To incentivize users to vote with the new 1UP community dApp we will introduce a loot box system for digital collectable items and an entertaining way to do randomized airdrops. In this post you will learn how they can be traded and create value for the users.
What is 1UP In A Nutshell?
1UP is a new open source communitiy upvoting app where user votes are equal. It daily upvotes the ten highest ranked posts in each community with a smart curation rewards system. We create the UP token based on Steem's upcoming Smart Media Token (SMT) and distribute it to Steemians and communities via various airdrops. UP holders will support community growth and enjoy higher than average returns through smart curation.
For more information please check out our @Fundition fundraiser below and share 6 million UP tokens with the backers.
|1UP Fundraiser||Token Distribution|
Open Source Repository
The 1UP Loot Box System
We have created a developer task request for a loot box system. The idea is to create a strong incentive for users to give all their daily votes to the best posts, create a bridge to Steem Monsters and other dApps using non-fungible tokens (NFT's) and increase the value of 1UP itself through digital collectibles with controlled rarities.
What is a Loot Box?
Commonly known from various games, loot box systems are ways for rewarding users with random digital items. They have become very popular and transformed the gaming industry. Sometimes they are monetized which created a lot of criticism for the gambling aspect of them. 1UP will never sell loot boxes but create them for free in return of bringing a service to the platform and its communities.
Loot Boxes are digital items that contain other digital items. In case of 1UP, we will make the unopened loot boxes tradable. Just like Steem Monsters, we will create entries on the Steem blockchain via JSON inputs and assign ownership of the loot boxes to Steem accounts. They can then be send out of the 1UP wallet to other users or traded on a decentralized exchanged (DEX) like Peakmonsters. The content of the loot box is unknown, until a user decides to open it.
What is in the 1UP Loot Box?
During the pre-SMT phase, 1UP is doing many different airdrops of its upcoming UP token. An entertaining way to distribute some of it will be via a random airdrop within each loot box. When a user opens the box, the random surprise airdrop will be displayed with a game-like animation and added to the users UP balance via JSON entry. The exact amounts for the random airdrop range will be announced when the system goes live but it will contain a jackpot option.
Besides the loot box itself, 1UP is planning to create its own NFT's. Non-fungible means, that each token can be unique, unlike Steem or Bitcoin, which are always the same. CryptoKitties is a good example for a NFT. With 1UP, they are technically no seperate tokens either but simply ownership entries on Steem accounts. Each loot box will have the chance to drop one of several mushroom monsters with special rarities and a limited supply.
These example cards will get a special 1UP design.
These Mushroom Monsters can be implemented by games like Steem Monsters, which would give them a value and increase the demand for attaining them. In return, it would drive traffic from 1UP to the dApps and increase their business. The monsters will follow the Steem Monsters system and come in Common, Rare, Epic and Legendary rarities and offer much rarer gold foil versions of each of them. 1UP will provide free high quality graphics for the mushrooms, so third parties can easily access and integrate them into their own products and designs.
Room For More
There is much more what we can do with the loot box. Communities could offer special community rewards, that increase their drop chance with each vote done within that community. This could create a healthy competition, as voting with 1UP is naturally scarce for each user through the ten daily votes limitations. We invite all our communities to feel free to come up with ideas for themselves. We will concentrate on the main loot box features first but are very open for your feedback.
Triggering a Loot Box
For 1UP it is important to collect a broad amount of votes to find consensus and reward the best content possible. To receive a daily loot box, the users will have to spend all their ten daily 1UP-votes on any community and posts they like. All loot boxes will be created at the end of each day and calculate exactly how much of the daily total available pool of UP airdrops and NFT's are assigned to all loot boxes. They will then be issued to the user accounts all at once.
Drop Chances via Quality Score
As it is human nature, some users will try to just get the loot box and click on the first posts they can find. To balance that, we will use the Quality Score (QS), which we introduced in our Fundition campaign. Each 1UP-vote done on the same post you already voted upon will add to your daily QS. If the post wins then you even get a multiplier on top of it. All your votes can add to your daily QS and will influence the drop chances within your loot box.
Although the exact content of a loot box will always be unknown until opening, the quality of the loot box itself, will be known: we will use the same rarity as for the Mushroom Monsters: Common, Rare, Epic and Legendary. These rarities merely symbolize the drop chances for the loot and give no guarantee for any specfic content. A common loot box can contain a jackpot airdrop and a gold foil legendary monster, while a legandary box could contain something much less disirable. However, the chances for good loot are higher with greater rarity.
Selling Fees For NFT's
Just like Steem Monsters does with monsters being traded on a DEX, we will take 5% fees and share them with the DEX they are sold on. The income generated from that will be used to pay for ongoing 1UP costs and to stablize the UP token economy by various efforts. This could add an important support for the future UP economy.
The Loot Box system is a great way of gamification, that allows 1UP to achieve maximum voting potential and create a whole new economic aspect for the entire project. It is fun to use and can create substantial values for the users if the NFT's are integrated into popular dApps with money incentives like Steem Monsters.
Series Backlinks To 1UP-Dates
- Announcement Post and Fundition Campaign
- Fundition Campaign, New Platform Account And UP Token Distribution Explained
- 1UP Airdrop For Communities: Steem Monsters Spotlight
- Community Growth, Specialized Community Airdrops And Utopian Support
- 1UP Community Airdrop: Esoteric Community Spotlight and Contests
- Mushroom Monster, No More DLive & Fundition Update
- TribeVibes Mascot, More Community Airdrops & Official Steem Monsters Boss
- The Animated 1UP Introduction Video