The Economic Manual of dotmoovs
This article has been updated on March 8th, 2022 — “Using & Renting NFTs” regarding Polygon’s positive impact for the users.
We have been releasing the information on how the whole dotmoovs economics work. It’s now time to put everything together in one comprehensive article that gives a full insight on the most important questions about the World of dotmoovs.
Summary:
1. Intro
dotmoovs has recently been showing how the world of sports might be on the verge of a revolution
The emergence and rapid popularity increase of the play-to-earn platforms has shown us that we’re on the right track. In one of the latest efforts to mix together sports and blockchain, the first NFT Collection — named “The Balls” — has been launched. In fact, these utility NFTs are bringing a whole new gamification level to the app.
Just like in real life, you will need a ball to compete for rewards
Just like in real life, if you want to play against others you need a ball — but fear not, you don’t have to own it, you can just borrow it from someone and share the revenue if you win.
Adding this reality to others already introduced in the past — like sports mining and investing in challenges to compete and collect the rewards — provides several revenue streams for dotmoovs’ users.
Like we mentioned, we want to give you a full picture so you can better understand the information that will be released during the following days:
The user will be able to use $MOOVs to:
1. Buy NFTs
With NFTs, the user can:
Play challenges and earn $MOOV if he wins challenges
Rent the NFTs to others and earn $MOOV if others win challenges using the NFT rented
2. Invest in challenge mode
By investing in challenge mode, the user can:
Earn $MOOV by winning 1vs.1 Challenges
Earn $MOOV by winning Tournaments
3. Stake in Sports Mining
By staking in Sports Mining, the user can:
Multiply and earn staking rewards
2. Using & Renting NFTs
Have you tried to juggle a ball without… the ball? Not really a great idea, is it? Well that’s exactly what we’ve brought to our universe: the need to have the appropriate gear to play the game.
So, do I need to use one of the NFTs to play? Yes, but fear not — you don’t actually need to own it. Once you have selected a challenge, you can easily select one of your “balls” or simply pick one of the available ones on the market to be borrowed.
In fact, these utility NFTs are bringing a whole new gamification to the app and whether you are good at sports or not, you will have a place in the dotmoovs world. If sports is not your thing, you can buy the NFTs, lend them to other players and share the revenue if they win the challenges.
We have been looking for beneficial solutions for our users — specially regarding the burden fees currently being charged by some providers. That’s why our marketplace is now running on Polygon’s chain, allowing lower fees for everyone.
If you are keen on sports but you don’t want to spend the money nor do you completely understand the crypto world well enough to buy the required NFTs to play, you can simply pick one of the available ones, play and share your revenue with your sponsor!
And in fact, even if you love sports and NFTs, but you don’t have the time to be constantly playing, just make your “Balls” available in the market and win while you can’t play that day!
It’s a win-win situation!
The fact is that crypto and sports are still two different worlds that only a small percentage of users are able to combine. This means that many of dotmoovs supporters can’t juggle a ball nor dance an Argentinian tango, but are willing to invest in the platform and support some rising stars. On the other hand, many skilled players don’t want to spend the money, nor do they completely understand the crypto world well enough, to buy the required NFTs to play challenges and tournaments.
This idea gives strength to the moto “sharing is caring”, allowing both parties to win — while one plays, the other supports the player by providing the required “ball”.
How to use them?
Soon, players around the world will start using their dotmoovs’ NFTs to enter 1vs1 challenges. Just like in real life, you will need a ball — in this case from “The Balls” — to enter a competition.
This layer brings a whole new level of engagement and gamification to the competition, because “The Balls” are thought to be dynamic assets, where the more you play, the more they change — carrying an increased importance to some games. But let’s leave that for later!
To enter specific challenges and tournaments you might also need a combination of different and specific balls. That’s why we’ll be introducing the Renting possibility very soon.
How to rent them?
How are your soccer skills? Not good enough but you wish to enter some competitions anyway? Why not rent your NFTs to someone who’s good at it and share the profits? Boom! Welcome to dotmoovs’ Renting!
“The Balls” will be a big part of the dotmoovs world and we couldn’t leave any of our communities behind. Renting will be the answer to quickly enter a 1vs1 challenge or to have all the NFTs needed to engage in a more complex and competitive tournament. Since all users will be required to have a “Ball” to play, we need to make sure that the whole gaming experience is as seamless as possible. So, if you don’t actually own a “Ball”, you will find one in a matter of seconds with our suggested renting — and the only thing you’ll need to do is to share the profits if you win the challenge.
If, on the other hand, you are the owner of the “Ball”, you just need to add it to the renting market and make it available to other players to pick it. If they pick your ball and they win the challenge, you get instant revenue — just like a good sponsor!
How to win them?
Can I win some “Balls”? Short answer: Yes! We at dotmoovs love to have you engaged and pumped about our game and that means giving you the chance to win great prizes, including NFTs!
We’re constantly conducting initiatives to have you onboard our challenges and achieving goals like the High Scorer of the Month will surely guarantee you some “Balls”. Make sure you pay attention to our channels!
3. The Bonuses & Challenges
We are a game, but not like the ones you know. We take you away from your screen and make you interact with the real world. You don’t use controllers or touchscreens to play — you use yourself and your physical prowess. We want players to be engaged and having fun, enjoying the perks of being active, improving their skills, facing obstacles and learning how to overcome them.
We’ve introduced Sports Mining a while ago in order to compensate those who are active and committed to the game. In fact, Sports Mining is highly connected to the Bonuses being introduced in the platform.
Getting rewarded for consistency
At the end of each week, the users are going to be rewarded. Most of the Weekly Bonuses are concerning the number of competing challenges played and the number of consecutive days with at least one challenge. Those Weekly Bonuses can be achieved by anyone on the app and are shown on your profile.
We intend to introduce different challenges throughout time, so don’t be surprised if you see different incentives from one week to the next.
But that’s not all…
Consistency is king. At the end of each month, the TOP 15 Sports Miners are rewarded according to the number of competing challenges they’ve played. If needed, a tiebreaker will be applied concerning the average score per challenge and the average investment per challenge.
We intend to make dotmoovs a fun and entertaining app that brings people from all over the world together and that makes them want to stick around.
And since we’re on the topic of bringing people together, we all know that sports is a major catalyst for gatherings and live streaming — so we sure are thinking about cool stuff for the thousands of users who will want to join the app just for watching others compete.
The playing process is rather simple, and here you can see how the dotmoovs universe works:
After you download the app, you can either choose the “Competing Mode” or the “Training Mode”, both work in similar ways but the magic happens on the first one. In the competing mode, the player can use or get $MOOVs, our token, to buy or rent one of the “Balls” to compete against others.
After the challenge has been completed, if the user wins it, he either gets the whole pot or part of it (if he borrowed a NFT, he will share with the owner of the ball part of his profit).
4. The xMOOV & Rollovers
xMOOV & MOOV
Some time ago, even before the app was made public (Beta Version), dotmoovs started using a different naming for its token. Due to some technical, legal and financial constraints, it didn’t make sense to use the same name for the trading token inside the app and the digital asset traded in different exchanges around the world.
xMOOV is our in-app token that is exactly equivalent to $MOOV coin. In order to avoid on-chain transactions (which are costly) and for legal purposes, xMOOVs are in-app and off-chain credits worth the same as $MOOV . This way, you can trade, earn and spend xMOOV without the burden of paying expensive gas fees each time a transaction occurs in-app. However, you can easily connect your wallet to the app and transfer the money from the app to your wallet or vice versa.
Rollovers & Withdrawals
You’ve earned some bonuses and now you’re eager to learn how to cash-in those $xMOOVs? Then, you came to the right place. First, let’s understand the meaning of a rollover:
A rollover is the $xMOOV amount you need to use in-app before a bonus becomes eligible for withdrawal. Rollovers are often bonus offers for making your first deposit or to allow you to use the app free of charge, with the stipulation being that you have to use a certain amount to receive the bonus.
At dotmoovs, when you win a bonus or are given a promocode that gives you access to a certain amount of free $xMOOVs, you always need to win at least x5 that amount before being able to withdraw it. Let’s give a practical example:
You’ve just joined the app with the promocode “MOOVFTW” [not a real promocode btw] which gave you 50$xMOOV to start playing. That bonus is yours to use in as many challenges as you want. Once you’ve invested 500$xMOOV you’ll be able to withdraw your bonus. You can achieve that in roughly 4 games if you go all-in!
Total Pot is “Your Amount+Other Player Amount-Playing Fee”
Your Investment refers to the accumulated amount
Even if you lose some games, you can deposit more $xMOOVs to play and once you’ve won the amount needed you’ll be able to collect your bonus!
