Chumbi Valley Project Report | The new Axie?
CHUMBI VALLEY
What is Chumbi Valley?
Chumbi is a new and upcoming crypto NFT game that has a play to earn model similar to that of Axie Infinity. It is an indie game on blockchain that intends to bring blockchain gaming to the masses. It has followed a concept that is well known to the audience.
Excerpts from Chumbi Valley litepaper says:
Chumbi Valley is an enchanting role-playing blockchain game. It is being built on Polygon for it’s near instant transaction speed and almost zero fees. The game will be playable in app form, launching on PC, Mac, Android, and eventually iOS. All in-game items and creatures are blockchain based tokens and NFTs. Chumbi Valley’s visuals and gameplay are completely original and inspired by classics like Zelda, Stardew Valley, Pokemon & Studio Ghibli.
Players will be immersed in a mystical forest and spend many relaxing hours raising creatures called Chumbi. Most excitingly, players and Chumbi can work together to be rewarded with cryptocurrency for farming, exploring,
crafting, breeding, battling, and more.
The project is in a very early stage. The recently completed their private sale round for their $CHMB token, and they have a very big and growing community.
Tokenomics
Chumbi Valley tokenomics are quite similar to Axie. Axie has a max. total supply of 270M, while Chumbi has a max. total supply of 300M $CHMB tokens. They also have a $LSTS token which serves the purpose in Chumbi as $SLP token serves in Axie, and has an infinite supply. It is this token that will be earn while playing the game.
There will only be a max of 300M $CHMB tokens. Initial token supply will be 5.58M $CHMB
$CHMB token, which is the primary token, will be listed at $0.10 on Uniswap and probably on a CEX as well. The tokens were sold at $0.07 in private sale round. There will not be a public sale of the token.
Marketplace
Source
One of the exciting things about the project is that it has its own marketplace as well. Chumbi land plots, cosmetics,
game items, crops, resources, and more can be bough, sold, and traded on the web based marketplace.
Pros of Chumbi Valley:
Chumbi is in early stages and already has a huge following on their social media accounts.
It's built on Polygon which has almost zero fees and performs instant transactions.
The game will be in an app form launching in PC, Mac, and Android, and later on IOS as it progresses.
The In game items and creatures are blockchain based and NFTs and can be bought using the $CHMB token.
Chumbi’s gameplay is original, and is inspired by Zelda, strawde valley, Pokemon and Studio Gibli.
The token $CHMB will be used for in game purchases, governance, staking and marketplace. This will result in huge demand of $CHMB token, which can result in price appreciation of the token.
A separate token $LSTS will be used for P2E rewards, and will also have some burning mechanics, thus there will not be any sell pressure on the [primary token.
The team is public and has a couple of good advisors.
Partnerships with well known firms.
Cons of Chumbi Valley:
The team is inexperienced and doesn’t have a background in gaming or crypto.
The team itself is very small and there is very little information shared about the team. There is only one artist and designer that is mentioned in the litepaper. However, the artist seems very good after doing some background research on her.
Management, team and investors:
As mentioned the team is new to crypto space and hasn’t done any projects before, so there is not much experience there. However, we cannot rule out the possibility of them producing a fine product.
The management team consists of 4 people, Aisha and Nikki (Founder and CDO’s), Kieran Brumby (Development manager) and Kristie Vandevelde (Product development).
Allan Ta (CEO Rossen Finance) and Leo Ngo (Marketing Wanaka Farm) are the advisors.
Chumbi Valley recently announce their partnership with Rossen finance. Rossen will help Chumbi grow its services and will also launch a staking program for Chumbi.
The backers and investors of Chumbi are not all in on gaming and NFT projects, and most of them aren’t well known at picking the best projects either. However, there are some good VCs especially Kyros Ventures which has been investing into gaming projects mostly. OIG, AVStar, Black Dragon, Mintable.app and GD10 are some other good VCs which are the developing partners of Chumbi Vlley.
Conclusion:
The projects idea is not new but the feel of it is nice. It has a very beautiful art and a similar concept to that of Axie. The game will feature both, token and NFTs. There will be land available to buy as NFT as well, also the in game characters.
From what can be seen from the resources, it will be too early to comment on the product, but the concept is a proven success. A lot of people who missed on Axie might want to jump into Chumbi as early as possible. The only thing that bothers me is the inexperience of the team. There aren’t many developers there either. Although they have been upto it when it comes to delivering, but I’m still not sure if they can deliver according to their roadmap. But that’s it with ifs and buts, the project is legit and is legalized under Moving Castle PTD LTD confirmed by ACRA Singapore.
Chumbi Valley can be contacted via their website https://chumbivalley.com/ or you can mail them at [email protected].