Time for some updates on the Waxel World.
Currently we are working on the economy aspects of the Waxel World by crunching the numbers and talking with the DEVs what could be the best approach here. We need to find a good balance here in order to know what and especially how things should be developed the best way.
For this we made some assumptions on minting times to search for new “Citizens”, which then could be blended to create “Citizen with Profession [x]”.
These would then work / find new “Materials”, which then could be used to blend into new “Items”.
You can check out a visual example of this workflow in our last Waxel World News #2.
Based on the example numbers, if every single “Waxel Ninjas Collectible” would be used to search for new “Citizens” and every single “Citizen with Profession [x]” would be used to work / find new “Materials”, our contract would need to mint about 30,000 to 60,000 NFTs per day.
As some of you know, minting a new NFT on the WAX blockchain costs RAM and therefore a certain amount of WAX tokens need to be staked in the contract which mints the NFTs.
Also if the NFT gets burned, the contract would get the staked WAX tokens back.
If we would create that huge amount of NFTs every single day, we would need to stake / add about 1,500 to 3,000 WAX tokens every day.
The big challenge here is to find a good balance between which and how many NFTs should be minted each day so it still makes fun to play in the Waxel World and we wouldn’t need to stake a lot of WAX tokens each day in order for you to be even able to play in the Waxel World.
For example we could extend the minting time for a “Citizen with Profession [x]” to work / find new “Materials”, but if it would take for example 7 days then nobody would like to wait so long and therefore play in the Waxel World.
If the minting time is too low, we wouldn’t have enough WAX tokens to keep the Waxel World alive.
To conquer the huge amount of needed WAX tokens to keep the Waxel World alive we came up with 2 mechanics:
- Adding a failure rate of not being able to find a new “Citizen” and “Materials” to get the minting amount of new NFTs a bit down
- Adding a deflationary feature where the “Citizens with Profession [x]” and “Items” are burned after a certain amount of uses (in the real world citizens also get old and can’t work anymore and items break)
We will have to run a lot of tests and see how much WAX will be needed in order to keep the Waxel World alive and you will still have fun to play in it.
There is also another option that would drastically reduce the amount of needed WAX tokens to keep the Waxel World alive by 50 to 90%!
This would be to keep the minting of new “Materials” outside the blockchain and therefore not used as NFTs but values in a database like you know it from most traditional games.
We are not in favour of this solution and will try our best to have all assets in the blockchain as NFTs!
Please believe us that we try our best to find the optimal solution for the Waxel World in order for you to have fun playing it.