Yesterday, a new token was quietly launched on the Binance Smart Chain. New tokens are launched every day, but this one caught my eye. The token is the WHEEL, the native currency for a new play to earn game, Crypto Wheelers. At the time of this post, according to CoinGecko, the WHEEL was trading at around $0.11, up a decent 40% over the past 24%, as might be expected given its recent launch. So, of course, snoop that I am, I did some digging about this new token and game, and I am back with some news for you. Feeling adventurous? While we wait for WHEEL's trading price to stabilize, let's go for a spin and talk about it.
Play to Earn Gaming
For a quick recap, play to earn gaming is an increasingly popular concept often used in blockchain games. In this business model, financial benefits are afforded to players, either through opportunities to buy, sell and trade digital in-game assets such as NFTs or through acquisition of actual tokens in the game which can then be traded for money on an exchange. Several blockchain games currently on the market or pending release are touting this play to earn model.
Enter CryptoWheelers
According to its whitepaper, CryptoWheelers is a NFT F1 Racing Game, developed with the goal to build F1 Cars and beat circuit records to earn WHEEL tokens.
In the game, an F1 car is made up of three NFT parts (Engine, Tires, Chassis). To play the game, you need to buy these parts at the CryptoWheelers marketplace, build a custom car and start to race. You only need one of each NFT part to play, but since there are a number of circuits, and since each circuit is different, the developers are advising that you should invest in more so that you can combine different chassis, tires and engines for optimal performance. Simple right? Buy and combine parts, boost up at a pit stop, enter a race, and ejecto seato, cuz!
Yep, I'm a huge Fast & Furious fan, and nope, as far as I know, the Fast & Furious franchise is in no way related to this game. But, I'm still gonna leave this clip here because I love it.
The Marketplace
Of course, because I visualized myself as the future Dom of blockchain racing, I went over to the marketplace to scout the cost of the parts. I'm ready to build!
So... this is what I got.
- The chassis price begins at 1600 WHEELs.
- The engine price begins at 2000 WHEELs.
- The tires, which can be soft, medium, hard or wet, begin at 400 WHEELs.
The entry price really isn't bad, though I am going to assume that these prices are very preliminary, given that some crucial specs are still missing, e.g. the speed, acceleration and turn features for the engine and chassis. Nevertheless, I'm gonna tell you guys, my interest is piqued.
It gets better.
WHEEL tokenomics
The whitepaper states that there is a maximum supply of 100,000,000 WHEEL tokens with liquidity locked and the development fund vested at a rate of 25% return per quarter.
To provide a deflationary ecosystem, WHEEL tokens are burned every time they are spent in the game.
WHEEL tokens are earned:
- By beating track records
- By staking your gains, or
- By selling your assets in the marketplace.
Markets
WHEEL tokens are currently available only on PancakeSwap.
I know, it's gonna be a risk to invest in this one since there is no use case, it's only just been released and you can really only trade it on PancakeSwap. Still, I don't know, I've got my eye on it.
Of course, this is not an endorsement, and, as I always emphasize, please, please, please, be sure to do your own extensive research before you go out and spend funds on this or any other blockchain game. In the end, this is also an investment, and you want to be sure that you get the best returns for your bucks.
Eat My Dust!
So, guys, what do you think? Might we be seeing each other on the track anytime soon?
Should you decide to play, look out for me, I'll be the one leaving you in the dust! Ha, I'm only kidding. Might be the other way around, right? Lighten up a little.
Well, that's it for me for now, guys. Off to scout the metaverse! Until the next one, be safe! Arriverderci!
