CropBytes is a farming business game built in a real-world economy, with digital game assets and real markets. Building for over four years and improvising the game over multiple market cycles have resulted in over 650,000 signups with an average of 9,000–12,000 daily active users. The game is available on iOS, Android and web application with an average rating of 4.3 in app stores. CropBytes hosts one of the oldest crypto gaming communities that’s spread over 16 regional groups, each of which is managed and moderated by players.
Focus on fungibility and sustainable economics
The decision to move away from nonfungible token (NFT)-only assets to fungible assets was made by the team in the last bear market of 2019 and has helped in maintaining liquidity in all game asset markets, thereby benefiting players over the long run. The focus has always been on the sustainability of the game economy. CropBytes is the first contributor to Tegronomics, which is an open-source framework that is being adopted by many crypto games.
CBX is the currency of the CropBytes metaverse, which is a cryptocurrency on the Ethereum blockchain. CBX follows a deflationary supply protocol similar to that of Bitcoin (BTC), and players can mine CBX by conducting daily farming activities.
Asset mining, the most awaited feature release
CropBytes’ assets are highly sought after, limited in supply and backed by the economics of fungibility. This has led to game asset value growing over 100x since they were first released. With the recent launch of asset mining, players are able to generate a new supply of these game assets. With the launch, other items like extracts and utilities in the game produced by farmers have found more use cases.
On average, 1 million assets are traded on the in-game exchange daily, and the numbers are growing with the release of asset mining, as there is now a new use case for related assets.
Source: TradingView
Fun gameplay and sustainable economics will always be at the heart of CropBytes. The team has lined up some exciting and much-awaited feature releases for 2022.
CBX Mining v2: A new method of CBX mining will be introduced with new logic. With the new method, users will also have a chance to receive a bonus for mining. The changes planned here will result in a higher burn rate for extracts and utilities. Farmers will be able to craft various items using their extracts, which will be used to mine CBX. Power will also have extra utilities for CBX mining.
Tokenization of assets: CropBytes’ assets will soon be launched on the Polygon blockchain. Users will be able to track live mining data in the game, which will also open up doors to the entire gaming community on Polygon.
Gaming jobs in the CropBytes metaverse: CropBytes is spearheading the next evolution in Web3 gaming. By developing a service economy model, CropBytes is making play-to-earn sustainable. The service economy will make CropBytes a free-to-play-and-earn game.
“The concept of a service economy can be applied to all aspects of life, not just video games. The general idea is that those with money will want to pay others to do things for them that they don’t have time for. In CropBytes’ context, this could be something as small as paying someone to grow crops or feed animals. In the world of video games, it’s not uncommon for players who are loaded with in-game cash to outsource some of their playtime to others who might have more time on their hands.”
“Before the end of this year, the first-ever service economy feature in Web3 games will go live in CropBytes.”
Read more about the service economy model here: https://coinmarketcap.com/community/articles/35157
Raising Series A and previous rounds
CropBytes is now raising capital as a part of its Series A round. The funds gathered will be utilized toward improving the game experience and adding more layers to the economy that will make it easier to play and earn sustainably in the game.
In November 2021, CropBytes raised $2.67 million in a pre-sale seed round for its CBX token. It is also backed by crypto industry entrepreneurs, including Sandeep Nailwal, co-founder of Polygon; Siddharth Menon, founder of Tegro; as well as VC firms Draper Dragon, Exnetwork Capital and Master Ventures.
Visit CropBytes’ official website along with the white paper and its Telegram and Twitter channels for more information and regular updates. There’s a lot coming in CropBytes, so make sure to add CBX to your watchlist on CoinMarketCap.