AlpacaCity, the New Ethereum App That Sits At the Crossroads of DeFi & Crypto Gaming

Over the past few months, three key use cases of blockchain and crypto have been highlighted by market trends: prediction markets, monetized video gaming, and collectibles.

Von Christoph Miklos am 25.11.2020 - 11:23 Uhr - Quelle: E-Mail

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Over the past few months, three key use cases of blockchain and crypto have been highlighted by market trends: prediction markets, monetized video gaming, and collectibles.
Ethereum-based applications such as Polymarket and Augur gained much popularity over the course of the 2020 U.S. Election. Crypto-based video games have naturally gained traction this year as users look to monetize their gaming experience. And finally, crypto collectibles, better known as non-fungible tokens (NFTs), have undergone a renaissance as artists and gamers find use in decentralized technology and tokens.
Alpaca City sits at the crossroads of these three trends, seeking to revolutionize prediction markets, collectibles, and on-chain gaming all at once through Ethereum smart contracts and tokens.
What is Alpaca City?
Alpaca City is a recently-launched Ethereum game focused on combining on-chain gaming and collectibles, along with decentralized finance (DeFi). Think of it like CryptoKitties, the original Ethereum collectible application, on steroids, with a native token called ALPA.
At its core, Alpaca City is similar to CryptoKitties: users can adopt, breed, and otherwise collect creatures. Instead of CryptoKitties, you can collect Alpacas through this Ethereum-based game. These Alpacas move like other decentralized coins, rallying on increased demand from other users and decreasing on decreased demand.
Users can currently acquire Alpaca through OpenSea, a leading Ethereum non-fungible token market. What's interesting is that each Alpaca has different "traits" that will affect how it operates within this gaming ecosystem and its value. One rare Alpaca was recently sold for 10 Ethereum, currently worth around $5,000.
Alpacas can also be acquired by breeding together two tokens, which will incur an ALPA fee to the user. Breeding can help users collect unique creatures with secret traits that may give them a leg up and the ability to make more returns within the ecosystem.

Monetizing Gaming
It's important to once again highlight that Alpaca City is far from just an Ethereum-based game.
While it may be branded as an innocent game on a similar level to CryptoKitties, it is deeply entrenched in DeFi. It allows users to monetize a gaming experience and earn yields by actively using the protocol (e.g. obtaining the best Alpacas)—something that other on-chain games cannot claim to offer.
Alpaca City offers a native token called ALPA. Like with other top Ethereum projects, ALPA can be obtained through yield farming:
1. Users can deposit ALPA and ETH into the Uniswap liquidity pool, earning thousands of percent APY for doing so.
2. Users can stake their different Alpacas, which have different Energy levels, thus influencing the ALPA that can be earned.
This means that unlike other crypto collectible games, you can make money by holding Alpacas and by staking these same Ethereum-based tokens. Users can generate strong passive incomes simply by purchasing and collecting digital creatures with a high energy level, then staking them.
ALPA has a number of use cases:
1. It must be paid to the protocol to power two Alpacas to breed. 90% of the ALPA paid for the breeding fees will be burned forever, giving the coin a deflationary supply.
2. ALPA can be used to vote on community proposals, which will include how the governance fund should be distributed.
3. Unique upgrades to your Alpacas can be purchased through the Boutique, which will increase the energy level of your creatures.
One way in which Alpaca City has further diverged from the competition is the introduction of prediction markets through its Alpacas. Prediction markets are binary markets through which users can bet on the outcome of an event; the most famous of these markets are U.S. presidential election markets.
Alpaca City participated in the craze by launching two Alpacas, one that represented Trump and one that represented Biden. These tokens were Albiden and Trumpaca, which sold for 5 ETH and 5.25 ETH, respectively.
How this worked was that those that purchased the Alpaca of the U.S. election winner—in this case, Biden—was reimbursed what they bid, and they also received the amount paid by the winner of the Trumpaca auction. While a small example of prediction markets, it shows the power of implementing gaming into the booming prediction market ecosystem.
Alpaca City is set to become a leader in the Ethereum gaming industry as it looks to combine the best of what Ethereum DeFi and smart contracts have to offer, including prediction markets, collectibles, and yield farming.

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