The Legends of Aria Economy: A One-Token Model
For the new launch of Legends of Aria, we’re planning to use a one-token economic model, centering around the Legends of Aria (or ARIA) tokens.
Token Deflation
With this new model, we’re making $ARIA a deflationary currency, burning it every time the tokens are spent in-game or on our NFT marketplace. For example, any time the tokens are used to buy something in our in-game store, used to purchase a guild charter or jail exit pass, or used for NFT mating, item merging, or any other process, the tokens are burned and removed from circulation.
Almost all utility for the token will contribute to a continually decreasing supply, and (aside from the initial mint) there is no mechanism to increase or inflate the supply.
In-Game Currency & Earnings
The in-game currency in Legends of Aria, gold, will not be launched as a cryptocurrency, neither can it be minted as an NFT, meaning that players cannot directly earn money by collecting gold coins. Instead, they can use their gold coins to purchase virtual assets like weapons, armor, and houses, which can then be minted into an NFT and sold on our marketplace.
There are no ways to earn ARIA tokens in the game, except for select giveaways and prizes for participating in community events.
Reasoning Behind Changes
With a dual-token economy, all economic simulations showed that the in-game rewards currency (the gold coins) would eventually plummet in price as more players sell the tokens for earnings. This price impact can be negated temporarily by creative sinks for the currency and price control mechanisms, but ultimately all data and analysts show that it is unsustainable.
The traditional dual-token play-to-earn model requires a continual increase in players and cash flow into the economy, but will falter once these numbers stop dropping. Many have compared this play-to-earn approach to that of a Ponzi scheme:
- https://creatoreconomy.so/p/is-play-to-earn-gaming-a-ponzi-scheme
- https://blog.cryptostars.is/play-2-earn-gaming-is-it-over-before-it-begun-a7577d39538
- https://www.bsc.news/post/are-playtoearn-games-a-ponzi
- https://www.vice.com/en/article/4axgn9/stepn-move-to-earn-games-try-to-convince-doubters-theyre-not-ponzis
Conclusion
Given this data, our new approach to Legends of Aria is to focus on improving the game, making it more fun, and focusing less on the promise of earnings. And, with $ARIA as the single token behind our game, and the new deflationary aspects, we are now more bullish on its potential than ever!
For more Legends of Aria updates and information, check out our:
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Blog: https://legendsofaria.medium.com/
New Website: https://www.legendsofaria.io
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Whitepaper: https://whitepaper.legendsofaria.com/
