Decentral Games, the studio behind Decentraland's most popular gaming venue, has successfully implemented a plan that will help the project to decrease ICE token emission by 55%.
In order to achieve the drop, developers have changed the type of rewards obtained by eligible players who rent the wearable NFT required for joining the game. With the new plan implemented, instead of receiving ICE rewards directly, they will obtain "banked ICE," which can later be used to purchase wearables and shine in ICE tournaments.
This week, we purchased 1.02M $ICE from protocol revenue and added it to the ICE-USDC liquidity pool:https://t.co/ueArNl7BH7— Decentral Games (@DecentralGames) September 27, 2022
Another 1.63M $ICE was burned by community members playing Tournament Mode
Breakdown below 👇
However, the change will not affect players who own their wearables as they are part of the Play & Own model that the project is shifting toward from Play-to-Earn, which gives players a path to owning assets themselves.
The change does not affect players who own their wearables, while Banked ICE offers a direct path to ownership of NFTs. This comes as part of a shift from a Play-to-Earn model to Play & Own, giving players a path to owning assets themselves.
The new model will most likely create a shift in the player base since its goal is to make a more player-owned ecosystem that will bring more committed and long-term players who will show and improve their skills in games with other players.
The project's main goal was to urge users to hold the received ICE, which was not the case while the old model was active. Most delegated players were immediately selling the ICE they earned. With the change to Banked ICE, long-term holding of the token will offer players more benefits, turning delegation into a path to ownership.
In case delegators are willing to redeem tokens for ICE, they will suffer a 70% penalty and require a minimum balance of 6,666 Banked ICE.