The Token Economy Within Jeno Pet

If you listened to our episode on STEPN back in March, you’re probably familiar with the term “move-to-earn”. It’s a subset of play-and-earn and it’s gaining a lot of traction.

Put simply, these web3 games center around you doing physical activity in exchange for crypto-based rewards. STEPN has arguably been the category creator here and now boasts over 300,000 DAUs, but there are a lot of new projects entering the space that are building on the model.

Genopets is one of them.

It’s probably unfair to say they’re new to the space because this project has been in the works for several years, but what I love about it is how they blend together the nostalgia of a Tamagotchi game with a physical exercise game element.

If you have no idea what a Tamagotchi is, well, you obviously didn’t grow up through the 90s!

Actual gameplay to one side, the Genopets tokenomics are really interesting. They have both a completely free-to-play element that doesn’t require you to purchase an NFT initially, as well as a path that includes buying in-game assets.

I’ve been playing in the beta and have been enjoying it so far, and I believe they’re slated for a full launch in Q3 of this year. If you’ve enjoyed some of the recent episodes where we’ve been speaking with GameFi teams, this one’s going to be popular with you.

I talk with Albert Chen, the co-founder & CEO, as well as Kevin Kim, the COO, and we dig into all aspects of the gameplay, game economy, and what to expect from the future of the project.

• Genopets website.