The Unofficial Etheremon Wiki
The popularity of the Ethereum blockchain has led to two main types of assets: coins, usually used to purchase stakes in companies, and crypto collectibles, unique digital assets that are often employed in games. The creators of Etheremon have blended these two types of assets to create an expansive game that can also be potentially lucrative. For more on other growing blockchain games, check out this guide to CryptoCities. This video was made with Ezvid Wikimaker.
Is Etheremon A Cryptocurrency?
The Mons within the game are ERC-721 tokens, which puts them in the realm of digital assets rather than a cryptocurrency for several reasons. First of all, the game doesn't have its own blockchain, instead relying on a smart contract on the Ethereum blockchain. Unlike ERC20 coins, which are fungible and can be traded on exchanges like ForkDelta, Mons are unique, meaning each one has its own value. This makes it closer to game collectibles like CryptoKitties and Ether Shrimp Farm or assets like Factbar and PoWH3D. What makes Etheremon different is that it also involves Emont, an ERC20 token that functions as an in-game currency, combining both standards for Ethereum smart contracts.
An Introduction To Etheremon
Can I Trade Mons For Money?
The Mons within Etheremon operate like any other crypto collectible. You'll first need some Ether, which you can buy at a site like Coinbase. Then, you can use a browser extension like MetaMask to connect to the site. Etheremon is different from many blockchain-based games in that there are some Mons available for free. After that, the game takes over, and you can train and develop your Mons until they have desirable attributes that aren't available in the game store. If your Mon has rare qualities, someone might purchase it from you, in which case you'll earn a profit. However, that depends on how many people play the game and the rarity of your tokens.
Etheremon's Battle Modes
Etheremon is a game built on the Ethereum blockchain that involves catching and training virtual "Mons." Players can buy and sell Mons to earn a profit, and their unique qualities make them valuable to those who play the game. As the project develops, it will involve both ERC20 and ERC721 tokens and will incorporate VR for a fully immersive gaming experience that also involves real transactions on the Ethereum blockchain.
If all that sounded a bit confusing, we're here to help. You probably noticed that the name Etheremon sounds suspiciously like Pokemon, the popular franchise where players breed virtual monsters that can do battle with one another. Etheremon is similar, but adds an extra layer as all transactions are done with cryptocurrency, and players actually own the virtual tokens they collect in the game.
Most people are familiar with Bitcoin, the popular cryptocurrency that employs blockchain technology. The use of a decentralized ledger provides proof of transactions without a central authority. Ethereum is another cryptocurrency that has become incredibly popular and useful thanks to a set of standards called ERC20.
Ethereum is another cryptocurrency that has become incredibly popular and useful thanks to a set of standards called ERC20.
Beyond Bitcoin and Ethereum, there are many different types of coins available. Often companies will issue an "I.C.O.," where they sell tokens that represent a stake in their company, or use those tokens as currency to participate in that company's business. You can use Ether to buy and sell these tokens.
Transactions on the blockchain are managed by "Smart contracts." ERC20 is a set of six functions that all these contracts need to have, regulations for contracts that operate on the Ethereum blockchain. Most digital wallets that support Ethereum will also support these other tokens, and ERC20 tokens can be traded on exchanges, or dapps.
ERC20 tokens are like Bitcoin and Ether in that they are fungible, meaning each one is the same. If you have two Bitcoins, and you plan to sell one, it doesn't matter which one you sell because they are worth the same amount. But some assets are unique, or non-fungible.
But some assets are unique, or non-fungible.
To handle unique assets, ERC721 was created. This is a standard for smart contracts dealing in digital assets that are not all the same. One popular example is Factbar, online representations of facts that are researched and verified so their owners can use the brand as a seal of approval online. If you own a Factbar, you are the only person who owns it at that time, and every Factbar has its own unique value. Highly-desirable Factbars are therefore worth a great deal.
The folks behind Etheremon have realized how these standards can be brought together in the world of gaming. Etheremon is, at first glance, a lot like Pokemon. You can purchase a Mon with Ether, then train it to improve its abilities. But since we're operating on the blockchain and an ERC721 contract, you really own your Mons. Each one is unique, and no one but you can own it unless you sell it to them.
Only Mons at level 1 can be purchased in the game store. For more evolved versions, players will need to buy them from you, so it's possible to earn a profit by training Mons. Some will also be able to lay eggs, which drains EXP but creates a new Mon, giving you in-game decisions to make.
Only Mons at level 1 can be purchased in the game store.
Some Mons are free to help you get started, and like in role-playing games, they have stats you need to manage. As the game expands, you'll be able to discover Mons in the Adventure Mode, and do battle with other players. The plan is to incorporate virtual reality so that players can have a fully immersive, fun game experience that takes advantage of the blockchain so your rare items are truly yours.
There will also be an in-game form of money known as Emont. You can mine Emont by playing the game, and there will be a limited amount in circulation. Just like with other video games, you can buy and sell things within the game. But since these are ERC20 tokens, they will act as a real in-game currency, and as more people play the game, those who got in early and mined Emont can see the value of their tokens rise.
Not all of these features are currently available, and the team has definitely made big promises for the future that they'll need to fulfill. For now, it's an interesting way to get in on the ground floor of a game with an expansive world. And the way Etheremon involves both unique and fungible tokens means that there is potentially real value to be had as well.