst feelings a player can have after spending dozens—if not hundreds—of hours playing a game and achieving great and rare items is to have those items disappear in a flash when a game is shut down. Games can end for many reasons, from company bankruptcy to the company simply moving on from the product, but once their dedicated game servers are gone, so is all the data and that means players' items. But blockchain games, especially those with NFTs, make use of a critical design feature which is that the chain is immutable.
There is no central location that a company can take down, there are innumerable copies across the entire blockchain, and a player's digital items stay with them in their wallet. This accurate digital ownership also allows players to exchange scarce goods on common marketplaces not controlled by a game company. Ownership is built right into the smart contract and is simply transferred as a sales transaction. Colony Online is keeping with this spirit because all the Colonists are NFTs that can be sold along with all their cosmetic items.
2: Intentional Scarcity of Goods
What makes an item rare in a game is as simple as how few of whatever things there are in the world. In Colony Online, there will be plenty of unique and rare cosmetic items for players to purchase that will be highly collectible because of their aesthetics, their Drip score value, and how few of them get released. Part of the appeal of Colony Online is the status scoring granted by owning a particular good.
As any OG or Beta player that is early to a game will tell you, there is a certain prestige to owning the earlier items. Likewise, there is status from owning rare items just as there is in the real world. The Colonist traits will never be recreated outside of the initial drop, so there is already a limited supply. Then throughout the lifecycle of the game, rare products, numbering in the hundreds or less, will be introduced gradually, whether from IRL partners like street wear and fashion brands or designed by our own in-house talent. There will be rare goods available for the discerning player and a reason to buy them.
With the blockchain and NFTs, the uniqueness of digital goods is entirely provable, so it is not as if a bad actor can make a knock-off Balenciaga by copying the code. It also creates an in-game balance based on authenticity. Players do not have to worry about individuals who found an exploit in the game and now have all the best stuff that they can sell back on the market. The NFTs exist on-chain, and the provenance of ownership is visible to anyone who cares to look. Only the company has the power to add and remove items (minting and burning).
3: Security and Authenticity
There are many befits in security when using a blockchain as the infrastructure for a Play-2-EarnSocial MMO like Colony Online. Even as video games have become part of daily life, there is still a level of security that is in question. Many people have experienced stolen account logins or have seen their accounts get hacked in other ways.
A hacked player may even see all their time and hard work has been siphoned off into another player's account. But users of a blockchain-based game will be able to hold on to their private keys and maintain their security. These keys are never stored in a centralized location, which means the only way for a security breach is to share those keys with other individuals. There are other valuable features of blockchains in general, such as security measures, fraud protection, and identity verification, while especially crucial for all blockchain apps, are not specific to blockchain gaming.
Fraud prevention is built into all blockchain applications because blockchains are difficult to hack or spoof by their very nature. This, along with multiple layers of know-your-customer (KYC)security in blockchain applications helps prevent attacks that are not socially engineered. Likewise, wallet-based logins will consolidate and protect user identity while ultimately allowing wider use as generalized ID and access key across the entire space. Colony Online will reap all these security benefits as an NFT-based (and therefore blockchain-based) game.
4: An Empowered Community
Colony Online is not organized as a DAO (Digital Autonomous Organization) where token owners can directly decide the project's future where one token equals one vote or whatever. However, the blockchain-based nature of the NFTs in our game enables us to directly measure which tokens are being spent on what aspects of the game and which players own what Colonist NFTs and where they are being played or staked.
Community empowerment will allow us to make decisions for the ongoing LiveOps of the game that can best serve all the players using real time metric data. And all the actions by every player are provable. In a way, this lets the community "vote with their feet" so to speak, letting us know where we are doing a good job or where we need to focus our efforts to improve the project. When combined with our tight knit Twitter and Discord communities and their honest and deep feedback, we can promise Colony Online will be an incredibly responsive and adaptable game for players to enjoy for a long time.
5: Avoiding Purchase Regret
Purchase regret is a very real phenomenon in the MMO space where something bought by a player is no longer worth the attention, time, and usually real money it took to acquire it. Often the game team will have to come up with new items that render the old ones useless to players. In most cases this is because the developers are busy trying to cater to long term players who always need more power and better goods to have the incentive to continue buying.
In a game where there is no real marketplace for a player to offload their items or where the items lose their use—or even had no utility in the first place—players find themselves rapidly unwilling to spend to acquire something that's going to be useless by the next upgrade or new season.
However, in Colony Online our game items can be bought and sold by players, whether it's inventoried cosmetics sold along with Colonist NFTs or goods like Hovercars and even Compadres. If a player is tired of something they don't have to just deal with it, they can sell it. As more items are introduced into the game players can cycle through their old goods to get the new ones. But because of the built-in scarcity of the original items, new players will always have an incentive to get in on the earlier or rarer items: A win-win for old and new players alike.
6: Pace of Play that Enables More than Power Players
In any given MMO there tends to be multiple styles of play. The players always crave power and want to deck out their characters with the most powerful, rare, or expensive items. However, there are also players who have more time on their hands and want to explore or settle down and mine, or fish, or craft, performing any of the functions that require a different set of tasks than just completing missions or grabbing loot.
Colony Online like many MMOs will foster both styles of play to a certain extent. Any player with a Colonist can jump right in and spend money to acquire our utility token and drip out their Colonist with the dopest fashions right away. But Colony Online will also enable mining where patient players can spend their time building up their in-game token reserves to spend later and purchase cosmetic items. These patient players can then sell their drippy Colonist to other players at their leisure. Because Colony Online is a blockchain game with both NFTs and a utility token, players can choose the pace they want to play without worrying that the rich will dominate outright.
As a final note, nowhere am I saying that there aren't detrimental features to blockchain gaming that need to be addressed. There are barriers to entry such as the knowledge required to set up a wallet, load it with crypto, and enter a game, or the high cost of the NFT assets themselves when released on level one chains like Ethereum. Although for our part we kept our mint price very low compared to other project launches for this very reason.
However, these obstacles will be overcome with mainstreaming, whether it's markets like OpenSea and Coinbase adopting credit cards and standardizing KYC restrictions or easing transaction costs such as when the Ethereum network switches to proof of stake and gas costs are reduced dramatically. Blockchain gaming will naturally supplant centralized "old think" games—and their companies. For Colony Online the available advantages we can realize right now outweigh any short-term disadvantages.