On the surface, Fight Farm may appear to be just another staking rewards game. It is very easy to collect fighter NFTs and stake them for rewards without understanding or caring about the UFC, or the deeper levels of gameplay. So in that sense, there’s something for everyone, including those who want to set it and forget it. But, if you are looking for more for a game that reqiuires a strategy to collect, control the secondary supply and demand, and how to deploy your NFTs either solo, or as a team in our DAO based gameplay, then Fight Farm is the NFT collection to deliver that KO.
Fight Farm stakes about 55% of it’s profit from NFT sales into a basket of treasury assets that fund our rewards pool. When you purchase a fighter NFT, you have the ability to earn from that rewards pool based on the outcome of the real world UFC fight that your NFT is pegged to. Not only will you earn on that particular fight if they win, but you’ll earn on ALL FUTURE WINS by that specific fighter!
You NEVER HAVE to buy another NFT for that fighter. However, the more you hold, the larger % you rake from the rewards pool. We also have multiple verisons of the fighter every new fight. So not only can you collect multiples of the same version, but you should collect at least one of EVERY version for that fighter.
You can only earn rewards if the fighter wins their UFC fight. So what happens if/when the fighter either retires, or leaves the UFC? There are no more fights in the UFC to pay out rewards. BUT, if you own at least one of each version of that fighter NFT, you can submit those NFTs to the DAO treasury to be burned, and we will mint a LGND NFT for that fighter. This effectively reduces the overall supply of the collection, but also the total supply for that specific fighter, and the supply of each individual version for that fighter. That will increase scarcity and rarity for the fighter, and could impact the value of the fighters NFTs.
LGND NFTs will have a few different functions that will bring it value. We will roll these out over time. The very first function of a LGND NFT is that you can wager the NFT to bet on other players fights. Since your fighter is either retired or no longer in the UFC, the only fights you can play on are other fighters! There is plenty of risk, but also potential reward. The DAO will decide quarterly what percentage of rewards pool a LGND can steal if they bet correctly. We. will launch LGND DAO wagering at a 50% steal rate. That means if you deploy your LGND and you bet correctly, you can steal 50% of the pot from the winning fighter NFTs!
There is also a risk that you will deploy your LGND NFT to steal a rewards pot, and your LGND is not randomly selected to play. There is a lockup period before you will be able to withdraw your LGND NFT. We will begin with a 4 week period, but the DAO may vote to extend this period. The DAO is not allowed to reduce the period to less than 4 weeks. The 4 week lockup period was deisgned to reduce available supply for 2 weeks prior and post fight.
There is also a deep level of DAO enabled gameplay that begins with the LGNDs but circles back to the base layer of buying NFTs to stake and earn rewards. If the player who deploys their LGND NFT loses their bet, they lose their LGND NFT. The winning fighter NFT holders will retain their full rewards pot and will be invited to join a special DAO to decide the fate of the losing LGND NFT.
There are three options, and in order to qualify for any individual option, you must have voted with the majority. IF you vote for a minority option, you are disqualified from the benefit of the winning fate.
Option1: Players can vote for the BURN option. This will reduce the supply which benefits both collectors and players. In the future this vote to BURN will also be accompanied by a BRIBE payout of our token to incentivize the BURN option further.
Option 2: Players can vote for the GREED option. One of the individual players who voted for the GREED option will be selected at random to be awarded the LGND NFT.
Option 3: Players can vote for the TEAM option. Players must spin up a new DAO/subDAO, or provide an existing DAO/subDAO treasury address to take possession of the NFT.
This is where the drama and strategy begins, and where inviting your friends to form and play as a team will show huge advantages. When a player loses the LGND bet the winning NFT holders take control of the fate of the LGND NFT, but there are a few things to conisder:
- Not every player who has an NFT staked is actively going to be playing. So, they may miss out on any LGND NFT voting and any rewards therefore.
- Not every winning NFT holder will already be a part of a DAO, or can be trusted. Some team DAOs cannot be trusted. They may vote in favor of moving the LGND NFT to their own DAO/subDAO without inviting the other winning NFT holders to participate in managing or benefitting from the LGND NFT.
- However, this is a good instance in the gameplay where DAOs not have the incentive to grow their DAO team by inviting and recruiting new players to join their team and increase their influence & power in the game.
- The drama may ensue when a winning NFT player is either not invited to help manage the LGND NFT, or is kicked out of the DAO/subDAO by other players, due to any circumstance, simply by being outvoted. This may be very difficult for many players, as they will not enjoy being left out of the DAO controlling the LGND NFTs. But, use this as your inspiration and drive to recruit and build your own competing DAO team!
- As you begin to see DAOs owning and controlling LGND NFTs, you will now see the power and drama of DAOs as you decice how to utlilize the LGND NFT. Do you simply hold it for price appreciation to flip? Do you deposit it as collateral for a loan and use it to fund defi in your DAO? Do you deploy the LGND NFT in game and attempt to steal part of a rewards pot? If so, how do you decide which fighter to wager the LGDN NFT on?
- Looping may impact the game. This is where a DAO is able to control both sides of the match. They may deploy a LGND NFT to steal the pot, but they may also have the majority of the winning fighter NFTs to control the fate of the LGND should they lose. But, this should disipate over time as the profit motive drives for new players and teams to come and compete to win rewards and control LGNDs.
- As players lose LGND NFTs, we should begin to see very competitive voting by the winning NFT players. You could see three or more DAOs with about even voting power. This may give the non-team players the chance to impact the game by deciding which DAO they align their voting with. This will be a great recruiting mechanism by DAOs…. if you can trust them.
- We could see some very powerful individual or DAOs who rarely lose their LGND NFT bet to steal the pot. This can be a very profitable strategy, and if they really follow the sport and keep up with real world betting lines, we should see some of the biggest cashrolls ever created from MMA betting. Every time they win and retain their LGND, they’ll steal 50% of the pot, and they are likely to use that capital to give themselves a larger edge in the game. Not only could they buy more LGNDs on the open market, they could pad all of their regular fighter NFTs to control voting should they lose a LGND bet, and also increase their collected stake to burn into new LGNDs. And rather than simply spend all of their winnings directly in Fight Farm, an excellent strategy for any individual or DAO team would be to utilize the capital to deploy into many different defi oppurtunities to bankroll their influence in Fight Farm.
So, as you see, this is more than simply a staking rewards game. This is a DAO strategy game, that uses staking rewards based on the outcome of a real world event as the catalyst to drive demand for the NFTs. That also allows players to strategize how they deploy on the secondary marketplace. Collecting multiples and controlling the prices may impact the value required to mint a LGND NFT, which will also impact the risk/reward ratio when deciding when to deploy a LGND. We may also see the cost associated with average secondary prices impact what percentage of the rewards pot can be stolen in order to manage the risk/rewards ratio considered when deciding to deploy a LGND.
The goal of Fight Farm is to create a layered game where players can simply collect NFTs to earn rewards, but also add additional layers surrounding collection incentives, additional betting layers, secondary market strategy and price controls, and many, many new layers that can be added by the creators, or anyone who wants to design a DAO game to utlilize our NFTs. We are sure plenty of people in our community will find gameplay that we have not thought of, and they can easily spin up a DAO to test this gameplay and see if it can gain a following. If the community sees value in community created games, it could be brought to a vote and added as an official subDAO, which would create revenue for Fight Farm, but also for the creators.
We also want to provide a collection of NFTs that are second to none when it comes to art and design. We have and will continue to work with a wide variety of artists to create a diverse and interesting collection that will drive new users to come check out the game.
Fight Farm will also strive to work with partners throughout the Cosmos to integrate our NFTs into defi & NFTfi where it makes sense. We have already heard of many possiblities of platforms that may utlilize OmniFlix NFTs for increased APY/APR on DEXs, as well as many other potential defi features. We should also see interesting possibilities for our own tokens utilized in game, and how they might provide defi oppurtunities.
Because we have so much built in utility wrapped into our collection, and because we have pegged the game to real world athletes, in a real world sport, that hosts multiple events per month, all year, no off-season, it’s very possible that our NFTs will hold value despite the normal boom-bust, bull-bear cycles of crypto. That’s not to say that Fight Farm NFTs would not feel any impact of liquidity exiting the crypto markets into a bear, but we are likely to see a retention level in our NFT game, that no other NFTs, or NFT games can possibly maintain. This is because we simply and intentionally built our gameplay strategy around a sport that transcends the price of crypto, or crypto sentiment. Most NFT games and staking games have always had a pitfall of how they deploy their gameplay and it’s reliance on the price of the NFT or crypto.
If Fight Farm NFTs can prop the game through a bear with precise treasury management, we likely can retain users, and maintain enough stable value of an NFT that has potential revenue streams, and that will make Fight Farm NFTs one of the best lending collaterals on the market. The potential of Fight Farm NFTs being pulled off the game to be utlized in Defi & NFTfi is a huge thought in our process. It will impact the secondary market and the game itself if the incentives outside the game drive the NFTs to be used elsewhere. And that balances out for the players who remain in the game.
I hope you enjoyed reading this overview of Fight Farm. This is who we are, and where we are going. Join us.
