Project Introduction

"KartParty" is a dynamic and modular racing game set in a post-disaster virtual world. In the game, players, known as "YAKUZ," modify karts with various equipment like springs and shields to navigate through challenging and ever-changing tracks filled with obstacles. The gameplay focuses on skillful navigation, where players jump between obstacles, rush through gates, and experience elements like trampolines and turntables. The game emphasizes adaptability and strategy in a competitive environment with ridiculous and unpredictable track conditions. 

The KartParty team's background includes professionals with extensive experience in game development. They have participated in notable projects and have achieved significant results in their respective fields. 

Market Heat 

The Genesis series pass of the project, YKZ, launched in August 2023, quickly garnered substantial market attention. By the end of December 2023, the series had propelled the price of its freemint NFTs to over 3 ETH. KartParty enjoys a considerable following on social media platforms such as Twitter and Discord. However, the project team has not yet established a Telegram group. 

Industry Sector Analysis 

• GameFi Market Status 

The gaming industry, renowned for its profitability, has emerged as a leader in the adoption of cryptocurrency. Characterized by volatile price movements in the past cycle, this sector presents opportunities for high returns, albeit with corresponding risks. Despite previous criticisms regarding unsustainable play-to-earn models and subpar gameplay quality, the GameFi sector is on the cusp of a transformative phase. The current cycle exhibits notable advancements, paving the way for these games to vie for genuine adoption among gamers. 

According to Footprint's annual report[1] on Gamefi, The blockchain gaming market witnessed a drastic downturn in annual trading volume, plummeting by 83.8% from $20 billion in 2022 to $3.2 billion. In response, developers have been vigorously exploring strategies to attract a broader audience, including partnerships and learning from established traditional gaming giants to enhance game quality. 

Despite an increase in the number of games, from 2,070 to 2,780 in 2023, player engagement has significantly diminished. In 2023, only 6% of all games had over 1,000 active wallets on the blockchain, a decline from 10% in 2022. This indicates a challenge in attracting users to blockchain games and a perceived reduction in their quality compared to the previous year. 

In the fourth quarter of 2023, as Bitcoin began its recovery, the GameFi market capitalization showed a more restrained growth trend relative to BTC throughout the year, with a notable increase towards the year's end. 

• GameFi Market Projection 

For the estimation of GameFi’s market size for 2024, several key trends and predictions stand out in the GameFi sector. These trends, bolstered by statistical data, suggest a transformative period for this innovative industry.  

1.Tech Advancements

Artificial intelligence (AI) is predicted to play a larger role in GameFi. Approximately 50% of new GameFi projects in 2024 are expected to leverage AI for improved game mechanics and player interactions.  

Blockchain technology, the backbone of GameFi, is set to become more advanced. By 2024, 80% of GameFi platforms are expected to incorporate Layer 2 solutions for enhanced scalability and reduced transaction costs.  

2.Collaborations and Partnerships

Collaborations between traditional gaming companies and blockchain projects are predicted to increase by 40% in 2024. This synergy will likely result in more sophisticated and appealing GameFi projects. 

The integration of GameFi in the Metaverse is forecasted to deepen, with predictions indicating that 35% of all Metaverse platforms will have some form of GameFi element by the end of 2024. 

The GameFi sector is poised for significant recovery and transformation in 2024. With increasing mainstream adoption, technological advancements, strategic partnerships, and evolving economic models, the industry is set to redefine the gaming landscape.  

Team

Products

KartParty is a party game centered around racing, where vehicles are the core assets of the players. By integrating various components, cars gain unique attributes and skills, enabling a diverse gaming experience. The game's limitless modular design allows for multiple arrangements and combinations. 

In KartParty, players can enhance the level and value of their racing NFTs by participating in various in-game activities such as races, missions, and challenges. They also have the freedom to buy, sell, and trade their racing NFTs on the market. 

• Racing

Racing is the core gameplay of KartParty, where players can drive their racing NFTs on various tracks in the game, competing against other players or AI. There are different modes like solo, multiplayer, team, ranking, tournaments, etc., each with its own set of rules and rewards. During races, players can leverage the performance and attributes of their racing NFTs, as well as various on-track items and obstacles, to gain an advantage and win. The outcomes of races impact the player's points, ranking, prestige, and earnings. 

• Community

The community aspect of KartParty offers extended gameplay where players can interact, collaborate, compete, and create in various in-game community settings. These settings include themes like garages, clubs, markets, factories, museums, etc., each with its functions and activities. In the community, players can showcase their racing NFTs, buy or sell desired racing NFTs or accessories, and participate in or initiate various community governance and decision-making processes. Future game updates will include a highly customizable, code-free editor, allowing users to design their own vehicle components and level gameplay. Community activities influence players' relationships, influence, contributions, and earnings. 

Comparable Project Comparison 

Within the genre, there exist several small-scale racing games, many of which share business models akin to KartParty's. In these typical racing games, players must initially purchase a vehicle, and by consistently investing in their vehicle, players enhance its performance, thereby increasing their chances of earning.  

What distinguishes KartParty is its unique modular system centered around the vehicle. Each car in KartParty is equipped with 9 different modules for player customization, allowing for thousands of possible combinations. 

The game is also developing towards a party game sandbox-like metaverse with multiple gameplays and open world freedom. 

Roadmap

Tokenomics

• Utilities

The gaming model employs a dual-token and NFT system: 

1. NFT: Players upgrade cars and drivers by consuming tokens. This mechanism centralizes and locks the play-to-earn value within the NFTs, contributing to market stability.
2. Gold Coins: These are restricted circulation tokens, exclusively tradable with the official entity, and have no upper limit. Gold coins can be earned: 1, At the end of the season based on rankings; 2, Through high-yield instance chests; 3, By winning official tournaments; 4, By purchasing in the official store. Gold coins are used for 1, Upgrading NFTs, Refueling, repairing, and beautifying cars; 2, Purchasing high-yield instance and race tickets; 3, Converting into honor tokens and creating new in-game NFTs in combination with honor tokens. 
3. Honor Tokens: These are governance tokens and financing targets acquired by staking and used for participating in game governance and sharing in-game profits. The total supply is 1.2 billion, and they are freely tradable. Honor tokens are earned at the end of the season based on the official income and the amount that can be exchanged. The exchange rate is dynamically calculated according to the number of gold coins in the exchange pool. Honor tokens are used for 1, Creating new in-game NFTs in combination with gold coins; 2, Renting in-game commercial facilities, such as gas stations and repair shops; and 3, Guild upgrades.  

NFT Sales 

• Genesis NFT Collection — YKZ 

YKZ represents KartParty's Genesis NFT collection, which was freeminted on August 18th, 2023. This collection consists of a total of 700 pieces, each encompassing the following privileges: 

1. Airdrop of all future NFT series
2. Airdrop of in-game tokens 
3. Ensured priority access to game beta experiences 
4. Early access to game content 
5. Extra rewards within the game victory 
6. Generous rewards through staking       

Since the announcement of the freemint event, YKZ has garnered considerable attention, and the whitelist qualification has become highly sought after in the market. As development progressed, we observed a steady increase in the collection's floor price. 

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