Wolf Game is at the center of the buzz in the play-to-earn space in the past several days. The new play-to-earn platform has not even launched official gameplay yet, but has raked in millions in trading volume. In the past seven days, Wolf Game NFTs (sheep and wolves) have generated upwards of $2.8 million in trading volume, while land plot NFTs pushed even further with close to $8 million.
The buzz around Wolf Game started picking up last week, as Crypto Twitter celebrities like Beanie.eth and Gary Vee started talking about the game. But what is there to talk about? Why is Wolf Game so revolutionary that it has already attracted upwards of $10 million in combined trading volume based on nothing but an idea? Read on to find out.
What is Wolf Game?
Wolf Game is a play-to-earn game combining NFTs and DeFi mechanics to bring passive income to players. One of the critical characteristics of the game is that it places a significant focus on risk in decision-making.
This is where Wolf Game stands out from what we’ve seen in the play-to-earn space so far. Players have to carefully calculate the percentage of risk involved. Of course, the higher the risk, the higher the reward.
Wolves and Sheep
Wolves and Sheep are the two main characters in the game. Both sheep and wolves are mintable ERC-721 NFTs living on the Ethereum blockchain. The minting process for these NFTs also introduces the concept of risk. To mint, players need WOOL tokens. Depending on the stage of the mint, the price for a single NFT increases.
Interestingly, when minting, players have no idea if they’ll receive a sheep or a wolf. The chance of getting a wolf is only 10%. However, these predators play an essential role in the game.
In essence, sheep live blissfully in the Barn, and owners collect WOOL tokens for staking their sheep NFTs. However, just outside the Barn, a pack of wolves is anxiously looking for a way to get to the sheep. To protect their sheep, owners pay WOOL tax to the wolves. Wolves receive 30% of all WOOL proceeds coming into the Barn. However, there’s a catch. Wolves like to steal things. If you own a wolf NFT, you also benefit from the possibility that your wolf steals a sheep NFT for you.
The genesis NFT drop for wolves and sheep allowed collectors to mint an NFT for 0.069420 ETH. At the time of writing, the cheapest sheep on the secondary market is 3.99 ETH, or about $16.656. Wolves are soaring even higher, with the cheapest currently on sale for $35.774.
WOOL is the native ERC-20 token for Wolf Game. Staking sheep NFTs earns holders a passive income in WOOL. Holding a wolf NFT also earns a passive income in WOOL taxes. At the time of writing one WOOL token is worth about $0.16.
WOOL was also needed to start playing Wolf Game. According to the official documentation for the game, minting sheep or wolf NFTs required a set amount of WOOL, depending on the minting phase. Towards the end of the minting event, Wolf Game NFTs cost 80.000 WOOL, or about $12.800 with the current value of the token.
Land and Farmers
To keep up with the latest trends in the virtual world, Wolf Game has also introduced land deed NFTs. These deeds serve as boosters for sheep owners. Each land NFT is unique, with varying acreage, and capabilities that can be multiplied by Farmers.
Land NFTs allow players to cultivate assets and boost their performance. The way land was distributed in game is an important part of the success of the project so far. With a total supply of only 20.000 land plots, the supply is staggeringly limited. Additionally, half of this supply was reserved for Genesis NFT holders. These are the collectors who minted the first 10.000 Wolf game NFTs. They have the right to claim a land plot for free.
At the time of writing, all land plots available to the general public have been minted. If you want to get your hands on a land NFT for Wolf Game, you can do so on the secondary market. The floor price for one of these land deeds is currently 0.4 ETH.
Who is the Wolf Game Shepherd?
The novelty factor is strong with Wolf Game. However, the platform is further shrouded in mystery because the creator has not announced their identity publicly. For the moment, all official communication regarding Wolf Game comes from an individual called ‘the Shepherd’.
Speculation about the real identity of the Shepherd has been occupying Twitter threads since the launch of the game. Interestingly, the platform went through a series of smart contract problems during the public mint of sheep and wolves. Following the reveal of a glitch in the smart contracts that allowed collectors to tweak the code so that they were guaranteed to mint a wolf and not a sheep, the Shepherd faced a lot of backlash on social media.
Despite the rocky start, interest in Wolf Game continues to soar. Most impressively, there still isn’t much gameplay associated with the platform. Staking capabilities are live. However, the complete gaming experience is expected to launch in early 2022. For the moment, the Shepherd has not revealed details about the upcoming full launch of the platform.
DappRadar will continue monitoring Wolf Game, as this risk-filled play-to-earn game is already captivating the attention of crypto enthusiasts. If you want to learn more about the game, land plots, and the native WOOL token, check out the links below. To keep up with the latest news surrounding the Shepherd and Wolf Game, follow DappRadar on Twitter, and join our Discord channel.