Building an Economy
For a true to life experience within a metaverse, it needs to mirror real life in certain ways. To build a strong experience for the players, the economy needs to thrive. Economies are fluid and can change to suit players play-style. Essentially, the way the game is played will decide how the economy flourishes. It is important for us to incentivise and stimulate trading to ensure the constant evolvement of the in-game Economy.
The Economics of the RHITH will be built on the back of players creating, working and trading. All three of these things will have their own mechanisms and are built to incentivise players in each regard.
β€’ If players want to go down the route of mining resources and selling on the market, they can.
β€’ If players want to create items and sell them on the market, they can.
β€’ If players want to work and offer services within the game, they can.
β€’ If players want to build their own spaces, they can.
3.1. RHITH Protocol
The RHITH protocol is an automated Liquidity Generator with the option for dynamic rewards built in. This means that the contract is able to create passive rewards to holders. This can be turned on at any stage of development.
3.2. Dynamic Fees
The RHITH smart contract is built in such a way that allows the fees to be changed to suit the development stage. This gives us the ability to reward holders and active users of the RHITH, just for holding and participating in the game (playing, exploring, working and trading). Also, the liquidity pool is always growing and increasing the floor.
3.3. Tokenomics
Initially the tokenomics of RHITH have been 10% fees (buy/sell/transfer) which has been split 5% / 5% marketing and LP. As stated above, the dynamic fee system allows for change depending on the development stage of the project.
3.3.1 Stage 1 Token Distribution
50% Burn
8% Marketing
4% Treasury
38% Liquidity
3.4 Land & Buildings
Owning buildings & creations, and the land on which they are built is a central part of the Economy and how players can earn money. Built into the revolutionary land NFTs is a system to mine resources that can be used with the in-game building mechanisms for players. To create certain objects and items, you need resources – the better the land, the higher chance of receiving higher quality resources.
3.4.1 Land & Building Staking
When purchasing land, players will have the option to stake the land. In return for staking the land, players can receive rewards such as buildings (to populate that piece of land) and resources (that play a vital role in the creation of in-game items). The property NFTs can then be staked again to receive residual income from any of the commercial business and/or living space that is then available from that property. Time staked will determine opportunity you have for building on that land. The longer you stake the better the reward.
Land purchased on different island biomes will have different traits, making it more/less likely to receive certain resources/buildings/pets. Some examples of this:
β€’ Rocky biomes increase the likelihood of receiving granite & brick property
β€’ Jungle biomes increase the likelihood of receiving oak wood & tree huts
β€’ Desert biomes increase the likelihood of receiving rare wild plants and sandstone properties
β€’ Snowy biomes increase the likelihood of receiving a snow leopard and log cabins
β€’ Urban biomes increase the likelihood of receiving steel and commercial property
3.5 Resources
Resources are the backbone of the economy. The majority of what you can see in game is/can be built using resources. These resources include the likes of steel, wood, cotton etc. The resources are initially generated from staking the land NFTs but as the economy evolves, they will become openly available on the marketplace to purchase.
3.6 P2E System
A functioning P2E system is integrated inherently via the marketplace, also through land & property, building & creating, and through various open worlds events and quests. Furthermore, in the RHITH, players are able to play minigames and directly compete against their friends to earn tokens. More on this later.
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