Genopets Unveils Dual-Token Economy and $GENE Staking

As the GameFi space matures and VC funding increases, Genopets wants to set the standard for blockchain games and healthy living. 

The Road to a Healthy Life

MoveAndEarn (M2E) game Genopets introduced its dual-token system and many upcoming milestones as the full launch approaches.

The team presented the project’s dual-token economy on May 12 via Medium, intending to offer sustainable pathways for players to earn money by converting real-world steps into gameplay. One of the tokens is $GENE, the governance and staking token. The other is $KI, the in-game utility token users can earn as they perform various in-game actions – like banking steps. Both have in-game utility and can help players unlock more ways to play and earn.

With some PlayToEarn games rebuilding their economies towards more sustainable models, the Genopets team talked with Web3Wire and shared their vision to reward active lifestyles in the long run.

“Sustainability and fun have been the guiding principles of our game economy design. More than move and earn, Genopets is a fitness game; it’s the gamification of living an active lifestyle,” the team told Web3Wire.

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The team also summarized each core pillar on the road toward the game release sometime in Summer 2022. 

What’s already done:

Genesis Habitats: A Non-Fungible Token (NFT) —released in April after an immersive six-week treasure hunt—is the home to the Genopet and boosts its earning potential. 

Energy: Users get Energy for taking steps. They can use it to upgrade their Genopet or convert it to $KI.

Baby Genopets: A free Stage 1 Genopet NFT. Users can already mint one in the ongoing private beta (requisites) or wait for the public beta shortly before the game launches.

What’s coming next:

$GENE staking: $GENE stakers will earn governance rights and rewards. According to the project’s Discord, the feature will be released “in a few days.”

$KI Launch: The $KI token liquidity will be bootstrapped to $GENE stakers and sold in a dynamic pricing launch. 

Habitat Management: Habitat holders will be able to earn $KI by leasing their Habitat to other players.

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In a Discord announcement from May 12, the team reassured the community that they remain well-funded and motivated no matter the overall market conditions. Leading crypto and gaming investors Pantera Capital and Konvoy co-led an $8.3 million seed round in October 2021. Meanwhile, the Genovian community will be expecting to see the fruits of all this capital and hard work. 

What is Genopets:

Genopets claims to be the world’s first FreeAndPlay and MoveToEarn NFT game. The game is built on Solana and allows users to integrate their daily activity in real life with blockchain economics enabling them to earn crypto while immersing in expansive gameplay.

Where to find Genopets:

Website | Twitter | Discord | Medium |

‍Source : web3wire.news

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