Impossible Finance Research Report #22— Apeiron Research report

Context

Web 3 Gaming has been the biggest source of userbase for Crypto, accounting for 45.6% of all Crypto users (as of March 2023). It is no surprise for such staggering number since there are over 3 Billions gamers in the world. That means, for every 8 people in the world, there are 3 gamers. The potential of growth for Gaming is unmatched, and has widely been considered by many to be the key for Crypto Mass Adoption.

It has been almost 7 years since the birth of Crypto Kitties - the first ever Crypto Game, when the term “Web 3 Game” was introduced. But not the bull market 2021 fully emerged did the world truly experience the immense impact of the Web 3 Gaming. Axie Infinity burst onto the scene with their Play-to-earn economy in the middle of COVID-19 pandemic. The game not only transformed how games are played and monetized but also impacted various global narratives. Most noticably, the shift towards a digital economy along with the soar in crypto adoption was witnessed in countries that suffered from high unemployment rates like Phillipines or hyperinflation like Venezuela. Playing Web 3 Games became a promising new paradigm for many people in developing countries where income from playing games became a lucrative alternative.

Centered to the success of Web 3 Game in the past was the concept of Player Ownership leveraged by Blockchain Technology, an In-game Economy that rewards players and the sense of Community where together we can do better. Apeiron’s mission is to combine the long lasting values of Web3 Games with new technology and integration such as AI Driven In-game models and Intellectual Property development to make their game into an engaging entertainment experiences.

Project Overview

Introducing Apeiron, a Play-to-earn card-battling Roguelite x god game hybrid that aims to bring back the classic god gameplay where players can live, breathe planets that they can shape with elemental miracles, combined with the exciting strategy and story of a roleplaying action-adventure. Apeiron is created to be a universe owned and created by everyone, reshaping the link between players and developers through the power of crowdfunding and Play-to-earn gameplay. Apeiron’s migration to Ronin in late 2023 facilitate cheap in-game transactions as well as allowing Apeiron to join the likes of other successful play-to-earn games on Ronin such as Axie Infinity or Pixels.

Players are able to choose their own path within Apeiron, ensuring that players are able to play towards their strengths whilst still maintaining the ability and opportunity to earn as users are able to choose between a variety of different game modes:

1. PvP - Player vs Player competitive battles. Rank up, climb the ladder, and you could potentially join one of our esports events!
2. PvE - Player vs Environment roguelite dungeon. Battle the forces of Chaos, rescue the souls of brave dood Apostles, and find powerful Artifacts that change the way you play. There's always something to discover in the dungeon!
3. God-Game Simulation - Inspired by classic god games, in this mode you'll take control of a planet full of doods and use your divine powers to shape the world through incredible elemental Miracles.
4. GvG - Guild vs Guild Alliance gameplay. Join together with other godlings to take on the most challenging forces in the godiverse!

Apeiron Planets

Planets are your key to play Apeiron, essentially functioning as a player's license to play. Players  either get a non-transferable seed planet to try the game for FREE or they may purchase any Planet available on the marketplace. Every planet is made up of a combination of unique traits and attributes split between the four elements. Planets come at different rarities, where the rarer Planets will have higher chances of getting rare traits and elemental distributions.

Planets have the following utilities:

Playing Apeiron: You need a Planet to start playing Apeiron! This includes both Player vs Environment god simulation and roguelite gameplay as well as competitive Player vs Player esports. It all starts with owning a Planet!

Renting: You can rent out your extra Planets to other players and start to accrue passive rents through their gameplay.

Breeding: If you have two Planets you can use them to breed a third, which you can then use for more Planet breeding and so on to continue to expand your NFT portfolio.

Expeditions: You can stake your unused Planets on a Nebula Expedition, which will give you a chance to earn valuable NFT rewards.

Apeiron Stars

Stars are similar to the “Lands” in other NFT games. Stars have the following utilities:

Planet Aging: Stars age your Planets faster. Older Planets, more Relic slots. More Relic slots, more Relics to power up your Planets!

Renting: Stars come with multiple Orbital Tracks to support aging many Planets at once. Rent out your unused Tracks and start collecting passive rents.

Alliance Play: Stars are the building blocks of a powerful Alliance. Not only do they allow your Alliance to support more members, but they also offer additional passive gameplay bonuses.

Apostle NFTs

Apostle are in-game characters that will join your Avatar in battle and add their skills to your Combat Deck. Apostle will drop randomly as you make your way through the dungeon and their stats are determined by an Apostle's Individual Variable (IV). IVs can range from 1-100. The higher the IV, the better the Apostle’s stats - everything from health to attack to defense. However, Apostle can be lost during dungeons and in order to keep them safe, players put them into Reserve Slots, starting with 1 slot per player. Then, at the end of the season, you’ll be able to mint your high IV Dood Apostle from the Reserve Slot, making it into an NFT which is yours to keep! The number of slots and mints can increase by completing in-game quests or being an asset holder.

Project Highlights

Apeiron migrated to Sky Mavis’s Ronin Chain in December 2023 through a strategic partnership that aims to bring a wealth of experience and outstanding technical expertise the game.

“By leveraging the strengths of both Apeiron and Sky Mavis's Ronin chain, we aim to accelerate the evolution of web3 gaming characterized by engaging gameplay and nurturing a passionate community at its core. This alliance is not simply an intersection of technical strengths, but a collaborative journey towards achieving a shared vision of an immersive, fun-filled gaming experience grounded in our mutual commitment to the community. Drawing from Sky Mavis's strengths and Apeiron's innovative spirit, we envision a compelling web3 gaming universe where every interaction is a testament to this notable partnership.”

Apeiron has garnered over US$15.5 Million thus far from notable venture funds and global industry partners including Hashed, Morningstar Ventures, DeFiance Capital, Spartan Group, DeFi Capital, GuildFi, AvocadoDAO, Acient8, Leo Crypto Ventures, YGG SEA, Snackclub, Infinity Ventures Crypto, Polemos, Play It Forward, Ranker DAO among others.

Since the migration to Ronin Chain, the on-chain metrics of Apeiron have increased drastically. Currently, the game has almost 30k Unique active wallets with, 22k Daily active users, 74k unique asset holders and a community of almost 150k followers on Twitter. Of all wallets interacting with Apeiron, over 50% are Everyday Users and 32% are Power Users showing the genuine interest of the community to the game.

Investment Thesis

Kicking off the Ronin flying wheel

Apeiron is the first official game on Ronin Launchpad in collaboration with Impossible Finance. For more details about our collaboration, please visit this article. Inheriting the massive player base of the Ronin Ecosystem and riding on the success of Ronin Games such as Axie Infinity and Pixel, Apeiron is prone to be the next big Ronin game with familiar play-to-earn mechanics with a distinctive gameplay, yet similar to popular genres that the exisiting player base of Ronin Chain have experienced. The onboarding process for existing players is minimal with the FREE Planets. The option to purchase game assets for an inclusive experience seen in the gameplay of both Axie Infinity and Pixel also can attract power users and seasonal veterans.

Well-thought out player evolution for a diversed experience with multiple avenues for users to earn

Apeiron has developed a complete system of gameplay where any type of user can gain the same opportunity to earn monetary rewards whilst still being heavily connected to one another to ensure the gaming experience within Apeiron. With four different game modes and multiple routes of gameplay to choose from, the journey within the Apeiron universe are not siloed into a repetitive circle, slowly alleviating the “fun” aspect of a game but rather being connected and reliant on one another. Seasonal gameplay with the introduction of the Battlepass system also progressively increases the game content and nurtures the metaverse experience of playing Apeiron.

Implementation of autonomous agents and AI to the game

God game, the genre of Apeiron PvE gameplay has been synonymous with the unique interaction between players and the environment. Players who play gods in the game do not have a direct influence on the characters in the game through micromanagement but rather influence Doods and Apostles through casting supernatural powers. This particular genre is the perfect environment for machine learning and training NPC behaviors which will be reflected in the gameplay of Doods and Apostles with an extra dimension of interactions that is reflective on both in-game and on-chain user actions. Furthermore, the team plan to train their own model to utilize IP assets, using AI image and asset generation to leapfrog development and provide more content for the game.

Team

The team behind Apeiron is Foonie Magnus - a Singapore-based studio founded in 2021 by a group of game developers united around one idea – that games can change how we see the world. Today, they’re building two gaming franchisees: Acid Rain World and Aperion.

Frank Cheng - CO-FOUNDER AND LOREKEEPER, BUSINESS

Entrepreneur and crypto investor, with extensive private equity investment and fundraising experience. Avid gamer.

Gem Ng - CO-FOUNDER AND CRYPTO GAME ARCHITECT AND PRODUCER, PRODUCT

Multidisciplinary producer, and entrepreneur of 200+ developer companies on mobile app and game development studio. Previous chief software architect from Measurable Data Token and Measurable AI.

Orange See - CO-FOUNDER AND LOREMASTER, OPERATIONS

Onchain analysis expert, and executive producer who shipped over 40 titles. Experienced and knowledgeable in every phase of game development, branding, licensing, and business model transformation.

Ben Horn - Loreworm

Creative Writing; Ph.D. in Game Studies, Creator of the Questing Model for Narrative Game Analysis Lvl 9999 Dungeon Master

Felix Chu - ART DIRECTOR, CONCEPT AND DESIGN

Cinematic director of Acid Rain World Gray Dawn, animation director of Rayark games, full stack end-to-end animation producer.

Shadow Wong - CHIEF ENVIRONMENT ARTIST AND 3D GENERALIST, 3D ART

Founder of Stunga Lab, director of two original short films: 21 and The Rigger, 7 years of development experience on over 10 Mobile and VR Titles, pioneer of intuition animations.

Chris Wong - TECHNICAL ART DIRECTOR, EFFECTS ENGINEERING

Game art director for Acid Rain World Gray Dawn, full stack indie game developer.

APRS Token Metrics

• Total Token Supply: 1,000,000,000 APRS
• Tokens Allocated to Impossible Launchpad: 110,000 USD/1,000,000 APRS (split into two pools)
• Standard pool: 55,000 USD
• Unlimited pool: 55,000 USD
• 20% distributed on Day 1, 2 months cliff, remaining 80% distributed on 18 months later
• Public Sale Token Price: $0.11 USD
• TGE Date: Late March

Risk Evaluation

The strategic move from Polygon to Ronin by Apeiron's game and smart contracts initially introduced notable uncertainties regarding the safety of user assets and the smoothness of the transition. However, Apeiron effectively navigated these challenges by enlisting auditors to oversee the migration process. Notably, all smart contracts migrated to Ronin underwent comprehensive audits conducted by Beosin, ensuring a secure and seamless transition for users. Additionally, user traction in the form of stickiness of existing users during the migration posed another risk. Apeiron strategically capitalized on Ronin's established presence in the gaming market and ecosystem, resulting in significant growth in daily active users, unique wallet holders, and traction across various social media platforms since the migration. This successful transition underscores Apeiron's commitment to user safety and its ability to capitalize on emerging opportunities within the decentralized gaming sector.

About Apeiron

Apeiron is the world’s first god game x roguelite x battle arena. Rule over planets full of adorable doods, dive into dangerous dungeons, and battle against other players using powerful Avatars. As a newborn god, will you walk the path of good…or evil? Determine the fate of the godiverse in this epic new adventure. Download and play now for free on the Epic Games Store.

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About Impossible Finance

Impossible Finance is the go-to crypto investment platform that empowers you with high-quality, fair and accessible crypto opportunities. We simplify DeFi so you can enjoy fairer investing, cheaper trading and better yields through our accelerator, launchpad, and swap platform.

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