ASTRONIZE
Overview
ASTRONIZE is a joint venture between a game publisher with more than 21 years in the business and a Thai cryptocurrency exchange, built around PNE (Play-to-Earn). Listing a coin on an exchange in Thailand means going through an ICO portal process: you file a white paper and other documents and wait for SEC approval. ASTRONIZE is working toward letting listed coins trade through that route. For context, 69 coins exist in Thailand, and only one of them has been listed through the ICO portal process so far.
Thailand officially has nine exchanges, but Bitkub holds 95 percent of the market, which puts it in a position similar to Upbit in Korea. A user inside Thailand can only cash out or run marketing through an ICO; IEO and IDO are not available. Skip the ICO and you can still list the coin on an exchange in another country, but you cannot offer cash-out to Thai users.
Service structure
ASTRONIZE and WEMIX are built almost the same way. On both platforms, in-game resources swap into a game coin, and the game coin then exchanges into a governance coin (AST).
The difference is that ASTRONIZE can launch locally, so it can run a limited service in specific regions only. It can also act as the game publisher, which means token issuance and management are supported on the ASTRONIZE side. WEMIX only plays the game provider role: once a game is onboarded, WEMIX does not handle what comes next, such as token economy design, customer support, or marketing. That is the biggest difference between the two.
So ASTRONIZE has room to start in Southeast Asia and expand from there, launching new titles alongside game publishers and pulling in more users that way.
Service model
The traditional game model has a known failure point: when the reward pool runs dry, the game’s life ends. It is also known as the pay-to-win structure. ASTRONIZE instead supports a hybrid GameFi structure that can outlive the traditional PNE model, because it generates additional revenue from play itself. Exchanging an in-game token for a game token requires another in-game resource, which is often bought with cash. This structure was applied successfully to the Yulgang mobile game, which produces steadier revenue than the same game without it. A separate operations and publishing team also watches inflation and related factors. Game resources convert into game tokens through ASTRO BEAM, and a centralized wallet converts those into the governance token (AST).
How revenue is calculated
Licenses, MG, and royalties are settled in a fixed currency. Revenue consists of game tokens earned by minting and selling NFTs, game tokens generated when game tokens are converted into in-game resources, and game tokens generated by trades or rentals on the marketplace. Spending covers game tokens handed to users as rewards or event prizes and airdrops given away for free. Royalty sharing refers to revenue minus spending.
Game tokens
Game token terms are negotiable with the developer. Typically 5 percent goes to the company that built the game, distributed at a set rate over 3 years, because the service contract itself runs for 3 years.
Where the governance token (AST) is used
The governance token (AST) is planned for staking, NFT purchases, fees, and DAO participation. Since game tokens are pegged to AST, the direction that token takes matters. Total circulation will be managed under Thai SEC regulation, and a vesting period follows the ICO. A market listing is planned for the first quarter of 2023.
Expected development time to apply it to a game
Once a game has launched, stabilized, and built up an audience that is playing regularly, the first update usually lands within three months. That varies by title, though, and how quickly updates follow launch depends on the developer’s policy and circumstances.
FAQ
1. How big is PNE in the Southeast Asian market?
Demand for PNE in Southeast Asia keeps rising. Thailand and Indonesia in particular have had a growing game industry for years, along with steady demand for game coins. PNE is popular in those markets, and the PNE market there is expected to grow further.
2. What about legal issues?
The Thai government is currently tightening cryptocurrency regulation, and an ICO requires an accurate white paper and a documented process. There was also an announcement that new rules would arrive at the end of 2022.
ASTRONIZE therefore has to follow Thai regulation strictly. Coins approved by the Thai government are expected to earn more trust from users.
3. Can it launch in some regions only?
Yes. It does not have to launch worldwide. The developer recommends targeting Southeast Asia as a whole, but a launch limited to certain regions is possible using separate servers for that region. In that case the game token can be separated, and a different token may carry the same name.
4. What makes the Thai market attractive?
An important design principle is keeping the ratio of free users, earning users, and players steady, because that ratio ties directly to the revenue model. Some parts of a game, for instance, require buying in-game resources with cash. Users who spend cash to gain an advantage inside the game are the earning users.
Thailand was chosen because its game market is large. It is also considered a good fit for holding that design principle. Keeping the ratio steady can be harder elsewhere, so the focus is on Thailand for now.
5. What are the prices of the game token and AST?
Both move. Tools are provided for tracking the price. The price of the game token used when exchanging in-app resources moves as well. The fee for exchanging game tokens is 10% of the game token price, so it moves along with that price.
6. Is there a separate exchange for game tokens?
Game tokens can be swapped into AST, and AST trades through the exchange app. The base currency will be the Thai baht. No separate exchange for trading game tokens directly is provided.
7. Which blockchain network does it use?
The Bitkub network uses proof of stake (PoS), currently mixing Proof of Authority (PoA) with Proof of Stake plus Proof of Authority (PoSA). It is set to move to PoS later. The Bitkub network is described as stable and dependable. AST will be minted first as an Ethereum token, with other coins supported later through a bridge.
Reference terms
ICO, IEO, and IDO describe ways of issuing and listing a cryptocurrency.
ICO (Initial Coin Offering): the project team sells the coin it plans to issue in advance, then lists it on a cryptocurrency exchange.IEO (Initial Exchange Offering): instead of the project team issuing and listing the coin itself, the exchange acts as an intermediary and sells to investors.IDO (Initial Dex Offering): the coin is sold on a decentralized exchange (Dex), where buyers purchase directly on the exchange without an intermediary.