The blockchain is the latest trend in the world of technology. More and more people jump on board every day and it seemed like a matter of time when we will get the chance to play games utilizing blockchain. Parsec Frontiers will be MMO release that will feature a virtual galaxy we can all explore together. According to announcements, the game will be very attractive. In this article, we will focus on the financial side of it. You will need to official token named PRSC (Parsec Credits) to play. Here is everything you need to know about it.
Parsec Frontiers is a massive multiplayer online game with a virtual economy blockchain. Players can explore the Milky Way galaxy, extract and trade resources, freight goods, attack others and manufacture new and more advanced objects. All in-game items and resources are stored on a high-capacity blockchain with fast confirmations.
This MMO, strategy-based, 4X game with a virtual economy blockchain is set in the future after Earth’s demise, a post-apocalyptic scenario. Players will explore new galaxies and the Milky Way in spaceships built with advanced technology. Players will be able to expand and develop this new world together. As they explore and exploit, the new world will change and evolve in real-time from decisions made by the player base.
Players will be able to extract raw materials from explored planets and use these materials to build various in-game items to sell for profits. All in-game items and resources are stored on the blockchain. The player base can either join forces and form alliances or attack one another, PvP style, and create enemies. Choose wisely, your decisions can come back to haunt you at a later time or joining forces/alliances can help you when times get tough.
Business side of things:
The popularity of MMO, strategy, and open-world games have increased considerably over the past few years. There are many extremely successful games with millions of users each day enjoying the technology of internet connectivity and visual quality. Popularity and demand for these vast virtual world games have increased over time and are now accepted as a normal mainstream pastime. With so many real-time hours invested in these virtual economies, it is only natural that in-game progression, skills and virtual items gain tangible value. With that, outside markets are created to fulfill the demand and transactions of in-game currencies in real Fiat Currencies and now Cryptocurrencies. As the blockchain technology improves, many current projects are working to solve problems with scalability. These projects are looking to improve today’s technologies or create new ones to fit their current and future needs.
Now, for the specifics on how, you the player, can earn real-world income/profits from Parsec Frontiers. Resources/raw materials and crafted items trade freely on exchanges or between players via smart contracts. The exchange trading is based on supply and demand, high demand can increase the prices, high supply can decrease it. Anything from the smallest amounts of raw materials to massive spacecraft can be traded. The in-game currency used on the exchanges will be PARSECS. The in-game PARSECS can be converted to an ERC-20 version PARSEC, then sent out via wallet transfer to an outside third-party real-world exchange. Once on the exchange, the player/user can sell the ERC-20 PARSEC for Etherum, thus creating real-world profits in the form of a very popular Cryptocurrency. As an in-game incentive, there will be a deflationary mechanism implemented for holders of PARSEC Credits. This will reduce the in-game money supply in the economy. There will be trading exchanges on space stations or on planets, either operated by the game or owned by players who have purchased an exchange. All exchange fees will be fixed at 3%, 2% of which will be burned via smart contract. This action will reduce the total money supply and token holders will benefit from it.
If you know a thing or two about the crypto market, it's probably not a surprise that the developers chose Ethereum as their project's platform. After all, everyone seems to be choosing it simply because it looks like the best choice at the moment. By using Ethereum, you can easily access various trading exchanges and that is reason enough for using it.
However, the guys who are developing Parsec Frontiers are very aware that you can't use the main net of Ethereum for an application that will probably have thousands of transactions per hour. It would affect the speed of processing transactions, as well as its cost.
That is why the game will use a public customized blockchain. The game will have permission elements and will allow node operation to the community. That way there the transactions will be faster and there will be no asset costs related to their processing.
Here is what the developers emphasized as the key requirements to achieve during project development:
· Issuing own digital assets within the game
· Support for programming and executing smart contracts
· Making it possible to process thousands of transactions each day
· Securing instant or fast validation of transactions
· Pruning technology
Another reason why the developers chose for the in-game currency to be an ERC20 token is that the crowd sale and trading processes will be more manageable and comfortable for players. The idea is simple - there is a PARSEC ERC20 token that you can trade or convert to the in-game PRSC token. You do the latter one by utilizing smart contracts. Once you have the valid in-game currency, you can utilize it for various transactions, such as building a spaceship.
You can also convert the customized blockchain token back into the PARSEC ERC20 token on Ethereum. By doing that, you can move the desired amount from the in-game wallet back to your specified Ethereum address. Once you do that, you are again allowed to trade the currency in crypto exchanges.
If you analyze the table for token allocation, you can conclude that the distribution is done in a smart way. A total amount of PRSC tokens that will be distributed is 30,856,775,800. More than half of it (60%) is reserved for pre-sale and crowd safe. The rest is spread according to the list:
· 14% Buffer to the foundation
· 10% Developers
· 10% Advisors
· 5% Bounty
· 1% Airdrop
There is a chance that some of the tokens will not be sold and the developers already announced that they will be burned. That is another smart decision as it will improve the value of the PRSC token, increase its scarcity and reduce the market cap.
The ship-sale/auction is now LIVE. The Hawking, designed by Darko Markovic, is one of the 3 ship types.
Today, Wednesday May 23th, at 16:00 UTC the Parsec Frontiers Ship Sale/Auction will take place. The very 1st ship up for auction is a one of a kind Gold Ark Ship. It will have a unique serial number of ARK-001. The highest bidder in PRSC Tokens will take “home” this beauty of a spacecraft. For many, who take part in the ship sale/auction, will have a head-start in exploration of the planets, stars and Milky Way when the game launches later this year.
More information on Parsec Frontiers:
The white paper here: https://wp.parsecfrontiers.com/whitepaper.pdf
The official Twitter : https://twitter.com/parsecfrontiers
The official webpage: http://parsecfrontiers.com/
The discord: https://discord.gg/JRCCddz
The telegram: https://t.me/ParsecFrontiers.
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1827271
