Makemake: Web3 Based Metaverse Casino Gaming Platform
The gambling industry is one of the oldest and most profitable industries in existence today. Unfortunately, in the real world, the gambling industry faces a ton of obstacles that hinder it from operating freely.
Some of these obstacles include; increased regulation, lack of privacy, expensive licenses, & gameplay restriction. Makemake proposes introducing a virtual casino gaming metaverse where players can enjoy complete freedom and privacy, while businesses can run casinos with complete autonomy.
However, before we can go into the nitty-gritty of everything, let’s first take a deep-dive into Makemake.
What is Makemake?
Makemake is the first Web3 based metaverse casino gaming platform that rewards its users for participation. Its unique name, Makemake, has its origins in the Rapa Nui mythology. According to the Rapa Nui, Makemake is the god of human creation & reproduction.
The Makemake platform combines a series of elements such as P2E (play to earn), NFTs, DeFi, and Casino gaming in the Metaverse. The aim is to create a transparent, precise, and fairer Web 3.0 gaming platform.
Players on the platform can utilize a free to play mechanism to earn monetary rewards while investors can become stakeholders or even operate their own casino realm in the metaverse.
Features of Makemake
Some of the major features of the MK2 platform include:
Automated MK2 Dealer (AMD)
AMD (Automated MK2 Dealer) is a mechanism that provides liquidity on the Makemake platform. It allows you to directly become a casino liquidity provider & an immediate stakeholder.
The DeFi (Decentralized Finance) boom has enabled the creation of various protocols such as Compound and Uniswap. These protocols have enjoyed massive growth and adoption giving way to the rise of DEXs. These DEXs have in turn enabled users to become LPs (liquidity providers).
Unfortunately, one of the pain-points of being an LP is the risk of impermanent loss. A large majority of LPs are afraid of going mainstream thanks to the wild volatility of the crypto market. The Makemake platform is seeking to change these dynamics by allowing money from gaming to be allocated to LP providers. In turn, making them stakeholders.
There are two kinds of rewards that you can earn on the MK2 platform;
- Gaming earning: You earn game rewards in the form of MK2 tokens for participating in games. You can utilize BUSD or any other stable crypto to participate in any preferred casino game.
- Invitation Reward: As a Genesis NFT holder or a casino operator, you can recruit new members to the platform. Through the use of invitation codes, players can earn affiliate commission on a daily basis. Furthermore, you earn 1% of the profits from anyone you invite onto the platform. The invitation link also never expires.
- Betting Rewards: Simply pick a game, place a bet, and win. You will obviously be paid in the form of tokens.
Games within the MK2 metaverse will include sports betting and blockchain-based casino games such as blackjack, keno, football, basketball, slots, roulette, BTC price prediction, among others. MK2 will regularly hold game competitions, bonus prize pools, tournaments, etc. to increase traffic to the platform.
To play games on MK2, you will need to:
- Make a deposit on the platform. You can make a deposit using PayPal, crypto wallet, or a credit card.
- Encash for chips
- Visit the games lobby and join any game that you like
- Wager and earn rewards
- Exchange chips into crypto or fiat currency
MK2 intends to release a collection of NFTs dubbed “realm NFTs.” This collection will contain 3,888 Genesis NFTs. These NFTs will help any holder govern the MK2 game sub-universe. By becoming an NFT holder, you can independently own an online casino as well.
Token and Utility
MK2, otherwise known as the Makemake token, is the utility token that underpins the whole Makemake ecosystem. It runs on the Binance Smart Chain (BEP20). The total supply of MK2 tokens is 2.1 billion. You can check out token distribution on their official website.
Some of the utilities that can be derived from MK2 include:
- Governance: Users will need to be MK2 holders to participate in the community governance poll.
- MK2 tokens will be necessary to create a user’s MK2 profile and mint NFTs. NFTs can only be purchased with MK2 tokens.
- Staking: Users can stake BUSD in an AMD pool to receive rewards under the MK2 smart contract. Rewards are given in BUSD and MK2 tokens.
- 30% of the protocol revenue is to be utilized to buy back & burn MK2 tokens.
The Makemake roadmap is outlined as follows:
Q1 2022: MK2 Project Approval
- The formation of POC
- Talent acquisition, planning, and execution
- Formal initiation & task assignment
Q2 2022: Design
- Official design & development
- Official game design & development
- Review & amendments
Q3 2022: Platform Development & NFT Release
- Formal initiation of building MK2
- Community launch, official website, and a game test
- Promoting the recruitment of brand ambassadors & Beta test net
- A whitelist campaign followed by the pre-sale of tokens
Q4 2022: Platform Launching
- Launch of the desktop version
- Completion of audit reports
- Initiating game modules
- Launch of the AMD mechanism
- Launch of the 3D metaverse realm
Q1 2023: Cross Chain
- Inter-protocol collaborations
- Launch of mobile APP
Q2 2023: Blockchain L1 Deployment
- Development of the MK2’s L1 blockchain. The MK2 will be the official utility token for the L1 blockchain. All on-chain transactions will require MK2 tokens as gas fees.
Can the Makemake project simulate a fully functional multiverse casino free from real world obstacles? Only time will tell. In the meantime, if you’d love to know more about Makemake, feel free to check them out through the following channels: