Observe TreasureDAO through the lens of the lighthouse game

Author: Tiga, W3.Hitchhiker

The Beacon Game Introduction

Beacon Gameplay Overview

The Beacon game is a PVE game where players can move their characters using the arrow keys and perform normal and heavy attacks with the left and right mouse buttons. The game typically consists of 3 levels, with the first two being relatively easy. Players can choose to abandon the final level to receive a random item reward. The last level is more challenging, and completing it grants three item rewards.

Current Economic Model

Currently, Beacon operates under a weak economic model where players cannot earn tokens from playing the game, but can obtain NFT items such as skins and decorative items. These items can be sold on the NFT marketplace Trove. There are currently three categories of NFTs available for trading in the Beacon game on Trove: characters, pets, and accessories.

There are a total of 45,180 characters, with the current floor price at 20 MAGIC and an order volume of 824 (1.82%); there are 4,096 pets, with a current floor price of 217 MAGIC and an order volume of 278 (6.79%); the total number of items currently is 33,214, and as players continue to clear levels, new items will be generated. The current order volume is 4,600 (13.7%), and with a wide variety of game items, trading is largely based on chance. Even ordinary items have a low probability of selling at the floor price. The transaction fee for buying and selling NFTs is 5% for author royalties and 2.5% for Trove.

Characters can be sold in combination with skin accessories or as individual items.

House decoration items can be used to decorate one's house or sold individually. Extracting items from the game to one's account incurs a withdrawal fee of 0.0003.

Future Development Roadmap

In the future, the Beacon game will introduce team combat and social gameplay, although this aspect has not yet been implemented, and the team has much work to do.

Currently, the Beacon game is a diamond partner (the highest level of partnership) of TreasureDAO, and it is highly likely that the Beacon game will receive funding from TreasureDAO for a maximum of 6 million MAGIC tokens as a harvester, which will be used to pay players' gold farming rewards.

Game Models I Am Optimistic About Based on Beacon

First, the game must be fun compared to current GameFi offerings.

The playability of the Beacon game is considered decent within GameFi; most GameFi projects during the last bull market were unplayable and purely DeFi. Currently, with the game's gold farming attributes being approximately zero, there are many players genuinely playing the game in both Chinese and English Discord channels, and some players are even spending money to buy rare accessory skins and upload their gameplay videos.

There needs to be a certain earning effect.

In the Chinese Discord channel, the number of pure players observed is still small. Among the remaining Chinese players, most are looking forward to the gold farming model of the Beacon game. Additionally, the game is indeed playable, and the floor prices of character and pet NFTs have not skyrocketed, nor do players need to sell at a loss. Loyal players continue to enjoy the game daily.

It is best to have a "big brother" to lead.

Various ecosystems have games that start from zero, but few projects have achieved any significant results. Projects backed by large ecosystems or major IPs tend to have a higher probability of success and better market performance.

Benefits of TreasureDAO for the Beacon Game

Promotional Support

Initially, Beacon was a relatively unknown small project, and it was challenging to promote it solely based on its own capabilities. Early on, TreasureDAO and Arbitrum provided promotional support for the Beacon game, holding multiple AMA events. As a relatively large community, TreasureDAO has a certain scale of grassroots support and occupies a leading position in the Arbitrum ecosystem, giving it a degree of influence. TreasureDAO's promotion significantly contributed to the popularity of the Beacon game.

From another perspective, the listing of MAGIC on Coinbase and Binance can also be seen as a form of advertising. When Binance lists a new token, interested individuals will seek to understand what the token is about and how the business is performing. The MAGIC token also has a certain trading volume, ensuring that people will see it and may want to learn more.

Financial Support

Currently, there is no visible evidence that the Beacon game has received financial support from TreasureDAO. However, in the future, the Beacon game is expected to receive financial backing from TreasureDAO. As a community that has issued tokens, TreasureDAO allocates 15% of its tokens to an ecological fund and has over 30 million MAGIC tokens that can be generated through "mining" in the game.

According to the announcement from the Beacon game, the gold farming harvester was postponed from March to May. There is a high probability that Beacon will receive the maximum reward of 6 million MAGIC tokens, which will be generated in conjunction with game activities.

Game Infrastructure Support

In the current environment for blockchain games, several supporting services are needed:

• DEX: To allow game tokens to swap with USDC or ETH, ensuring good liquidity and trading experience. Currently, Beacon has not launched its own token, but it intends to launch its own BCN. Once BCN is released, it will definitely be listed on MagicSwap and form a pool with MAGIC.
• NFT Marketplace: To allow players to buy and sell game NFT equipment. The Trove trading market has a decent experience, although there is a 2.5% transaction fee during trading.
• Liquidity: Independent game developers need to work hard to maintain the liquidity of game tokens with ETH/USDC. Using MAGIC as the game token (usually as a sub-token) alleviates liquidity concerns.

Collaboration within the Ecosystem

Last week, the Beacon game collaborated with Kaijukingz, introducing a special level in the game featuring dinosaur animations. Players who defeat the BOSS have a chance to win a limited edition crown helmet accessory, with the highest transaction price observed in the secondary market being 500 MAGIC. The current floor price is 180 MAGIC.

Kaijukingz is an NFT project, with a current floor price of 0.18 ETH on OpenSea.

On March 13, Beacon will collaborate with Smolverse from the TreasureDAO ecosystem, also introducing a special level with a co-branded BOSS and a limited edition co-branded item. The Arbitrum PFP flagship Smol Brains (with a floor price of about 700 MAGIC) is also part of the Smolverse NFT series.

Comprehensive Support from TreasureDAO

Treasure has partnered with Arbitrum to launch a Game Builders Program (GBP) aimed at supporting game developers within the Arbitrum ecosystem and helping more promising game projects enter Arbitrum and Treasure.

The partnership is divided into two levels: diamond and gold. The diamond partnership is the highest level of collaboration, and TreasureDAO will provide comprehensive support for the Beacon game, including technology, strategy, game design, launch, community building, operations, and funding. The partnership announcement was made in early February, and the specific effects of the collaboration will need to be observed over time.

In Summary

TreasureDAO is currently among the top 3 gaming platform projects (IMX, GALA, MAGIC) and holds a certain position within the Arbitrum ecosystem, with a degree of influence in the player community. It has a user base in the supporting industries of MagicSwap and Trove, and several games are set to launch in the future. Overall, TreasureDAO appears to be a relatively strong player among the projects currently being observed. However, there are still many issues within the gaming sector that require long-term observation and in-depth research:

How to value, and how to value correctly.

TreasureDAO currently has an FDV of about 600 million. A significant portion of this valuation is based on community expectations and future potential, which is the most challenging aspect of valuation. Valuing the community requires examining TreasureDAO's monetization capabilities, while quantifying market expectations for TreasureDAO and the GameFi sector's future is difficult.

Moat

The only moat that comes to mind is that TreasureDAO occupies a leading position in Arbitrum's GameFi sector, along with a relatively large player community. However, this moat is not very deep; if a blockbuster game like Stepn emerges in the future, it could easily change the landscape.

How high is the future ceiling?

The overall trend in the GameFi sector: the gaming sector is attracting attention from both recent financing and observed personnel movement. Games and social products are also relatively easy to break into the web3 space, aligning with the gradual popularization of web3.

Platform: Arbitrum is currently the leader in L2, with its ecosystem, community, and TVL all at the forefront. Launching a game on Arbitrum will garner significantly more attention and player participation compared to other ecosystems.

TreasureDAO seems to be in a favorable position regarding timing and location. The key factor is whether a phenomenal product can emerge within the ecosystem; this question currently cannot be answered and requires ongoing observation and a step-by-step approach.