A 6-fold rise in a single month, a quick look at the gameplay mechanics of the Web3 shooter Sipher

Written by 1912212.eth, Foresight News

Recently, the momentum of the Web 3 gaming sector has begun to heat up, and the token prices of StepN and TreasureDAO, which have been dormant before, are quite strong. The price of SIPHER, the Sipher Odyssey token, which was only raised at the end of the last bull market, soared 6 times in just one month, which is very impressive.

In October of this year, Alex Svanevik, founder of blockchain data analytics platform Nansen, talked about Web3 games and said that in the next 6 months, the game will be released after more than 2 years of development. Although the full majority here will fail, a few may achieve great success, and SIPHER Odyssey is one of them.

It’s time to get to know this Web3 shooter.

I. Gameplay

Sipher Odyssey is a Web3 shooter RPG with a relatively simple story. Set in a fantasy universe filled with alien worlds, vivid characters, and dangerous mysteries, embark on a virtual universe lore created by god-like artificial intelligence, where humanity’s future is reborn and must fight to explore and protect their new home.

Players can choose to use different weapons in a variety of game modes to win by shooting enemies or completing mission missions. The game’s map design is unique, including a variety of different environments and scenarios, such as Kroll Island, the Himalayas, apocalyptic construction, abandoned cities, desert treasure islands, and more. Each map has multiple stealthy gunfight points, different covers, and other things that can help players perform at their best.

The gameplay includes PvP, PvE, open-world metaverse, and more. Players need to maneuver the hero to move flexibly, dodge traps and enemy attacks, and defeat enemies.

In the PvE dungeon mode, players collect characters and use them to go on adventures, fight hostile creatures and robots, clear dungeons within a set time, and players can improve their strength by crafting and upgrading equipment, unlocking new heroes, completing faction quests, and more, as they progress through the story and explore the Siphers universe.

In PvP mode, players will form a squad of 3 people, control the character to fight with other players, the gameplay is similar to Hero Smash Bros., kill enemies and survive within the specified time, players can learn new skills, unlock new characters, weapons, classes, etc., and earn rewards such as tokens by winning battles and completing weekly/monthly/quarterly tournaments. Players can also join gangs and guilds, recruit powerful members to fight for you, and more.

The open-world metaverse includes social, gear forging, NFT cloning, and more, and players can earn economic gains by trading these on-chain assets on the game marketplace. At the same time, the project team also encourages players to build their own communities in this open world and form their own communities, and plans to open up in the future to allow players to obtain token rewards through live broadcasts of players’ games and fan rewards.

Siphers Character NFT

NFTs come in different rarities, including normal, infected, cybermechanized, and cosmic traits. It is worth mentioning that holding NFTs can also unlock reading Sipher comic content.

Sipherian Surge (Sipher Inu Race)

The character NFTs were designed with Shiba Inu as the design image, with a total of 10,000 pieces and a starting price of 0.1 eth, and all of them were sold out in less than 15 minutes at the time. The floor price has now recovered to 0.08 ETH, a 96% monthly increase. The historical total trading volume is 6512ETH, and the trading volume in the past month is 12.08E, a monthly increase of 184%.

Sipherian Flash (Sipher Neko Race)

The character is designed with a cat as the design image, and the NFT floor price is now 0.0448E, a monthly decrease of 0.44%. The historical total trading volume is over 1500E, and the trading volume in the past month is 5.17E, a monthly increase of 76%.

II. Investment Background and Economic Model

Both of Sipher Odyssey’s investments occurred at the end of the last bull cycle, with Sipher closing a $6.8 million funding round on October 26, 2021, led by Arrington Capital, Hashed, and Konvoy Ventures. Defiance Capital、Signum Capital、 Dragonfly Capital、CMT Digital、BitKraft Ventures、Delphi Digital、Alameda Research、Fenbushi Capital、Sfermion、Hyperchain、GBV、Kyber Network、Coin98 Ventures, YGG, and Merit Circle participated. Angel investors include Kabam founder Holly Liu, Nansen CEO Alex Svanevik, and others.

Just a month later, Sipher announced a public offering of 1 billion tokens. Adopting a dual-token model, the governance token $SIPHER $ATHER with the in-game token, and the economic model forms a loop through “fighting→ obtaining resources→ leveling up→ trading → fighting”, and using the game trading market to trade will also reduce gas fees.

At the same time, the official also announced that a total of $44 million (99,501,314 ETH) was raised, with 13,159 investors participating, and the unit price of the $SIPHER token was 0.00024 ETH, but the cost of a single token was $0.984 based on the comparison price of about $4,100 in the ETH at that time, so although the price of the currency has increased more than six times in the past month, the price of the currency is still about 70% lower than the public sale price at the time of writing.

Token distribution is as follows:

30.4% will be allocated to game incentives and marketing, locked for one month, and then unlocked by time and demand;

25% is allocated to the team and their advisors, locked for 16 months, followed by linear vesting over 24 months;

14% is allocated to the Foundation and Reserves, locked for 30 months, followed by linear vesting over 24 months;

11.3% for seed fundraising, 16 months cliff, followed by linear vesting over 18 months;

10% for listing and liquidity rewards, 15% unlocked at TGE, and the remainder unlocked linearly over 11 months;

5% for strategic rounds, 16 months cliff, followed by linear vesting over 18 months;

4% for public sale, 100% for TGE;

0.3% for promotion and cooperation, 3 months cliff, then linear vesting over 12 months;

SIPHER tokens can be used for staking, cloning new characters, crafting new rare gear, enjoying a share of market platform fees, and having the right to vote on future decisions made by the game development team. ATHER is also a reward token that can be used to level up characters, skills, equipment, and other in-game items through a burn mechanic, and can also be used to pay for cloning.

There is a dedicated staking page at the entrance of the Sipher official website, which is convenient for easy staking, and the longer the lock-up time, the higher the corresponding share and rewards. As of press time, the total value of pledged tokens has exceeded $2.7 million.

III. Team Members

The founder, Tin Nguyen, is a well-known entrepreneur in Vietnam, one of the few serial entrepreneurs, a former Forbes Vietnam top 30 list, a graduate of the University of Melbourne, and founded Dreamplex in 2015 to provide collaborative workspaces and social spaces. In May 2021, he founded Sipher Odyssey across industries. As of now, his personal X account has 12,000 followers, while Sipher’s X account has more than 100,000 followers.

At present, there are more than 160 team members, mainly in Ho Chi Minh City, Da Nang and Hanoi, and international members in the United States, Europe, Singapore, the Philippines, Puerto Rico and Indonesia.

Not long ago, SIPHER announced that it would jointly build a virtual video arcade with Metacade, and the future development is worth waiting for at a time when Web3 games as a whole are picking up.