The Crypto Prophecies — NFT Staking Proposal to Become World GameFi Leader

While the blockchain based game The Crypto Prophecies successfully launched its beta version, most of the players are still waiting for play to earn (P2E) functionality.

In this proposal I article I would like to present a possible upgrade of the game tokenomics that I believe would lead to allow reach one of top positions in the world of GameFi.

NFT Staking as the Key Element

While the team is actively developing P2E functionality based on its native TCP staking, I believe the switch to NFT staking would have nothing but huge and positive effects.

The proposed tokenomics:

1. Players buy game NFTs with project TCP token. NFTs have different prices based on the rarity ranging from the common to legendary tier (already implemented).
2. Players stake the NFTs in the smart contract, while still being allowed to play with their NFTs.
3. For staking they receive bTCP token, which is non transferable and the way to convert it into TCP is by playing the game.
4. Low tier prophet gets smaller number of bTCP tokens, while higher tier gets higher number of bTCP tokens. For example if a common prophet gets 1 bTCP, the legendary prophet gets 625 bTCP for the same staking period.
5. Low tier prophets (common) have lower chances of winning the game , while higher tiers have higher chances of wining the game, thus being able to convert more bTCP into TCP and cashing out more. This gives incentives to go up the ladder.
6. Most of the TCP from NFT sale added to bTCP pool for NFT stakers

Positive effects of the solution:

1. TCP token under constant demand pressure with more and more NFT buyers.
2. Play to earn mechanism as expected by the market.
3. Strong NFT sales as more NFTs means more bTCP, thus more theoretical income. Players will be motivated not to buy just a single prophet, but many prophets as every staked NFT will generate extra bTCPs.

NFT Renting as a Side Effect

One of the key possibilities enabled by NFT staking is also NFT rental. Some of the investors with multiple NFTs may decide not to play but to delegate the right to play to a third party.

Since an NFT is anyway transferred to the smart contract, it is not too far from specifying the account able to play independent from actual owner and defining the revenue split between the owner and the player.

CryptoMines as a Market Example

While CryptoMines does not really have any kind of a game, but just the mentioned NFT staking, its amazing success and ability to attract huge number of players should lead us the way to the implementation of the mechanisms.

Summary

I believe The Crypto Prophecies project can be extremely successful, as it has one of a kind, functioning and playable game.
Implementing the proposed solution can be a foundation of its well-deserved success.