"Game Gold Mining + Social Empowerment" Breaks the Death Spiral.
Author: flowie, ChainCatcher
Following the Web3 version of "Twitter," the Web3 versions of "Trip.com" and "Xiaohongshu" and other crypto-based lifestyle service applications have also begun to attract market attention.
Last week, Zhao Changpeng revealed on the X platform that he invested in the crypto travel platform Travala, after which its token surged by 300% within an hour.
Additionally, the public chain Kaia, developed by communication giants LINE and Kakao, announced last week that it will launch its first batch of Mini Dapps on LINE in January 2025, among which the gamified social metadata platform Yuliverse was successfully selected.
Yuliverse plans to launch a social Mini Dapp called YuliGo on the LINE Mini Dapp ecosystem and Kaia blockchain, similar to the Web3 version of "Xiaohongshu," allowing users to "Social to Earn" based on location, meaning they can earn token rewards while sharing their lifestyle experiences in real-time, such as dining and entertainment.
According to Yuliverse, it is the first TGE project launched on Kaia. Community users who missed out on Travala can also follow Yuliverse's upcoming developments.
Game Gold Mining + Social Empowerment, Yuliverse Creates a Gamified Lifestyle Metadata Platform
Yuliverse is the first gamified lifestyle metadata platform, distinguished by its integration of LBS (Location-Based Services) technology with "game gold mining" and "social content creation," creating a sustainable ecosystem with practical application scenarios.
In terms of gaming, Yuliverse has developed the Web3 LBS game Yuliverse App, which can be likened to the Web3 version of "Pokemon Go." It combines adventure and social elements, encouraging players to move in the real world and build social relationships, earning in-game native tokens $ARG and $ART by completing tasks and challenges.
Yuliverse has partnered with over 70 offline merchants to provide incentives for players in the Yuliverse game. According to Yuliverse, players have completed over 5,000 redemptions at physical locations. This demonstrates the great feasibility of using location-based lightweight gamified tasks to increase revenue and reduce customer acquisition costs for merchants.
Since its launch in the first quarter of 2023, the game has attracted over 565,000 users, with a peak concurrent user count of 155,000.
On the social side, Yuliverse has developed the LBS-based social sharing platform YuliGO, similar to the Web3 version of "Xiaohongshu," allowing users to post and earn money while having an AI assistant to lower the operational threshold. YuliGO will launch on Telegram in September 2024, currently boasting over 2.4 million total communication users.
Yuliverse mentioned that many users face redemption barriers in offline merchant tasks due to unfamiliarity with these merchants, and YuliGO's social sharing can provide content recommendations for ecosystem users, enhancing their gaming experience.
The combination of Game and Social can effectively address the sustainability dilemmas faced by GameFi and SocialFi.
Currently, the "mining and selling" model of GameFi can quickly attract a large number of gold mining users, but its tokens often struggle to capture valuable data, leading users to ultimately sell their tokens. Therefore, after the initial incentives end, GameFi can easily fall into a death spiral.
In contrast, SocialFi is the opposite; social interactions are the easiest to capture valuable data, and the world's most well-known internet companies primarily rely on users' social networks and social data to achieve leading positions.
However, most Web3 users are still speculative trading users, and attempts at Web3 social interactions often revolve around "pseudo" socializing for trading, with very few truly valuable content creators. This makes it difficult to devise a token incentive scheme that retains users and generates more valuable content.
Yuliverse states that among 100 Web3 social users, only about 3 have the ability to create content. Whether token incentives are broadly distributed to these 100 users or focused on the 3 true content creators, it results in a lack of motivation for ordinary users and content creators to stay, preventing tokens from capturing value.
However, "Game Gold Mining + Social Empowerment" can resolve the aforementioned dilemmas of GameFi and SocialFi. Yuliverse's solution is to have 97% of ordinary users engage in simple game gold mining, with the produced tokens empowering the social content platform, while the 3% of true content creators earn token incentives through content production, thus retaining different types of users and forming a sustainable ecological network.
Yuliverse is committed to establishing a healthy accumulation and circulation of token value, utilizing location technology services and SocialFi to endow gaming tokens with data value. Additionally, it supports content creators and ordinary users through a fair distribution mechanism. Yuliverse promotes a balanced and sustainable ecosystem, and through a token buyback mechanism, it incentivizes user retention while creating deflationary pressure on token supply.
Capturing the LINE + Kaia Ecological Dividend, Reaching a Large Real-World User Base
In addition to the unique model of "Game Gold Mining + Social Empowerment" bringing loyal users to Yuliverse, it has also expanded its influence through partnerships with leading industry platforms such as BNB Chain, OKX Wallet, Bitget Wallet, and Gate.io.
In terms of airdrop incentives, Yuliverse conducted an airdrop of over 100 million tokens after its TGE in July this year. Over $50,000 in prizes were distributed in Telegram and Discord activities.
Yuliverse has built a large-scale and active community, with its official Twitter account nearing one million users and Discord boasting over 270,000 users. It has raised a total of $6 million in funding.
In the upcoming year of 2025, Yuliverse will continue to expand its ecosystem. According to its roadmap, a key development focus for 2025 will be within the LINE + Kaia ecosystem, continuing to expand the gamified social network and reaching a larger user base. In addition to Web3 users, Yuliverse can also tap into a larger Web2 user base.
Compared to Telegram, LINE and WeChat are more similar, not only having a vast social network but also a lifestyle service matrix built on social users. Currently, LINE has nearly 200 million users.
Kaia is the L1 blockchain launched by LINE and Kakao. From 800 applicant teams, 30 DApps were selected to be among the first officially launched mini-programs on LINE Messenger. Yuliverse, as one of the first selected projects, will receive strong support in terms of traffic and other aspects from LINE and Kaia.
According to Yuliverse, the YuliGo social platform under Yuliverse, which will launch on LINE + Kaia, is not only a sharing platform similar to "Xiaohongshu" but also a mixed asset (token + NFT) issuance platform based on the Pump.fun model.
Yuliverse's platform token $ART adopts the POP404 (Proof of Participation 404) standard, allowing each post (content + media) to be traded as a token in the secondary market. Content creators can earn ART rewards by posting on the platform, and each post can also be easily "double-tapped" to create an NFT.
To lower the operational threshold, Yuliverse is developing an AI agent that utilizes an open-source bot agent framework to help users manage their posted content and token transactions, enabling smoother and lower-threshold participation in YuliGO's secondary market on Kaia.
In expanding users' social networks, Yuliverse collaborates with large offline merchants, online consumption data network platforms, and loyalty points platforms to build a more comprehensive incentive system for users. Meanwhile, Yuliverse also helps Web2 companies reduce customer acquisition costs, empowering the entire LINE ecosystem.
Yuliverse anticipates that under the ecological dividend of LINE + Kaia, it will bring over 3 million social users by 2025.
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