Bitcoin
$3,302.04
-131.28
Ethereum
$86.16
-4.37
Litecoin
$23.40
-0.71
DigitalCash
$61.25
-3.54
Monero
$42.78
-0.6
Nxt
$0.03
0
Ethereum Classic
$3.80
-0.12
Dogecoin
$0.00
-0

Hedgie: This Cryptocollectible Pays You For Playing

Hedgie is a cryptocollectible game where the players actually make crypto while they play. The crypto that they earn can then be spent on in-game upgrades or on real-world products and services. It is the first cryptocollectible on the Ethereum network that you can buy with a credit card. In this article, we will look into what Hedgie is and its many features which makes it pretty unique. We will also look into the “cryptocollectible gaming” genre as a whole and see the potential in this space.

Cryptokitties and Collectibles

On December 4 2017, the entire crypto community read one of the strangest headlines ever:

Yup, that’s right.

Looks like kittens somehow managed to let go of their eternal quest for the red dot and have somehow managed to clog up the Ethereum blockchain. Cryptokitties is a blockchain-based virtual game which allows players to adopt, raise, and trade virtual cats. The game was made by Vancouver based blockchain company Axiom Zen.

All that aside, did you know that cryptokitties also happens to be the first known Dapp that was created purely for leisure and recreation. Cryptokitties was also the first Dapp that reached proper mainstream recognition. The sales of cryptokitties went through the roof.

People have spent more than twelve million dollars buying these cryptokitties. There are even reports of people who have made more money trading cyptokitties than investing in their IRA! However, turns out that there is too much of a good thing.

Turns out that the popularity of the kitties went so out of hand, that at one point it was the third most gas hungry smart contract in Ethereum.

In fact there is another graph that we want you to look at:

The graph above shows the number of pending transaction in the Ethereum blockchain thanks to cryptokitties. In fact, it was so bad that Axiom was eventually forced to increase the birthing fees of the kitties. In a statement they said:

“The excitement and adoption we’ve seen this week has been overwhelming and we couldn’t be happier! However, the Ethereum network is completely full. The only way to keep CryptoKitties from lagging is to increase the gas prices so that all transactions can complete quickly. We know that increased prices will mean that some of you will need to slow down your breeding regimen, and we are incredibly disappointed by that. But who knows? Maybe this slowdown will just mean that you’ll love the Kitties you already have that much more”

The entire cryptokitties episode taught us to very important lessons:

  • The Ethereum blockchain just isn’t scalable enough yet for large scale decentralized applications
  • People are ready to invest their time and money in crypto collectibles which are fascinating enough.

On that note, let’s expand on the second point.

ERC-721 and ERC-20

Ethereum burst into the scene by giving us access to creating Dapps and smart contracts.

According to their website, “Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.”

So, to put it simply, Ethereum is going to become a decentralized super-computer wherein anyone, anywhere can rent out some computational power and create decentralized applications (Dapps) which can run on top of the Ethereum platform.

Dapps are powered by Smart contracts which are automated contracts. Smart contracts are going to be self-executing with specific instructions written on its code which get executed when certain conditions are made.

However, there was an obstacle that needed to be overcome.

In the early day of the ICOs, every single project was simply trying to re-invent the wheel instead of actually building a project with real utility. Think of it like this. There are several car companies competing against each other. but instead of building better cars, they were simply focussing on creating the wheels and headlights from scratch.

Not only was this an extremely redundant process, but there was also another serious problem that was happening directly as a result of this.

Interoperability between the different applications on top of Ethereum is extremely important. However, these “re-invented” tokens had different structures and hence weren’t able to connect with each other. This could have been pretty much a death knell to scalability. Imagine that there are thousands of different tokens with thousands of different contract structures. In order to make them work with each other, developers will have to go through all these tokens by creating a common interface which would require humongous amounts of complex calculations.

A solution was needed and it came on November 19, 2015. Fabian Vogelsteller came up with an ingenious solution. The solution was the ERC-20 universal token standard which gave these smart contracts a blueprint to follow. According to Wikipedia, ERC20 is a “list of rules that an Ethereum token has to implement, giving developers the ability to program how new tokens will function within the Ethereum ecosystem. The ERC-20 token standard became popular with crowdfunding companies working on initial coin offering (ICO) cases due to the simplicity of deployment, together with its potential for interoperability with other Ethereum token standards.”

Basically, ERC20 is a guide of rules and regulations that will help create a blueprint for Ethereum-based smart contracts to create their tokens. The “ERC” stands for to Ethereum Request for Comment, while the number ’20’ is the number assigned to this request.

Let’s look into what builds the foundations of ERC20:

  • totalSupply
  • balanceOf
  • transfer
  • transferFrom
  • approve
  • allowance

Now, these are the rules and functions that the ERC20 tokens must mandatorily have. However, they can also have the following 3 optional characteristics.

  • Token Name
  • Symbol
  • Decimal (up to 18)

ERC-20 tokens are responsible for token standards of all the ICOs out there. However, since they are mainly used as a payment system, ERC-20 tokens must also have another feature….fungibility.

What is Fungibility?

Lack of fungibility is a big problem that cryptocurrencies need to solve.

According to Investopedia, “Fungibility is a good or asset’s interchangeability with other individual goods or assets of the same type.”

Ok, so how do you define what is fungible and what is non-fungible? Let’s

So, what is fungible and what is non-fungible.

If you borrow 100 USD from your friend, and you return them another 100 dollar note, then it is perfectly fine. In fact, you can give my friend 2 50 dollar notes or even 10, 10 dollar notes. It will be perfectly fine because dollars (or paper currencies in general) are, for the most part, fungible.

On the other hand, what about… a collectible material?

Eg. Suppose for some reason you took your friend’s Chinese jade vase for a day? Now, what will happen if, when you have to return it, you give her back some other chinese vase? Worst yet, what if instead of giving back the vase, you give back the vase in smaller pieces?

In any case, you will be lucky if your friend doesn’t eviscerate you.

Why is that the case?

Because unlike currency, these collectibles happen to be non-fungible. Quite like currency, these collectibles have a value and people recognize that they have value. However, the way fungibility ties up into both of these things is completely different.

  • More fungible your currency is, the more value it will show. In fact, fungibility shows that the currency has been widely accepted and hence receives value.
  • The collectible, on the other hand, gets its value from how unique it is. An ancient vase which is one of a kind will be a lot more valuable than a vase which has lookalikes everywhere.

And, this is where we segue into the ERC-721 tokens and the things that make it unique.

ERC-721

The ERC-721 token standard helps create non-fungible tokens. In many ways, it is pretty similar to ERC-20 in functionality. In a large part, ERC-721 have pretty much the same functions as ERC-20. This was done by design to:

  • Make life easier for developers so that they don’t have to learn anything new from scratch
  • Make it easier for users to store them in ordinary wallets and trade them on exchanges.

Having said that, each and every ERC-721 token is unique and the way this is done is by capturing the ownership of that particular token. This is why takeOwnership functions are required.

ERC-721 Functions

The functions that define the ERC-721 standards are as following: The standard defines the functions name, symbol, totalSupply, balanceOf, ownerOf, approve, takeOwnership, transfer, tokenOfOwnerByIndex, and tokenMetadata. It also defines two events: Transfer and Approval.

The contract is defined like this:

contract ERC721 {
// ERC20 compatible functions
function name() constant returns (string name);
function symbol() constant returns (string symbol);
function totalSupply() constant returns (uint256 totalSupply);
function balanceOf(address _owner) constant returns (uint balance);
// Functions that define ownership
function ownerOf(uint256 _tokenId) constant returns (address owner);
function approve(address _to, uint256 _tokenId);
function takeOwnership(uint256 _tokenId);
function transfer(address _to, uint256 _tokenId);
function tokenOfOwnerByIndex(address _owner, uint256 _index) constant returns (uint tokenId);
// Token metadata
function tokenMetadata(uint256 _tokenId) constant returns (string infoUrl);
// Events
event Transfer(address indexed _from, address indexed _to, uint256 _tokenId);
event Approval(address indexed _owner, address indexed _approved, uint256 _tokenId);
}

Ownership and Creation of ERC-721

The two particular areas where ERC-721 tokens shows their unique quality is ownership and creation. Let’s look into both these areas and how both ERC-20 and ERC-721 measures up to it.

Token Ownership

When you buy ERC-20 tokens, your rights of ownership will be written in the smart contracts. The smart contract also has data of how much tokens each and every address will have after the deal…and that’s it. The thing is that these contracts don’t need to worry about specific tokens because they are fungible, so they are all the same.

However, the value of one ERC-721 token is not the same as another ERC-721 token because of its non-fungibility. Adding an address and balance to the contract won’t be enough, a token’s unique ownership details also need to be added.

Token Creation

Token Creation in ERC-20 tokens is about the balance of tokens. So, all that you need to do is to set an upper limit and make sure that people cannot create more tokens than the upper limit. When compared to that, ERC-721 token creation is much more complicated. The ERC-721 standard maintains an array of tokens and each and every single token is added to the array separately.

Hedgie – The ERC-721 Cryptocollectible

Hedgie is a cryptocollectible blockchain-based game, announced on Tuesday its presale launch. By playing the game, users can generate Curio coins that can be eventually spent on real-world products and services. Curio is an ERC-20 token that can be earned by playing the game.

Hedgie product lead Stas Zlobinski says:

“Games have used virtual currency for decades, and gamers are known to adopt new technology before others. With blockchain seeing high adoption in gaming, it made sense for us to take this next step and extend the value of the in-game coin to the outside world.

We want to attract casual gamers who are curious about cryptocurrency. It’s a simple but compelling idea: play the game, earn coin, spend it in-game or on real-world products and services. On the business side, it’s a way for business owners to dip their toes in crypto to the degree that they’re comfortable with while promoting their business to the newly emerging class of crypto-consumers.”

Hedgie has been designed to be as accessible as possible. It is for people who are curious about cryptocurrency and cryptocollectibles but are not sure of how to get started. Basically, anybody can work with Hedgie without knowing anything about virtual currencies.

There are exactly 16,777,216 Hedgies in existence, each tied to a unique 6-digit hex code.

Hedgie is currently accepting purchases for the private Alpha version of the Hedgie Game. Players will be able to journey with their Hedgies to collect Curio coins, which they will be able to spend on real-world goods and services starting Summer 2019.

The Legend of Hedgies

The Hedgie team have given their adorable creatures a pretty interesting backstory. Hedgies are legendary creatures and skilled explorers with a storied past. Let’s do a brief overview of our hedgies.

Hundreds of years ago, a meteor crashed into Curiopia, depositing a rare mineral known as Hexium into the soil. Ever since then, every Hedgie that has grown up on Curopian soil has radiated a different hex color. This color makes a Hedgie completely unique. They lived a very happy life until The Curiosity struck. The Curiosity was a struck in the form of an elemental anomaly of cosmic proportions that rippled across space and time.

After The Curiosity settled, the Hedgies emerged but they lost all their precious homes, valuables, and Curio. So, to rebuild their civilization, the Hedgies only had one place to go. Determined, they dug deep into the wreckage of their kingdoms to recover what was lost, searching for answers, collecting any and all treasures of old that they could find.

When asked about the inspiration behind the Hedgies, the team said:

“The idea for the character was an inspiration from our Russian childhood’s iconic cartoon, Hedgehog in the Fog. In this cartoon, a kindhearted, charming hedgehog is journeying through the fog to visit his friend, bear, and on his journey, it encounters different challenges and adventures. We wanted our character to be unique and limited, and we wanted to make it fun and easy for people to get into the crypto world. We looked at CryptoKitties and other games on the market, and we saw that there are several important obstacles that prevent mass adoption. We wanted to build a game that will remove the entry barriers and attract curious bystanders to join the crypto world.”

Make Your Own Hedgie

Firstly, you need to go to hedgie.io.

After that you need to click on “Get a Hedgie”. You will be taken to this screen.

You can slide the color scheme which will give your Hedgie a unique code and a unique set of powers and skills. Each Hedgie has four elemental powers (Water, Fire, Earth, and Air) and skills (Luck, Prudence, Intelligence, and Charm).

A Hedgie’s unique combination of powers and skills determines its performance in the Hedgie Game, a free-to-play, real-time strategy blockchain game. The game’s private Alpha version is set to launch by end of 2018, followed by the public Beta release in early 2019.

When you are done customizing, you can go ahead and buy your Hedgie. Want to look at our hedgie?

What can we say? We are Slytherins….with middling intelligence and low charm 🙁 .

The hedgie’s color combination is going to reflect on their powers. For example, our hedgie is bluish-green in color. The blue color shows that we have an affinity for the “Water” power and are highly skilled in “prudence”.

A Hedgie’s power alignment with each of these eight power centers determines its performance in the four-game worlds.  Speaking of which.

The Four Worlds

Players will be able to journey with their Hedgies through four distinct kingdoms: the Wetlands, the Desert, the Forest, and the Mountains.

On these journeys, Hedgies will discover loot and tools to boost in-game performance, unlock power-ups and collect Curio coins (ERC-20 tokens). A hedgie’s power affiliations will best show in which world they can thrive.

For example, a Hedgie with high Earth power will perform best in the Forest world, while a Hedgie with a high firepower will excel in the Desert. Some Hedgies are extremely powerful in one world but weak in others, while other Hedgies are more balanced.

The gameplay is very straightforward.

You can make your own custom-made adventures. You can select your Hedgie, customize their destination, time duration, and objectives, and send them off on their adventure. After that, you are free to do as you please while your Hedgie goes about its journey.

Whenever your Hedgie returns, you will be getting a notification and can view your profile page to see what loot your Hedgie has returned with. You can either:

  • Exchange the loot for coin
  • Add it to your collection
  • Have your hedgie consume edible look for a small boost
  • If they have gathered a full collection of any type of item, they can consume it for an even larger boost.

The Tokens In The Ecosystem

There are 2 types of tokens in the platform:

  • The Hedgies which are ERC-721 tokens
  • Curio which is an ERC-20 token which can only be mined by a player inside the game

The curio token will be earned by interactions in the game. You can use Curio to buy gear to purchase that increases your Hedgie’s performance permanently for as long as you keep it. Also, the players who earn Curio to sell it to new players who want to buy new tools to boost their hedgie’s performance.

One can trade Curio in an exchange and it has a hard cap of 8,888,888,888 and can only be earned by players inside the Hedgie game.

The HCT Token

HCT or the Hedgie Community Token (ERC-20) which was released during the presale and launch phase. People can buy Hedgie for fiat, ETH, or HCT. One can redeem their HCT for Hedgies, or sell it on an exchange All HCT that the Hedgie team gets back from Hedgie purchases will be burned completely, without any of it going back into the circulation.

Real-World Value Of Hedgies

From the summer of 2019, Hedgie owners will be able to spend their Curio on real-world goods and services, both online and at brick and mortar businesses. A pretty interesting example of this is Improve Canada, Canada’s largest home improvement center with 350+ retail vendors under one roof. Hedgie owners will have access to exclusive discounts at many of these businesses.

Oleg Chekhter, co-owner of Improve Inc. that operates the center, says: “We’ve started Improve Canada to bring retail innovation to Canadian consumers, and we’re excited to support the technology of the future in whatever way we can.”

Future Barriers For Hedgies

When asked to identify some potential future obstacles, the Hedgies team said,

“One barrier is many of the huge online companies taking an adversarial stance against crypto projects. Facebook, Google, now Twitter. Banks banning crypto purchases is another one. I think there is still also a degree of caution that many people have due to scams or projects that failed to deliver on their promises, or failed half way through for legal and other reasons. Despite these, we’re very optimistic of the crypto games’ future. We think this year will be a year of innovation in the space, and our goal is to accelerate the reach and adoption by a wider audience.

We believe there are a lot of people who’ve heard about blockchain and cryptocurrencies, and perhaps even tried to get into the game, but gave up due to several key barriers. Our focus is on removing these obstacles and making it easy for people to join in. One example is difficulty of purchasing cryptocurrency in order to join games. Players also need to pay in crypto in order to play and advance in games, not so with Hedgie. Another obstacle is complexity and degree of technical savvy that turns a lot of people off. Our mission is to make it simple, accessible and risk-free, and attract all these curious bystanders into the crypto world.”

Conclusion

Hedgies has the potential to create one of the most interesting cryptocollectibles out there. It can potentially explode the same way cryptokitties exploded and bring in a host of new users into the crypto ecosystem. All this is speculation for now, but they have the team and expertise required to pull this off.

 

 

Leave A Reply

Your email address will not be published.