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Bears and Foxes Follow Wolf Game’s Footsteps

Bears and Foxes Follow Wolf Game’s Footsteps

NFT Spotlight: 3 collections on fire, to check out this week

This week’s NFT Spotlight is dedicated to bears and foxes, following the undeniable success of the new NFT play-to-earn mechanic introduced by Wolf Game. You could argue that these collections are simply a copy/paste of the original Wolf Game, however, this doesn’t seem to bother players too much.

According to DappRadar data, both bears and foxes have managed to snatch a spot at the Top NFT Collections ranking for the past week. Of course, Wolf Game remains the most popular among the three, however, collectors are aping into copycat projects without much hesitation. Is this wise? Read on to find out more about each of the three collections and make up your own mind. 

Wolf Game

bears and foxes

Wolf Game has been the center of attention across crypto Twitter and the whole community for a couple of weeks now. The game offers a new look into what NFT staking can bring to holders. While the collection saw some difficulties starting out, including hacked smart contracts, investors were not deterred. 

In the past seven days, Wolf Game has generated upwards of $17 million in trading volume, attracting more than 2000 traders. Interest in the game is spiking as more people look into Wolf Game as a solid passive income opportunity. 

Even celebrities have found their way into Wolf Game. Recently, DappRadar uncovered that actor Elijah Wood is in fact an early adopter of Wolf Game. He currently stands to make about $10.000 in weekly passive income from his two sheep NFTs. 

The way Wolf Game works is relatively straightforward. In essence, sheep live blissfully in the Barn, and owners collect WOOL tokens for staking their sheep NFTs. However, just outside the Barn, a pack of wolves is anxiously looking for a way to get to the sheep. To protect their sheep, owners pay WOOL tax to the wolves. Wolves receive 30% of all WOOL proceeds coming into the Barn. However, there’s a catch. Wolves like to steal things. If you own a wolf NFT, it might steal a sheep NFT for you.

The Shepherd, the brains behind Wolf Game, has also announced plans for a much more detailed game that is expected to launch in 2022. However, for the moment, Wolf Game NFTs are gaining momentum as collectors look into ways to make passive income. 

At the time of writing, the floor price for a sheep NFT is 0.79 ETH, or about $3,745. However, if you’re looking to get a wolf NFT, you’ll need at least 5.3 ETH, or $25,124. 

Of course, it is important to note that Wolf Game offers no guarantees. Players will continue receiving their WOOL tokens, however, as a part of the global cryptocurrency ecosystem, the price for one WOOL token is not fixed. Therefore, players cannot have the assurance that their daily WOOL rewards will hold value in the future. 

Bear Game

Closely following Wolf Game’s success we have Bear Game. Using much the same premise, with the main characters switched, Bear Game has generated more than $13 million in trading volume in the past week.

Instead of owning sheep and wolves, collectors can mint fishermen and bear NFTs. Fishermen are just doing their thing, catching fish by the river. Bears are lurking in the forest nearby, looking to steal fishermen and their catch. According to the official whitepaper, fishermen NFTs get to keep 80% of their daily SALMON token catch, while bears are paid the remaining 20% as tax in order to not attack fishermen. 

One important difference to note is that 10.000 SALMON tokens are worth about $16, while 10.000 WOOL tokens are worth about $1168. Of course, as a game that’s just starting out, Bear Game can potentially attract even more collectors to stake their fishermen and bears, effectively raising the price of SALMON tokens. However, the rate of return for Bear Game is still nowhere near what Wolf Game can offer. This is just one of the pitfalls of a copycat project. 

Despite the relatively low return on investment, Bear Game is already attracting a growing community. With more than 5700 Twitter followers, and close to 10.000 Discord members, the game is building a following. Additionally, Bear Game NFTs attracted upwards of 4000 traders in the past week. Of course, the entry investment for Bear Game is much lower compared to Wolf Game.  The floor price for a fisherman NFT is currently 0.0379 ETH, or about $179. 

Interestingly, Bear Game is also taking a different path in terms of future development and roadmap milestones. The team behind the project has not announced plans to introduce major gaming mechanics as Wolf Game did. However, Bear Game developers are already working on releasing a hunters feature, which will allow fishermen to take revenge on thieving bears. Additionally, in the future bears will be able to birth cubs after a week of hibernation. This will allow bear NFT holders to grow their sloth and potentially steal more SALMON and fishermen NFTs. 

Fox Game

Fox Game is the second play-to-earn Wolf Game interpretation we’re going to take a look at today. Instead of sheep and wolves, Fox Game players compete to mint foxes, rabbits, or hunters. This is an important differentiation from the original Wolf Game. Importantly, players had the chance to mint one of three different characters. Foxes play the role of wolves, and rabbits play the role of sheep. However, Fox Game introduces a completely different, third category of NFTs in the form of hunters.

In Fox Game, players compete to earn CARROT tokens. Staked rabbit NFTs earn 10.000 CARROT tokens daily. However, once again there a 20% tax goes to foxes so they don’t attack the rabbit farm. 

Foxes receive their cut of the tax and additionally have a chance to steal more CARROT tokens, or rabbit NFTs. Hunters, which represent only 2% of the total Gen0 Fox Game collection, are the most profitable NFTs. Each staked hunter earns 20.000 CARROT tokens daily. Additionally, there is a 5% chance hunters will steal a fox NFT that is not staked. 

Fox Game offers the most diverse passive income model out of the three games. There are three main characters in the game. However, a comparison of token prices reveals that CARROT currently holds the lowest price of the three rewards tokens. At the time of writing, 10.000 CARROT tokens amount to a mere $0.05. 

Despite the significantly lower potential for earnings, Fox Game has attracted a large community of NFT collectors. In the past week, the collection has recorded upwards of $10 million in trading volume, generated by close to 3000 traders. In terms of social media reach, the project is also doing well, with more than 20.000 Discord members, and close to 10.000 Twitter followers. 

Still, the fact that CARROT tokens have a noticeably lower valuation confirms that copycat projects are not always as successful. Or as profitable as the original. Fox Game is also the newest of the three projects and has not yet released a detailed roadmap of future plans. If and when this happens, CARROT might jump in price. Interestingly, Fox Game NFTs sport a higher floor price than their bear and fishermen competitors, despite the significant difference in rewards rates. A floor-priced rabbit NFT currently costs around 0.07 ETH, or about $327. 

Are bears and foxes worth the risk?

The main premise of all three of these games is that collectors need to calculate the risk and rewards ratios for themselves. The risk element is a fundamental part of the idea of the games. You can own an NFT which earns you passive income, however, it can be stolen. It’s your choice whether you want to own a sheep or a wolf, a rabbit or a fox, or a fisherman and not a bear. 

Aside from the in-game risk factor, these projects are very vulnerable in terms of rewards for players. All three rewards tokens are only used in these specific platforms. However, they are still part of the wider crypto ecosystem, which can have a significant effect on valuation. Considering this, the possibility that players won’t even cover their investments with the rewards earned in the game is looming over investors’ heads. 

Last but not least, these projects are just starting out, and the risk factor with a new crypto project is always higher. Of course, bears and foxes, just as well as wolves might turn out to be legitimate efforts to create a revolutionary product. However, there’s always a chance that ill-minded devs and creators are just waiting for the right time to pull the rug and steal all funds locked in the games’ smart contracts. 

New and revolutionary projects are the way to move forward and develop. To end this on a positive note, no major revolutionary ideas were ever adopted on the spot. There’s always risk involved, especially in the crypto space. DappRadar advises investors and collectors to do their research before aping into bears and foxes, or any other new project out there. You should always keep in mind the fact that you could lose your investment. 

We will continue monitoring the crypto space as more revolutionary projects join and introduce new game and earning mechanics. Bears and foxes might be worth it, but that’s up to you to decide. To stay on top of the latest news in the space, follow DappRadar on Twitter, and join our Discord community. 

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