An In-Depth View of Monsterra

Michail Palierakis

Jan. 13, 2023

Investment Highlights

Before diving deeper into the game, let’s review some key highlights of Monsterra:

  • You can start playing and earning with no initial investment.
  • The game does not compromise fun for earning.
  • Monsterra’s token $MSTR has successfully sold out its private sale and IDOs, raising more than $2M.
  • You can stake $MSTR and NFTs in reward pools for in-game rewards, shared revenue, and reduced gas fees for in-game activities.
  • Large VCs have invested in Monsterra, including Shima Capital, Salad Ventures, Icetea Labs, Huobi Ventures & Hashed.
  • Launched in August the game has reached 300K players and 25,000 daily active users

What is Monsterra?

Play-to-earn (P2E) games have repeatedly demonstrated their power to revolutionize the global gaming industry since their birth. The introduction of blockchain games heralds a new exciting age in which gaming enthusiasts play more critical roles in the gaming economy – they own all digital in-game assets which allow them to earn rewards.

Inspired by this phenomenon, Monsterra has steadily climbed the player rankings since its launch on August 25th. The game features both free-to-play and free-to-earn mechanics, which will allow you to have fun and profit with no initial investment. The pet world of Axie Infinity and the gameplay of Clash of Clans inspired Monsterra. 

Some key highlights of Monsterra that set the game apart from other play-to-earn games:

  • The special breeding mechanism
  • Unique and highly customizable land shaping
  • Gameplay for fun with strategies created by players’ creativity
  • Battle modes include PvE & PVP, clan modes, and mini-games
  • Multi-chain & multi-device platform
  • Various utilities for both NFT and tokens
  • Innovative token & NFT staking allows players to use their assets while staking them to maximize benefits
  • Token anti-inflation mechanisms

Tech / Infrastructure

Monsterra is live on BNB Chain, Avalanche and OKX. However, the game is available to play with a Google account without limiting the gameplay. You will need a wallet to start trading in the marketplace, stake, and claim rewards. 

History

Monsterra held its private funding round on December 2021, which sold out all of the available 13M tokens ($0.12 each), raising $1.56M. The team held numerous IDOs on August 2022 on platforms such as Red Kite, Poolz, and GameFi, to prepare for the mainnet launch on August 25th. $MSTR also made its first appearance in the market through PancakeSwap and MEXC. On September 22nd, the Battle Front mode made its appearance, the game’s main PVP feature.

Management Team

Mr. Tuan Le / Founder. Tuan is a serial entrepreneur with a track record of completing large-scale initiatives. After a few years at FPT Software, Vietnam’s most significant IT business, he started and served as CEO and Chairman of SotaTek, an IT consulting and development firm with 600 employees that serves customers worldwide. He is a founding member of some of Vietnam’s IT giants such as Ekoios and IceTea Labs (PolkaFoundry/Red Kite/GameFi.org), as well as the CEO of SotaNext Corporation, an IT firm that specializes in blockchain consulting and development services.

Victor Thang / Project Owner. Victor has 15 years of expertise in creating gaming products. He previously earned third place in FPT’s Mobilabs 2008 competition for the mobile application and has held a variety of critical responsibilities at all of the firms he has worked for, ranging from Team Code Leader to Project Manager and Product Manager. As the PO of Monsterra NFT Game, he has assembled a strong game development team, from artwork to engineering and smart contracts, intending to make Monsterra a revolutionary game for 2022.

Brian Trinh / Head of Game Operation. Brian, as a strategic roleplayer, oversaw the whole operation and testing of Casual, SLG, and MMORPG games on both PC and mobile platforms at some of Vietnam’s largest gaming firms including VTC Intecom, ABI Game Studio, VALOFE, and others. Additionally, he has over 3 years of expertise in community operations and event planning, ranging from private VIPs to large gaming communities.

Iris Le / CMO. Iris is a growth hacking pro with a proven track record as a Marketing Manager & Consultant in e-Commerce, Blockchain, NFTs, and Gaming. Her broad range of knowledge includes project management, community building, social media promotion, partnership growth, and growth-hacking tactics. Working in an international environment (Europe, Singapore, and Vietnam) exposed her to a variety of languages and cultures, allowing her to hone her communication and marketing abilities on a global level. Iris has enabled several firms to reach 300% growth on social media, increased collaboration with many trusted partners, and successfully fundraised in seed and private rounds over her years of hard work to bring important community benefits.

Investors 

The following VCs have invested in Monsterra:

  • Hashed
  • Huobi Ventures
  • Shima Capital
  • Salad Ventures 
  • IceTea Labs (GameFi, Red Kite, PolkaFoundry)
  • Avstar Capital
  • Kyros Ventures
  • OneMax Capital
  • Alpha Moon Capital
  • AZer Capital

Capital raised includes over $2M during the private round and around $300K in their last IDO on the 16th of August.

User / Social Stats

Monsterra’s user base includes both free-to-play and play-to-earn players. Speaking with the community managers, most of the game’s activity happens off-chain, and most players have not connected a web3 wallet to their gaming account. This means that many users are playing the game for fun. 

Monsterra User stats

Based on the user numbers the Monsterra’s developer team provided to us, the game has had a total of 300K gamers, 30K daily average users, and 6.6K concurrent users. A total of 50M matches have been played.

Market Stats / Tokenomics

The game employs a novel dual-token approach with two distinct tokens: $MSTR and $MAG, to ensure the in-game ecosystem’s survival and scalability.

$MSTR

$MSTR is the governance token which is capped at 100M $MSTR. All of the ecosystem’s products and services will require $MSTR. 

  • $MSTR is the in-game currency for transactions (such as purchasing lands) or advanced in-game activities.
  • Users stake $MSTR in the staking pools in exchange for gaming awards and incentives from the shared revenue stream.
  • To participate in the Governance structure of the Monsterra NFT game’s decentralized organization (DAO), players must own and stake $MSTR. Contributors will also be rewarded for their contributions to Monsterra’s long-term growth.
  • The burning mechanism will be deployed every month.
  • The total game revenue will be divided into 3 main streams and allocated to the Development Fund, Shared revenue incentive to the community in the DAO Treasury, and Token Burning. The burnt tokens will be announced on the 16th-18th of every month along with the transaction hash.

Monsterra tokenomics
Source

$MSTR is a BEP-20 token on the Binance Smart Chain. Its current price sits at $0.148 and down 38% in the last three months. Currently, only 4.7M of the total 100M coins are in circulation.

$MAG

Monsterra’s $MAG token is used for all in-game actions. $MAG’s max supply is unbounded, but its supply is regulated by an advanced in-game burning process.

You can gain $MAG by completing quests and participating in various gaming activities.

After each month, if the quantity of $MAG staked on the DAO is less than the amount specified in the staking contract, the excess tokens will be burnt. Additionally, at the end of each week, if the amount of $MAG staked on the DAO is more than the amount specified in the staking contract, $MAG will be minted to sustain the user’s token withdrawal process.

The $MAG token is down 45% over the past three months. The circulating supply is currently 7.85M (self-reported). 

DeFi

Staking: The Monsterra Ecosystem offers several staking pools with attractive ROI rates to maximize the interests of Monsterra players and $MSTR holders. Staking gaming NFTs to these pools is also available.

Governance: Token holders will be able to propose ideas for Monsterra’s future operations and improvements and then vote on each proposal.

Trading: Traders can use their tokens to purchase, store, or undertake any trading activity through exchanges such as PancakeSwap, MEXC, and Bitmart.

Yield Farming: Monsterra provides yield-earning options to investors through liquidity pools and liquidity mining, as well as unique prizes wrapped in gaming NFTs.

Game Mechanics

Mongens

Mongens are the primary characters in Monsterra. You can use them for farming, battling (attack and defense), and breeding. Each Mongen has a unique rarity (Common, Uncommon, Rare, Epic, Legendary) and different stats (Health, Sturdiness, Magic, Aggression).

Mongens require food to Level-up.  As such, each Mongen has an Evolution Level that limits the level cap a Mongen can reach. For example an Evolution Level 1 Mongen can only reach Level 10, while an Evolution Level 2 Mongen may reach Level 20. Leveling up your Mongen improves its statistics. Evolution items are needed to reach a higher Evolution Level. Evolution Items can be earned by completing the daily quests.

Every Mongen has two skills, a basic and an ultimate. Whenever a Mongen uses a basic skill, it gains energy to charge its ultimate, which is used automatically.

To receive a new Mongen, you will need to incubate a Soulcore (egg). Each Soulcore is part of a different rarity and will hatch a Mongen of the same rarity.

Each Mongen is accompanied by its related troops, smaller creatures that will assist your Mongen during battle.

Land

Land is created by combining numerous Plots, where you manage your Mongens and build your ground. Each Land has a fixed number of Land Plots (Based Land Plots) and a development value restriction.

A Plot is a land area on the Monsterra world. Each Plot depicts a different aspect of the environment. The game has eight distinct types of plots:

  • Landcore: The land’s core is its emblem. It stands for development limitation. Players can improve their exploitation capabilities by upgrading the land core plot.
  • Habitat: Before they can do anything, all Mongens require a place to live.
  • Breeding Den: A place for Mongen to mate with other Monngens to make Soulcore.
  • Hatchery: Your Soulcore will hatch here, giving birth to a Mongen.
  • Farm: Mongen’s working farm where he grows food.
  • Food Storage: Determines how much food the island can keep.
  • Training Ground: This plot is where you offer troop training duties to your Mongen. Trained troops will remain in the barracks and will be employed in future raid engagements.
  • Watchtower, Military Camp & Turret: This is where you can assign a Mongen to assist in defending your territory.
  • Landmine: A deadly trap to catch your enemies off guard.
  • Decoration: This plot can increase the statistics of surrounding Land Plot NFTs.

Battle

You will need to defend your land against other players that will seek to invade your territory to loot your food and $MAG. You can do this by building defensive structures and assigning your Mongens to Plots such as Watchtowers.

For attacking, there are 4 different Battle Modes:

Adventure Mode: Players lead their Mongen troops as they explore new regions in search of resources. Players raid enemy territories by employing tactical methods and leadership abilities to extract the most riches from the earth.

Boss Challenge Mode: If you win against a Boss, the occupied area becomes yours, and your region expands proportionately. This Mode is unlocked when you reach Level 10.

Battlefront Mode: In this mode, you raid a Land owned by another player with a chance to steal resources such as food. If you lose, you lose resources as well.

Arena Mode: Players lead their Mongens against other players to win rewards. This mode is still under development.

ROI Scenarios

Staking

You can find staking options for Monsterra’s tokens $MAG and $MSTR with appealing rates. Staking these tokens also provides gameplay benefits as you can utilize staked tokens in-game. The current APR for staking $MSTR is 137% and for staking $MAG is 69%. A third reward type is also available, the shared revenue incentive, which you can earn $MSTR based on the total game’s revenue.

Battle Front

The Battle Front mode is a fighting mode where you fight against other players and climb the ranking leaderboard. You will need the Premium Battle Pass (which costs 300 $MSTR) and reach Level 11 to unlock rewards. Currently, climbing up to the 300th global rank will earn you $MSTR, starting at 56 $MSTR, with the 70th rank earning 300 $MSTR, returning the initial investment.

Battling in this mode will also allow you to steal sMAG (an in-game currency) and food from your opponents.

Horde Invasion

The Horde Invasion is an idle PvP mini-game included in the Monsterra ecosystem. You deploy owned Landplots and Mongens to attack another player’s base, while the enemy attacks your base simultaneously. The player that destroys his enemy’s base faster wins the battle.


Rewards are distributed in $MAG, which can also be staked for a 66.54% APR. At the lowest levels, each victory earns 380 $MAG and you lose 200 $MAG with each defeat. Assuming you invested an initial amount of 10,000 $MAG to start playing, playing 20 matches a day with a 50/50 win rate (which translates to 1,800 $MAG per day) comes up to a ROI of 5.55 days or an annual ROI of 6,576%.

An ROI that high is unlikely to be sustainable. Remember to always do your own research before investing.

Boss Challenge

The Boss challenge is a mode in which you employ your Mongen and their troops to defeat a Boss. The boss battle is separated into multiple stages. The Boss will modify his skills and become stronger depending on the damage he has taken. You will be rewarded when he reaches a new milestone. You can only claim awards once each day at each milestone. This mode is unlocked when you reach Level 10.

Breeding

You can breed a new Mongen if you already own two Mongens (each Mongen can be used for breeding six times).  After breeding, you will receive a new Soulcore that will hatch a Mongen of the Soulcore’s rarity. Note that you can only use a Mongen if you have an unoccupied Habitat.

Roadmap

The Monsterra team has successfully managed to deliver the roadmap checkpoints until now.

Some of the features we are still expecting in 2023:

  • Battle: Abyss Tower (new mode)
  • Chain Expansion
  • Guild: Clan World map
  • MonsTV: Livestreaming
  • New DEX & CEX listing

For the full Roadmap, you can check the official whitepaper.

Key Takeaways

  • As a free-to-play user, you can survive the Meta, have a great time and advance through the game, but earning rewards will be limited.
  • Investing in the game by buying land plots and Mongens will greatly improve your power and will allow you to compete for a higher place in the leaderboard.
  • Staking $MSTR provides many benefits in-game that will give you an edge over other players.
  • Following the rate of expansion and community engagement, and with more features being added to the gameplay, Monsterra is building for the long term.

Key Risks

  • Because much of the game is off-chain it’s difficult to verify any information.
  • Monsterra competes in the play-to-earn space which historically has had boom and bust cycles. The sustainability of the in-game economy is a key risk.
  • $MSTR has a max supply of 100M tokens, while the current circulating supply is 4.7M. It’s important to see how the price is affected as more tokens are released in the market.
  • The game has no Discord community, using primarily Twitter and Telegram.

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