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Big Time Economy Explained: All You Need to Know

Big Time revealed more information on their SPACE and $TIME economy and it answered a lot of the community's questions. Here is everything you need to know.

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Mostafa Salem

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Big Time's economy has been relatively under wraps for a while. The game has released their SPACE NFTs back in December 2021. Since then, little has been revealed on what players can do with it outside of building structures that will enable players to claim $TIME tokens from all their adventures, craft weapons, among other activities. The latest YouTube AMA organized by the development studio took an in-depth look at the Big Time economy and we are here to give you an overview of everything you need to know about how $TIME, SPACE NFTs, and other in-game elements interact together.

Cosmetic Based Economy

Big Time already emphasized this several times throughout their messaging. Players experienced this first-hand during the game's early access period, when one member would randomly be gifted an NFT during a dungeon run and its sole purpose is cosmetic. The studio completely avoids for any of these NFTs to affect gameplay, considering they can be bought, sold, and traded freely on the marketplace.

During the video, the studio leads drew comparisons to VALORANT, Fortnite, and League of Legends. All of which their studios sell their skins and cosmetics directly to the player and they don't transfer ownership either. However, with Big Time's system, they empower players by giving them the ability to craft cosmetics and letting them control how they're sold. The studio then partners with these creators to build a mutually beneficial relationship as they become deeply rooted within the entire game's business model.

Every cosmetic has a unique number of copies, and that number will never increase. Cosmetics will also be player-owned meaning players can trade or sell them whether on OpenLoot or outside the game's platforms. Lastly, owning cosmetics will give players access to exclusive areas in the game which could take form as an exclusive lounge area or a portal with different types of non-power-related items.

How to Craft Cosmetic Big Time NFTs

Now, you might be wondering if all of the game's emphasis is on enabling players to become creators, how would someone go about the process of creating Big Time cosmetic NFTs and what are the tools at their disposal. In order to craft collectibles in a game, players need to start with a base to build on, or rather SPACE NFTs. This is Big Time's version of virtual land; it's where the players' figurines are stored and where the 'little' factories (utility NFTs) are attached. Once they have this, they can start crafting and upgrading their collectibles. There are two types of collections: weapon or armor cosmetic sets or TIME hourglasses which have a special function in the game's economy.

Hourglassses are a limited supply artifact that when equipped will generate $TIME tokens while playing the game. $TIME is a cryptocurrency that acts as the glue of Big Time's economy. Since the hourglasses are limited in supply, only a fixed number of players can equip them at any given moment. On the other hand, $TIME tokens can be spent by any player, meaning there are unlimited possible sinks for the token in Big Time's economy. The dynamic that emerges from these two systems is that even if the player base grows, supply of $TIME tokens remains unchanged.

To sum it up in a nice graphic, the above image explains the basic flow of the $TIME economy and how it ties in with the cosmetics being created by players to be used or sold on the market. Hourglasses are required by its owners who would equip them and start generating $TIME tokens. $TIME tokens are acquired by the armory and forge owners who need them to craft cosmetic NFTs. Cosmetic NFTs can then be freely used or listed on Big Time's marketplace. Everything flows perfectly between them to form Big Time's economy loop.

How Do SPACE NFTs Work and What Do They Do

SPACE is Big Time's version of virtual land, where players can expand their personal Metaverse within the game. Starter areas serve as a first point of connection into your personal metaverse. All players will have access to these starter areas and will be able to decorate them .For players to connect the SPACE  to their personal metaverse, they first need to attach it to the starter area, thus expanding their personal SPACE capacity.

Each SPACE comes with a specific number of exit points, and once the SPACE is connected, one of the exit points will be locked. For players to expand beyond one SPACE they have the option to connect their spaces with each other. Each SPACE comes with one entrance point. In addition to the number of exits, the entrance point is locked once a SPACE is connected.

There is table of the entrance and exit points of each SPACE NFT and depending on their rarity, your NFT can have more or less points of contact for you to connect it to other NFTs It is worth mentioning. epic spaces can only be attached to epic utility NFTs or lower. The only exception to this rule are exalted spaces, which are compatible with all the rarities of utility and NFTs, including the ones higher than exalted.

What did you like and dislike about Big Time's economy from what we know so far? Share this article and tag us on any of our socials to let us know.

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updated:

December 31st 2022

posted:

November 29th 2022