Wreck League investment research report: Boring Ape and Animoca join forces to create a 3A-level PVP fighting chain game

Project Description

Wreck League is a AAA real-time PVP fighting game from nWay in partnership with Animoca Brands featuring mobile and PC cross-play. Wreck League will feature diverse characters from several Web3 projects (starting with Kodas and Bored Apes from the Yuga Labs ecosystem), and real-time PVP battles, players will be able to own unique mech parts in the form of NFTs, and they can be Combine to build custom battle characters that can be used in battle.

author

JUMPENG, WJB senior researcher. Master of Finance, Huazhong University of Science and Technology, 7 years of industry experience, good at Layer1, DeFi, NFT, Layer2, Gamefi and other fields, research projects 2000+, produced more than 500 in-depth research reports.

1. Research points

1.1. Core investment logic

The production team of Wreck League, nWay, has developed this AAA-level real-time PVP fighting game for more than two years, using the technology and experience accumulated in the development of the Power Rangers series of games, combined with the influence of the Animoca Brands circle, and Yuga Labs has reached a cooperation, and will include Yuga Labs' NFT series in the first season to introduce the storyline of the game. In the special Wreck League competition, players will play against Yat Siu himself or his selected team. It is also planned to set up a personal prize pool for this competition, and the rewards will be valuable NFT. Combined with the news of the strong alliance, Wreck League quickly gained popularity in the community A certain amount of attention. The core investment logic of this game project is as follows:

Team strength: This project is jointly developed by nWay and Animoca Brands. Both companies have rich experience and professional capabilities in game development and community operations. The team does not understand blockchain games, the Web3 team does not understand game production, etc.) to form a complementarity, which can guarantee the quality and innovation of the game.

Game performance: After more than two years of production cycle, the game may have paid attention to the fine polishing of game mechanics, content richness and user experience, providing players with a high-level game experience. It can be seen from the closed test activities of the game that Wreck League is remarkable in terms of screen performance, skill settings, attack sound effects, and operating feel, surpassing the game performance of most current blockchain games.

Strong brand cooperation: Wreck League's partners are one of its most powerful advantages. In addition to its well-known and professional development team in the industry, the distribution team Animoca Brands, and the authorized content provider Yuga Labs, etc., the project party plans the second season and The third season introduces more brand cooperation. This combination of punches is rarely matched by chain games in the circle. These partners have rich experience, resources and influence, and can provide strong support for Wreck League. and security. It can also use these partners to expand its own market and users, such as promotion, linkage, co-construction, etc., thereby increasing the popularity and attractiveness of the game.

Flexible game modes: Wreck League is available in Web3 and Web2 versions, supporting cross-platform functionality between mobile and PC platforms. This design allows players to choose the appropriate game mode according to their own devices and preferences, and it can also expand the game's user base and market share. The Web3 version allows players to enjoy digital asset ownership, transactions and rewards brought by blockchain technology, while the Web2 version allows players to experience the basic functions and fun of the game for free. This design not only solves the threshold pain points in chain games 1.0, but also increases the income channel of the game. When the Web2 players in the game know that there are another group of people who can make money through this game, it stimulates their enthusiasm for Web3. Interest and curiosity will bring more players into the world of Web3.

Innovative game concept: Wreck League allows players to freely combine mechs with 10 NFT parts, instead of a fixed single roster. In this way, there are more than 1.5 trillion possible mechas in the arena in the first season, which greatly enhances the composability, playability and imagination of the game, far exceeding similar competing products.

To sum up, according to the currently available information, it can be said that Wreck League has demonstrated excellent comprehensive strength in terms of game playability and quality, team production and development strength, distribution and social resources, and brand cooperation capabilities, making it a A project that has attracted much attention in the current blockchain game circle. Wreck League has the foundation to stand out in the blockchain game circle, and it deserves our attention for its subsequent development and achievements. Of course, this is only a preliminary assessment based on currently available information, and the final result still depends on the team's efforts, market response and other external factors.

1.2. Valuation

At present, Wreck League has not announced the details of its token issuance, nor has it conducted financing, so it is impossible to give an accurate valuation result.

2. Project Overview

2.1. Basic project information

Wreck League is a blockchain-based mech fighting game that allows players to assemble their own mechs using NFT parts and compete in real-time PvP battles. The game has high-quality graphics, smooth actions, rich skills and diverse gameplay, which can meet the high standards and high requirements of players for fighting games. The first season cooperated with Yuga Labs to incorporate its NFT series such as Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club and Kodas into the game's storyline. At the same time, a free version of Web2 that does not require NFT will be launched, allowing the Web3 community and Web2 players to play games together, while adding the function of in-game purchases, allowing NFT holders and traditional players to form a mutually beneficial relationship.

2.2. Team situation

2.2.1. Overall situation

Wreck League is a project jointly developed by nWay and Animoca Brands, in which nWay is responsible for the development and operation of the game, and Animoca Brands is responsible for the investment and promotion of the game. nWay is a game company under Animoca Brands. nWay was founded in 2011 and is headquartered in San Francisco, California, with Taehoon Kim as the CEO. According to the official website, nWay has nearly 100 employees, with offices in San Francisco and South Korea, of which San Francisco has 47 employees and South Korea. There are 39 employees. In December 2019, Animoca Brands acquired all of nWay's equity for $7.69 million in cash and stock, and retained its original management team. After being acquired by Animoca, which focuses on blockchain, NFT and Metaverse, nWay transformed into a chain game studio.

2.2.2. Introduction to nWay

nWay is a San Francisco-based developer, publisher and technology platform focused on Web3 games on mobile, PC and consoles. nWay's Web3 game platform nWayPlay enables rapid development and operation of Web3 games, and has simple entry and exit functions. The company has a proven track record of developing AAA mobile and console games such as Power Rangers: Battle for the Grid, Power Rangers: Legacy Wars and ChronoBlade. nWay is made up of leading developers and senior executives from Sony, LucasArts, EA, Ubisoft, Capcom, Bandai Namco, Xbox, Warner Bros., Konami, Kabam, Pocket Gems, Zynga, Glu, Jam City and Machine Zone. The team has co-authored more than a dozen hits, including Marvel Contest of Champions, the Injustice series, Star Wars: The Force Unleashed, Wargames and Harry Potter: Hogger The Watts Mystery.

2.2.3. nWayPlay

The nWayPlay platform is a game platform developed by nWay, which allows developers to quickly create and operate competitive multiplayer cross-platform games, and also allows players to earn rewards through NFT. The platform has advanced real-time multiplayer technology, supports cross-platform accounts and progress, provides globally distributed dedicated servers, and user-customized real-time operation services. At the same time, it also provides world-class customer service tools to ensure the stability and reliability of the platform.

After being acquired by Animoca, the nWayPlay platform also began to transition to Web3, launched the NFT market, cooperated with the International Olympic Committee (IOC) successively, won the NFT authorization of the Tokyo Olympics and the Beijing Olympics, and sold Olympic badges and mascots. NFT blind boxes, users can buy and trade on the nWayPlay marketplace, or earn for free by playing Olympic-themed competitive video games connected to the nWayPlay platform. At the same time, the platform also launched the Alpha partner program, looking for developers who are still in the early stages of development and believe that the nWayPlay platform can improve their game experience, and establish a close cooperative relationship with them.

2.2.4. nWay Core Members

Taehoon Kim is the co-founder and CEO of nWay, responsible for the company's overall strategy and operations. Taehoon Kim worked as a senior software engineer at EA and participated in the development of The Sims Online, The Sims 2 and other games. Taehoon Kim holds a BS in Computer Science from Seoul National University in Korea and a MS in Computer Science from Stanford University in the US.

Steve Kuroki is nWay's Chief Creative Officer, responsible for the company's product design and development. Steve Kuroki worked as a senior producer at Sony and participated in the production of game series such as God of War and SOCOM. Steve Kuroki holds a BA in Film Production from the University of Southern California.

Daniel Engelhardt is nWay's Chief Commercial Officer, responsible for the company's business development and partnerships. Daniel Engelhardt served as vice president of interactive entertainment and games at Lionsgate, responsible for the authorization and operation of brands such as Power Rangers in the field of games. Holds a degree in International Relations from UCLA.

2.2.5. nWay game introduction

nWay developed and published three games before being acquired.

■ Power Rangers: Battle for the Grid：

This is a fighting game based on the TV series "Super Sentai", which supports online battles with up to three players, and has a variety of roles, modes and scenes. Released on various platforms in March 2019, the game has been well received by players and the media, and is considered a wonderful game that faithfully restores Super Sentai. It is the first fighting game to feature cross-play across all four console platforms and PC. Players on PlayStation 4, Nintendo Switch, Xbox One, Stadia, and PC can compete in the same pool, and matching is made easy.

■ Power Rangers: Legacy Wars：

This is a card battle game based on the movie "Super Power Rangers". It supports online battles of up to two people and has a variety of roles, skills and strategies. Released on mobile platforms in March 2017, the game has received over 70 million downloads and is considered an innovative and fun game.

■ Battlepalooza：

This is a battle royale game based on a real-world map, which supports up to 24 players online confrontation, with a variety of weapons, props and skills. Released on mobile platforms in December 2020, the game has garnered player and media attention as a unique and challenging game.

2.3. Financing

Wreck League has not yet disclosed its financing situation, but we can speculate with reference to the financing situation of its parent company Animoca Brands and nWay. According to Crunchbase data, Animoca Brands has raised a total of 9 rounds of financing since 2011, totaling $263 million. The most recent round was a Series B round in May 2021, with an amount of $88.88 million and a valuation of $1 billion. USD, becoming a unicorn in the blockchain game industry. nWay has raised 4 rounds of funding since 2011 totaling $11.1 million, the most recent being a Series A in December 2016 for $5 million. In December 2019, Animoca Brands acquired a stake in nWay and became its holding company.

2.4. Past development and roadmap

2.4.1. Past Development

Time event

2.4.2. Current progress

Wreck League is currently in the early stages of the first season, and the main work includes the following aspects:

■ Improve the technology and functions of the game, fix possible loopholes and errors, and improve the stability and security of the game.

■ Continue to maintain close communication and collaboration with Yuga Labs and other partners to ensure the quality and compatibility of mech parts, as well as the consistency of brand image.

■ Strengthen the management and operation of the community, increase user participation and loyalty, solve user problems and feedback, and improve user satisfaction and reputation.

■ Advance sales plan for Mint #1, complete KYC snapshot and box rarity reveal, ready for unboxing and first game access opening.

2.4.2. Development plan and roadmap

Wreck League has a grand vision and ambition, and plans to continuously launch new content and features in the future to provide players with more fun and value. Here are some development plans and roadmaps for Wreck League:

■ August 2023: KYC snapshot: This is an important step in determining eligibility for casting of mecha parts for the first season. Only players who registered on the whitelist before the KYC snapshot can participate in the minting activity.

■ August 2023: MINT 1: This is the first opportunity to purchase a box containing parts for building and casting mechs in the Garage. These boxes will contain mech parts from the Koda line, as well as other brands of mech parts.

■August 2023: Koda Claim: This is an opportunity for Koda series holders to get the Founder Mecha for free. Every Koda Series holder can claim a free Founder's Box containing a full Founder's mech for every Koda NFT they own.

■ August 2023: Blind Box Rarity Revealed: This is when players know what rarity parts are included in a purchased or traded Blind Box.

■ September 2023: Unboxing, First Game Access Open, Leaderboard Tournament Begins: Players open boxes, claim mech parts, assemble the mech, and start showing off skills and style in real-time PvP matches.

■ Q4 2023: Mint 2, High Stake, Mint 3, and Wreck League Champions: Players can participate in more minting events, win higher value rewards, cooperate with more brands, and compete with the strongest opponents when. The Wreck League Champions Cup is a high-end invitational tournament where only the best players compete for ultimate glory and rewards.

■ Early 2024: Web2 free version and NFT to IAP release system will be launched, while more high-quality Web3 and Web2 brand partners will be introduced, and the types and creativity of mechs and parts will be increased.

2.5. Social media data

As of August 18, 2023, Wreck League has a strong performance on social media platforms, showing that the project is very popular. Currently, the Wreck League's Twitter account [@WreckLeague] has attracted more than 25,000 followers, with more than 3,000 daily tweet interactions. At the same time, the Discord group also has frequent updates and interactions, attracting over 41,900 players and fans, becoming one of the most popular channels. Players and fans on these platforms have shown high interest and expectations for the game, and actively participated in the game's whitelist registration, community activities, and feedback collection.

The following is the specific data of each platform:

Twitter: The number of followers is 24,527, the number of daily tweet interactions is 3,100, and the daily growth rate is 5%;

Discord: 41,933 members, 3,641 daily online users, with a daily growth rate of 4%;

3. Project Analysis

3.1. Game story background

In the future world, human beings have fallen into chaos and crisis due to resource depletion and environmental pollution. In order to survive, some people chose to escape from the earth and look for new homes. Others chose to stay on the earth, using discarded mechanical and electronic parts to create a variety of mechs to protect themselves or conduct illegal underground competitions. Known as Wreck League, these events are an extreme mech combat sport that attracts countless spectators and gamblers. Participants not only face attacks from other mechas, but also deal with various obstacles and traps on the field. , the winner can get huge bonuses and reputation, while the loser may lose everything.

The game story background of Wreck League is closely related to Yuga Labs' NFT series. The Bored Ape Yacht Club is a club of bored apes with their own yachts and islands, living a life of luxury and carefree on Earth. The Mutant Ape Yacht Club is an organization composed of radioactively mutated ape-men who carry out secret and dangerous activities on Earth. Bored Ape Kennel Club is a group of pet dogs from Bored Ape Yacht Club, who enjoy a comfortable and happy life with their owners. The Otherside Kodas are a group of mysterious beings from a parallel universe endowed with extraordinary abilities and intelligence.

In Wreck League, these different characters and factions will collide and conflict with each other, resulting in countless stories and dramas.

3.2. Gameplay

Wreck League is a real-time PvP fighting game that supports mobile and PC cross-platform play, and provides both Web3 and Web2 versions.

■ The core gameplay of the game is to allow players to use their own mechs to fight, and to defeat opponents by controlling the movement, attack, defense, skills, etc. of the mechs.

■ One of the game's features is the customization and assembly of mechas, allowing players to choose different NFT parts to build mechas according to their preferences and strategies. Each mech is made up of 10 different NFT parts that determine the mech's appearance and performance. Some sections give the player basic attacks, while others give special abilities, improved energy meters, better block durations, and more. These together determine the game style of the mech. This means that players can design the available combinations of their mechs by selecting parts that contain actions that go together, but it also means that the way players design their mechs is just as important as their skill in the game.

■ The game also provides a variety of competition and tournament modes, allowing players to participate in challenges of different types and difficulties, and to obtain rewards of different values and rarities. Tournaments and tournaments can be organized and managed by officials or community members, and some tournaments may require a specific number or type of mechs to participate. Rewards for competitions and tournaments can include tokens, NFTs, cash or other items. The game will also feature a special race mode called "High Stake," which will allow players to bet on their own or an opponent's mechs or parts and gain or lose them based on the outcome of the race.

3.3. Game Core

3.3.1. Mech Basics

Each mech consists of 10 NFT parts: 5 body parts and 5 attachments.

Each body part and attachment is visually differentiated by constructor and rarity. Season 1 features 5 Builders, 5 Rare Items, and 8 Yuga Mechs that players can mix and match for unreal customization.

These parts determine the mech's visual appearance, combat capabilities, and playstyle. A top player pays close attention to how the various parts work together (or not), because the right combination can give his mech a competitive advantage over his opponents.

① Body Parts

Body parts determine the skills the mech uses in combat, including the head, torso, weapon class, legs, and S-Bot. Each section is associated with a different type of skill, providing the mech with a balanced arsenal of offense, defense, and utility.

② Weapon Type

The weapon class has the greatest influence on the game style, and there are 5 different weapon types: Drillfist (drill), Gigablade (gigablade), Sawlance (saw spear), Spikeball (spike ball) and Starshot (shooting star).

③ Attachments

Attachments customize the appearance of body parts and enhance the mech's performance stats in battle, including crowns, emblems, shoulder pads, knee pads, and antennae.

■ Each attachment has an assigned performance stat such as energy regeneration, max energy, block regeneration, critical chance and super buffs.

■ Crest: Energy Regeneration — Promotes the energy regeneration of mechs

■ Emblem: Maximum Energy - Measures mech energy

■ Shoulder Armor: Block Regeneration — Increased mechanical block meter regeneration after depletion

■ Kneepads: Critical Strike Chance - measures to increase the frequency of your damaging and non-damaging abilities

■ Antenna: Super Gain - Tracks how fast the Super Meter recharges when dealing and taking damage

■ Each attachment also has two core stats randomly assigned to it based on the part's constructor attributes, including Health, Offense, Armor, Block Proficiency, Super Strength, and Critical Strike Power. These stats determine the mech's basic combat capabilities.

■ Health — shows the overall health level of the mech

■ Offense - Tracks the level of damage the mech deals with basic attacks

■ Armor - measures the damage done by an enemy mech's unblocked basic attack

■ Block Proficiency——Measures the damage caused by the opponent's mech being blocked by a basic attack

■ Super Powers - Shows the damage done by your mech's special and ultimate abilities

■ Critical Strike Power — Measures the effect of increasing the mech's critical strike

Each part belongs to a mech set, which is a group of similarly themed parts determined by a combination of constructor, weapon set, and rarity stats. Mech suits affect the skills and stats associated with the part. Season 1 has 80 Yuga class mech parts, which will be the rarest parts, and they are even rarer than legendary.

④ Constructor

Constructors refer to the manufacturer or brand of the part, which determine the theme and style of the part.

In the first season, there are nine kinds of constructors, namely:

■ Prime-8: A human organization from Earth, inspired by apes, to create a powerful and flexible mech. Their parts feature yellow and black stripes and simian faces for a variety of combat scenarios.

■ Psycrane: A mysterious organization from the East, symbolized by cranes, creates elegant and deadly mechs. Their parts have white and red coloring and crane feathers for ranged attack and speed.

■ Ironscale: An aristocratic organization from Europe that worships dragons and creates gorgeous and powerful mechs. Their parts feature gold and green hues and dragon scales for melee attack and defense.

■ Infestech: A rebel organization from the Americas, represented by demons, creates evil and cunning mechs. Their parts feature black and red coloring and demonic horns, tail and wings for critical damage and special effects.

■ Available in brown and gray tints and vulture feathers, beaks and claws, suitable for restoration and recycling.

■ Koda: An advanced culture from a space colony with technology beyond time and space. They are one of the Yuga Labs partners, offering the rarest and most powerful mech parts. Features four special effects and has the appearance of a character or creature from the Yuga series (Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, or Otherside Kodas).

■ MAYC: The ancient civilization from Antarctica mastered the power of ice and fire. They are one of the Yuga Labs partners, offering the rarest and most powerful mech parts. Features four special effects and has the appearance of a character or creature from the Yuga series (Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, or Otherside Kodas).

■ BAKC: A wild organization from Australia, symbolized by kangaroos, to create agile and strong mechs. They are one of the Yuga Labs partners, offering the rarest and most powerful mech parts. Features four special effects and has the appearance of a character or creature from the Yuga series (Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, or Otherside Kodas).

■ BAYC: A peace organization from North America, with the bear as a symbol, creates a gentle and strong mecha. They are one of the Yuga Labs partners, offering the rarest and most powerful mech parts. Features four special effects and has the appearance of a character or creature from the Yuga series (Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, or Otherside Kodas).

⑤ Rarity

Rarity refers to the rarity and value of parts, which determine the attribute values and special effects of parts.

In the first season, there are nine rarities, namely:

■ Common: The most common widget without any special effects, but still provides basic performance statistics.

■ Rare: A relatively rare component with a special effect that can enhance a certain aspect of the mech in combat.

■ Epic: A very rare part with two special effects that give more advantages in battle.

■ Legendary: An extremely rare part with three special effects that allow the mech to have a unique fighting style.

■ Yuga: The rarest and most powerful part, only obtainable through cooperation with Yuga Labs. They have four special effects and have the appearance of a character or creature from the Yuga series (Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, or Otherside Kodas).

■ BAKC: Parts that can only be obtained through cooperation with the Bored Ape Kennel Club, they have four special effects, and have the appearance of a dog in the Bored Ape Kennel Club.

■ MAYC: Parts that can only be obtained through cooperation with the Mutant Ape Yacht Club, they have four special effects, and have the appearance of one of the mutant apes in the Mutant Ape Yacht Club.

■ BAYC: Parts only available through cooperation with Bored Ape Yacht Club, they have four special effects, and have the appearance of a boring ape from Bored Ape Yacht Club.

■ Otherside Kodas: Parts that can only be obtained through cooperation with Otherside Kodas, they have four special effects, and have the appearance of a mysterious creature in Otherside Kodas.

3.3.2. Define play style

Each Constructor has a specific playstyle, largely determined by its skill and stat distribution. By mixing and matching parts from different builders, players can craft a mech uniquely suited to their individual playstyle.

simple example

Assuming the player wants to build a mech that sacrifices survivability for high burst damage output and combat range versatility, it can be combined as follows:

The mecha's Sawgun weapon arm + torso combination provides 3 different ranges of attack, as well as a way to slow down the opponent's skill output. Combine this with the Prime-8 S-Bot's long-range attack and Koda's leg's versatile twist kick, and you'll be able to hit opponents anywhere in the arena. Since in this hypothetical situation the opponent retaliates with an attack of his own, the mech needs to be equipped with a Prime-8 head so that it can be healed with system recovery in case it gets hit.

As far as core stats go, this is an example of an offense-oriented mech, so it might be wise to focus on offense and crit power. It's also probably a good idea to prioritize health over armor and block proficiency, since the strategy is to attack first, but have enough health to heal with system regeneration before taking meaningful damage.

The above is an example of a possible mech assembly provided. Of course, players can also choose different combinations of parts according to their preferences and creativity to create their own mechs. There are 133 mech sets in the first season of Wreck League, so players can create an almost infinite variety of custom mech combinations.

3.3.3. Armor Assembly

Players can assemble and disassemble mechs in the Garage section of the Wreck League website. To assemble the mech, the player needs all 10 parts (body and attachments). The minting process locks 10 NFT parts of the player and grants the player a new mech NFT composed of those parts. Once the transaction is complete, the player will be redirected to the garage to view the newly minted mech. Players can choose different combinations of parts according to their own preferences and strategies to create a mecha that suits their own play style and combat ability.

! [Wreck League Investment Research Report: Boring Ape and Animoca join forces to create a 3A-level PVP fighting chain game] (https://img-cdn.gateio.im/resized-social/moments-69a80767fe-093521ca2b-dd1a6f-1c6801)

3.3.4. Armor Disassembly

Players can also disassemble the mech to unlock 10 NFT parts. Doing so will destroy the Mech NFT. In the "My Mechs" section of the Garage, select the mech you want to disassemble. Once selected, you will be prompted to pay the gas fee. Once the trade is complete, return to the "My Parts" section of the Garage to view unlocked/recycled parts. Disassembling a mech can allow players to repurpose or swap out parts they don't need or want, or provide them with more flexibility and creativity in building new mechs.

3.4. Cooperation with YUGA Labs

The cooperation between Wreck League and Yuga Labs in the first season is mainly reflected in the following aspects:

1. Wreck League as part of the Boring Ape/Otherside expansion Yugaverse, in partnership with Yuga Labs. The storyline has been carefully crafted to integrate Yuga's characters into the Wreck League universe, including some major characters from The Bored Ape, Kennel Club, and Otherside.

2. Players are given a free Founder Mech that contains a fully constructed mech that cannot be dismantled. The Founder Mech is customized based on one of the four Yuga series held by the player (Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Kodas).

3. A Mech Maker system is provided for players, allowing players to freely assemble and customize their own Mechs. Wreck League designed 20 unique Mech Parts for each Yuga series, so a total of 80 parts can be mixed and matched to create an almost endless variety of Yuga Mechs. Players can also mix and match Yuga mech parts with Wreck League mech parts to create original creations in the Wreck League Garage.

4. A Mech Arena is provided for players, allowing players to use their mechs to participate in various competitions and challenges. Players can use Yuga mechs and mech parts to enhance gameplay and add unique elements to their mech collection.

3.5. Casting activities in the first season

To give players a chance to earn mech parts, the game also plans to host three minting events in Season 1, giving players the chance to purchase and earn Genesis Coin Boxes and Founders Boxes. These boxes are a special type of NFT that contain random mech parts that players can use to create their own mech.

These boxes come in different rarity tiers, from Common to Legendary or Yoga, which determine the rarity range of their contents. Together, these boxes add surprise and opportunity to the collecting experience: buying one or more boxes guarantees access to a certain number of parts to craft a mech, but not necessarily the parts needed to assemble it.

Yuga mech parts will also be distributed through three MINTs, starting with the Koda mech in Mint 1, the Kennel Club and Mutant Ape mech in Mint 2, and finally the Bored Ape mech in Mint 3.

1) MINT 1, aka Genesis Mint

The first minting event (Mint 1) will be held from 9:00 am on August 17th to 9:00 am on August 18th, and only players who have passed KYC verification and joined the whitelist can participate. During this casting event, players can purchase two types of boxes: Majestic and Booster.

The Majestic box contains 10 random parts that can be used to assemble a complete mech. Booster boxes contain 5 random parts that can be used to enhance existing mechs or to build new ones. Majestic has 25,000 boxes and sells for 150 APE$, and Booster has 5,000 boxes and sells for 50 APE$. Players can only use Ape to buy boxes, and some ETH is required to pay for GAS.

During this minting event, holders of Koda NFTs will be able to increase their odds of obtaining rare mechs. If they choose to whitelist and participate in minting by purchasing one or more boxes, they will automatically have access to higher rarity boxes. Additionally, holders of the Koda NFT will also be able to claim a free Founder’s Box starting August 31st (the rarity of the box won’t be revealed until a week after minting), which is guaranteed to contain the Founder’s Mech.

During this minting event, holders of Koda NFTs will be able to increase their odds of obtaining rare mechs. If they choose to whitelist and participate in minting by purchasing one or more boxes, they will automatically have access to higher rarity boxes. Additionally, holders of the Koda NFT will also be able to claim a free Founder’s Box starting August 31st (the rarity of the box won’t be revealed until a week after minting), which is guaranteed to contain the Founder’s Mech.

rarity

A. Box rarity range

The rarities in the Shipwreck Alliance box range from Common to Uncommon, Rare, Epic, Legendary, and Ugga tiers. The image below lists the available boxes by rarity tier.

B. Rare Parts Series

The rarity of a box determines the rarity range of its contents. In other words, the rarity range of these parts corresponds to the rarity of the opened box.

For example, if a player opens a Legendary Majestic Box, they can get 5 Legendary parts, 3 Epic parts, and 2 Rare parts. The only exceptions are the generic boxes for Majestic and Booster boxes, which contain all parts of common rarities. The table below illustrates the rarity composition of the parts for each box's rarity type.

Rollout timeline (all dates in 2023)

The blind boxes purchased by players will be revealed in the following order: MINT—announced rarity—box opening—MINT parts

Build mech

Once the parts are claimed and they appear in the wallet, the mech can be assembled in the garage and then battled with other players. The more mech parts you have, the more you can customize and create more powerful mechs that match the player's fighting style.

Participate in the competition

Once you've built your mech, get ready to compete in tournaments and dominate the leaderboards as one of the league's greatest Wrecks. Having more mechs not only diversifies the content players can bring into battle, but also gives them more access to exclusive in-game events and arenas, as well as advantages related to future minting and claiming.

2) Like 2

The second minting event (Mint 2) will be held in the third quarter of 2023, holders of Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC) NFT, during this minting event, will enjoy boosting rarity degree benefits and a free Founder's Box. Other activities are similar to MINT1.

3) MINT3

The third minting event (Mint 3) will be held in the fourth quarter of 2023, holders of Bored Ape Yacht Club (BAYC) NFT, during this minting event, will enjoy the advantages of increasing rarity and free Founder's Box . Other activities are similar to MINT1.

About Founder Box

The Founder's Box and Founder's Mech are a special NFT that only holders of Yuga Labs' NFT series (Koda, MAYC, BAKC, and BAYC) can claim for free. Holders of each series can receive the same number of Founder's Boxes according to the number of NFTs they own after the corresponding casting activity ends. Founder's Boxes come in 6 rarities (same as Mechs).

Each Founder's Box contains a Founder's Mech of the same rarity as the box. Each Founder Mech is composed of 10 different types of parts, but cannot be disassembled back into parts. The rarity of each part is determined by the rarity of the mech. For example, a Legendary Founder mech consists of 2 Rare parts, 3 Epic parts, and 5 Legendary parts. Each rarity level is also divided into two types: random sets and curated sets. A random set is a random patchwork of parts from different series and styles, while a curated set is a complete and coordinated set of parts designed by the developer.

Locking and unlocking of Founder Boxes and Founder Mechs: When players claim Founder Boxes, they will be locked and restricted from trading until the specified date when they are automatically opened and converted into Founder Mechs. When players acquire Founder Mechs, they are also locked and restricted from trading until the player wins at least three battles in the game using them. The purpose of locking and unlocking is to protect the interests of players and prevent them from selling or trading high-value NFTs without their knowledge.

3.6. NFT to IAP release system

The NFT to IAP publishing system is a key innovative system (patent pending) that bridges the gap between the Web3 and Web2 communities, bringing the two groups together for a holistic experience. The system will launch alongside Wreck League's Web2 free version in early 2024.

1) Web3 Version: War of Mech Owners

Exclusively for Mech NFT owners, the Web3 version of Wreck League offers an opportunity to battle players' own creations. Competing against players' uniquely owned creations in a live, face-to-face environment has a powerful drive that enhances the competitive gaming experience and makes it more rewarding.

2) FREE VERSION: Gamers and creators unite

The F2P version of Wreck League is designed for wider replayability and fun. This version of the game can be downloaded and played by anyone without Mech NFT ownership and follows the free-to-play model common in mobile and PC games.

In this version, players can buy mechs created by other players. These mechs are not NFTs, but IAP (in-app purchase) options. When a player purchases a mech, a portion of the revenue is shared with the NFT creator/owner, facilitating a community-driven economy.

The purpose of this system is to realize the interaction and integration of Web3 and Web2, so that more players can enjoy the game content and experience of Wreck League. Through this system, Web3 players can give more value and meaning to their NFT parts, while also gaining additional sources of income. Web2 players can get more in-game components by purchasing IAP items, and they can also get in touch with the Web3 world.

The flow of the system is as follows:

■ Web3 players can select the NFT parts they want to publish on the official publisher of Wreck League, and set the description and price of the IAP item. The publisher will generate an IAP project ID and QR code based on the brand, type, grade and other conditions of the NFT parts provided by the player.

■ Web3 players can share the ID and QR code of the IAP project with other players, or promote it on social media. Web2 players can enter the purchase page of the IAP item by scanning the QR code or entering the ID.

■ Web2 players can view the details and evaluation of IAP items on the purchase page of IAP items, and complete the purchase with legal currency. After purchase, Web2 players will receive the corresponding in-game parts in-game and can use them to assemble their own mechs.

■ Web3 players will receive a certain percentage of IAP revenue each time someone purchases an IAP item they publish. IAP revenue will be issued to Web3 players' wallets in the form of WRECK tokens.

4. Industry space and potential

4.1. Track conditions

4.1.1. Item Classification

Wreck League is an ACTION game, which belongs to the chain game track.

4.1.2. Market Size

According to the data from Footprint.network, the chain game track has shown some interesting phenomena and trends recently. From the four aspects of daily active players on the chain, game transaction volume on the chain, ranking of game players, and investment in the chain game track, a brief analysis and summary of the chain game track is made.

First of all, from the perspective of daily active players on the chain, the current daily active players on the chain are around 843,019, and the GameFi transaction volume on the chain has reached more than 4.6 million US dollars. Among them, Ethereum and BSC have the largest number of chain game players, accounting for more than 25%. As shown below:

Although Ethereum and BSC currently have the largest number of online game players, the daily activity of players on the WAX and Hive chains is the best. The daily player activity of these two chains has remained above 200K for a long time, which is higher than that of other public chain games daily activity. This shows that chain games on the WAX and Hive chains have high user stickiness and retention rates, which may be related to their game types and gameplay.

Secondly, from the perspective of game transaction volume on the chain, Axie transactions on the Ronin chain currently account for the highest proportion, reaching $125,191. It is followed by Merit Circle with a daily trading volume of $795,320. The details are as follows:

Again, from the perspective of game player rankings, the top ten GameFi projects currently ranked by game players are as follows:

It can be seen that Alien Worlds and Farmers World have more than 120k players, which is much higher than the third-ranked SuperWalk (the number of players is around 40k). Both games are NFT-based virtual world games, allowing players to explore, mine, trade, etc. on different planets. This type of game has a strong sense of immersion and freedom, and can satisfy players' imagination and creation of the virtual world.

Finally, from the perspective of the investment situation of the chain game track, the investment quantity and rounds of the entire chain game track are as follows:

It can be seen that after the Mavericks in January this year, the number of investments in the blockchain game track is also gradually decreasing, and the financing rounds are in the early seed rounds or strategic rounds. This may reflect that the market’s enthusiasm for the chain game track has cooled down, or it may be because there are fewer high-quality projects or have not yet been made public. But it is worth noting that during the entire period from September 2021 to June 2022, the chain game track has received a large amount of financing. These projects may be launched in succession between 2024 and 2025, which may trigger a new wave of chain games. The whole track is still worth looking forward to.

At present, the activity of the entire chain game market is still not high. According to the "Global Blockchain Game Industry Report for the Second Quarter of 2023", the three older generation chain games Alien Worlds, Farmers World and Splinterlands still occupy 50% of the market share on the chain, and their positions have been stable for more than a year. The blockchain games launched during the same period and later did not constitute effective competition for them. Therefore, during the development process, new chain game projects not only need to adapt to new market trends and new needs of users, but also need to learn from these three successful cases. Innovate and optimize.

4.1.3. Chain game core

In 2021, the success of Axie Infinity triggered a wave of Play to Earn. In the second half of 2021, many chain game projects have sprung up like mushrooms, forming a sharp contrast with traditional games.

However, Play to Earn's economic system is not perfect. Most chain game projects have obvious characteristics of the Ponzi model, including Axie Infinity. The Ponzi model is a financial structure that transfers value provided by later participants to earlier participants. This also means that the continuity of the GameFi project requires constant new users to participate in the project. However, some development teams did not focus on designing the rationality of the Token economic model, they even just wanted to quickly attract funds from the market and then Rug. This led to the demise of some GameFi projects very quickly.

According to the "Global Blockchain Game Industry Report for the First Quarter of 2023", the average life cycle of a GameFi project does not exceed three months. A common GameFi project develops in the following way: In the early stage of development, speculators enter the project -> Token speculative sentiment is high, and the price rises -> Speculators sell Token -> Token price falls -> Fear causes actual users to sell Token -> Token The price falls further -> the price falls below the critical point where the user's rate of return is lower than the cost rate -> due to the small economic return, users continue to leave -> Game Over.

If we analyze these projects, we can find that besides the economic model problems, the current blockchain game also has the following pain points and Wreck League proposes its own solutions:

1) Threshold Pain Points

At present, the entry method of most chain games is that users first need to purchase tokens or NFT to participate in chain games. Secondly, the user needs to register the wallet and recharge to purchase the corresponding token or NFT. Then, the user needs to transfer the token or NFT to the wallet after purchasing on the exchange or market, and check it. Finally, users need to keep a certain amount of tokens in the wallet to support the consumption of gas fees. This entry method increases the user's operation cost and time cost, reduces the enthusiasm of new users, and a large number of Web2 players are turned away.

Solutions for Wreck League:

The entry method of Wreck League is different from most chain games. It provides two versions, namely Web3 version and Web2 version. By providing two versions, Wreck League not only meets the needs and habits of crypto users, but also reduces the entry barrier and operation difficulty of traditional players. At the same time, through the NFT to IAP system, the NFT of web3 players is empowered. When Web2 players find that there are another group of players who make money through this game, they can slowly guide them into the world of Web3.

2) Pain points in gameplay

First of all, the playability of most chain games is seriously insufficient compared with traditional games. They often lack elements that attract users such as exquisite graphics, rich gameplay, and interesting stories. 70% of chain game users are not interested in the game itself. Only here for speculation.

Secondly, most Web2 players are easily dissatisfied with the new gameplay of Web3, which is highly closely combined with native Tokens, and even have a strong resistance. They need to adapt to complex entry methods, high transaction fees, fluctuating yields and other factors. According to the "Global Game User Survey Report for the First Quarter of 2023", 80% of Web2 players said they were not interested in or didn't understand Web3 games.

Finally, most Web3 games have adopted a perpetual ownership model, that is, users have full ownership of in-game assets. Although such a model protects the interests of users, it also brings some risks. For example, it can easily lead to giant whale users hoarding and manipulating in-game assets, thereby affecting the fairness and balance of the game. At the same time, there is a lack of deflation mechanism to regulate the in-game economy, which affects the sustainability and stability of the game.

Solutions for Wreck League:

The development team of Wreck League, nWay, has been focusing on fighting games for 12 years. There are more than 100 game teams. They have quite a lot of experience in this kind of game development. I believe they have better control over the playability of games than most of the teams in WEB3. .

Meanwhile, Wreck League falls into the Action category, one of the favorite genres for Web3 players. According to the "Global Blockchain Game User Behavior Analysis Report for the First Quarter of 2023", Web3 players have a very obvious preference for game types, and they like fast-paced and operation-heavy games. Action (action game), Strategy (strategy game), RPG (role-playing game), and Shooter (shooting game) are the most popular game types, and players generally spend 10 to 15% of the total game time on such games.

3) Pain points in development, design and operation

At present, most of the chain games on the market adopt the chain reform method to enter the field of chain games, which makes the chain games not suitable for crypto users. However, overall, the team’s CP research and development capabilities have improved, and the proportion of self-developed games has increased. However, for the game mechanism There are fewer innovative designs. Secondly, the traditional team lacks bottom-up community mobilization capabilities: the use of social media accounts such as Discord/Twitter, the image of the founding team and the exposure of the community, whether the game mechanism design can meet the needs of crypto users and take into account their usage habits ; Finally, the crypto native team lacks experience in game numerical design and game economic model adjustment, and is not proficient in various means to maintain the stability of the game economic system.

Solutions for Wreck League:

Wreck League is a game that the nWay team spent more than two years building to adapt to native Web3 users. The game's research and development capabilities and innovative mechanism capabilities are beyond doubt. Although nWay used to be a traditional game team, after being acquired by Animoca Brands, it has successfully transformed into a Web3 game team. As a leader in the chain game field, Animoca Brands, with its strong resource capabilities in the chain game field, will be able to provide powerful technology and Operational support, which can be seen from the cooperation with Yuga Labs in the first season of Wreck League, which can not only avoid the disadvantages of pure crypto native teams, but also avoid the community mobilization ability that traditional teams lack.

4.1.4. Competition Items

Wreck League is an ACTION-type chain game. There are many games in this category on the market. We continue to subdivide it into fighting and e-sports games. Strictly speaking, Wreck League has no direct competitors. We choose several well-performing fighting chain games on the market as competitors.

1) Cyber Arena

Cyber Arena is the first real-time Metaverse Web3 multiplayer P2E fighting game built on Dogechain. The game is compatible with all popular web wallets, bridges with top blockchains, and has already been adopted by major institutions and global brands.

2) Crypto Legions

Crypto Legions is an NFT game based on the BSC chain. It is set in the world of the 31st century, allowing players to collect and cultivate different warriors and beasts, and then fight with other players or monsters to win rewards and honors. The game uses an innovative Omni-Balanced Oracle system to ensure the fairness and sustainability of the game.

3) DexiKnights

DexiKnights is a blockchain-based NFT game, which is the first game product of Dexioprotocol and will be released in October 2021. The game is an arcade-style sword fighting game that allows players to compete fiercely with other players or environments in different scenarios, using upgradable NFTs (non-fungible tokens) as weapons and equipment.

4) Fight Legends

Fight Legends is a blockchain-based 2.5D fighting game that utilizes cryptocurrencies and NFTs to create a truly unique fighting game experience. Players can collect in-game assets while fighting against other players for fame and glory.

5) Competitive product comparison

In the horizontal comparison of multiple key dimensions such as community participation, financing status, team qualifications, game visual effects, and online status, Wreck League has shown significant advantages. In addition, Wreck League also has additional advantages such as social resources, which further enhances its market competitiveness. Therefore, from a comprehensive analysis point of view, Wreck League has a clear advantage in the corresponding field.

Attachment: @TierMaker made a Web3 game classification table, from S level to C level. Wreck League ranks in the second level category, and the outside world has high expectations and evaluations for it.

4.2. Analysis of Token Economic Model

Wreck League officials have not yet announced the economic model.

4.2.1. Token Utility

Wreck League has not yet issued a pass, but from the analysis of the entire game, if the pass is issued, it may have the following functions:

■ Casting Parts: Players can use tokens to cast parts in the game, and the casting cost of each part depends on its scarcity and brand cooperation. Casting parts are randomly generated, and players have a certain probability of obtaining rare or limited parts.

■ Purchasing components: Players can use tokens to purchase components sold by other players in the game or on platforms such as OpenSea. The price of each component is set by the seller and is affected by market supply and demand.

■ Sell parts: Players can use tokens to sell parts they don't need in the game or on platforms such as OpenSea. The price of each part is set by the seller and is affected by market supply and demand.

■ Participate in community activities and competitions: Players can use tokens to participate in community activities and competitions, such as voting, guessing, auctions, etc., to win more tokens and component rewards.

■ Governance rights: Token holders can participate in the governance of Wreck League and vote on important decisions of the game, such as adding or modifying game rules, increasing or reducing game rewards, introducing or canceling brand cooperation, etc.

4.2.2. Token Value Evaluation

The evaluation of token value is mainly based on the following aspects:

■ Game user scale and activity: The game user scale and activity are important indicators to measure the success of a game project, and also an important factor affecting the value of the token. Generally speaking, the larger the scale and activity of game users, the higher the token value, and vice versa. According to our forecast, Wreck League is expected to attract and retain a large number of players in the next few months, especially players who like fighting games and NFT collections, as well as investors who are interested in Web3 games, thereby increasing the scale and activity of game users degree, thereby increasing the value of tokens.

■ Completeness of game content and functions: The completeness of game content and functions is an important factor affecting player experience and satisfaction, and is also an important factor affecting the value of tokens. Generally speaking, the more complete the game content and functions, the higher the value of the token, and vice versa. Wreck League has high-quality graphics, smooth movements, rich skills and diverse gameplay, which can meet the high standards and high requirements of players for fighting games. At the same time, Wreck League is also a project that is constantly improving and innovating. It plans to introduce more high-quality brand partners, and constantly improve the game content and functions, so as to improve the player experience and satisfaction, and then increase the value of tokens.

■ Influence of brand partners: The influence of brand partners is an important factor affecting the popularity and attractiveness of the game, and it is also an important factor affecting the value of the token. Generally speaking, the greater the influence of a brand partner, the higher the token value, and vice versa. The Wreck League has partnered with well-known brands such as Yuga Labs and offers special perks to holders of these brands. These brands have high popularity and influence, and have a large number of fans and supporters in the NFT market. Therefore, by cooperating with these brands, you can increase your popularity and attractiveness in the NFT market, thereby increasing the value of tokens.

5. Preliminary value assessment

5.1. Core Issues

**Which operating cycle is the project in? Is it a mature stage, or an early and middle stage of development? **

Wreck League is currently in the early stages of development, the game has not yet been officially launched, only the name, concept and gameplay of the game have been announced, and whitelist registration has been opened. The game still needs to go through more testing, optimization, and promotion to attract more users and capital, and achieve greater scale and influence.

**Does the project have a solid competitive advantage? Where does this competitive advantage come from? **

Wreck League has a certain competitive advantage, which mainly comes from its excellent team strength, innovative game concept, strong brand cooperation, flexible game mode and unique NFT to IAP release system, etc. These aspects make Wreck League different from other chain games, providing more diverse and high-quality game products and services, as well as more value and benefits to players.

**What are the main variables in the operation of the project? Is this factor easy to quantify and measure? **

Number of users and activity: The number of users and activity are important indicators to measure the success of the game, and they reflect the attraction and retention of the game to players. The number of users and activity can be quantified and measured by some data, such as the number of players on the chain, the number of daily active users, the number of monthly active users, retention rate, churn rate, etc.

Game Revenue and Spending: Game revenue and spending are important metrics for measuring the profitability and sustainability of a game, and they reflect the game's value capture and distribution to players. Game revenue and expenditure can be quantified and measured through some data, such as blind box sales, mecha sales, game platform downloads, advertising revenue, total expenditure, average expenditure, net profit, profit margin, etc.

Community participation and satisfaction: Community participation and satisfaction are important indicators to measure the effect of game community construction and governance, and they reflect the game's trust and loyalty to players. Community participation and satisfaction can be quantified and measured through some data, such as voter numbers, turnout rate, feedback quantity, feedback quality, ratings, reviews, etc.

**How will the project be managed and governed? **

Project management and governance methods have gradually shifted from official operations in the early stage to decentralized DAO governance.

6. Project risk

Judging from the official progress and roadmap, Wreck League is still in its early stages, which brings a lot of uncertainty.

Economic model risk: So far, Wreck League has not officially announced its tokens and game economic model. Due to the problems faced by chain games 1.0 in the death spiral model, Wreck League's solution strategy is not yet clear. If the Wreck League fails to come up with an innovative economic model, its future could face major challenges. This uncertainty factor substantially increases the risk of the project, therefore, the future development trajectory remains to be seen.

**Small category of game risk: **In the perception of most players, fighting games have always given people a niche game type with high threshold, high difficulty, and relatively more hardcore. Therefore, whether Wreck League will be welcomed by Web3 players or even free-to-play game players is still difficult to make a conclusion.

**Competitive pressure risk:**According to the track analysis data, the number of real players in the current chain game is relatively small, with about 800,000 daily active users, and the human-machine ratio has not yet been determined. In addition, there are 3 games that account for almost 50% of the activity on the chain, which further highlights the challenges facing the chain game industry. Under such circumstances, if Wreck League wants to catch the attention of players, break through the current situation, and even lead the development of the entire chain game industry, it is facing very big challenges.

**Monetization pressure risk: **Wreck League will start production in 2020, and when the chain game track is hot in 2021, there is no news of financing. It is not clear whether this is due to the official team's confidence in the project, or due to some difficulties in financing. Considering that the project has lasted for more than two years, the team may be under pressure to realize cash. In this case, it is uncertain whether the project will be launched in a hurry. There are many other aspects that we need to keep an eye on.

7. References

Wreck League project official website

Wreck League Project DOCS

Wreck League Official Twitter

Wreck League Official Medium

nWayplay official website