Ledger Of Record - Covering markets and makers in web3 as they build the future and change how the game is played.

Brought to you by Lore, the first natural-language block explorer enabling anyone to be a voyager for on-chain data. Start exploring now at Lore.so!

Lore is the first natural language block explorer and on-chain search engine.

Show Notes:

Hey there, this is Ryan on Episode 2 of Ledger of Record. Ledger of Record is brought to you by lore, the first natural-language block explorer enabling anyone to be a voyager for on-chain data. Start exploring now at Lore.so!
The hottest new trend, X to earn rewards players with cryptocurrency for performing actions like playing, walking, or participating in things you normally do.

X to earn has grown in popularity with everything from

Play to earn
Run to earn
Sleep to earn
Drive to earn
And so many more

While there has been a large falloff in usage and liquidity amongst these games given the bear market (a point of criticism for x to earn) there are some that generally excite me. P.S this is not investment advice.
Here are some of the coolest X to earn games I have found.

1. Stepn, a move to earn application where you earn tokens for moving! With over 200k users since launch it is one of the coolest X to earns I’ve seen

You find a sneaker that fits your fitness level, equip the sneaker and burn calories to earn energy + more sneakers.
I really like this concept, it’s a fun way to gamify fitness & I think it will be a top X to earn application during the next bull cycle.

1. Gods Unchained - A play to earn card game where you earn in-game assets and can sell them for $$. Over $50M in cards have been exchanged making Gods Unchained a leader in the play to earn space.

Something I am generally excited about is what you earn, I think super fans of games that can earn governance tokens for playing games which allow them to vote on the future of the game, updates, maps, skins etc is a really cool concept I want to watch some games implement.

This is a game I am excited to watch thrive despite the current market conditions

1. MContent - a watch 2 earn model that pays users for watching ads on their platform similar to a Youtube. They’ve flipped the script by giving a percentage of advertising revenue to consumers via their myco token.
   
   The major issue I have with this model is liquidity, who is buying the myco token? But after considering - I think hosting a large annual event where by owning a certain # of token will grant you a ticket to attend & burning/redeeming tokens for meet & greets with actors/creators, private events & more can create a strong demand side to hold/purchase these tokens.

I am really excited to see how this company grows!

My 2 main problems with X to earn:

1. One real concern for these games is that they can produce false PMF. It is safe to assume every user of any product does so with the intent of doing whatever they can to maximize value for themselves. If the incentive structure is strong enough participating in these games can result in farming
2. The effects macro conditions have on these games, traditionally gaming or running is not effected by market conditions. No matter the price of ETH people are playing and buying skins on Fortnite, tracking steps and more - but with liquidity & economies top of mind for these new types of gamified X to earn apps it’s clear market conditions have serious effects on these apps. With some we see assets held per user has gone up but the total # of users has fallen of dramatically - maybe this is just the time where power users thrive!
   
   
   In conclusion I dont think X to earn is going anywhere & i am excited to seen new models in the future, I hope you enjoyed this episode & I’ll see you next time on ledger of redcord