The Blockchain game version of World of Warcraft. Will Faraland become the No.1 RPG on Binance Smart Chain? The article is the opinion of the authors from TK Ventures.
Introduction
World of Warcraft is one of the most popular and beloved games in history. It was a world with different races such as Orcs, Humans, Demons, Elves, and many other classes fighting and competing. Did you know that there is also a project with similar clans in the field of Blockchain Gaming?
That is Faraland, a Massively Multiplayer Online Role-Playing Game (MMORPG) based on Blockchain technology. In the game, the players use their NFT as heroes and compete with other players by learning skills, buying items, fighting, or doing quests to gain experience.
Market Overview
Play to earn is not a new form of gaming. It appeared a long time ago with the advent of games. But most of what players earn is limited by the game’s scope, not having much real-life value. Today, thanks to the development of NFT, technology has turned game items into valuable things. This has revolutionized the gaming market, making games more interesting, engaging, profitable, and meaningful for players.
Therefore the game sector is a very fast-growing market in the blockchain industry, especially with the increasing popularity of NFT. This market is expected to have great developments in the long term, not just instantaneously.
What is the main features of Faraland?
Gameplay
Clans in Faraland
There are 7 clans with different rarity in Faraland including: Human (50%), Orc (24.6%), Angel (0.2%), Dragonborn (1%), Demon (0.2%), ElF (20%) and Fairy (4%). The lower the ratio, the higher the rarity, the more profit you can make from selling them.
Attributes of Faraland’s heroes
All Heroes have four different attributes:
- Streng: Increase physical damage + HP + Physical defense
- Agi: Increase attack speed + moving speed on map + dodging chance
- Intelligent: Increase magic damage + accuracy + magic defense
- Luck: Increase critical hit rate
Bodyparts of characters in Faraland
Besides attributes, each character has six body parts, including hair, eyes, mouth, scars, tattoos, and skin. However, the number of Heroes with all six body parts is scarce. Usually, a Hero will have 4 to 5 body parts. Body parts are also classified by rarity; the higher the rarity, the greater the index. The rarity of body parts in order:
Type Advantages in the battle
Another factor is that it does not affect the stats but has a considerable impact on the battle. That is the type of advantage. Each Hero in Faraland will belong to one of the following eight types of advantage.: Fire – Water – Grass – Thunder – Rock – Ice – wing – Normal.
Each element will counter the other, just like in many traditional games like Pokemon or Yugi Oh.
Battle and other activities in Faraland
Faraland does not limit the number of heroes a player can have, but players can only use up to 3 heroes in each match. Through the battle, the attributes and strength of heroes will be greater, making the value of heroes more enhanced. In addition to participating in competitions, players can do daily quests or tournaments to earn FARA tokens.
Marketplace
Acts as a place of providing liquidity for in-game items. You can find everything you need, such as equipment, weapons, or characters. It also helps players easily exchange and trade with each other, to get more profit.
Paper: Papers are publicly available and transparent. Details can be found here.
The product status: Currently having game and still developing. You can read the roadmap below:
We are now in Phase 4; on September 30th, Faraland released the DAO Voting Function. The old milestones are also done quite well and on time, which increases players’ confidence and investors in the project’s execution team.
The project is also divided into phases to focus on the features in the best way. In particular, Faraland has a rather bold strategy, and few people do, which is to focus on the mobile version. Game Faraland will be available on Android and iOS in December this year (Tentative). With the advantage of easy access and many users, Faraland is promised to attract many players on mobile devices, which can help the price of Faraland tokens increase significantly.
How does the Token Economy of Faraland work?
Token Distribution
Token Name: Faraland Token.
Ticker: FARA.
Blockchain: Binance Smart Chain.
Token Standard: BEP-20.
Contract: 0xf4ed363144981d3a65f42e7d0dc54ff9eef559a1
Token type: Utility, Governance.
Total Supply: 100,000,000 FARA.
Circulating Supply: 11,361,186.99 FARA
The amount of tokens is distributed reasonably, but the rate of fundraising rounds takes a pretty big part, and the Lock – Vesting time is short, which can seriously affect the price. Looking at the token distribution, we can see that between now and the second half of 2022, the value of FARA will fluctuate significantly due to the unlocking and vesting of a large number of tokens in early funding rounds. However, high risk is high return, this can be an opportunity for you to make money quickly, or if you are a holder with “diamond hands,” it does not matter.
Token Utilities
In-game currency: You can use them for in-game activities such as upgrading items, raising FloorPrice (Max 100 BNB), changing the name or updating the character’s icons, or participating in the raffle for a chance to receive rare items.
Staking: You can stake $FARA to earn more passive income and exp.
Governance: FARA holders can join in Faraland DAOs to ask for the community’s opinions on critical project development decisions and vote for changes in Faraland such as market fees, up-grade of items, Gacha, Faraland Competitions,…
Network Valuation & Asset Pricing
FARA market cap is $49.3B with $5.8M volume in 24h. The top exchanges for trading in FARA are currently ZT, PancakeSwap (V2), LBank, MEXC, and AOFEX. Since the first listing, the price of FARA has increased by more than 668%, reaching $5.52 at All-Time High.
Unique Selling Point (USP) of Faraland
Floor Price
It’s a unique mechanism from Faraland. For each NFT hero who is summoned, 10% of the hero’s value adds to NFT’s floor price, which means your NFT has a minimum price since it’s minted, not like other projects, your heroes have no sure price.
Faraland also has many features to raise your heroes’ price:
- Whenever the heroes are traded on the marketplace, their floor price will be gained
- Players also can raise their floor price by using the BNB token. Later Faraland will change to use FARA token to raise heroes’ floor prices. It will increase the demand for FARA tokens.
Ownership
Besides exquisitely digital collectibles created using blockchain technology, all NFT in Faraland can also be integrated into Faraland games later, which will help them increase the value. Each Hero NFT of Faraland is unique and is indistinguishable from other NFTs. Each collectible is matchless, genuine, and varies in rarity. Literally, players own and do everything they want with them.
Faraland is different compared to other NFT projects in that NFT is just used for collection and no more. With the “play to earn” mechanism, their vision is to make Faraland become a “ new dream job” by bringing a stable income to players worldwide.
Marketing of Faraland: Do Well, But Not Perfect
Discord: Faraland – Battle of Crystal – There are more than 3500 active members.
Telegram: Contact @faraland_official – There are more than 86,000 members
Twitter: Faraland – Has more than 118,000 followers.
Medium: Faraland – Regularly post updates on the progress of the project and guide to play the game.
In general, the project has had a lot of suitable communication activities and built a loyal customer file. The proof is the media channels already have a relatively large number of followers and interactions. However, we can see a small problem: the vast disparity between the number of Twitter followers and Discord participants.
Discord is usually a place for gamers to discuss, while Twitter allows investors to update project status. Given the small number of Discord participants (just equal to 1/30th of the number of followers on Twitter), people are highly likely to view Faraland as a project to invest in rather than to play, affecting the value of $FARA in the long run. Hopefully, with new updates and the mobile version, Faraland can attract more players.
Who are the people behind Faraland?
Investor & Partner
Faraland was incubated by Icetea Labs and successfully raised $2.4 million from more than 24 investment funds and 500 angels investors for the early rounds. On May 29, after only 30 minutes of opening the NFT heroes sale, more than 3000 heroes in Faraland were summoned, making this multiplayer RPG NFT game one of the most anticipated NFT game projects.
In particular, Faraland recently established a partnership with TK Ventures, a venture capital firm focusing exclusively on early-stage decentralized finance, NFT, and Web3 projects. Their mission is to become a great supporter of ambitious founders in blockchain who are building the foundation of the decentralized web. As a result, Faraland can receive full marketing support from TK Venture’s homegrown media network with 250,000+ active members.
Team
Faraland was created by Moon Knight Labs, a Blockchain gaming company founded in Sept 2020. They are a group of senior developers, artists, organizers with more than ten years of experience in many areas and more than five years of experience working on Blockchain.
In addition, Faraland is advised and supported by a team of experienced advisors, many of whom are KOLs. Thanks to their solid financial strength and vast influence, they will quickly push Faraland to grow stronger in the future.
Conclusion
Faraland is a turn-based strategy & RPG that heroes as NFT can compete with other players by learning powerful skills, collecting rare equipment, recruiting troops, moving around the map, capturing resources, and joining battles. All heroes have mutually exclusive attributes, and after each match, they earn the experience, such that veteran heroes are significantly more powerful than inexperienced ones. The project is implemented by Moon Knight Labs, a young studio that brings together many experienced individuals and a team of influential advisors. These backgrounds have enabled the project to complete million-dollar funding rounds at an early stage the project. But everything has just begun; it is expected that by the end of 2020 to mid-2021, Faraland will see a huge boom. Let’s believe and look forward to it!
This deep dive is for informational purposes, not investment advice. Readers will be responsible for all their actions.
