"One token models or two token models have been a hot topic in the design of economic systems or tokenomics for crypto games - which I personally prefer to call "crypto games" rather than "web3 games," as the latter term does not really describe the characteristics of the games - for a while now. A tweet suggesting a model called "no token model" for web3 games ('1 token model? 2 token model? How about a no token model for web3 games!') got me thinking about how a traditional game designer might interpret a no token model, and in fact it seems to be closer to what is called a multi-utility token model."
Personally, after Axie Infinity, I thought it was fine to just create two tokens directly linked to the blockchain for game projects and use them as utility tokens and governance tokens respectively. This approach has already had successful cases in the market, so there was no need to think deeply about it. However, now is the time to think deeply about it. It is not a matter of how many tokens to link to the game, but fundamentally, we must consider whether it is necessary to directly link tokens to the blockchain in the game itself.
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Here, we propose the No-Token model. The No-Token model is a system in which there is no currency that is integrated into the blockchain that is applied to the game. It is similar to the economic system of traditional games that has been described earlier, in which diamonds, gold, and resources are circulated within the game and resources are issued through exchange with legal tender outside of the game. Diamonds can be exchanged for gold and resources, and gold can also be exchanged for resources, but the opposite direction of exchange is restricted. Here, we propose the composition of legal tender - referred to as off-chain currency - and NFT resources that can be used on the blockchain that is integrated into the game.In English:
The game can still control the economy through the issuance and burning of in-game currency. When designing an economic system that directly uses tokens linked to the blockchain in the game, the challenge is to make the in-game economic system work smoothly, even in situations where transactions on the blockchain, which the game cannot control, have a direct impact on the game. It may be theoretically possible, but it is likely to easily break down in practice. Therefore, if tokens linked to the blockchain are made to enter the game through a one-way exchange stage like that between legal tender and diamonds, it will be possible to apply the same method of designing economic systems for traditional games, using the economic system design know-how accumulated over the past 20 years. From the perspective of traditional games, this is not a problem, but the player's and investor's preferences are not divided at the token level, so the possibility of play for the purpose of obtaining tokens or short-term decision-making for profit is reduced.
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