ICO Analysis: Parsec Frontiers

Massive Multiplayer Online Worlds continue to gain in popularity. And now that in-game transactions can be put on the blockchain, the industry will  continue to grow and innovate. The massive team at ArtPlant is building what they hope is the next big thing, Parsec Frontiers.

Parsec Frontiers is an MMO world, with a complex virtual economy where tradable assets are secured and tracked on the blockchain.

With a persistent game universe and timeline the race is on to explore, expand and exploit the riches to be found in other star systems. Players will mine and refine rare elements, build advanced starships and defense systems and buy and trade resources at a profit on the planetary exchanges. Everything is tradeable and anything is possible.

According to the project:

“Players can explore the Milky Way galaxy, extract and trade resources, freight goods, attack others at their own peril, manufacture new and more advanced objects, research technology, create or join alliances and utilize ownership of space stations and resource extraction rights to ultimately expand their empire and wealth. All in-game items and resources are stored on a blockchain.”

Parsec Frontiers takes place after humanity’s demise. A procedurally generated version of the Milky Way gives players a sandbox galaxy to explore and build up from scratch. Players can buy or construct ships and travel to any point of the galaxy in 3D. After discovering resource locations or habitable planets, they can harvest and exploit these for themselves or sell the information to others. The resources can be traded, used for crafting purposes, or used to build infrastructure for more advanced projects.

Key features include:

  • Freedom and open markets: In this environment, goods are traded between systems, with smart contracts letting players write their own job offers, trade agreements and terms of use for their properties.
  • Real economy: Allows players to exchange Parsec tokens from ether and back again.
  • Travel and exploration: There will be two forms of travel offered, in-system and interstellar.
  • Crafting: Any object in Parsec Frontiers except raw materials are crafted by players. Resources are turned into small items or components, which again can be used as a part for a more complex crafted object. An example could be raw metal, which together with polymer and the correct blueprint can be turned into a control board. The control board could then be combined with other objects to craft an engine, which again could be used as a component to create a vehicle or a component for a vehicle. Certain objects can be crafted by simply having the materials and recipe available. Other more demanding projects require a construction facility which can be built on habitable planet plots controlled by the players.
  • Colonization: In Parsec Frontiers, habitable planets are a scarce and valuable resource. When players stumble across data suggesting a likely candidate, they can move in closer to do more accurate scans. Should the planet prove to be habitable, it can be claimed by the player for a fee, or the information about its whereabouts can be sold to someone more capable of colonizing it. Only planets that can naturally sustain a human population can be claimed.
  • Combat: Protect your belongings or take otherpeople’s stuff. Parsec Frontiers is a game of tactical decision making, and combat will occur at a pace slow enough to think every action through. Captains will try to gain the tactical advantage while targeting exposed or vital systems on the enemy ship with various offensive systems. Range and speed is a crucial factor, allowing more agile ships to reach a tactical position or make a hasty retreat. Explorers will have to tread cautiously as remnants of an alien civilization pose a very real threat when leaving explored space.
  • Limited and collectible in-game assets: They are currently auctioning off 100 ships, which will never be reproduced. They will continue to do this with other items for all the info go here.

All transactions in the game are stored on a decentralized ledger. This type of transparency enables new business models never before seen in the gaming industry.

Advantages of having a massive multiplayer online game on the blockchain:

  • Practically instant data organization and access.
  • Player accounts have real value.
  • Eliminates the middlemen who change the rules for their benefit.
  • Open voting introduces new assets and balances the economy.
  • Trustless ownership.
  • Token model aligns the interest for all actors, replacing them and ‘us’ and ‘we’.

Token

PRSC is the only accepted tender for all virtual economy transactions, providing safe secure and reliable payment and acting as a store and measure of value for all participants.

PRSC can also be exchanged for Ethereum, and as the players accumulate in-game wealth, they also accumulate real-world money. The team will try to get PRSC on as many exchanges as possible so that the currency is liquid

New players will buy into the game at a minimum price which gives them an allotment of PRSC. they can then use the PRSC to invest in ships, equipment, plots and resources needed to play the game.

If the player is successful in their hunt for riches, their surplus of items can be sold on in-game exchanges for Parsecs. And Parsecs not needed for new in-game items can either be cashed out on an external currency exchange or continuously held in the game account as an investment.

The allocation is as follows:

  • 60% pre-sale/crowdsale
  • 14% Buffer to Foundation
  • 10% Advisors
  • 10% Developers
  • 5% Bounty
  • 1% Airdrop

Team

The project is undertaken by renowned game development Artplant studio, based in Norway and Russia. The team of 15+ people has 5-25 years of game development experience and extensive experience with MMOs and virtual worlds.

The project has six advisers, including three listed below.

Christian Lassem: Creator of Planetarion, later followed by AD2460. They are both reference games that online space games have been inspired by, and they still have an active community.

John Kavanagh: An accomplished industry executive with a video game career of nearly 35 years. He has also been involved in designing, developing and licensing games and technology to Sega, Nintendo, Apple, Atari, Commodore and Broderbund. He’s since worked at Eidos, Crystal Dynamics and Paramount Pictures.

Shaban Shaame: Founded EverdreamSoft, a Swiss-based game company, in 2010. He pioneered in-game blockchain integration with Spells of Genesis and BitCrystals economy, giving players true ownership of their digital game assets.

When it comes to the dev team, many are from Artplant.

Verdict

On the surface level, this seems like an easy pass. But after digging into it, it seems more like a good gamble. It’s definitely been overlooked by investors. The team is legit and are trying to produce quality.

Blockchain-based MMOs will have a giant place in the future gaming industry. Putting digital assets on the chain so that they can be securely traded like tokens is game-changing.

Parsec is partnered with BitSpace, an up and coming block producer candidate and new project incubator for EOS blockchain. BitSpace was campaigning hard to bring Parsec Fronteir to EOS. However, they decided to go with NEO. According to Telegram, NEO hasn’t announced Parsec to their community yet. NEO is a  huge and passionate community. This game could get many new players once they start marketing.

Risks

  • More often than not, ambitious MMORPG projects such as Parsec underestimate and over-scope what it will take to produce, and the game never gets released. -1.5
  • The original token sale was only supposed to last 2 weeks in May. However, they were nowhere near hitting the cap, so they extended it until the end of June. As of May 25, they have raised  850 ETH. Their soft cap is 2,500 ETH and the hard cap is over 10,000 ETH. -3
  • Scalability is always an issue. They will build on the NEO blockchain, which is extremely risky at this point. Here’s the quote given in their whitepaper about how they will handle this issue:

“The modular approach also has the benefit of scaling well with the money raised to fund the project. We see many projects requiring a huge amount of money just for an initial release, not to mention the cost it takes to run and expand an MMORPG. Parsec however is a manageable project to get out the door, but scales infinitely upwards as time passes and funding is secured. Over time, we believe Parsec will be one of the richest MMO experiences on the market, and a true next generation of blockchain gaming.” -2

  • Marketing seems lacking. If they can’t sell out their soft cap, what makes them think they will be able to introduce this game to the masses? -2

Growth Potential

  • A large supply coins, if popular, have typically done extremely well in terms of ROI for ICO contributors. +1
  • Partnerships. As mentioned above, Parsec is partnered with BitSpace. Axie is a fantasy creature collecting game. Shufti Pro is a screen identity verification tool. And EverdreamSoft is a Swiss-based mobile game and app developer, created Spells of Genesis. +2

  • Space-based MMO Eve Online does not publish subscription numbers, but reportedly has about 500,000 monthly subscribers. Star Citizen is on track to raise close to $200 million from over 2 million prospective players. The team at Parsec wrote a blog breaking down what could happen to the token value if this game gets adopted. +3   
  • The team has had success in the past with games such as Battlestar Gallactica Online, which has seen over 20 million users.+4
  • The rare in-game assets will be sold on exchanges such as WAX. If this game goes mainstream, some of these ships that can be bid on today for 1 or 2 ETH, could be worth thousands of dollars in the future. Players are bidding on ships as we speak here .+2
  • Here’s a 5 minute demo showing what they have so far:+2

Disposition

This is a possible sleeper that could either pay off huge or crash and burn. Blockchain-based MMOs will have a giant place in the future gaming industry. Putting in-game digital assets on the chain so that they can be securely traded like tokens is game-changing. 5.5/10

Investment Details

  • Platform: NEO
  • Symbol: PRSC
  • Total Supply: 30,856,775,800 (30 billion)
  • Soft Cap: 2500 eth ($1.5 million)
  • Hard Cap: 10,759 eth ($6.5 million)
  • Price: 1 eth = 1,300,000 PRSC
  • Pre-sale/crowd sale: starts May 15 – June 30. currently in round 1= 30% bonus
  • Telegramhttps://t.me/ParsecFrontiers
  • Whitepaperhere
  • Websitehere

Featured image courtesy of Shutterstock.

Author:
Joshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!