Eutaria (EUT) is a cryptocurrency designed to cash in on the vast popularity of role-playing games.
To explain, Eutaria is a Dungeons and Dragons clone built on the blockchain. Players, they call Scholars, earn Binance Coin (BNB) by playing the game. They claim you can play the game off chain. They are building Eutaria on the Binance Smart Chain blockchain network.
Eutaria players can earn BNB through player-vs-player battles, lotteries, land management, fighting invasions, exploring caverns, breeding Eutarians, and something they call Eutarising. They claim Eutaria will aromatically convert earnings to BNB.
Welcome to Eutaria
The game transactions are off blockchain. Hence, Eutaria is not a nonfungible token (NFT) game. Eutaria (EUT) is not the game token. However, Scholars will need Eutaria (EUT) to unlock play-to-earn features and buy in-game currency with Binance Coin (BNB).
They call the in-game currency Pleasure Potions (PP). They sell the Pleasure Potions at an in-game store, or at taverns and caverns in the game. Each Pleasure Potion (PP) was worth $1 (0.0019 BNB on 30 October 2021). Each player can own one cavern and one tavern.
To participate, players need a Metamask wallet, a small amount of Eutaria (EUT) and a character they call an Eutarian. They claim users can play Eutaria through mobile phones by using Metamask. However, players can own as many Eutarians as they want.
They launched the Eutaria website, the Eutaria (EUT) token, the in-game shop, social media, the play-to-earn Eutarise feature, and began marketing in October 2021. The current plan is to launch in-game scholarship, a breeding feature, an in-game marketplace, an in-game lottery, applications to CoinGecko and CoinMarketCap, paid marketing, the play-to-earn caverns and taverns, and portrait artworks in November 2021.
They hope to update the whitepaper, launch multi-language support, conduct a token audit, activate the lands, taverns, and caverns features, begin play-to-earn invasions, launch play-to-earn player-vs-player PP rewards, offer more information about the world of Eutaria, and apply for exchange listings in the first and second quarters of 2022.
Filipino software engineer Kero Venturina is the owner and developer of Eutaria. They are building Eutaria in a scalable cloud server to give it an automatic backup.
The Eutaria (EUT) Token
They plan a 21 million total supply of Eutaria (EUT) tokens. They launched 100% of the tokens in the first launch.
They will charge a 10% tax on all Eutaria transactions. The tax will finance a reward pool. There will also be a 10% tax on all Pleasure Potion (PP) purchases that will finance a rewards pool.
They will charge one PP for listing in-game assets and another one PP fee for changing an asset. Hence, Eutaria will make $1 each time somebody lists an in-game asset. The in-game assets are not NFTs, so players can use them off line. Eutaria does not charge gas fees because the transactions take place offline.
Players can claim the Pleasure Potions (PP) at any time. Eutaria will automatically convert claimed PP to BNB and distribute it through airdrops. They will airdrop the BNB rewards to wallets on the 14th and 28th days of the month.
Eutaria will hold a weekly lotto (lottery). Lotto tickets cost one PP. They will use 80% of the lottery pool for prizes and 20% will go to the rewards to pool.
They claim Eutaria had 9,629 users and 3,339 characters (Eutarians) on 30 October 2021. Those players purchased 17,385 Pleasure Potions. The Pleasure Potions were worth $17,385 on 30 October 2021 if Eutaria’s claims are true.
What Value Does Eutaria (EUT) Have?
Mr. Market thinks Eutaria (EUT) has some value. For example, CoinMarketCap estimated Eutaria was the second most trending Eutaria was the second most trending cryptocurrency on 30 October 2021.
However, Eutaria was CoinMarketCap’s 4142rd most trending cryptocurrency on 3 Novemeber 2021. In detail, CoinMarketCap gave Eutaria (EUT) a Coin Price of 30.09¢, a Fully Diluted Market Capitalization of $6.320 million, and a 24-Hour Market Volume of $147,815. They based those numbers on Maximum Supply of 21 million EUT on 3 November 2021.
Conversely, CoinGecko gave Eutaria a Coin Price of 30.4¢, a 24-Hour Trading Volume of $82,267 and a Fully Diluted Valuation of $6.353 million, on 3 November 2021.
Can Eutaria Make Money?
It is hard to tell if Eutaria could make money. The role-playing game market is large and growing, however.
The Business Research Company estimates the Global Role Playing Games market value at $15.793 billion in 2019. In addition, the Business Research Company projects the Global Role-Playing Games Market could grow to $22.471 billion by 2023.
Hence, there is a market for Eutaria’s product that is growing. However, it is not clear if Eutaria is in the role-playing game business or the gambling business. Remember, the company is running a lottery.
Is Eutaria Gambling?
I think Eutaria could be an attempt to hide an internet lottery behind a role-playing game. This would not be the first time somebody used a role-playing game to hide gambling.
The so-called fantasy sports companies in the United States were fronts for online sports books. Notably, one of the most prominent fantasy sports companies, Draftskings started operating a sportsbook as soon as US Supreme Court allowed online gaming in the United States.
Hence, I have to wonder if Eutaria is a front for an online lottery and potentially illegal in many places. In particular, I think governments that run lotteries will not tolerate the competition. Yet, I think Eutaria (EUT) is a cryptocurrency to watch because its creator is trying to make money from the beginning.
Originally published at https://marketmadhouse.com on November 3, 2021.
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