A new viral money-making game industry project called HIFI Society has set its sights on industry domination through game proven in building blockchains and crypto communities.
In this article, we take a look at how they plan to do it with a toolkit involving games, cryptocurrencies, and NFTs.
What is HIFI?
HIFI is an emerging Play-To-Earn crypto gaming project that seeks to be a leader in the industry. This is the first major project of the HIFI Society ecosystem.
HIFI wants to build paths for players as well as for artists by helping them build their professional careers on the blockchain. Simultaneously, their platform is designed to attract game studios and game developers to list their old games and re-activate revenue using HIFI’s reward engine. Its game economy platform includes more than thirty retro video games, as well as rewarding experiences and services. And it’s designed to get better with age. Equipped with an exclusive game analytics backend to enable HIFI to constantly improve their user experience based on player activity.
Users and community building first
In a cryptocurrency industry riddled with pump and dump schemes as well as well-intentioned projects too focused on short-term price action, the individual user is often left behind.
The team behind HIFI has chosen a different direction. Long-term price appreciation depends on use cases and a strong community. They therefore put the community and the users first. The value of a platform and its cryptocurrency tokens is only of value to its users.
HIFI seeks to target, engage and retain different elements of the community according to their needs:
- Inventors: want a return on investment
- Traders: want volatility
- Players: want to play
- Competitive players: want to compete
- Viewers: want to be entertained
Already in beta with over 1,000 users, as well as a community of over 5,000 users on Twitter, HIFI seeks to combine the successful traditional elements of a fun user experience with blockchain innovations. Here’s a look at what’s on-board.
Elements of the HIFI ecosystem
The first element HIFI draws on is the gamer nostalgia that users have for retro games. They have acquired dozens of games from the 80s, 90s and 2000s and one of them is ideally designed for keyboard gaming, others for joystick gaming. Their aim was to provide something for a wide range of players.
Now enter the competitive game. Esport has been a growing trend for decades, with professional teams organized at the professional athlete level. But for the most part, eSports has been a closed group of very professional people. What about something for the everyday user who just wants to have fun or in between?
HIFI has integrated blockchain into the platform to make the user experience appealing to all levels of gamers. The $ HIFI token was built on the Binance Smart Chain to optimize the user experience with the lowest fees. The token comes into play in several ways:
- All users will need to wager (not spend) tokens to participate in the platform.
- Users can earn tokens by participating in the platform.
- More dedicated users can participate in gaming competitions and earn even more tokens.
Following the launch of the platform, one of the next steps in the roadmap will include the implementation of staking rewards. More serious competitors can increase their earnings in this way.
Additionally, $ HIFI will engage in quarterly token burning, buying back tokens and destroying them to reduce supply, create upward pressure on prices, and entice all community participants.
With the launch of the HIFI company’s gaming platform in the following month, they have already focused on building other elements of their ecosystem, which will link with HIFI Gaming.
The next phase will include launching NFT in popular third-party markets, showcasing artists, musicians and player influencers with co-branded NFTs, and activating the NFT utility in their own NFT marketplace, which will be aimed at artists as well as players using the system. There is also a plan to integrate yield farming. This is one of the reasons the team chose to create the $ HIFI token on the Binance Smart Chain.
HIFI’s target is a large, dynamic and growing community, with a range of different participants who are each rewarded for their participation, and a platform that responds to their demands.