Moon Now developed tokenization and monetization strategy to improve onboarding into the Ready Games Network ecosystem.
Ready Games Network is a multi-chain GameFi platform that asked to create a tokenomics economy to ensure long term sustainability and equity for players and developer
Moon Now used the Monetization Sprint from the The Moon Method* Methodology to research price discovery and develop a cohesive tokenomics model that made it easy to onboard into the ecosystem and maintained fairness for late comers.
Here are the key findings from building and analyzing the model:
Peg entry costs to a flat FIAT so that later entrants to your ecosystem are not priced out. To do this, create an exchange rate between the entry tokens required and the FIAT entry price. The entry tokens to FIAT exchange rate can be recalculated based on either a planned schedule or the open market FIAT cost per token.
Utility tokens should have a programmatic mechanism to move tokens into circulation prior to the period max supply is reached. If no programmatic mechanism is created, all the tokens minted will be put in circulation, which will artificially create downward pressure on the token price. The best programmatic mechanism is to award new tokens when an in-game action is completed. The in-game action should be tied to the core value proposition of the utility the token provides.
Most GameFi tokens only build the economy around upward price momentum. Utility tokens should also plan for price death spirals. To prevent death spirals in utility token prices, make sure there are adequate levers in place for the DAO to manage scarcity of the tokens in circulation. Plan to have at least 5 levers available to manage scarcity.
*The Moon Method is a Research, Testing, and Optimization framework to ensure Product Market Fit, Organic Acquisition Loops, and Profitable Monetization.