It has been over two weeks since Holozing was released, and I have religiously been claiming into stake and watching it grow. I have also set some unstakes to have some liquids, the first of which I stupidly dumped onto the market in the hope that it would push the price downward so that I could enter into the pool. Unfortunately, that hasn't been the case, so I am still not providing any liquidity, which is not ideal.
So, I upped my delegation slightly to improve my token draw on the daily pool, so I am currently drawing about 500 ZING per hour, about 12,000 a day. This of course will decrease over time as more people delegate and stake to earn. Currently, @zingtoken has almost 2.2M delegated to it, which means it is able to earn from that also. This is good, so that the team can keep building.
The ZING token has been surprisingly resilient, which is because there is a cost to getting it through delegation and staking. Delegation is risk free in terms of initial capital, but isn't "free" in terms of earnings, as HIVE stake can earn through curation. It is good to have a tradeoff at this stage though, for as I have said before, free tokens get dumped. We have seen it many times in the past when there has been airdrops of tokens to people who aren't willing to pay a cost to participate. Pretty much, when tokens have been dropped on HIVE STAKE, many will automatically dump it, dropping the price quickly.
My own plan is to sell some at some point, but buy back more than I have sold. I do predict the price will go down over time, but I also think that when the game is getting closer to release, there will be people who will want to be involved, and this token is an in-game token. At least for a period, people might be looking to buy from the market.
I am looking forward to the game itself and I hope that people are going to play it when it arrives, because I think it might be something a bit more unique to the Hive ecosystem. There is obviously potential in web3 gaming, but the range of game has to grow, as do the styles of gameplay. I suspect that in time, there will be more hybrid games being built, where the blockchain is used for the economy and tracking to prove fairness, but the games themselves are handled elsewhere. We often talk about cross-chain functionality, but this will include cross technology processes too, to make far smoother gaming experiences, but still with blockchain and crypto powers.
But, I think that they have to be built with web3 in mind, rather than just convert to web3 after the fact. Web3 native games will hopefully get more attention in the gaming sector, and the play to earn model should be attractive, especially for those who are already playing a lot, for no return. At the moment though, there is a large gap between what is able to be built on chain, and off.
What I find interesting about gaming in web3, is that if it gets significant support, it forces investment and it forces a landscape of other businesses to enter the space. There is so much money in the gaming industry, that if five percent was to move over, it would be around 20 billion dollars a year coming into blockchains. That might not seem like a huge amount, but it will mean that other companies will come in to capture some of that value too, and then pretty soon, it will be ten percent support. And once it starts, it can shift fast.
We can look at electric cars as an example, where in 2020 they accounted for 4% of total car sales, to now, three years later making up 14% of all new car sales. And, that also means that there is a growing secondary market for electric vehicles too, so as new electric car sales increase, the used market increases also and pretty soon, the amount of electric vehicles in circulation becomes the majority of cars. In Norway, 65% of cars sold are EVs.
These are all steps in the chain for crypto, blockchain and web3, that once there is enough ubiquity, the industries start to flip into crypto, and uptake becomes parabolic. While it might not feel like it on a daily basis, we are at the forefront of the curve, part of the experimentation of what is possible, and what could be possible tomorrow. Right now, there are a lot of naysayers, but not much more than five years ago, many people also believed that EVs would never make it into the mainstream.
I don't know what this will mean for Holozing down the track, but I believe that when I invest into it, I am playing a small part in building the kind of future I want - where there is decentralized ownership, personal control, and the ability to earn as part of a distributed community, rather than need to ask for permission to do anything.
We can't all be the change we want to see, but we can all support the change we want to see in the world.
There are many ways to show support, but in general, lip service is not enough - you need more skin int he game than that.
Taraz
[ Gen1: Hive ]