TL;DR

Yuga Labs has launched a game named HV-MTL Forge, combining pet breeding and social competition elements, aimed at enhancing user participation in the NFT gaming market.

The game’s first season saw a decline in player enthusiasm and a reduction in APE consumption. During this season, a total of approximately 241,765 APE tokens were consumed, equivalent to $520,000.

The second season introduced new elements and adjusted the reward mechanism. However, these changes do not seem to have significantly increased the APE recharge volume.

If the APE recharge volume remains consistent with the first season, it is estimated that the total recharge of APE will reach about 1,440,000 tokens in six seasons. This only accounts for about 0.27% of the total circulating supply and is unlikely to have a significant impact on overall circulation, especially when the recharged tokens might be sold.

Despite the continuous drop in APE token prices, it does not appear to be a favorable investment at the moment. However, Yuga Labs’ high standards are reflected in the quality of the game, showing potential for future improvements and success.

Preface

HV-MTL Forge, launched by Yuga Labs, is a game that lies between pet raising and a leisure world, positioning itself as a creative, social, and competitive production game for HV-MTL NFT holders. As a Web3 company focused on NFTs, Yuga Labs integrates HV-MTL Forge into its product lineup, further expanding its influence in the NFT gaming market.

Pet raising games and social competitive games have always been popular among a wide range of players. With the launch of HV-MTL Forge, Yuga Labs aims to attract more users to participate and foster the game’s development through creative, social interactions, and competitive elements among NFT holders. Such a strategy could help enhance Yuga Labs’ position in the NFT gaming market and increase community engagement.

The main joy and task of the game is to create a forge and make your HV happy and efficient (HV is the “pet” you need to raise in the game). You need to build and decorate your forge to win community votes, aiming to garner the most votes for your HV and forge. The more forge votes you receive, the greater the rewards.

The game is divided into 6 seasons, each lasting 3 weeks. The first season has ended, and the second season has begun. The game content is not extensive, but given Yuga’s strategic layout in the metaverse, there is anticipation for better deliveries in the upcoming seasons. Below, we will dissect the game and analyze the business situation of the first season. Finally, we will provide a game guide.

HV-MTL Game Season 1 Operations and Season 2 Updates

To track the game, we created a dashboard that evaluates the game’s operational situation through several dimensions of data, including the minting, holding, and trading of NFTs, as well as the number of APE recharges in the game. Based on the data from the dashboard, we will analyze the operational situation of the first season. Following that, we will summarize the updates for the second season.

NFT-related Information

Minting Situation:

Regarding the minting of HV-MTL NFTs, there is a total of 30,000, with 28,056 already minted and 1,955 remaining un-minted.

HV-MTL serves as the Pass Card to enter this game. The minting process involves burning a SewerPass and minting an HV-MTL NFT based on the ranking in Dookey Dash. Dookey Dash is a casual game launched by Yuga before HV-MTL and is an important part of the Yuga gaming ecosystem.

Any SewerPass with a rank can mint HV at any time. According to the official announcement from Bored Ape on Twitter, those who cannot mint HV, meaning those with Rank=0, number 789.

At this point, we can calculate that 23,752 (burned Sewer Pass) + 3,515 (un-minted Sewer Pass) + 789 (Rank=0) = 28,056, exactly matching the number of HV minted.

NFT Holding Situation:

The total number of holding addresses is 9,752, with 6,222 addresses holding only 1 NFT. The address holding the most NFTs is Yuga’s multisig wallet address, which holds 4,295 NFTs (sourced from un-minted and Rank=0 Sewer Passes).

Apart from Yuga, the single address with the most holdings has 383 NFTs. The top 100 holders cumulatively hold 33.28% of the total NFTs, indicating a not-too-high concentration of chips. Only 12 out of the top 100 holders have made recharges.

NFT Trading Data:

The overall trend shows a gradual decrease in floor price, with a significant increase in transaction volume either upon major announcements or within a few days after the game’s launch. During other periods, the trading volume is not optimistic.

APE Consumption in Games

In the first few days after the game’s launch, the number of daily deposit addresses and the total daily deposit amount surged, showing a declining trend thereafter. The number of daily deposit addresses peaked on the third day with 531 addresses, while the daily deposit amount peaked on the second day with 24,436 APE.

We can observe that player enthusiasm reached a peak when the game was just launched, but it has been diminishing since then. This suggests that the game mechanics and gameplay of the first season may not be sufficiently attractive to players, or many players are not yet accustomed to Yuga’s extended development playstyle.

Among the top 100 depositing players, the highest depositor contributed 8,893 APE, approximately $20,000 USD, the second-highest deposited 6,235 APE, and the third-highest 4,537 APE. This indicates that the leading players are significantly invested in the game, demonstrating its strong monetization capability.

Main Updates for Season 2 (S2):

1. The theme for S2 is “Wet Hot Forge Summer,” featuring new tiles and decorations. Players can transform their forge into a summer beach, as shown in the promotional image for the second season.

1. Adjustments have been made to the AMP levels determined by rankings, with specific data available in the above diagram illustrating the relationship between rankings and AMP levels. The Legendary level remains at 133, with changes in other levels to better accommodate players who join later in the game.

2. New benefits for BAYC, MAYC, BAKC holders have been introduced, allowing them to claim corresponding decorations for free later in S2.

1. The gameplay and voting mechanisms remain unchanged.

APE Investment Decision Analysis

From an investment perspective, the total supply of APE tokens is 1,000,000,000, with a circulation of 368,593,750. The primary source of inflation for APE at present comes from the release of staking reward tokens, which will release 100,000,000 APE, 10% of the total supply, within the first year. Therefore, it is evident that APE still has significant inflationary pressure.

In Yuga’s previous game, Dookey Dash, it is observed that APE tokens recharged by users were eventually transferred to Coinbase by Yuga, suggesting a potential for selling pressure on the market.

Although there has not been any transfer activity from the APE collection wallet for the HV-MTL game, it can be inferred that these recharged APEs are likely to be dumped by the project onto the secondary market eventually.

It is also noted from the text that the update content for Season 2 (S2) wasn’t substantial, merely changing the thematic style, which did not significantly promote APE token recharge. Assuming each season maintains the recharge volume of the first season, approximately 240,000 APE, the total recharge by players over 6 seasons would be around 1,440,000 APE. Given that 6 seasons equate to 4 months, by the beginning of November 2023, the circulating supply of APE would be approximately 560M. The recharge amount then only constitutes about 0.27% of the circulating supply, having minimal impact, especially considering these tokens might be sold.

Since the land sale for Otherside, the token price has continued to decline. The market expected Yuga’s in-game strategies to absorb the selling pressure generated by staking, but as seen from the historical events of the APE token, aside from a short-term price spike following the Dookey Dash trailer release and during the initial phase of the game’s operation, the price of APE has been falling. Neither the anticipation phase nor the official launch of HV-MTL could meet the market’s expectations to consume the staking selling pressure.

Although the game is of certain quality, its demand for APE tokens is minimal, with no actions taken to burn the recharged APE, ultimately likely adding to the market’s selling pressure. Therefore, it is believed that APE is currently not an attractive investment, pending further empowerment from Yuga for APE.

Summary and Outlook

The first season results of HV-MTL are not optimistic, mainly due to external market dynamics, especially the current NFT environment. The limited application of $APE in the game may have also led to difficulties in attracting and retaining players.

From the floor price and transaction data on Dune Dashboards, it is evident that the incentives provided to early participants were not attractive enough to spur mass adoption. Enhancing the application of $APE in the game could help increase its value, boost market visibility, and create more excitement around the game.

Despite facing challenges, the high quality of the game, reflected in its materials and meticulous details, showcases Yuga Labs’ high standards.

Looking forward, we anticipate that Yuga Labs will expand the application of $APE in the game and improve the game’s mechanics to attract more users. Considering Yuga’s superior operational capabilities and the potential for game improvements, HV-MTL remains a promising project. Therefore, we will closely follow the progress of this captivating game.

Appendix

Game Deconstruction Section

First, let’s deconstruct the game. Game deconstruction will cover the objectives of the game, game resources, and gameplay mechanics. Let’s take a look together.

Game Objectives:

The primary objective and task of the game is to acquire AMPs and unlock the next evolution of your HV. AMPs are rewards you earn by taking care of your HV and receiving votes. Each player participating in the game receives an AMP at the end of each season, and you must have at least 3 AMPs to unlock the next evolution of your HV.

(On the left is your initial HV, which evolves through three AMPs)

There are five rarity levels of AMP: Common, Uncommon, Rare, Epic, and Legendary. The rarity of the AMP you receive depends on your leaderboard ranking at the end of the season, which in turn is determined by the votes you receive in each daily leaderboard. Here are the AMP levels you can receive based on your ranking in seasons S1 and S2-S6.

(Note: Initially, AMPs are attached to your HV’s save data, i.e., off-chain, not in your wallet. When you decide to evolve your HV, the AMPs will be moved on-chain and burned)

In short, daily votes determine the daily leaderboard, and the daily leaderboard rankings determine your points and ranking on the season leaderboard.

Game Resources:

The core resources in the game are Energy and Geers. As shown below, the energy symbol is on the top left, and the gears symbol is on the top right.

Gameplay:

Gameplay includes building and upgrading tiles and decorations, activating/upgrading/using/repairing portals, and managing your HV’s mood and energy.

1. Purchase an HV-MTL NFT from the NFT marketplace. The HV-MTL NFT collection consists of HVs from 30 different professions. Your HV allows you to play this game and participate in future games related to the Forge. When you enter the game, the basic appearance of your forge depends on the rarity/profession of your HV.

Additionally, the game starts with a special reward pack, with each HV profession having a unique starter pack that offers an early advantage. Therefore, choosing your HV NFT from the beginning is important, as you need to decide which starter pack you need and, most importantly, what basic style you want for your forge.

Of course, HVs of different rarities/professions have different prices in the secondary market. The rarer the HV, the more generous the starter pack and, consequently, the higher the price. Choose based on demand.

1. After purchasing the NFT, click this link https://hv-mtl.com to enter the official game website, connect your wallet holding the NFT to sign and start the game.
   

1. Upon entering the game, you will first see your forging space (each HV profession has a different forging space appearance, here is just an example) and a forge with an “X”. The forge is your tool for generating tiles and decorations.

Click the red button labeled “PUSH” next to it, and the forge will work and generate a random tile or decoration. Each forging is free, and if you don’t like the item forged, you can click “PUSH” again for another forging.

Tiles can be placed anywhere in your forging space, and the first thing you should do is use the tiles to connect your forge to your portal (the dark green object at the top of the picture) and activate your portal.

1. As mentioned, each forging is free, meaning it does not consume energy, but placing the forged tiles or decorations requires energy.

Each HV receives a reward pack at the start, which includes your initial energy. You can use this initial energy to complete your initial tile placement and connect the portal. After connecting the portal, the basic construction of your forge is complete, and you can now start decorating and optimizing your forge to get community votes. This is the basic gameplay process and strategy. Let’s talk more about the game mechanics.

Strategy:

1. Energy Acquisition Mechanism: The tiles and decorations you build will consume energy, which is also the core mechanism of the game - the voting mechanism. For more details on energy acquisition and consumption, see the deconstruction section, but here is a brief explanation.

The most common way to acquire energy is through HVs generating it on the tiles you build, similar to a nurturing game. You can still acquire energy even when AFK or the game is closed.

1. The maximum energy you can acquire depends on the level of your portal. The average level of your tiles determines the upgrade level of your portal. If you have 10 tiles, you must upgrade all 10 tiles to level 2 or higher before your portal can be upgraded to level 2.

So, besides connecting the portal and decorating your forge to make it more attractive, avoid placing unnecessary tiles.

1. Community voting is essential to win, acquire AMPs, and meet your HV’s upgrade requirements. Voting requires energy, and obtaining more votes is the ultimate goal of the game.

The core of getting more votes is the attractiveness of your forge and your activity level in the game community. You can share your forge link on social media and actively engage in the community, decorating your forge to gain recognition from other players and earn more votes.

Regarding voting, note the following:

You can vote only after opening the first portal.

The energy cost of each vote increases, so make careful decisions.

Each HV can vote once per day, and only HV holders can vote.

When you vote, you also receive a small reward.

Different rarities of HVs can receive different numbers of votes; the higher the rarity, the more votes you can receive.

Gameplay Summary

The voting mechanism is the core of the game, mainly determined by your level of community participation and activity, followed by the attractiveness of your forge.

To get more votes, players in the community typically exchange votes, making the rarity of your HV and the number of votes you hold very important.

Additionally, you can create interesting content about the game to attract other players’ attention in the community, thus campaigning for votes. While actively participating in the community, ensure your forge’s attractiveness to avoid being voted down, as this is the basis for receiving votes.

However, to exchange votes and maintain your forge’s attractiveness, the energy mechanism comes into play again. The energy consumed for voting and upgrading your tiles increases over time, making the game more resource-intensive as you progress.

If you play the game casually, just pay attention to your maximum energy acquisition limit (i.e., portal level). Your HV will also generate energy by moving on tiles when you’re AFK. If you aim for a higher ranking on the leaderboard, you can recharge to accelerate all energy acquisition methods mentioned in the game deconstruction.

The voting mechanism provides players a way to express their opinions and interact, discuss strategies, and share with other players through social media and community involvement. It strengthens social connections among players, forming an active game community where everyone feels their importance and influence in the game.

Therefore, the voting mechanism is not just a decision-making tool within the game but also a significant driver of social interaction and player engagement.

First Season HV-MTL Community Fun Events Recap:

1. @apecoiner’s boxing match with a cow

1. Original animation created by @RidazLP for HV

Disclaimer：

1. This article is reprinted from [Gryphsis Academy], All copyrights belong to the original author [@EdisonHuu]. If there are objections to this reprint, please contact the Gate Learn team, and they will handle it promptly.
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