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Essence Crypto Good or BAD?!

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Essence NOW confirmed being the future crypto token of Earth2!

Earth 2 celebrated its 1 Year anniversary with a bang! A huge annoucement was made (Click Here) where mentions of Air drop of ESSENCE would take place within the coming 7 days among other things!
Moreover, Investors were missing out the crucial piece of information regarding crypto in Earth2 which led to investors asking Shane Isaac (CEO) directly…And Shane confirmed!

It is not known if ESSENCE will be the only crypto token in Earth2 but it surely is one. New information open up many new question marks. What will be the place and function of the E2 Dollar already existing as a means of exchange? If Crypto gains a relationship to be traded outside the platform and for USD it would possibly render E2 Dollar obsolete? Moreover, other game mechanics that have been where ESSENCE / E2 Dollar relationships can be calculated would be affected.

1. Currently Investors can choose to buy EPL for 4,95 USD or 400 ESSENCE giving a 1,23 cent value of essence. Bad deal?
2. ESSENCE is used when upgrading Jewels. It can cost over 58 ESSENCE to upgrade jewels, worth it ?

It is safe to say that holders of ESSENCE will now hold or HODL it even more.

Hyper inflational token ?

It is not yet known if ESSENCE have a Volume Cap or how much ESSENCE that is circulating in supply yet. This is information that will come later. However, if we compare with 2 other successful Metaverses and their tokens.

  • Decentraland & MANA Token – CAP: aprox 2 Billion Sand
  • Sandbox & SAND Token – CAP: 3 Billion Mana

Both of which the value of the tokens have exploded recently.
But how are these tokens actually “generated” or originated ?

Both tokens is sold centrally from the Game itself via Sales Events. Both tokens are also following a specific release schedule. See below pictures of this.

Question now becomes how ESSENCE will hold?
Essence is daily generated by in-game investors and not SOLD centrally from a “bank/reserve” as above tokens. E2 Dollar is much more similar, currently, in that instance where it is directly bought.

In the beginning ESSENCE were only generated by owning tiles. aprox 1 E-ther per 58 tiles owned. This benefitted those who bought many tiles and larger properties. With the introduction of crafting jewels it is now made possible to boost E-ther production. Sunset, Sunrise and Jamaican all boost +2 Ether production. This is boosting ESSENCE generation into a whole new level! (We will soon write a strategy article about this)

Not only the boost in ESSENCE generation it was now also decided that Earth2 will make ESSENCE airdrops within this week as a BIG REWARD to the investors. If this is to be fair it should not be afixed value for all investors but rather an X Multiple of the already amount an investor is generating. Example 10X, 50X, 100X multiple on the investors regular amount.

The future might be different

Even though ESSENCE is generated quite heavily for free versus competitor Metaverse tokens this could potentially change. Perhaps is this merely a “small” window of benefitting the Early investors!

And later on Essence generation will STOP?

If we take a look at the MANA token ownership distribution it looks like this:

Here we can see the “Team & Early Bird Contributors” is a 20% part of the distribution. Perhaps the current boost in ESSENCE generation is limited and this is the actual GREAT REWARD for the early investors!
This if the ESSENCE generation eventually ENDS!

Vote & Governance?

Other tokens in the competitors Metaverses also act as voting rights. Introducing a crypto token into E2 could potentially also solve or enable the option to implement a governance structure within the platform.

It is safe to say that much will most likely change in the future and the Earth 2 Investor have a lot of surpirses ahead and fingers crossed that it will be a joyful ride!!

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