For a long time in the bear market machine-made articles have always came into our view whether in the blockchain space, we-media or in financial magazines. But what is the shining light of this long and ongoing bear market? It begins with this collaboration auction event between Elastos and FishChain.io including sponsorship from GAEX.com, the world’s first game asset exchange and service platform for blockchain games.
FishChain.io is a high-quality blockchain game project listed on GAEX.com and they have developed Paopaoyu 1&2 (bubble fish), a website game with 30,000,000 registered players around the world. FishChain is a leisure game best suited for most people into blockchain and gaming. Elastos is a high-quality public chain which has cooperated with GAEX.com. The breakthrough that has been made by Elastos with blockchain technology not only provides a distributed application and separation of the Internet for the first ever fully secure environment of the network but also gives full scalability for the millions of users. GAEX.com knows a great deal about games as well as the public chains. This is the reason why since July, together with Elastos and FishChain, GAEX.com has prepared this auction event and after two months of development it officially started on September 28.
GAEX.com has created a platform for games and the public chain, while FishChain.io has created a unique game playing method suited for Elastos. Also the game content of FishChain is a reservoir for Elastos which can reduce the outside circulation, increase the amount of ELA holders and also improve the value of ELA. For this cooperation, FishChain has designed the unique ELA Fishes and ELA Fishbowls which takes the example of the representative, Jane Fairy, from the previous game Paopaoyu. There are two gold ones which are customized from the 20 fishbowls and there are only 200 fishbowls in the game. ELA Fishbowls are the mining machines which can mine ELA in the game. ELA Fishes are CPU’s which can provide the computing power. Users can mine ELA by putting ELA Fish in the ELA Fishbowl. GAEX.com has sponsored 1,000 ELA as the initial mining pool to support this event. Part of the ELA in this auction will be taken out into the mining pool thus to promote the development of the whole Elastos economic system.
FishChain, Elastos and GAEX.com have all adequately prepared for this event. The first things to do was to create the different versions of promotional posters and also produce a live streaming event in the telegram community of Elastos to give an explanation about the details of this event and information about the Fishchain game. The ELA holders have the opportunity to try FishChain and explore new ways of playing, while at the same time players from FishChain get a chance to know about Elastos. There are players who have already bought a large amount of ELA in order to collect the customized ELA Fishes and ELA Fishbowls. The great involvement in this event proves it is a perfect application for blockchain games in the public chain. The auction is also an attractive part in the event, from 13:00 Sept 28, 2018 to 13:00 Oct 3, 2018. 240 ELA Fishes and 20 ELA Fishbowls have been sold during the auction with the total income of 1306.23ELA. Part of the income will be put into the ELA mining pool in batches to help the sustainable development of the Elastos ecosystem. The auction process has created so much excitement that a beautiful blue fish was bought for 100 ELA by an Elastos supporter from Australia, which has been so far the highest price for an ELA Fish. There are three phases for this auction: exploration, discovery and rationality. In the exploration phase, whether they are from the communities of Elastos or FishChain users can explore the value of the ELA Fish and Fishbowls by means of exploring and discussing the game contents. In the discovery phase as some users become more and more aware of the contents of this event they begin to think about the collection and investment value of the auction items. Some users are willing to pay a relatively high premium for items with limited commemorative value. For example, the ELA Fishes with high computing power (greater than 350) with limited ELA fishing boats have been successively sold at the high prices of 50ELA and 100ELA. Lastly, in the rationality phase since some users’ collection needs have been met most of the prices have stabilized during the auction on the last day and no higher prices have been taken. However, the users who have possessed ELA Fishes have reconstructed the existing market value system in the game. According to preliminary statistics, the value of the rare genetic Fishes in the market have increased by 50% from the original basis.
After the small peak from the auction we also summarize the feedback from communities. Similarly to the auction, there are three phases in the communities: query, exploration and participation. In the query phase, the majority of users in the communities are investment-oriented so they haven’t fully recognized the value contributed by the game contents for ELA. At the start of this event some people questioned it and at the same time users from FishChain were not fully aware of the significance of this event; this is the beginning of the query phase. While questioning, users began to seek more information in the communities about the cooperative game items such as ELA Fishes and ELA Fishbowls and this is the exploration phase. In the Telegram channel we can see that users are slowly accepting this. When more and more people learn that FishChain can give ELA Fishes and ELA Fishbowls further game content, they will start to participate more in the game and will share more information about Elastos and FishChain in the communities. At the end of the auction, FishChain will gradually implement some more of the games features, making ELA more entertaining in the game. In the ELA mining pool of the game the initial mining is 1000ELA, which produces 500ELA in the first month, 250ELA in the second month, and so on. In addition, the ELA brand pool will be set up to allow more game users to purchase ELA to participate in the fish pool activities. At the end the ELA fishing function will be launched to create demand for more ELA in the game. We believe that with the participation of these areas and the expansion of this event a more active ELA game world will be created in FishChain.io, having players experience the fun and wealth opportunities brought about by the game in the long bear market plus realizing a perfect combination of games and public chains.
Soon after all this, ELA Fishes and ELA Fishbowls will become certified digital assets on the Elastos side chain and will truly be part of the Elastos ecosystem.
Fishchain Official Website: https://fishchain.io/
GAEX Official Website: https://gaex.com/
Elastos Official Website: https://www.elastos.org/en/