Sumit BeraFri, Oct 15, 2021 5:35 PM
Cronics: Play-To-Earn Economy Launches on the Internet Computer
Cronic Critters were the first NFTs to launch on the Internet Computer in July of 2021. 6,000 Gen-0 Croncis were minted, 5,000 were sold for a mint price of 0.2 ICP (~ 8 USD at the time), and 1,000 were held by the team and given to supporters in the community. Cronics are currently selling for a minimum of 9 ICP (~400 USD). The Cronic collection has seen over 25,000 ICP in trading volume since its launch.
Due to the community's enthusiasm, the Cronics team at Toniq Labs decided to take the project to the next level and built out a play-to-earn economy. This economy incorporates breeding, wearable NFTs, and mini-games. Breeding and Mini-games will go live at the end of the final sale of the Gen0 Cronics.
The initial max supply of Cronics was set at 25,000 Gen-0. The team and community decided to reduce this number to 11,000 Gen-0. The last 5,000 Gen-0 will go on sale October 19th using a dutch auction model. There is no whitelist so anyone can participate. Read more about the sale details here.
How Does the P2E Economy Work?
Users can buy Cronics on the Entrepot.app and store them in their StoicWallet. Users can then use their Cronics in a variety of mini-games to earn Cronic Token (CRN). Users can also earn CRN via siring. Siring is where a Cronic holder lists their Cronic for CRN, and then another user can pay CRN to use their Cronic to breed one for themselves.
CRN can be spent to breed new Cronics from existing ones. The team is developing a token swap so CRN can be bought and sold for ICP.
Gen-0 are Eternal Breeders
The team at Toniq Labs has implemented a generation sterility mechanism to manage supply so that anyone can enter at a low cost but also build value for early supporters and owners of Gen0 Cronics. There are five possible generations of Cronics, the higher the generation the less a Cronic can breed. The structure is as follows:
Gen-0: Can breed ∞ number of times
Gen-1: Can breed 7 times
Gen-2: Can breed 4 times
Gen-3: Can breed 2 times
Gen-4: Can breed 1 time
Gen-5: Born sterile
This structure makes Gen-0 by far the most valuable Cronics from a breeding perspective. All Cronics on Entrepot prior to November are Gen-0 and all Cronics in the October 19th sale will be Gen0 as well. Read more about breeding and supply here.
Keeping it Fun!
The team at Toniq Labs wanted to ensure that the game was fun as well as profitable for players. Rather than build out one complex game, they decided to take a mini-game approach where users can select from a library of mini-games to choose from and earn CRN.
Battle Stats and Classes
Cronics have unique battle stats and classes (Assassin, Bruiser, Paladin, Guardian, Sorcerer). You can see the unique attributes of your Cronics on NFTVillage.ai. These attributes are used across different mini-games and allow you to customize your build and play style.
Cronics can be customized with wearables. These are NFTs accessories that can be added to or removed from Cronics. The Cronic owns the wearables that you send to it, allowing for infinite customization. More wearables will be added over time!
There have been three games announced so far and the team plans to add many more over time.
- Cronic Battle - An auto chess-like PVP game where users build a team and battle other Cronics.
- Beauty Tour - A staking-like game where you enter your Cronics into beauty competitions. A random theme is chosen and 10 random judges vote on which Cronics best matches the theme.
- Cronic Crusade - A rogue-like PVE deck-building game where you build a deck and fight monsters!
The team behind Cronics is unparalleled on the internet computer. Toniq Labs is responsible for some of the most popular dApps including Entrepot Marketplace, Stoic Wallet, Rise of the Magni, and Wrapped Trillion Cycles.
Toniq Labs has been operating on the internet computer since genesis and continues to provide new and exciting products to the community. By credibility, we can expect Cronics to be of the highest quality and continue to grow!