The 404 Protocol of "Duality of Graph Coins" and Its Implications for the Blockchain Gaming Sector (Part 2)

The previous article discussed the 404 protocol of "coin duality" and its implications for the blockchain gaming sector. This article will continue to delve deeper into this theme.

I. Supplement to Several Basic Concepts

Before discussing specific application cases, it is necessary to further elaborate on several key concepts:

1. This article categorizes protocols with "dual nature of token" as category "404", including ERC404, DN404, and BT404.

2. The main differences between these protocols:

ERC404 is one of the earliest protocols, combining ERC721 and ERC20, but with higher Gas fees. The first application is Pandora, which uses a "treasury queuing rotation" mechanism for NFT minting.

3. The probabilities of the five colored boxes of Pandora do not represent the total ratio, but rather indicate the chance for players to draw a specific colored box through multiple transfers. Theoretically, 10,000 NFTs could all become red boxes.

4. DN404 and BT404:

DN404 improves upon the ERC404 standard by bridging ERC721 and ERC20, reducing Gas fees and allowing for a customized extraction mechanism. A certain platform is the first application of DN404.

BT404 introduces a new NFT locking mechanism and a P2P trading market, making it more suitable for blockchain gaming applications. It allows players to lock their desired NFTs and choose NFTs from the P2P market, with transaction fees shared among all holders.

2. Several Cases in the 404 Track

Lumiterra

Lumiterra attracted attention in Q3 of last year, combining three tracks: Defi, Socialfi, and Gamefi. The "Lumiterra Totem 404" NFT launched in March showcased multiple innovations:

1. Independently developed contracts with a high degree of innovation.
2. Only by trading tokens on the platform can new NFTs be minted, increasing liquidity and income.
3. Introduce the NFT Lego mechanism, including three types of NFTs: base, top, and totem.
4. Use a "stacking" mechanism for NFT circulation, with NFTs that are destroyed first being minted first.

Yuliverse

Yuliverse is a WEB3 social positioning game. In mid-March, the OG 404 assets were released, with a total of 1000 units. Compared to Lumiterra, its gameplay is relatively simple:

1. Based on the DN404 protocol
2. As an OG Pass carrier, join the coin swap gameplay.
3. Have multiple benefits, such as token airdrops, advantages in game resources, etc.
4. Choosing DN404 mainly considers Gas fees and technical support

BinaryX

BinaryX launched a new game Project Matthew based on the BNB chain in March, issuing the ERC-404 token MB4:

1. Total supply of 40,000 coins, 90% available for players to mint.
2. Distribute airdrop weight based on NFT rarity
3. Burning MB4 can obtain advanced asset Land
4. The main purpose is to provide consumption scenarios for the BNX coin.

Overall, BinaryX has not innovated at the protocol level, mainly empowering and nesting at the application level.

3. Future Outlook of the 404 Track

The 404 protocol is one of the few innovations in this bull market, integrating gameplay into the protocol and the game economy. However, it is currently limited to the application level and lacks a larger narrative support.

Compared to the innovations of the last bull market such as DEFI, NFT, Gamefi, and Meme, this bull market lacks truly groundbreaking new concepts. AI has potential but falls within the WEB2 realm, inscriptions and runes are similar to Meme, the Solana ecosystem mainly reflects Meme, and RWA and Depin are not yet mature.

The current bull market is mainly driven by the influx of capital, including existing funds from the crypto space and new capital from WEB2. However, relying solely on capital-driven momentum is difficult to sustain; the industry needs endogenous development and innovation to enter a stable period.

Although the "Graph Coin Bifacial" 404 protocol may seem trivial as an innovation, it still represents a direction worth paying attention to in the current environment lacking significant breakthroughs.