The online gaming market is growing fast at a CAGR of 8.3%. The industry is also evolving from how it functioned in the past. More gamers are trying to avoid dealing with large corporations and crypto just might be the solution. EverFight hopes to provide this solution and has created a platform specifically designed for gamers. The only question is whether or not the project can deliver on its promises, so we dug through it to find out.
How the EverFight platform works
On this platform, gamers participate in one-on-one games called CryptoWars. There will be many of these minigames on the EverFight platform and everyone will be free to enter. Matches are selected randomly and smart contracts are used to determine the winner after each game. CrypticGames and a master smart contract function ensures total fairness during the games and eliminate bias.
To participate in the games, there are 2 ways to go about it. One is by entering a play room. Here, all players who want to participate pay an entry fee, which is accumulated into a crypto pool. Thereafter, winners earn rewards from the pool. The other way to play is simply by holding $EF, the native token on the EverFight platform. These games are held every 3 days and anyone holding $EF can take part. No entry fee is required here and players get rewarded in BNB.
$EF and $AM
This is the native currency of the platform and is a BEP-20 token built atop the Binance Smart Chain (BSC). It’s used for playing EverFight games described previously taking place every 3 days. Its contract address as you can see on BscScan is 0xc0834ee3f6589934dc92c63a893b4c4c0081de06. You can buy this token on PancakeSwap in exchange for BNB.
Meanwhile, $AM acts as a currency for players who want to play one on one. It is used as the entry fee for the games as well as a form of reward after the games are played. Other functions include purchasing NFT characters for the games and upgrading characters.
32.5 billion $EF tokens were created at the launch of the EverFight games platform. 40.58% of these tokens are scheduled for burning to create deflationary crypto as demand increases. Various fees are then applied to reward players and developers as well as burning.
For instance, 2% of the funds accumulated in pooling games is deducted and 1% is used to reward players and the rest is burned. Meanwhile, sales fees incur a 13% fee, 5% of which is burned, 1% rewards holders, 5% is used in buybacks and 2% for marketing.
Is it a good investment?
If you look at the $EF price chart below from Poocoin, you will note that its price has been rising consistently since its launch. This is probably because of the success of the project’s marketing. Through social platforms like Twitter and Telegram, EverFight has been recognized as perhaps the next big crypto project in gaming.
You can keep track of the price of $EF on different platforms such as CoinMarketCap and Poocoin. So far, it’s yet to be listed on CoinGecko, but you can use DEXTools to find alerts and price predictions in real-time. $EF is currently only available on PancakeSwap but if it can keep its price going up, don’t be surprised to see $EF on a major exchange like Binance.