Executive summary
New investment opportunity: Haunted Space round: $1.750.000 Seed for 10%
- Homepage: https://hauntedspace.io/ (Beta) https://hauntedspace.gitbook.io/whitepaper/
- Product: NFT-based AAA game. Players can play for free or decide to invest in the in-game NFTs, generating actual income by playing the game devotedly.
- Use-Case:
- P2E product based on already created ingame mechanics and graphics (for the Single Player version)
- Built for Gamers first, Play And Earn instead of Play To Earn.
- Monetization: Multiplayer P2E Revenue → Direct sales from Trading and Renting NFTs on the proprietary marketplace: 2% for every Marketplace trade.
- Country: Italian Games Factory s.r.l. Registered in Italy, Milan.
- Stats: Twitter 23.6K, Discord 13.8K. Epic Games Mega grant Winners
- Funding Round & Valuation: $5.53MiL in exchange for 27% on a 25 MiL Post money Valuation
- Investors: Seedify (Incubator program)
- Competitors:
- Pros:
- Strong game design orientation, build for gamers, with the goal to sell copies then give back value to the community
- A solid and diverse team with skin in the game
- Easy to understand game dynamics and reward mechanics.
- Tokens utility is easy to grasp for the average joe. All token interactions are designed to be natural for an optimal experience.
- Cons:
- High barrier to entry for normal players due to ETH network gas fee and whitelist approach (First come first served)
- Long estimated development time - Full Multiplayer P&E release will be in Q3 2023, 9 months after the Singleplayer launch.
- Unclear P2E standalone business model, independent from the sales of the single-player version. The main source of revenue derived from in-game NFT transactions will be available from Q3 2023 (1+ year after the OG mint).
- Not clear ETA for NFT integration on the game release platforms (Playstation, XBOX, Steam). Platforms, like Xbox, have developed private enterprise blockchains with low incentives to open up the market.
Ranking:
Score | Comment | |
Product | 3/3 | Gamers oriented with great features. Game dynamics are clear and guarantee constant interaction with the in-game assets. |
Business Model | 1.5/3 | Unclear Monetization before the launch of the marketplace and P2E version. |
Team | 3/3 | Solid team with veterans of the gaming industry, united together with Young founders and designers. |
Table of contents:
Product Use case
A standalone game separate from the Single-player version, Haunted Space Multiplayer will be Play-To-Earn (P2E).
Players can play for free or decide to invest in the in-game NFTs (OG Avatars, Battleships + Alien Artifacts, Space Titans, Planets).
Role-play yourself as a spaceship pilot within the galaxy, generating actual income by playing the game devotedly.
Target: built for Gamers first. Space War /Sci-fi / Horror games fans. Play And Earn instead of Play To Earn.
Problems:
- Low-quality games and Uncertain game Release
- Target gamer: Traditional gamers do not Play2Earn
Solution:
- High-quality and deliverables: build on Unreal Engine. Fast production time (Q4 22 Singleplayer Release date, 8-12 months for the Multiplayer P2E).
- Standard Gaming Industry connection: First blockchain project to connect Standard gaming with P2E ecosystem.
Ecosystem
- Players
- Single Player: Buying the game for Console/PC
- Multiplayer: Playing and Earning Reward HS tokens
- Stakers: Stake Governance HG tokens to earn rewards, get discounted Marketplace and in-game fees
- Farmers/Collectors: OG players or Investors that buy NFT to gain value from the price appreciation.
Features
- Free Game modes: Open World (win resources and upgrade); Free for all (Token Reward); Team Deathmatch (Token Reward)
- Paid Tournaments: Play “Free for All” and “Team Deathmatch” in competitive tournaments where players Pay tokens to play and can win tokens at the end of the game + seasonal rewards for top players.
Game dynamics
NFTs
OG Avatar NFTs
On Ethereum Blockchain
Our first collection will be of 5.555 high quality unique NFTs:
100% unique (no other Avatar NFTs will ever be minted)
More than 350 different traits Very high-quality standards
5 Guilds representing the future humans in the Haunted Space Metaverse
Supply: Limited to 5.555
Extra:
In the 5.555 NFTs there will be:
5 Unique NFT Bosses (1 for each Guild)
50 Unique NFT Guild Counselors (10 for each Guild)
Utility and Perks:
- Private OG Holder chat (private Haunted Space Discord channel chat with the Haunted Space development team and get sneak peek)
- Receive Free Single Player game
- VIP access to closed PAE Beta (closed betas, early features, mechanics before they release, extra content)
- Whitelist spot and discounted price on first NFT Battleships; random airdrop gifts
- Early Governance token $HG (Seed or Private) sale opportunity
Long-term benefits:
- Increase in-game rewards
- Future NFT drops whitelist
Battleships NFTs
Battleships will be the first NFTs that you will need to play the actual Play And Earn game on Haunted Space.
Battleships need in-game material (Gas to refill, and Metal to repair them, Plasma and Dark Matter to upgrade them).
Supply: Not limited, slowly grow following the game development, new ships release will take into consideration new players coming into the ecosystem to avoid big inflation.
Utility Info:
1 Tier to start playing for free, No earnings
3 tiers for P2E of Battleships:
- Rare (the first level to earn)
- Epic (rewards multiplier)
- Legendary (Highest rewards)
Extra - later Release:
- Alien Artifacts NFTs
- Space Titans NFTs
- Planets NFTs
Business model
Main monetization
Breakdown:
The main source of income will come from the sale of the single-player game, set to be released Q4 2022 / Q1 2023.
Multiplayer P2E Revenue:
- Direct sales: (Trade/Sell/Rent NFTs)
- Regular Users: 2% for every Marketplace trade 2% of the fees are allocated to Development
- HG token stakers*: No direct revenue, 2.5% of the fees are allocated to Development.
- NFT Release Sales (Mints): No direct revenue stream, 35/40% of the sale is allocated to Development
- In-game Sales: No direct revenue stream, 35/40% of the sale is allocated to Development
Marketplace economy:
Direct Sales - Trade or rent your NFTs on Haunted Space Marketplace
- Marketplace TRADING Fees: 10% fee for each txn* Allocation: 3% → Development; 5% → Rewards
2% Revenue
- Battleship RENT Fees: 10% fee for each txn Allocation: 3% → Development; 5% → Rewards
2% Revenue
NFT Sales - Buy NFTs Battleships and future drops in the different sales
Allocation**:
10% → Add LP;
5% → HS Bank;
35% → Development
50% → Rewards
In-Game Sales - Buy In-game Materials - (Way of spending HS Rewards) In-Game Materials: Gas, Metal Scraps, Plasma and Sonic Matter need to be purchased to proceed in-game.
Re-distribution**:
10% → Add LP;
5% → HS Bank;
35% → Development
50% → Rewards
Total Fee allocation
*If you stake HG tokens you will only pay 6% fees in the marketplace (3.5% Rewards, 2.5% Dev.)
**As disclosed in the whitepaper: 50% Reward, 40% Dev, 10% HS bank
Product and Monetization Questions:
- How do you plan to attract Singleplayer users to the P2E version?
- How do you tackle the risk of centralization of in-game assets by farmers or investors that care only about the Token and NFT ‘Usable value’ (USD)?
- How do you plan to reduce the high barrier to entry?
- How do you plan to solve high minting gas fees of the Ethereum network?
- How do you plan to convert free multiplayer gamers to P2E gamers (Common tier battleship to Rare)? The user could be satisfied with the game experience and ‘virtual points’.
- How do you plan to balance the rewards for the regular player (Non-Investors) and the amount of time needed to be spent in-game to generate decent rewards (investors and farmers)?
Tokenomics
Token utility
Haunted Guilds $HG
One liner: Governance token for reduced marketplace fees and locked staking
- Locked staking for APR + DAO access (1-3-6-12-24 months)
- Stake to Play: receive materials and claim them in game
- Special tools
- Modify your ship
- Special future NFTs
- Reduced fees in Haunted Space Marketplace
Haunted Space (HS)
One liner: Reward token, earned and spent by playing
- Pay rewards
- Buy in-game NFTs
- Buy in-game resources
- Repair Battleship
- Level up your Battleship
- Special tools/Modify your ship
Token Analysis
- Token type: Utility token
- Intended use case: Boosts gameplay experience, reduce fees and Earn staking rewards
- Market cap: $635.500 Fully diluted Market Cap: $25.000.000
- MC/FDMC ratio: 0,0254 High future inflation
- Allocation and distribution
- Pre-minted or Fair launch: Pre-minted, with priority to OG NFT holders
- Hard-caps or Airdrops (Inflationary or deflationary): Hard-Cap at 100 Mil
- Team: 14%
Distribution: Community fund and reward 35%
- Token velocity and Intrinsic value
- Token velocity of HG is expected to be moderately low since the reward token HS will be the main mean of exchange for the game.
- Solutions adopted: Locked staking for APR, Staking for in-game materials and reduced fees. Separate reward token
Intrinsic Value | Speculative Value | ||
How well does the token fulfill the premises that it set out to fulfill? | - Locked supply with staking
- Game design is proven by singleplayer version, attracting a broader audience to the P2E
- Reward token has controlled inflation allowing users to not only spent rewards but also gain Governance tokens. | Will the token be worth more money in the future? | NA |
Does the token provide value in it’s market sector? | - Before the release of the Multiplayer the tokens have low utility to justify an increase in market share. | Will the project provide value in its market sector? | NA |
Do people use the token for its intended purpose? | - Receive rewards and spend in-game | Will there be enough liquidity to make a return ? | NA |
Questions regarding tokenomics:
- Which Fee allocation you are planning to give away for Referral royalties (1.5% to 3% of the tokens spent in-game)?
- Why do staking and LP rewards allocation have a vesting period of 7.5 years ?
- How staking will be integrated into the in-game dynamics? How non-gaming investors can bet on the future of the title and ecosystem?
- How do you plan to maintain the scarcity of the battleship NFTs?
- What will be the estimated inflation rate $HS? Do you plan to mint new tokens or only re-distribute the fess collected?
- How do you plan to distribute the Ecosystem funds?
Deal Structure
Raising $5.53MiL in exchange for 27% on a 25 MiL post-money valuation)
Presale allocation | BLS Tokens | % | USD Raised | TGE Unlock % | Sell Price |
Kols + NFT Sale | 1.600.000 | 1,60% | $344.000 | 10,00% | $0,215 |
Seed | 10.000.000 | 10,00% | $1.750.000 | 6,00% | $0,175 |
Private | 11.800.000 | 11,80% | $2.537.000 | 9,00% | $0,215 |
Public | 3.600.000 | 3,60% | $900.000 | 20,00% | $0,250 |
Team
Italian Games Factory (Registered in Italy)
https://www.italiangamesfactory.com/ IV production and iMaster Art (Both under Ivan Venturi)
Incubated by Seedify
Roadmap
Q2 2022
- OG Avatar NFTs Private sale for communities and tech partners
- OG Avatar NFTs Whitelist sale for early supporters
- Full website ready
Q3 2022
- OG Avatar NFTs Mint and reveal
- Governance and Utility tokens SEED round
- Game account- Economy - integrations
- Smart contracts development
Q4 2022
- Governance and Utility tokens PRIVATE round
- Single-player Beta release
- Early access to the Single Player game for the OG NFT holders
- Smart contract Audits beginning
Q4 2022 / Q1 2023
- Governance and Utility tokens PUBLIC round
- Single Player game release on PS4 - PS5 - XBOX Series X - XBOX Series S - Steam
Q1 2023
- Governance and Utility tokens listings on exchanges
- Marketplace release
- Battleships NFTs sale start - 1st sale
Q2 2023
- PUBLIC BETA of P&E game for all NFTs Battleships owners
- DAO creation
- Second NFTs Battleships sale P&E
Q3 2023
- New game models implementation (team deathmatch)
- Full Multiplayer P&E release (console level game with 3d animations)
The rationale for investment:
- Strong Team with various backgrounds and skill sets (IT, E-commerce, ADS, Game design, NFT design)
- Balanced Team vs community token allocation
- Good community stats, the title is highly anticipated and thousands of gamers want it
Analysis by Mark Mercatali. Disclaimer: This analysis is based on personal opinion only. This is not intended as investment advice. Do your own research. All company data is owned by the respective owners.
