Night Crows by Wemade: Modern Insights into P2E Tokenomics

Wemade is a leading game developer in South Korea that has significantly expanded its horizons in recent years. Moving beyond traditional video games, the company has embraced blockchain-based innovations through its WEMIX PLAY platform. A landmark in Wemade’s journey was the release of MIR4 in 2020 and its blockchain-integrated P2E version, MIR4 Global, in 2021. These games gained immense popularity not just in Korea but globally.

The WEMIX PLAY platform enables the implementation of the play-to-earn (P2E) concept—a model allowing players to earn real income in cryptocurrency and NFTs through in-game activities. This shift from traditional gameplay to the P2E model has been a cornerstone of Wemade’s strategy, solidifying its position in the rapidly growing blockchain gaming market.

The WEMIX token serves as the primary currency within the WEMIX PLAY ecosystem. It facilitates a range of operations, such as purchasing NFTs, in-game tokens for P2E games, player-to-player exchanges, and gas fees. The tokenomics of the WEMIX platform provide a seamless connection between in-game economies and the broader ecosystem, enabling players to exchange assets and participate in play-to-earn mechanics. Let’s explore how Platform-In-Game Tokenomics operates in the P2E game Night Crows by Wemade in collaboration with MADNGINE. For insights into other tokenomics models, check out the article Evolution of Economic Models in Web3 Games.

Night Crows

Night Crows is a massively multiplayer online role-playing game (MMORPG) first launched in Korea in 2023. Developed using Unreal Engine 5, the game impresses with its high-quality character detailing, realistic landscapes, and effects, immersing players in a medieval fantasy atmosphere. The game features an expansive world, combining PvE and PvP content. A standout feature is its PvP orientation, allowing players to engage in large-scale clan battles, duels, and territory captures. These dynamic and strategically rich battles are complemented by PvE content, where players can explore the environment, complete quests, and battle NPC enemies. However, the competitive PvP systems remain the game’s highlight.

Night Crows is a cross-platform project, playable on both PC and mobile devices, ensuring a smooth transition between platforms.

A year after its Korean release, Wemade launched a global version of the game, incorporating blockchain solutions and P2E elements via the WEMIX PLAY platform. Now, players can earn in-game currency and assets with real-world value, enhancing engagement and motivation for a global audience.

Tokenomics and NFT Trading in Night Crows

Tokenomics in games refers to the system governing the creation, distribution, and use of in-game tokens. It plays a pivotal role in P2E projects, where tokens are used for player rewards, purchasing and selling game assets, and participating in the game economy.

The tokenomics of Night Crows centers around multiple in-game tokens and NFT elements. At the heart of the game’s economic system is the CROW token, which bridges the in-game and platform tokenomics. CROW can be obtained by converting the in-game token vDIA (Value Added Diamonds). Players earn vDIA through marketplace trading and quest rewards.

Conversion of vDIA to CROW is limited by the token’s price. If the average market price of CROW drops below $0.75 on WEMIX PLAY over the past 24 hours, the game prohibits further token minting. This mechanism minimizes volatility and maintains a balance between the in-game and blockchain economies.

In addition to CROW, the game utilizes six other tokens, each tied to specific in-game resources. Players can earn these tokens through gameplay and use them to craft items. These tokens can also be withdrawn to WEMIX wallets and traded for CROW on the PNIXDEX exchange. CROW tokens, in turn, can be exchanged for the primary WEMIX platform token. This exchange process stabilizes the in-game economy, as restrictions on direct withdrawals help curb inflation and prevent asset devaluation.

The token exchange system allows developers to maintain control over the economy, profit from transaction fees, and implement additional regulatory mechanisms. For instance, limits on exchange volume or frequency can sustain demand for game assets and enhance their value.

For players, this system offers dual benefits: they can develop their characters, acquire rare items, and convert their efforts into real-world value. This makes the in-game tokenomics beneficial for both developers and players, ensuring the project’s long-term sustainability.

Night Crows also features an NFT character marketplace, where players can buy and sell characters on the WEMIX PLAY platform. This marketplace complements the game’s platform-integrated tokenomics, enabling players to monetize their time and effort or accelerate their progress by acquiring developed characters.

In October 2024, developers announced an expansion of the game’s tokenomics, including the introduction of a new utility token and enhancements to the CROW minting mechanism. When the average daily market price of CROW reaches $0.75, the minting period is now delayed by an hour, allowing more players to participate in the process.

Challenges and Opportunities

While Night Crows demonstrates a modern approach to P2E tokenomics, several challenges arise with the integration of P2E elements:

1. Bots: One of the most pressing issues is the widespread use of bots, which disrupt the economy, inflate in-game currencies, and diminish the gaming experience for real players. Bots strain servers by performing automated actions, which is particularly problematic in games with auto-battle systems. Wemade actively combats this, regularly publishing reports on bans and account purges, but the issue requires ongoing attention.
2. Declining Token and NFT Values: Inflation of in-game assets leads to reduced player interest. Server mergers, reflecting declining player activity, highlight this trend. Devalued tokens and NFTs negatively impact player motivation, especially for those who invested heavily in rare items early on.
3. Legal and Regulatory Challenges: The integration of P2E elements exposes the game to varying legal and regulatory requirements across countries. Evolving cryptocurrency and blockchain gaming regulations may limit game availability in some regions or impose restrictions on token and NFT usage.
4. Web3 Technical Barriers: While the game is accessible in a Web2 format without blockchain integration, Web3 elements can be daunting for new players. Managing cryptocurrency wallets, conducting transactions, and understanding token and NFT mechanics require additional learning time. This may deter players accustomed to traditional gameplay and limit the game’s broader appeal.

Conclusion

Wemade continues to evolve the Night Crows project with regular content updates, proactive account bans, and the introduction of new tokens and simplified blockchain processes. This commitment to innovation in the gaming industry highlights Wemade’s dedication to its players and the broader blockchain community.

The game’s intricate and well-thought-out Platform-In-Game Tokenomics system, combined with its NFT integration, positions Night Crows as a successful modern example in the P2E gaming market. However, the project faces challenges, including technical and regulatory barriers, raising questions about the long-term sustainability of such initiatives. Extending the game’s lifecycle and increasing player engagement are key to achieving lasting success in the Web3 gaming industry.

Notably, Wemade’s ability to adapt and address challenges effectively strengthens expectations for the company’s continued success in blockchain gaming. With plans to expand its portfolio through upcoming projects like Legends of Ymir, The Midnight Walkers, Mir 5, This Means War, Mir 4/M China, and Lost Sword slated for release in 2025, Wemade is well-positioned for future growth.