Bitchkoin Explanations

Bitchkoin is a new web 3 platform that integrates traditional gaming, metaverse technology and cryptocurrency in a mutually beneficial way for the creators of the platform and users who can earn income in several ways from the platform. The platform offers the first freemium HTML5 NFT games. Created by a team of experienced software developers, Bitchkoin employs marketable tokens and NFTs, regular tournaments, and passive income for creators and asset owners to give users of the platform a good return on investment for their time and effort.

Play to Earn (P2E) gaming is another major ideology behind Bitchkoin. This means that players spend time playing a game not just to have fun but also to make economic profit. In contrast to the Play to Win (P2W) ideology of traditional games (i.e., players spend time just to beat opponents and possibly progress to another level of difficulty), Bitchkoin promotes the ideology of Play to Earn to give more utility to the platform. This is accomplished in a number of ways which include;

- Collection of game tokens and game cards through gaming which can be transformed to cryptocurrency and NFTs respectively.

- Daily game tournaments where participants register with the native coin (Bitchkoin token) and compete to win prizes.

- Continuous increase in the value of tokens and NFTs held through the injection of a percentage of profit by the creators of the platform.

- Profit for creators of NFTs whenever the NFTs are traded.

- Support of loaning of NFTs for profit is also planned on the platform.

Built with support for Polygon blockchain, Bitchkoin  aims to introduce cryptocurrency to gamers and other members of the public in a fun, friendly and easily understood way. It also gives a major boost to the developing industry of E-Sports as it facilitates professional gaming as not just a feasible but also a lucrative career path. To find out more about the platform, read the whitepaper here.

Economics of Bitchkoin

Unlike many other gaming platforms which only benefit the creators financially, Bitchkoin was created to provide economic benefits for both the creators and the users. For the creators of the platform, they earn about 70% on NFT MINT and 6% on secondary sales. The users earn in the following ways;

1.       NTFomics:

Users of the platform can get NFTs by either creating them, purchasing them, or transforming game cards they have collected into NFTs at a price. These NFTs can then be sold on the market places, held to increase in value, or loaned to other gamers for profit. 

NFT owners on the platform earn passive income through a reflection of 30% of game profit which is paid to them for the NFTs. However, this exposes the platform to danger from whales who could avoid playing games and just accumulate NTFs by buying them. To mitigate such possibility that could subvert the purpose of the platform, the amount of reflection paid on NFTs reduces as the number of NFTs held increases.

50% of our fees are directly converted into BK tokens and put inside the NFT after mint and/or each trade. In other words, 15% of the previous value is put into the NFT, and it’s cumulative to ensure the last owner can get money back.

20% of our fees are redistributed to game studios and artists who created the NFT.

2. Tokenomics:

There are two main tokens used on Bitchkoin  ecosystem which are Bitchkoin token and MBC (Meta Bitchcoin) token. Bitckoin token is purchased at 1 € for 1 BK, and is used to obtain NFTs, register for tournaments and rewards. MBC token on the other hand is gotten from the conversion of off chain Rubies.

Excess game profit is stored on the platform as BK tokens which keeps it valuable while MGR tokens continuously increase in value due to the injection of profit to increase the floor price to convert game cards to NFTs. These injected values create active and passive income for users of the platform.

3. Tournaments:

Bitchkoin promotes E-sports by hosting regular game tournaments where players register with Bitchkoin tokens and compete against other players on the platform to win prizes. The image below gives a more detailed explanation of the tournaments.

Benefits of Bitchkoin

The BK ecosystem was developed to serve different kinds of users by providing various benefits to these users which are discussed below.

The platform allows gamers to choose which kind of game they want to play, using any kind of NFTs they prefer and any crypto assets that benefits them. It also enables them to create a dynamic E-Sports career through participation in tournaments or trading of game assets.

Players will have access to the BK ecosystem where they may farm content for their favorite games, develop their assets, and raise the value of those assets even as the policy of reinvesting a portion of transaction fees into NFTs ensures that the price floor is maintained throughout.

Also, while being protected by the blockchain, NFT owners will be able to use scholarship program and provide their NFTs to receive a percentage of the rewards in the future.

Impacts of Bitchkoin

The Bitchkoin gaming ecosystem is a revolutionary technology that will likely transform the gaming industry. With several useful features, the platform will possibly have the following impacts;

1.       It will transform the ideology of gamers from Play to Win to Play to Earn.

2.      It will radically expend metaverse ideology and technology.

3.      It will expand the crypto industry and draw less tech-oriented people into it.

4.      It will promote E-Sports and spread gaming tournament to more casual audience.

5.      It will create more avenues for professional gamers to make money.

6.      It will promote web 3 ideology among the general public.

7.      It will transform how games are developed.