The Introduction of $gin

The team has accomplished a great deal in a very short time. As we solidify our roadmap, smart contracts, and plans for TipsyVerse, we’re extremely excited to share that we’re on schedule for the launch of TipsyCoin in mid-March.

Since we started only 3 months ago, our team’s magnitude (both in numbers and competencies) has grown tremendously. With the help of bright minds and industry experts, and through intensive and dynamic discussions with our various partners such as Gaimin, we’ve crystalised our grand vision for TipsyCoin and TipsyVerse.

Shift from only PvP to PvE + PvP

Our core belief is that a project is only as strong as its community. The goal for TipsyVerse is to be an engaging, immersive and rewarding game that attracts and retains a healthy player base.

The initial concept of TipsyVerse was for it to be a Player vs Player (PvP) experience where TipsyCoin ($tipsy) would be used to wager in mini-games between players. These high octane, fun mini-games include racing, skiing, skydiving and so much more! 

While the PvP concept still remains a key part of the TipsyVerse experience, the team believes that adding a Player vs Environment (PvE) aspect, makes the game experience holistic and immersive, dialling up the engagement for players of all backgrounds. The PvE experience lines up with TipsyVerse’s main goal; for TipsyVerse to be a free game with play and earn benefits. TipsyVerse also now has rewards such as in-game currency for players who successfully complete tasks, quests or activities.

The PvE experience is further enhanced by benefits such as consumables. Consumables are non-NFT in-game items that can be used for various purposes such as healing and granting a temporary boost to a player’s stats.

Examples of consumables include healing and enchantment potions which can be traded or sold within the game. Essentially, players can earn $gin and profit from selling their consumables to others. The concept of consumables introduces a completely new dimension that goes beyond our NFTs.

Some examples of PvE activities that reward a player with $gin and NFT drops include:
– Dungeon Crawls: Where players fight against hordes of monsters for a chance to loot in-game rewards from drops.
– Treasure Hunts: Where players search through an open area for treasure boxes containing attractive in-game rewards.
– Mini Games: Where players take part in activities like kart racing and battle royale for in-game rewards as prizes.
– Daily Quests: Where players complete specific missions assigned to them for in-game rewards.

Why the need for a second currency ($gin)?

$tipsy alone, isn’t enough to play TipsyVerse. When players are rewarded for completing PvE quests and games, the tokenomics structure becomes complex if there is only one currency within the entire ecosystem. As we reward a growing player community with currency, there is a constant need to maintain the in-game economy’s balance to prevent inflation and currency devaluation. 

$tipsy is a currency that benefits holders through passive rewards and appreciation in value (capital gain). It also has a maximum supply of 100 billion and since no more $tipsy will ever be minted, it is not feasible to reward players with $tipsy in-game. As we expect a rising popularity within the gaming community, $tipsy will remain as our governance token which propels the entire ecosystem.

$tipsy is also not a good option for trading non-NFT consumables as $tipsy is a deflationary currency. This would discourage in-game spending by players. However, we offer the option for people to purchase their NFTs using $tipsy as the nature of the transaction is different – NFTs are digital assets that are individually identifiable so when one uses $tipsy to purchase NFTs, they are exchanging one digital asset for another. Consumables however, are not NFTs and are instead boosters for players. Hence the need for $gin.

We now present $gin.

Relationship between $tipsy and $gin

$tipsy will still be used as the currency for buying NFT items when our marketplace goes live. NFT items in turn directly help a player to earn more $gin. How so? NFT items boost a player’s stats so that they can increase their odds to successfully clear Dungeon Crawls, Daily Quests, or win PvP competitions. Owners of NFT land can also be compensated in $gin when they rent out their land for events held by commercial or private entities.

Certain NFT items can also increase the chances of getting favourable consumables as rewards, allowing a player to indirectly increase $gin earnings through the sale of better-quality consumables in the marketplace.

A bonus staking feature will also be introduced where staking $tipsy rewards the holder with $gin and grants them special tiers depending on the amount of $tipsy staked. Holders who are awarded a tier are entitled to exciting benefits that will be announced.

On the other hand, $gin will be used to facilitate everyday activities in TipsyVerse such as breeding, buying non-NFT consumables, participation passes for contests, and gambling in the Grand Gin Casino (GGC). Oooh, what’s the Grand Gin Casino you ask? The GGC is something exciting that we’ll cover in future, but for now we’d just like to highlight that gambling using a secondary currency in $gin makes a lot more sense than on $tipsy, which is much better being held or staked.

Security is what we take pride in, and $gin will have a separate contract address and a separate audit on its own. $gin will be launched on polygon following the launch of TipsyVerse 1.0.

Concluding Thoughts

$tipsy and $gin have their own distinct roles and $tipsy helps you to earn $gin as both direct and indirect rewards. Holders thereby have an increased incentive to hold $tipsy on top of being passively rewarded with more $tipsy. And since $tipsy would not be used for daily in-game transactions or given out as Play-to-Earn rewards, we’re effectively reducing the selling pressure of $tipsy.

With this arrangement, $tipsy will stay true to its purpose as a coin that rewards its holders and we are confident that $tipsy holders would benefit through value appreciation in the long run as the project evolves and grows. 

Be sure to keep a look out for the launch of $tipsy in March!

Psst. A bonus hint for those who made it this far: There will be a chance to earn $gin before its official launch. Just remember to hold your $tipsy.

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