Breeding and gameplay launch on Friday, February 18
The new play-to-earn dapp Fancy Birds is flying up the Polygon network gaming charts after completing its genesis NFT sale and launching the first gameplay mechanics. Fancy Birds initially arrived mid-December and has now seen the total amount of staked FNC tokens in the ‘nest’ rise over more than $29 million.
Fancy Birds is the brainchild of core Fancy Games DAO contributor Mr. Fancy, as he is known on Discord. A long-time competitive gamer with a background in organizing Esports tournaments. However, the real catalyst came for Fancy Birds when Kieran Warwick, co-founder of Illuvium, tweeted about the idea of a P2E Flappy Bird.
After showing a demo of the working game to the Illuvium co-founder and explaining the roadmap of Fancy Games, the Illuvium co-founder came on board as a strategic advisor. The first seed round included investors such as Kain Warwick from Synthetix, 0xMaki from Sushi, Anton Bukov from 1inch, Ryan Fang from Ankr, Stani Kulechov from Aave, Tyler Ward from Barnbridge, and Richard Ma from Quantstamp.
What is Fancy DAO?
Fancy Games DAO is a mobile-focused, Play-to-Earn arcade game platform that wants to bring casual play-to-earn gaming to the masses through free-to-play mechanics, alongside leveraging crypto. Moreover, users will have the ability to access multiple play-to-earn games, which the firm hopes will emulate the nostalgic experience of casual gaming platforms such as Miniclip while also providing gamers the opportunity to earn rewards through the FNC governance token.
Used for breeding, earning, staking, customization of NFT assets, participating in exclusive tournaments and game modes. FNC serves as the governance token of the Fancy Games ecosystem and a core component of the Fancy Birds game.
FNC Governance Token
The FNC token sale went live on December 14 with a liquidity pool of ETH/FNC available on Sushi offering more than 500% APR at writing, with staking available on the Fancy Birds site. The token price has maintained a stable outlook thus far, helped by staking and liquidity pools being public from the start. The total staked across the Fancy Birds liquidity pool and the nest is over $29 million. For comparison, that’s $5 million more than the entire Fuse network dapp ecosystem to date.
DeFi mechanics are already strong in this dapp with an interesting mechanic that lets stakers easily choose between a 0 and 52-week FNC lock up with APR being higher the longer token is locked up, peaking at 71% for a 52 week lock up at the time of writing.
The mechanic is in place to incentivize FNC holders to keep their tokens for as long as possible not to crash the in-game economy and price of FNC and help the team deliver the roadmap. With almost $4 million already paid out in FNC rewards, the next few days will be critical as the game comes online, but thus far, the system appears to be working just fine.
Learn to Fly, Fly to Earn
Fancy Birds is the genesis game of the Fancy Games DAO. The game aims to add an earning element to the addictive fun of casual arcade games by creating an open economy with 8,888 randomly generated genesis Fancy Bird NFTs. Users must hold NFTs to play the game and earn FNC by completing daily and weekly quests. The public sale launched on February 14, selling out in a few minutes, after early bird minting happened from February 10.
Breeding starts February 18
Now that the birds are out of the nest, holders can breed them to reveal more genetics and potentially useful and valuable NFTs. Each Genesis bird will have four breeds allowed per month. The number of breeds will reset each month. After each breed, there will also be a cooldown of 5 days before the bird can breed again. Upon breeding, users will receive an egg that will hatch in 24 hours.
The cost per Bird in FNC or sFNC (Synthetic FNC) is seen in the image above. As per the chart, depending on the number of times a bird is breeding, the percentage chance of drawing a legendary bird or mutated trait increases. Players will use the NFT birds to level up and earn FNC once the game launches. More in-depth details about breeding are available on the site.
Game Launch Timeline
Feb. 14th: Public Mint of Genesis Set
Feb. 15th: sFNC claiming enabled (at 7 pm UTC)
Feb. 16th: Reveal of Genesis Set
Feb. 18th: Release of Fancy Birds Version 1
The first version of the game release will include the following:
- Breeding
- Quests (Daily and Weekly)
- Tournaments (Daily)
- Leaderboards (Seasonal)
- Name Changes (Change bird names)
- Android APK
Play-to-Earn on Polygon Network
The Polygon Network has become host to some of the most popular games in the space. For instance, Crazy Defense Heroes (CDH) is a play-to-earn tower defense game available on mobile. CDH attracted an average of over 41,000 daily UAW in January, doubling the number of players registered in December. The tower defense game became the second most popular dapp in the network behind QuickSwap.
The mobile segment is one where Polygon has recently paid special attention. Arc8, a mobile play-to-earn dapp developed by Animoca Brands subsidiary Gamee, completed its preseason attracting over 58,000 UAW in January. The mobile play-to-earn dapp will launch its first official season, including new mini-games. In many ways, the outlook of Arc8 and Fancy Games DAO is very similar, so it will be interesting to see how the two go head to head in 2022. Moreover, to see how play-to-earn gaming adds to the Polygon Networks usage and overall appeal this year.
Newsletter
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds ETH, BTC, AGIX, HEX, LINK, GRT, CRO, OMI, IMMUTABLE X, GALA, AVASTR, GMEE, CUBE, RADAR, FLOW, FTM, BNB, SPS, WRLD, ATOM, and ADA.
