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What is Genopets (GENE)? Everything you need to know about GENE token

Publish by Quang Phan at 09 November 2021

The Gaming sector on Solana is growing increasingly fast. Recently, a large number of new games have been released on Solana, bringing a huge wave to the ecosystem. Genopets is the next name on the list.

In this article, let’s go through all the details about Genopets and its tokens.

What is Genopets?

Genopets is a Free-to-play, Move-to-earn NFT mobile game built on Solana. However, Genopets is not a conventional game, whereas everything happening within is only virtual; instead, Genopets implements real-life activities into the game, which are tracked by fitness wearable devices.

Genopets Website: https://www.genopets.me/

Genopets combines the nurture and evolution of Tamagotchi, the training and battling of Pokemon, and the crafting and collecting of Animal Crossing. Genopets is not only a comprehensive game learning from its predecessors, but also a really helpful and beneficial one as it involves both physical activities and mini-games.

What are Genopets Tokens (GENE & KI)?

Genopets features a dual token system consisting of GENE and KI, which is believed to be an improved version of Axie Infinity’s tokenomics:

  • GENE token acts as a fungible governance and staking token.
  • KI token plays the role of an in-game reward token.

How does Genopets work?

First of all, Genopets is a Move-to-earn game, which can be explained as:

Move-to-play + Play-to-earn = Move-to-earn

Genopets realized the potential of the wearable industry with applications like Fitbit or Strava, which have done a great job to motivate people to embark on physical activities. However, that has only stopped at the stage “Move-to-play”, whereas through Blockchain, Genopets implements the “Play-to-earn” factor to create something called Move-to-earn.

The Genopets battle system follows that of Pokemon, which is the turn-based mechanics. Users will own pets, grow them, fight other pets and then repeat, which is a simple yet really exciting and addicting gameplay. Nevertheless, Genopets has made the gameplay even less boring and repetitive by alternating original in-game grind with physical movement, allowing players to earn virtual XP through real-life interactions.

Some game elements can be listed as:

Genopets: A generative non-fungible token representing your pets (or fighters if you want), which can evolve through battles and upgrades. An infant Genopet can be minted for free.

Different versions of Genopets.

Refined Crystals: A non-fungible token that can be crafted using GENE and KI. Crystals exist in many forms and can affect gameplay as well as Genopets’ evolution.

For example, using a Fire Genotype Crystal changes the Genopet type to Fire for a certain duration, granting it a fiery appearance and attacks.

3 types of Crystals.

Habitats: Habitats are where Genopetes live and evolve. Habitats allow players to directly craft Gene Crystals and earn KI from gameplay.

  • Different types of Habitats have different effects on Genopet skills and Gene Crystal crafting costs.
  • Players can lease their Habitat to other players and earn revenue.
  • Each Habitat can only support 1 Genopet at a time.
  • A Habitat must be maintained constantly with crystals, or it will be broken and stop earning KI.
The look of different Habitats.

Detailed information about Genopets Tokens (GENE & KI)

GENE Price Today

Updating...

GENE Key Metrics

  • Name: Genopets.
  • Ticker: GENE.
  • Token standard: SPL.
  • Token type: Governance, Utility.
  • Max supply: 100,000,000 GENE.
  • Circulating Supply: Updating...
  • Contract address: Updating...

KI Key Metrics

  • Name: Genopets.
  • Ticker: KI.
  • Token standard: SPL.
  • Token type: Utility.
  • Max supply: Updating...
  • Circulating Supply: Updating...
  • Contract address: Updating...

GENE Token Allocation

  • Community + Play-to-Earn: 33%
  • Private Sale: 32.5%
  • Team & Advisors: 25%
  • Ecosystem Fund: 8%
  • Public Sale: 1.5%
GENE Token Allocation.

GENE Token Sale

Genopets Token Sale is currently happening on both Impossble Finance and AcceleRaytor.

GENE Token Sale.

GENE Token Release Schedule

  • Private Sale: 1 year lock-up, linearly released over 1 year after.
  • Public Sale: Unlocked.
  • Ecosystem Fund: Linearly released over 4 years.
  • Team & Advisors: 1 year lock-up, linearly released over 3 years after.
  • Community + Play-to-earn: Linearly released over 5 years.
GENE Token Release Schedule.

GENE Token Use Cases

Currently, the GENE token serves both Governance and Utility purposes, which are:

  • Governance: Vote and decide on new in-game features such as items, gameplay, quests,...
  • VIP access: Gain priority access to new contents.
  • Stake: Users can stake GENE to receive KI.

How to get GENE and KI Token

Currently, you can get GENE through the Token Sale mentioned above. When the game is released, you can play it to earn KI.

How to buy GENE Token

Currently, there is no GENE circulating in the market, so you cannot buy GENE on Coin98 Exchange or anywhere else.

Coin98 Exchange is a decentralized exchange (DEX), a Multi-chain liquidity aggregator that offers users a wide variety of DeFi services (swap, stake, lend, borrow,...) through intuitive and simple interfaces.

In the future, when we are able to buy GENE on Coin98 Exchange, I will update you in this article.

How to store GENE Token

In the future, Coin98 Wallet will support storing the GENE token. I will keep you updated in this article.

Genopets Roadmap

Phase 1: Nurture, Evolve, Trade

  • Mint Genopets for free.
  • Earn XP and evolve Genopets.
  • Move-to-earn KI tokens daily as a Habitat owner.
  • Collect & Trade NFT in-game items.

Phase 2: Battle & Social

  • Battle via cognitive mini-games.
  • Leaderboards.
  • Social mechanics.

Phase 3: Enhanced Battle

  • Team PvP Battle.
  • Spectator Prediction Market.

Phase 4: Quest Mode

  • Story Mode.
  • PvE Quests.
  • Team PvE Quests.

Team, Investors and Partners

Team

  • Albert Chen.
  • Benjamin Tse.
  • Jay Chang.
Genopets Team.

Investors

Genopets raised more than $8.3M in the Seed Round, which was invested by various well-known venture capitals namely Pantera, Spartan, Alameda Research, CMS, GBV,...

Genopets investors.

Partners

Updating...

Is Genopets (GENE) a good investment?

I hope that with the aforementioned information, you have understood what Genopets is and how Genopets works. This article should give you a deep insight into the project, so there is no financial advice. You should Do Your Own Research before conducting any investment, and be responsible for your own fund.

However, Coin98 will provide some notable points of the project to give you the best overview to make your own decisions:

Genopets is a Move-to-earn game (an alternative version of Play-to-earn), which is at the moment a very trending sector on the market in general, and on Solana in particular. The next wave on Solana has been highly expected to head towards Gaming, so Genopets can possibly benefit from being a part of it.

To participate in a Move-to-earn game, you need to have a device that can track your real-life movements. At the moment, most smartphones have supported tracking these statistics, in addition to smartwatches that have prices starting from only $50. It can be clearly seen that it is not difficult to prepare before playing Genopets.

Genopets implements a dual token system, which is believed to be an efficient, deflationary, and long-lasting economics model. Additionally, Genopets has learnt from its predecessor - Axie Infinity, the most successful Play-to-earn game at the moment, so it has made some innovative complementations to the tokenomics, improving it further.

The idea of involving real-life activities in online games has made it less boring while more beneficial for users to participate in. Hence, the target audience of the project has reached outside the range of gamers only, to even more casual people, without much knowledge about gaming, can take part in the protocol to have fun and earn.

The token sales on both Impossible Finance and AcceleRaytor have the same price and allocation. A notable point is that the public sale tokens will not be unlocked, which means it will create a high sell pressure to the token right after those sale events. As a result, I highly recommend that if you have no intention of joining those launchpad sales, then you shouldn’t buy GENE on the market shortly afterwards.

Conclusion

You’ve been through an article about Genopets and the GENE token. I hope it has helped you in gaining more valuable insights into this project and understanding its potential.

If you want to know further about Genopets (GENE), please feel free to leave a comment below and join Coin98 Community for further discussions!

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Quang Phan

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