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Big Time: Web3 Adventure Game Sets the Stage for a 'Player-Owned Economy

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Sep 25, 2023 at 09:14 am

During the final phase of beta testing, the community of the crypto and NFT-centered game has burgeoned to exceed 350,000 members on Discord and over a quarter million on X (previously Twitter).

Big Time, a web3 role-playing adventure game, is poised to transition from a year-long testing period to its anticipated live launch in early October. The primary goal of Big Time is to provide its expansive user base with a free-to-play environment, devoid of the type of misaligned pay-to-win mechanisms that have plagued other crypto-centric games.

The brains behind Big Time, which includes the former CEO of Ethereum-based virtual realm Decentraland along with several seasoned AAA game developers, tout the concept of a "player-owned economy." Here, gamers can create, trade, or discover digital wearables and collectibles in the form of non-fungible tokens (NFTs), all driven by a native Big Time cryptocurrency. This vibrant ecosystem unfolds across both ancient civilizations and futuristic realms.

Previously hyped cryptocurrency-centric games like Decentraland and the competitive digital pet platform Axie Infinity have encountered challenges over time. Decentraland's metaverse has drawn criticism for its lack of engagement, while Axie is susceptible to the adverse effects of its play-to-earn model.

Ari Meilich, the former CEO of Decentraland and the founder of Big Time, emphasized the robust community supporting his new venture. He also highlighted the creative prowess of the Big Time Studios team, collectively responsible for games that have captivated tens of millions of users and generated hundreds of millions of dollars in revenue.

"The Big Time community has already grown to over 350,000 people on Discord and over a quarter million on X (formerly Twitter)," 

Meilich noted in an interview with Bitsday:

"We also have a signup list with over a million people, and have made direct sales in excess of $80 million, plus whatever the users have traded among themselves."

Meilich underscored an important distinction, emphasizing that Big Time holds the distinction of being the most streamed PC web3 game on Twitch. Over 3000 streamers have engaged with its pre-alpha version, and it has established a substantial presence in vital markets like Japan.

In addition to cultivating a robust community, Big Time took deliberate steps in crafting economic incentives to steer clear of the play-to-earn pitfalls faced by Axie. This approach aims to avoid the game being labeled a form of "digital serfdom," heavily reliant on a workforce of low-wage laborers in regions like the Philippines.

According to Michael Migliero, Chief Marketing Officer at Big Time Studios, the game's native $BIGTIME tokens aren't generated solely based on time spent playing, but instead hinge on skill and astute resource utilization. This results in a meritocratic in-game economy.

"The first iteration of web3 games had an unsustainable model," Migliero explained via email. "They required assets that widely fluctuated in price to access the core game. Their economies generated over inflated token supplies, and the tokens didn’t have enough utility sinks. This resulted in a user base seeking largely to profit instead of having fun. They also delivered simple, shallow gaming experiences."

Big Time's comprehensive in-game economy, known as "Preseason," is set to kick off in early October, as stated by Migliero.

Read more: Bank of Japan Adds Uncertainty to Crypto Volatility, Says Trader

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