Genopets makes it fun and rewarding to live an active lifestyle. A Genopet is your digital pet — as you push yourself and evolve — so does your Genopet, its development inextricably linked to your own. You also earn crypto as you play. Through exploring, battling and evolution, the steps you take every day powers your Genopet’s journey through the Genoverse.
NFTs are an emerging technology in web3 gaming (we believe it’s the future). Through NFTs, gamers can store in-game assets (like accessories, weapons, characters, clothing, etc.) on the blockchain. However, where you're chopping wood in a game, each piece of wood generally has the same value. NFTs represent a unique item, and a unique opportunity presented itself — a new token standard: SFTs.
SFTs are making waves in the gaming space. Metaplex introduced the Fungible Asset Standard to the Solana ecosystem, which defines an SFT as “a token with metadata that can also have attributes, sometimes called Semi Fungible.” Projects built on Solana can use this standard to create fungible assets (SFTs).
For gamers, SFTs are the latest addition to GameFi, bringing familiar web2 gaming mechanisms like “stackable” assets onto the blockchain. SFTs are a useful way to “stack” like-for-like assets in the player’s inventory, when in-game assets are not 1:1 and can be redeemed in greater quantities.
For creators developing games on the blockchain, SFTs lower the amount of resources needed for players to efficiently mint and transact during gameplay. SFTs minted on Solana share a “Mint Account”, which results in less storage used per asset and lower minting fees. It’s a win-win-win.
“Let’s say you want to sell 10 Water Crystals for some Fire Crystals to craft a new Augment. Instead of selling 10 NFTs individually, SFTs let you do so in one easy transaction. When you mint an SFT, you’ll notice the fee is substantially less than that of minting an NFT. SFTs all share a single “Mint Account” on Solana and can have a zero decimal supply greater than 1, whereas the supply of any given NFT can only be 1, meaning they cannot share a single mint account.”
As a result of SFTs, gamers can simultaneously experience more efficient gameplay via one-click trading features.
In the Genoverse, Terraform Seeds and Refined Genotype Crystals are used for crafting and terraforming. Crystals are base layer materials used for crafting other items and players will be able to use multiple quantities of them at a time. Terraform Seeds allow gamers to make aesthetic customization and performance upgrades to evolve their Genopets’ habitats.
Crystals and Terraform Seeds are among the first Genopets SFTs that will be listed on Magic Eden’s marketplace. All Genopets Seeds and Crystals created in the future will follow the SFT standard. In the upcoming launch of the Habitat management portal players will be able to swap their older NFT Crystals and Seeds for SFT equivalents.
On 27 July, Magic Eden introduced SFTs on our marketplace. The Genopets community can now mint and trade in-game SFTs vital to their crafting economy, like Crystals and Terraform Seeds, through the Magic Eden marketplace, creating a more efficient gameplay model. Our marketplace is also supported by Serum’s asset agnostic orderbook, which allows protocols to use Serum as their backend matching engine for any type of financial product.