What Is Moon Nation?
Moon Nation is a new tech company combining two of the fastest growing industries: cryptocurrency and gaming.
The main goal of Moon Nation is to create a video game—a next-generation, multiplayer, space-based role-playing game, to be precise—that gives players a new dimension of gameplay by tightly integrating a custom DeFi token into the game’s design. In the case of Moon Nation, this DeFi token is called $MNG (an acronym for Moon Nation Game). This type of integration provides players with a whole new system of economics that aren’t available in traditional video games, and blurs the line between in-game money and fiat currency.
Gaming on the Blockchain
Imagine a brand-new player who is enjoying their playthrough, and who wants to expand the scope of their gameplay. They decide to get a Moon Nation Passport: a unique, game-specific NFT that allows its owner to travel outside the game’s starting area and explore different planets. They can easily acquire some $MNG through an exchange, then use it to buy an in-game Passport. Any extra $MNG they have could be spent on other game NFTs, or exchanged for in-game currency to spend on items and weapons.
These in-game NFTs serve multiple purposes at once. They can be seen as collectibles, like pieces of art, but they can also affect your gameplay, such as the passport’s ability to let you travel to new places. These NFTs can also be seen as a store-of-value. For example, NFTs can be traded or sold to other players, so if you buy an NFT Passport when the game launches, you may be able to trade it for significantly more a year later, after the price of $MNG has risen.
These NFTs can also incorporate economic pressures into their design, and reward players who hold on to them in a growing market. The utility or power-increase that an in-game NFT offers your game character can be scaled up over time, based on the amount of time you’ve held it without trading or selling it.
Crypto vs. Casino Chips
Let’s consider another scenario. A player may win a prize of in-game currency after achieving a goal, winning a contest, or finding a treasure—this is a common occurrence in traditional games. But in a blockchain-powered game, the player can exchange this in-game currency for $MNG tokens, which can be traded for fiat currency and spent in the “real world”.
This system allows players to use $MNG tokens like casino chips: you can “buy-in” by trading $MNG tokens for in-game currency, then spend your in-game currency to both improve your gameplay experience and to try to win more in-game currency, which can later be cashed out again for $MNG. In other words: you can profit while you play!
The $MNG Token
This system relies on a well-designed token, which brings us to the creation of $MNG. The Moon Nation Game token runs on the Binance Smart Chain, and was launched on May 27th, accompanied by a tidal wave of promotional materials, influencer partnerships, and community support.
The token launch date coincided with a time of uncertainty in the crypto market, thanks to Bitcoin’s price volatility. But despite these circumstances, the token was able to achieve a marketcap of over one million dollars in its first week while acquiring 3400 holders. The success of the coin can be attributed to its carefully designed tokenomics, its expansive promotional efforts, and the support of its design team and community.
The coin’s development and expansion were spearheaded by the Moon Nation C.E.O. Ben Todar (@BenTodar)—an experienced crypto trader whose investment knowledge was built upon a background of OTC stock trading. Ben’s decision to fully doxx himself in the earliest stages of the project lent credibility to the token launch, and gave interested investors the confidence they needed to join the movement.
The project strived to inspire even more confidence by seeking out a compete audit of the $MNG smart contract from the experienced blockchain developers at TechRate, which confirmed the token’s longevity, reliability, and technical design.
$MNG’s tokenomics were chosen to accomplish four separate goals, through a four-way split of each 10% transaction fee:
3% of each transaction is sent to our liquidity pool on the PancakeSwap exchange. This inflow of tokens is crucial to maintain price stability over time. As the liquidity pool grows larger, the amount of price variation caused by each transaction grows smaller, which makes the market less reactive and price manipulation less significant.
3% of each transaction is redistributed to all token holders, in proportion to each holder’s number of tokens. This encourages investors to collect as many $MNG as they can and to hold them as long as possible. Those who held their $MNG from the day of launch earned 7.5% interest on their tokens in the first week alone through these reflection payments.
2% of each transaction is sent to a dead wallet, or “burned”. This removes them from the total supply and causes gradual deflation.
2% of each transaction is re-invested into the Moon Nation project by covering our continual costs for marketing and game development.
Although the $MNG tokens designated for project costs will be a useful source of funding in the future, Moon Nation is in the fortunate position of having its short-term costs completely covered by the 600 BNB raised during its pre-sale and whitelist sale. Many past token projects have been forced to push down their own price by selling their own tokens to cover expenses.
Moon Nation chose to learn from this mistake made by others, and planned out a three-part launch strategy that would give them multiple rounds of fundraising. The team won’t be forced to sell their own $MNG tokens for long into the future, after the market has had time to grow and the price has made significant gains.
Join the Moon Nation
There’s so much more that could be said about this innovative project, but we’ll leave it to you to look at the other educational resources that have been published on the subject.
The rest of its social media pages can be found at linktr.ee/MoonNation.