Thesis - Speedstar may be the leeway to escape from the ponzi-side of the Gamefi

Hello, this is Rotten.
Today, I'd like to take a look at the whitepaper of SPEEDSTAR, an interesting Gamefi project that I've been helping out lately. I would like to present an thesis.
I hope you enjoy it.

Disclaimer
Is it profitable? How will I get my money back? If you have any questions, please do not read the article.
I'm a whitepaper researcher, a gamer, and a single-celled DOGE who lives off of interesting whitepapers and exciting games. 🤪🐶
I don't know much about money, and I can't give financial advice. 🤑

This project may be the 1% shining light in a 99% ponzi economics world.
(Recently, Japanese crypt communities are getting tired of all the ponzi-economics model gamefi projects)
What is it about this game that makes it different from all the others?
So let's take a look!

But before we get into the content of the whitepaper, I'd like to ask the readers, to bear with me for a moment of seriousness.
This is an important story that will lead to Token Economics later on, so please allow me to mention it here.

What is Ponzi Economics?

TLDR:
Ponzi is a company that invites investors to invest in it by "excessively" claiming high yields and profits, but since it can't invest enough to return the high yields, the source of funds (=investments) dwindles. 💸
We can't maintain the high yield at this rate! Let's recruit new investors and use the funds as investment income to pay dividends!
Now, you are arrested~! 👮👮

So why are P2E type gamefi projects prone to the ponzi structure?
It's because it's impossible to "acquire return" enough from users just "playing" the game, in order to maintain the yield of "Earn".

So, what is "Return" in P2E?
It is "in-game consumption (Spend)".
In other words, users who play P2E games are both investors and consumers.
The "Earn" you get is based on the "Spend" of one of the same users, but in a P2E game, everyone comes to "Earn", so the capital rapidly dwindles, and as a result, the entire yield pool goes bankrupt.

This is the reason why many P2E games become ponzi structure in the end.

Is P2E a scam?

TLDR:
I don't think so.

I believe that many blockchain game developers are still in the process of demonstrating how to establish a digital economic zone.
I believe that many blockchain game developers are still experimenting with the establishment of a digital economy, including the game content and economic structure, but also the development roadmap, funding speed, applications, and all other elements of the project.

(Although there are some scams that maliciously fleece the speculative money attracted by the blinding light of "Earn.)
In many cases, I think this is just an unexpected case of a ponzi structure, either because the attempt is too shallow, or because the implementation speed is not fast enough to keep up with expectations, and the project will collapse before it sees the light of day.
(Maybe I just want to believe that half the time.)

It is also important to note that in the latter case, investors who are blinded by "Earn" may be partly to blame.
When searching for projects, keep in mind the question, "Is the project so valuable enough that someone would choose to "Spend" rather than "Earn"?

I suggest that you read the WP beforehand to get an idea of the Dev's sincerity and beliefs, and the image of the users who will "Spend" before making a decision on whether or not to invest.

Now, let's get down to business and look at the token economics of SPEEDSTAR!

SPEEDSTAR is a "racetrack management" simulation project

That's right. It's not a "racehorse breeding" project.
The essence of this project is to realize a racetrack itself on the blockchain.

Up until now, many horse racing simulation games such as "Dabista" have been played through a variety of media.
In Japan, "Umamusume Pretty Derby" exploded in popularity, captivating all kinds of social game players.
However, these are all "racehorse" breeding games, not "racetrack management" games.

Let's take a look at the six player roles designed in the whitepaper and unravel what a "racetrack management game" is all about!

The six player professions

1/ Horse owner
2/ Breeder
3/ Trainer
4/ Jockey
5/ Therapist
6/ Gambler

1/ Horse owner

Ranch Management Simulation

It has a role as a 🏇"racehorse breeder" and "ranch manager".
I don't think I need to say much about it. This is the same part of the game as previous simulation games.
🏇They buy and breed horses, train them, cure them, hire jockeys, set up ranch facilities, and prepare for the coming races.

.
.
.
.
.
Hmm? Hmm? What do you mean "hire"?

This is where the true essence of SPEEDSTAR, the "Player Occupation System" begins.
There are four professions from 2/ to 5/, and each player can only choose one profession.

Well, what about the other three professions?
That's right! The horse owners need to hire other players! (lol)

And that's when the economic concept of this game project, "Work and Play to Earn" kicks in!

What's more, the player occupation is to take care of the horses from the "1/ Horse Owner" and breed, train, cure, and race them through mini-games.

And as a reward for the mini-games, the horse owner will "Earn" you a salary!
What a novel approach! This is Web 3.0 economy, the "labor to paycheck"! (lol)

I think of this system as a developed version of the scholarship system in Axie Infinity.
If you've ever played Axie, you're probably well aware that players had to play the most boring adventure game in order to earn money. (Sorry for the rant.)

So players were getting a share of the "hassle" of NFT owners who couldn't be bothered to play and earn $SLP on their own.

In SPEEDSTAR, the scholarship system exists as a basic design in the game and is divided into 4 types.

2/ Breeders

A. The breeder gets the breeding fee ($JOC) from the mare owner.
B. The stallion owner gets the stallion fee ($SPEED) from the mare owner.
C. The mare owner gets the foal (NFT).

🏇 The structure is such that C "consumes" in exchange for A and B giving up their respective assets (labor and NFTs).

Breeders gain proficiency by breeding rare individuals, which increases the odds of breeding better horses.

3/ Trainer

A. Trainers are commissioned by B. Racehorse owners to train their horses in their own training facilities.
🏇 Again, in return for A's labor, B is consuming.

The trainer can gain proficiency and greatly improve training efficiency by performing excellent training.

4/ Jockey

🏇Jocky run their horses in the seasonal derby races held for every three months and the annual grand prix race (!!!). In order to compete in these races, they good hire jockeys.

To enter the race, you'll need to hire a jockey, and by placing in the race, the jockey will gain proficiency and gain the upper hand in the race.

5/ Therapist

The therapist is a person who helps horses recover from injuries sustained in races and training.

Therapists can gain proficiency and improve their recovery efficiency by recovering from more difficult injuries.

So far, the structure has been clarified.
In other words, the horse owner is a "consumer" in the game.
By spending in-game tokens to train your racehorse, you will hire various other players and carefully select your racehorse.

6/ The Gambler

However, this game doesn't end there.

There is a sixth player, the "Gambler", who is a complete outsider to the game and can place sports bets (or bookmakers in casinos) on the Derby race, betting only money!

And since the bounty of the race is generated from a portion of this gambling betting pool, the 1/horse owner spends his days hiring 2/-5/ players to raise horses that can run in races that are of high interest to 6/ gamblers (such as the Grand Prix).

I said earlier that horse owners are "consumers," but in fact, there are "further consumers" integrated to support even that consumption!

An MMO simulation game for running a racetrack

Are you starting to get the picture?
Why do I call this project "Racetrack Management"?

It's only because this game project is designed based on a grand vision to completely recreate the real-world racetrack business ecosystem on to the blockchain!

Moreover, we are not running the business alone, we are just one role of the entire racetrack ecosystem.
I think it's no exaggeration to call this an MMO-type management simulation.

In fact, there are more ambitious revenue plans (such as selling race data APIs, attracting in-race advertising, etc.) mentioned in the WP, but I won't discuss them in this paper as they are still in the early conceptual stages.

If you have time, please read the original whitepaper while imagining the image of a "Spend" user.

End notes

How was it?

An ambitious attempt to establish an economic zone by inviting gamblers, the biggest consumers of capitalist society, into the ecosystem.
I'm convinced that this is the first time I've ever played a game where you can manage a racetrack not just a racehorse.

I am convinced that I might not "earn" any money from this project.

However, I am determined to proceed forward.
It would be a shame not to participate in such an interesting game.
Maybe I'm a gamer before I'm an investor.

Let's Enjoy the Gamefi!

Reference:
SPEEDSTAR Whitepaper
https://docs.speedstar.io/en/speed-star/speed-star

SPEEDSTAR Official Website
https://speedstargame.com/