Blockchain gaming is the hottest niche out right now.
But there's one platform poised to be the leader in this space.
I'm not trying to play games with you.
I'm talking about Phantasma.
I'm going to tell you today why I think it's fantastic.
Let's get it!
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Welcome to BitBoy Crypto! The largest crypto channel in all the Interwebs.
My name is Ben.
Everyday on this channel, I show you how to make money in cryptocurrency.
If you like money and crypto, make sure to hit that subscribe button
and smash the like button if you like games.
Today, we're going to be covering Phantasma.
It's a project we looked at over the summer that went on an absolute tear after our coverage of it.
Recently, the Phantasma team reached out to me and asked for me to take a second look
at what they're doing and I was shocked at how much gaming development they've done.
But I would like to say a special thank you to SOUL for sponsoring this video.
And for anyone who is interested,
this is in fact the coin I teased a few days ago on the livestream that is available on KuCoin.
So let's dive in.
Phantasma is pitched as a fast, secure and scalable blockchain solution for gaming, NFTs and dApps.
The blockchain is powered by a dual token structure,
the governance token (SOUL)
and the energy token (KCAL),
which allows for interoperability with other blockchains while maintaining a decentralized governance system.
Phantasma supports tri-chain interoperability between Phantasma and Neo and Phantasma and Ethereum,
although the cross-chain capability between Neo and Ethereum isn't quite possible yet.
Phantasma enables smart NFTs, infused NFTs, multilayered NFTs with very cheap minting.
So cheap, you might be able to find them by the register at a Mexican restaurant.
So, what are smart NFTs?
With typical NFTs, you can purchase as an in-game item, crypto collectibles, exclusive music releases,
a ticket to an event, land titles and so much more.
Smart NFTs build on the original use cases of digital non-fungible tokens,
take things to the next stage by adding properties like time-based access
and infusing the NFTs with other assets.
Last year, at the PAX online gaming conference,
GOATi Entertainment debuted the world's first time-based NFT in their RTS racing game,
22 Racing Series.
This NFT gave attendees the ability to play the game for a short period of time in beta.
The game 22 Racing Series is one of the first games to utilize Phantasma's chain for NFTs.
22 Racing Series isn't just another NFT game though.
The game is featured on the infamous gaming platforms Steam, PS4 and Xbox One.
22 Racing Series allows its users to buy and trade vehicles or make assets to sell or license,
while the non-fungible tokens gives you ownership control and flexibility.
Cars themselves are actually a combination of these multi-layered smart NFTs
consisting of 25 or more individual NFTs to create a hypercar within the game.
This takes the infusing or fusion of NFTs like the breeding of CryptoKitties to a whole new level.
For those who don't understand the concept,
it's essentially the combining of NFTs to create cars within the game that you can then race.
But it doesn't end there.
Smart NFTs also allow the infusion of other digital assets into an NFT by giving artists and developers
the ability to create NFTs infused with Ethereum, KCAL or SOUL as examples.
In addition, these NFTs can also be combined with each other as previously mentioned
which creates unlimited possibilities.
Oh, and you're not limited to a single asset.
You can put a little SOUL, a tiny bit of ETH, a hint of Neo infused into just one NFT.
Users can burn the original NFT releasing the assets to the user's wallet.
The game itself allows both free-to-race and pay-to-play tournaments,
where you can compete against others.
22 Racing Series is actually a game in partnership with big name brands like SteelSeries and AMD Radeon.
Phantasma makes this easy with cross-chain NFT marketplace called GhostMarket,
which has a uMint NFT Factory to mint NFTs
with a single click and without any coding skills necessary.
And that's good because you don't know how to code.
What's more, the network fees are so low that you can mint 100 NFTs in a single transaction
for a total of approximately $5 worth of KCAL.
That includes the fees for using the GhostMarket service.
But wait, there's even more.
NFTs that are minted on GhostMarket can hold both ROM and RAM data.
The ROM is immutable storage which can never be altered after the NFT has been minted,
while the RAM can be reconfigured, as example, when your character levels up in a game.
These smart NFTs even enable artists and developers to program a royalty,
which enables an artist the ability to receive a percentage from every second hand sale of the NFT.
While the focus has been gaming in this video,
the NFT marketplace allows musicians to mint NFTs of their new tracks as well.
Additionally, 22 Racing Series isn't the only planned game.
Phantasma's blockchain also has a gaming hub built on top of it called Pavillion,
which is integrated with Steam.
The Pavillion application is available both as a web version and a native app downloadable on your computer.
The integration allows developers to sell their game to customers on either just Steam
or on both Steam and Pavillion,
and to take advantage of the blockchain backend by delivering NFT assets to both.
NFT assets can be anything from game licenses to mods, expansion packs and in-game items on Pavillion.
NFTs correlate 1:1 with in-game inventory. Publishers are able to offer everything from games,
to mods, to expansion packs and in-game inventory items
as both blockchain assets and regular items purchasable on Steam.
Just imagine if Fortnite or one of those other popular games implements NFTs for users.
Such a system could be huge.
Phantasma is the top platform that can actually deliver that to reality.
So let's talk just a little bit about the tokenomics of SOUL.
Phantasma also has an innovative staking mechanism besides its advanced non-fungible tokens.
Phantasma staking is lucrative,
offering up to 15% for choosing to lock up 50,000 SOUL at the time of this recording.
Don't worry, if you can't afford 50,000 SOUL,
you will still receive 0.002 KCAL a day for each staked SOUL.
However, if you can reach 50,000 SOUL,
you will receive 100 KCAL a day and an additional SOUL from a pool of 125,000 SOUL tokens a month.
Hey, offering up your SOUL I guess ain't that bad.
Further though, the interest rate can go up to 18% a year.
If you hold 50,000 SOUL, you're known as a SOUL Master.
And there are currently 792 SOUL Masters staking on Phantasma.
This means there's 39,600,000 SOUL locked up.
According to CoinGecko, there's a total of almost 100 million SOUL
and a circulating supply of 96,730,000.
This means there's almost half of SOUL locked up in SOUL Master nodes,
and that's just the ones counted as SOUL Masters locking up 50,000 SOUL tokens.
That's a lot of SOUL talk.
However, that's just what's shown on CoinGecko.
Further inspection shows that the SOUL NEP5 or NEO tokens has a zero supply which means infinite.
And the Phantasma Explorer shows the same.
One last audit, the Ethereum-based Etherscan shows a max supply of 1.588 million SOUL.
So it's assumed that SOUL has no max supply.
That doesn't mean that it can't have any value the way that its NFT system is designed.
For example, look at Steemit or Hive, which have no max supply in NFTs.
Okay, so you're excited about SOUL. Where can you get it?
Well, you can purchase SOUL and KCAL on a number of exchanges,
KuCoin, as mentioned earlier,
Uniswap, Gate.io, Bilaxy and HotBit, to name a few.
If you want to check out KuCoin, you can do that by visiting bitboycrypto.com/deals.
We are a big fan of KuCoin. We like a lot of low cap gems there.
Let me know what you guys think about Phantasma though and drop a price prediction down below.
That's all I got.
Be blessed.
BitBoy out.