After selling a whole load of race car NFTs and garages, Riot Racers is now working towards the release of their RIOT token. They are planning to release RIOT in late September. But how will this token work, and how can players earn and use the RIOT token in Riot Racers? That’s what we will find out!
When gamers are playing Riot Racers, the RIOT token will function as an in-game currency. They will use it to obtain items, gain access to races, or special events. Players can level up their cars with all kinds of upgrades. Before each race they also need to make sure to buy gas at the gas station for which they need RIOT tokens.
It’s safe to say that there’s a plethora of options to spend your RIOT tokens, but did you know you can also earn these tokens? Part of the RIOT spent at gas stations will move into the rewards pool. The top 3 players of each race claims these RIOT rewards: the winner gets 50% and second and third will split the remaining rewards. These are the basics of how to earn RIOT tokens, and how to spend them as well.
RIOT is much more than a game currency
Using RIOT to play the game is just one of many ways gamers can make use of the token. Aside from buying, selling and winning, gamers can also use the RIOT token to stake and earn interest on their holdings. Furthermore, RIOT holders can participate in The Council of Racers, which is a governance system that votes on game fees, token distributions and other changes to the game’s ecosystem. The team designed it as an ERC-20 utility and governance token.
In total, RIOT token has a finite supply capped to 250 million tokens. There has not been a pre-sale for investors, meaning that gamers and the community will be among the first to get their hands on RIOT. They minted the ERC-20 token on the Ethereum network, before bridging the tokens to Polygon. The team will use 45% of the total supply for play-to-earn and game rewards, while using 25% as a reserve. The remaining 30% has been allocated to the team (20%), operations (5%) and player incentives (5%).
Obviously the team does not want the token to drop in value. That’s why they’ve created an ecosystem where the game and its activities create a natural demand for the RIOT token. Furthermore, the staking program will encourage players to hold their rewards instead of selling them. The team can increase and decrease game rewards to find a perfect balance, while future gaming features will create continued demand.
Read the Riot Racers whitepaper, or take a look at the official website.
RIOT token in a nutshell
- Use RIOT tokens to buy upgrades and other in-game assets
- Pay for gas, which allows racers to join a race
- The top 3 winners of each race take home RIOT tokens as a reward
- RIOT holders can stake their assets for passive income, or interest
- RIOT holders get to vote on governance topics in the Council of Racers
What is Riot Racers
Riot Racers is a play-to-earn racing game in which gamers can earn by playing the game or owning parts of the ecosystem. Players own cars, which they can upgrade using RIOT tokens. They earn RIOT by competing in races. Before joining a race, they need to pick a car and a strategy based on the race conditions. Gamers also need to visit a gas station to get some fuel, which serves as an entry fee.
The game generates the race in the background, so it offers passive gameplay. The outcome of a race gets determined primarily by the player’s race strategy and in addition by a weighted random algorithm. Cars with higher XP and better upgrades automatically have a better chance of winning. However, sometimes the underdog can come out on top. That’s what makes these types of racing game exciting. The top 3 of each competitive race earns rewards, paid in RIOT tokens.
Another way to earn in Riot Racers is by owning a part of the game, for example a mechanic shop, gas station or a piece of the track. The game offers 20 gas stations in total, and only 7 tracks made up out of 1400 parts. Through billboards, also an NFT, another earning opportunity presents itself. Here gamers can advertise their own product or perhaps rent it out to third parties.
Learn more about Riot Racers in our game guide and review here: playtoearn.online/games/riot-racers/
