Skrice Studios' Mavia MAVIA/USD, a blockchain-based game inspired by Clash of Clans, achieved a significant milestone with over 1 million downloads globally.
What Happened: To incentivize early adopters, Mavia distributed tokens through an airdrop to players who synced their accounts before launch.
This airdrop represents 2.5% of the total token supply, valued at approximately $6.25 million at current prices.
See Also: How Today's Gaming Industry Intertwines With Blockchain, Crypto, NFTs, Tokenization
According to CoinGecko data, Mavia is up over 300% just over one week — from $1.83 on Feb.6 to $7.80 on Feb. 14, down from its high of $9.24 on Feb. 12.
Industry veteran Andrew Kang from Mechanism Capital, an early backer of Mavia, emphasizes the game's potential to be a game-changer: "Mavia embodies the high-quality game development that the crypto gaming industry has been striving towards. We believe it has the potential to redefine the space and become a major player."
Drawing inspiration from the massive success of Clash of Clans, Mavia features familiar gameplay mechanics for online role-playing fans, combined with innovative Web3 elements.
It features account abstraction, a way to use smart contracts without making giving up control of funds, and a compliant token NFT model that is to ensure seamless transactions and regulatory adherence.
Mavia's gameplay model stands out from previous play-to-earn models — games that offer rewards for playing — by offering a more controlled and balanced in-game economy.
This is supposed to mitigate the token's volatility, which has been a problem for previous hits like Axie Infinity.
But the development team did not stop there.
Upcoming features include cooperative play, wagered matches and an in-game NFT marketplace are supposed to expand the game's appeal and foster community engagement.
Why It Matters: Beyond the digital realm, Mavia has attracted attention in the Philippines, a nation with a strong mobile gaming culture.
Active participation from guilds like Yield Guild Network suggests the game could make significant inroads into the mainstream gaming scene within the region.
Speaking with Benzinga, symb0l, a long time participant in the crypto space said the Mavia token brought a lot of new eyes onto the gaming side of the blockchain. It is one of the first projects to successfully link blockchain tech to a game that anyone can download from the app store.
"As the game gains more popularity, it has potential to bring new people into the crypto space. I think this will be the new standard of blockchain gaming, and we can expect to see the sector to see some massive growth throughout 2024.
This growth should be profitable for anybody brave enough to get involved in this space beforehand," according to him.
What's Next: If successful, Mavia could revive the trend of successful play-to-earn games, a big hit in the 2021 bull run.
Image: Courtesy of Skrice Studios
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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