Space Misfits Bringing Game Currency into Crypto

Space Misfits crypto station screenshot

The space adventure game Space Misfits already features NFTs, and will now transfer its in-game currency BITS into a crypto asset. In addition the SMC token will become a governance token. Jade Stems Studios, the company behind Space Misfits, announced these plans in a blog post.

Right now BITS exist only on the game’s servers. They had the plans to let players covert their BITS into SMC, and then cash out on a crypto exchange. However, the developers of Space Misfits this required a complex development process. It made a lot more sense to move the entire economy on-chain.

BITS will now become an ERC-20 token with utility within the game’s ecosystem. The token will exist in the Enjin ecosystem and of course on Enjin’s Jumpnet. Players will need BITS for all kinds of in-game purchases and trading. On the other end of the spectrum, there will be SMC. This will become the governance token for Space Misfits, which players can use for staking, voting and it will play a role in the game economy for Habitats.

Bringing an in-game currency from centralized servers to crypto is not an easy thing for the Space Misfits team. However, technically players could already jump into the game to earn BITS and SMC. However, right now not all these tokens are on-chain yet. The Space Misfits development team will need to update their whitepaper and roadmap. They expect to present to full scope of their tokenomics on October or November.

What is Space Mistfits?

Space Misfits is a 3D space sandbox MMO. Players can hunt, collect and mine for items and resources with real-world value. Gamers are free to decide on the role they which to have in the game’s economy. They can become a space pirate, a trader or miner!

In this game players can explore the universe, gather resources, build ship components, command starships and battle other players. All these elements create an open in-game economy on the Enjin blockchain. As a result players can trade items with real value within the game itself.

Space Station Tokens are one of the most valued item in Space Misfits. This ERC-1155 token provides a true play-to-earn model inside the game. Gamers who own the Space Stations earn tokens from each transaction that happens inside these space stations. Players who own these tokens cannot simply sit back and collect. They must perform actions inside the station.

This sandbox game doesn’t have a story, but only provides a setting. Players will for example have to deal with corporate greed, space pirates taking down valuable loads or other players hunting each other. These elements provide enough story, one that’s different for every player in the game’s universe.

Robert Hoogendoorn avatar
Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he's a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He's a content manager and creator at heart, started the Play to Earn Online Magazine in early 2020.