Chain Colosseum Review: The First Crypto Game with Safeguards Against Soft Rug
Chain Colosseum is the latest entrant into the rapidly growing crypto gaming space. It is a blockchain-based play-to-earn (P2E) storybook-like game with a double token system comprising $COLOS and $SKILL.
$COLOS is a governance token used to create characters, equipment, and accessories. The token can also be used for liquidity staking on ApeSwap. Players can only get $COLOS by either converting $SKILL or via ApeSwap. $SKILL is the second token of the Chain Colosseum ecosystem; it is used to strengthen characters and upgrade equipment. Players can boost their character’s power by merely holding $SKILL in their wallets.
Chain Colosseum: Enter The Battle
Chain Colosseum takes its inspiration from the hack and slash adventure games of yore, where a sense of accomplishment and satisfaction was gained from defeating formidable enemies and bosses. Chain Colosseum makes every victory worthy.
But more than the difficulty of its gameplay, what makes Chain Colosseum different is that, unlike other crypto projects, the Chain Colosseum management team did not allocate itself a share of tokens in the initial token listing. Most decentralised finance (DeFi) and crypto gaming projects usually have a substantial chunk of the total token supply reserved for founders, developers, or even advisors. These holdings potentially turn a project’s management team into whales and make the project more susceptible to a soft rug scam.
The soft rug scam is a problem bedeviling the nascent crypto gaming and DeFi spaces where the developers dump their share of a project’s native token into the market when prices rise, and then exit the venture. A large token dump usually leads to an immediate price slump and sparks further panic selling from the community members of a project.
The Chain Colosseum management will not have tokens handed to them for $0, immediately making the project a much safer bet for both gamers and investors; because there will be virtually no risk of a token dump.
Chain Colosseum is divided into two areas of gameplay, Luida’s Bar and the Colosseum. In Luida’s Bar, players will get their character non-fungible tokens (NFTs), which will cost $100 worth of $COLOS. Characters in the game come in three different professions: warriors, thieves and investors. Each profession will have not only different weapons and accessories but also slightly different initial stats. Players can gain weapons and accessories through what is called an item gacha. A single gacha will require $30 worth of $COLOS, and the equipment generated will have different star ratings, ranging from one star for weak equipment to five stars for the strongest.
In the Colosseum, players will get $SKILL and $COLOS for defeating enemies. Here players can select characters, equip them and enter them into battle. These battles comprise three rounds, with the final round being a boss fight. Winning the third round will earn a player $COLOS besides the $SKILL they would have gained in the first and second rounds. There is a one-hour cooldown period after each battle, but that time can be shortened to thirty minutes by staking $COLOS.
Apart from regular battles, Chain Colosseum has another game mode called Raid where players join up to defeat powerful bosses. Rewards are dished out depending on the amount of damage a character inflicts on the raid boss. A player can challenge a raid boss only once every 24 hours, and being exceptionally powerful, the raid bosses require multiple challenges to be defeated.
Skill Boost, NFT Marketplace and Boss Mint Ticket
Another aspect of the game is skill boost, which increases a character’s power levels. Skill boost can be gained in two ways: by either buying directly using $SKILL or by just holding a certain amount of $SKILL in your wallet. When a character’s power exceeds 1,000, the character can be promoted to a higher role. Each profession has a different higher role: warriors are promoted to knights, thieves are promoted to assassins, and investors are promoted to emperors. However, promotions will incur a fee, pegged at $1,000 worth of $COLOS.
Apart from the Colosseum and Luida’s Bar, the Chain Colosseum platform will also host a dedicated NFT marketplace where players and community members can buy and sell characters and equipment.
Interestingly, Chain Colosseum offers players the chance to create their own boss fight characters using the Boss Mint Ticket feature. A minimum of 24,000 tickets are required to mint a boss character, and one $SKILL can be converted into ten mint tickets.
However, a minted boss character will be burned and lost forever if it gets defeated three times in battle.
Security Audit and KYC
Chain Colosseum successfully completed its smart contract audit, carried out by the German-based audit firm, SolidProof, no issues of high or medium criticality were discovered. At the moment, a representative of the project’s management team has submitted documents to the same audit firm in order to facilitate a Know Your Client (KYC) process. The KYC process will enhance Chain Colosseum’s transparency, accountability, and trustworthiness in an industry bogged down with scams.
Presale and Token Distribution
Rather than their governance token, $COLOS, the Chain Colosseum team put the platform’s secondary token, $SKILL, into general presale from December 3, 2021, and reportedly sold out within three hours, raising 2,000 BNB. $SKILL tokens can be converted into $COLOS after 25 days. Players who do not want to wait for the 25 days can convert their $SKILL immediately, but this will attract a penalty of up to 50%.
The BNB raised in the $SKILL presale was distributed in the following manner:
- 50% was set aside to provide initial liquidity on ApeSwap.
- 20% will be used by the management to buy back $COLOS tokens from the market at the same rate as regular users.
- 10% is earmarked for marketing, specifically the project’s referral program.
- 10% will compensate the project founder.
- 10% will compensate the dev team.
$COLOS is listed on CoinMarketCap and at the time of writing was trading at $5.41, with a fully diluted market cap of $2.35 million.
So far, the Chain Colosseum team has achieved a fair few milestones on their roadmap. This includes creating a website and a host of social media handles, a public sale launch, a listing on ApeSwap, a security audit, and the game launch itself.
The second phase of the roadmap will see the project release a PvP game mode, launch new boss events, upgrade its NFT marketplace, launch guilds, and get into partnerships with various decentralised exchanges (DEX).
The ultimate phase of Chain Colosseum’s roadmap will begin with listing of $COLOS on various centralized exchanges, followed by launching of a mobile version of the game, and culminating in implementing multi-chains.
The P2E gaming space is steadily getting crowded, and new projects need to be different to stand out. Chain Colosseum achieves this uniqueness by being the only project so far whose management team does not receive any share of its token allocation, ensuring that there is no selling pressure by the management team and thus protecting community members from the price devaluation usually caused by major token dumps into the market. Better yet, it means that the Chain Colosseum community faces very little risk of falling victim to the soft rug scam that defrauded investors in projects like Polywhale and Swipe. Also, it is a sign that the management team is not in it for profit but for the love of the game and the players, a factor that will give gamers great confidence in this project.
Another plus for the Chain Colosseum project is its attitude towards battle automation tools (BOTs). The platform uses Google reCaptcha to sniff out BOTs and maintains a zero-tolerance policy against them. Players on the platform found using BOTs will have their NFTs confiscated. This level of vigilance against BOTs protects those who are playing the game normally from unfair practices by bad-faith actors.
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