" GoSleep's governance token $ZZZ will log into Bitget, Gate.io and MXC in the form of Launchpad, which may indicate that the Sleep to Earn narrative may become the new favorite of X2E "
"Sleep to Earn" has become a new force in the X2E market
StepN made a good demonstration for the X2E track last year, which also makes this field no longer limited to the game-based P2E (Play to Earn) mode. After StepN became popular, more and more X2E concepts The product starts to face the market. In April last year alone, more than 102 top venture capital institutions and infrastructure service providers in the encryption market bet on the concept of X2E, with an investment amount of more than 12 billion U.S. dollars. , Learn to Earn, Drive to Earn, Sleep to Earn, Eat to Earn, Read to Earn, Write to Earn, Code to Earn, Create to Earn, Sing to Earn, Meditate to Earn, Sex to Earn and so on.
As StepN went downhill due to a sharp drop in revenue in the second half of last year, the loss of funds and users accelerated, which also caused more and more users to lose enthusiasm and interest in this track. Since June last year, the market’s investment sentiment has continued to decline. In October and December, the financing amount of the GameFi market has reached a freezing point, and the overall situation of X2E as a sub-category under the GameFi track can be imagined.
However, since the beginning of 2023, the gradual recovery of the market has also improved the overall financing situation of the market. We can see that the overall financing situation of the GameFi market has picked up. Although there is currently no clear market data indicator for the X2E segment, we see that the "Sleep to Earn" concept represented by the GoSleep project has become the first force in this segment.
It is understood that the two rounds of 5,000 NFTs of the Starlight Edition of the GoSleep project have been Mint completed on February 22 and March 1 this year. The price of the second round of Mint is 0.05555 ETH. The current floor price of Starlight Edition on OpenSea is 0.079 ETH.
The night scene version NFT released last year had a floor price of 0.38 ETH around February this year, and the current floor price is 1.3 ETH, so no matter which type of NFT you hold in the early stage, you can basically make a profit of more than 50%.
In addition, not long ago, GoSleep officials also disclosed a financing from Foresight Ventures led by CCC Capital, Amber Capital, SevenX Ventures, Kucoin Ventures, Gate Labs and other institutions, with a total financing of 2 million US dollars. At the same time, GoSleep’s governance token $ZZZ will also log into MXC, Bitget and Gate.io in the form of Launchpad on April 19.
From the impressive market performance of GoSleep, we can almost be sure that the X2E sector is regaining its popularity. On the other hand, "Sleep to Earn" is also becoming a new X2E narrative worthy of the market's attention. Can it reproduce StepN's last year? What about performance?
Does 'Sleep to Earn' Have Long-Term Narrative Potential?
Sleep to Earn is a concept that was proposed last year, that is, we can obtain token rewards by sleeping under different mechanisms based on NFT. GoSleep is currently a representative application of this track. Let’s start with GoSleep Speak to learn more about the Sleep to Earn section.
● "Sleep to Earn" mode of GoSleep
GoSleep is a Sleep to Earn application built on Arbitrum One. We can use GoSleep to get token incentives by sleeping. At the same time, it also focuses on the concept of HealthFi (this is a good narrative). , Encrypted tokens, to improve users' sleep quality in a more Web3 way.
In some documents publicly released by GoSleep CEO, an in-depth research on the entire sleep market was conducted. The overall market is growing fastest in the Asia Pacific region. For example, the mindfulness meditation app market will grow at a CAGR of 30.5% to exceed USD 2.63 billion by 2028, led by Asia Pacific (23% market share in 2021). Another indicator also shows that among meditation apps, sleep apps are the most popular among consumers. GoSleep takes East Asia as an entry point, and it first gained widespread attention in Japan, followed by South Korea. Recently, the active areas of the community have been covered, such as East Asia, North America, Europe and so on.
When users use GoSleep, they need to set a sleep goal. For example, I want to fall asleep at 10:00 and sleep until 8:00 the next morning. degrees) to obtain different rewards, achieve the goal and sleep well, the more token rewards you will get.
P2E games, Move to Earn, Learn to earn, and Write to Earn, etc., applications that can clearly quantify the completion of task indicators can well measure, judge, and quantify user behavior. Relatively speaking, Sleep to Earn cannot quantify sleep quality intuitively. GoSleep uses Apple's health data center or Google's sleep API to obtain the user's sleep data, and analyzes the ambient light, noise, and equipment of the user's mobile phone during sleep. Sensors (heartbeat, body temperature, etc.) and other data to detect the user's sleep quality.
How to quantify data is a very important process, and accuracy and fairness will determine the sustainability of ecological development. For data processing, GoSleep uses an advanced AI sleep algorithm model, and the sleep scoring algorithm takes into account the following sleep parameters:
1. Sleep time
2. Sleep efficiency
3. Sleep latency
4. Sleep cycle consistency
5. Sleep disturbance
6. Sleep goal achieved
The sleep quality score is calculated by applying weights to these parameters and summing the results. Weights are determined by the relative importance of each parameter in assessing overall sleep quality. The formula for calculating the sleep quality score is as follows:
Sleep quality score = w1 * sleep duration score + w2 * sleep efficiency score + w3 * sleep latency score + w4 * sleep cycle consistency score + w5 * sleep disturbance score + w6 * sleep goal achievement score.
In order to make the score calculation more accurate and fair, GoSleep has recognized the need for a more advanced and accurate sleep scoring method, which is why it has chosen to incorporate artificial intelligence (AI) algorithms into the next stage of development. AI algorithms are able to efficiently analyze large amounts of sleep data, identify patterns and trends, and adapt to new information. This makes AI ideal for improving the accuracy and adaptability of GoSleep's sleep scoring system.
By incorporating AI algorithms into sleep scoring strategies, it is expected to achieve the following:
1. Enhanced sleep quality scoring mode: Artificial intelligence algorithms can analyze sleep data more accurately, detecting patterns and trends that may not be visible to the human eye. This will allow GoSleep to provide users with a more accurate sleep quality score, helping them make better decisions about their sleep habits.
2. Fraud Prevention: AI can identify anomalies in sleep data, such as patterns that suggest false data entry. By detecting these inconsistencies, GoSleep can ensure that only real sleep data is used for scoring and rewards, maintaining a fair gaming experience for all users.
Of course, before users participate in Sleep to Earn through GoSleep, they need to obtain room NFT in advance. The NFT has scarcity, grade and attributes. These NFT indicators are linked to the number of tokens earned by users.
Attributes: All NFTs in the app have two random attributes of efficiency and comfort. Efficiency mainly affects the output of sleep tokens, and comfort mainly affects the output of governance tokens.
Rarity: According to the rarity, NFT is divided into five rarities: free, ordinary, rare, epic and legendary. After the NFT reaches the full level, the received income can be switched to governance tokens.
Level: The initial level of all NFTs is the same. Users can upgrade by consuming sleep point tokens. The higher the level, the faster the sleep token rewards will be produced. However, the higher the level, the more Sleep Tokens will be consumed to level up.
Durability: Each NFT has durability, and the durability of the current NFT will be deducted every time the user receives a reward. When the durability is 0, the NFT cannot be used and rewarded. At this time, the user needs to consume tokens to repair, and the number of tokens consumed will increase with the number of NFT repairs until the number of repairs is used up. Improving the grade of NFT will increase the number of repairs.
The starlight version NFT and night version NFT we mentioned above are one type of room NFT, and they have different earning effects.
Therefore, the specific quantitative indicators of GoSleep will include:
1) The user's sleep goal matching degree
According to the degree of matching between the user's actual sleep situation and the set sleep goal, data matching is performed on the time to fall asleep and the time to wake up. The higher the degree of matching, the more tokens will be rewarded.
2) Matching degree of user sleep duration
GoSleep's goal is to guide healthy sleep habits. The world's recognized daily sleep time is 7 to 9 hours. The closer the user's actual sleep time is to the recognition, the higher the reward. Fewer tokens are rewarded for sleep deprivation (below the accepted value) and excessive sleep time (above the accepted value).
3) Wear hardware devices such as iwatch
The data provided by hardware devices such as iwatch or wristbands are more accurate and detailed, and users who wear hardware devices can obtain additional reward systems.
4) Attributes, rarity and grade of NFT
First of all, users need to have a room NFT to enter the "sleep and make money" mode. The room NFT is the core asset.
The level, attributes and rarity of NFT are directly linked to the number of token rewards that users can get. The higher the level and the higher the scarcity of NFT, the higher the token rewards that users can get.
However, it is worth mentioning that GoSleep allows players to receive a room NFT for free in addition to purchasing it during registration, which means that non-paying users will also be able to get Sleep to Earn from it. This method can effectively match more Although there may be some early wool parties for Web2 users (this is unavoidable for all Web3 applications), this can be regarded as a very competitive Web3 marketing method, which must be beneficial to its long-term development.
After establishing the most basic Sleep to Earn mechanism, GoSleep further made its GameFi and SocialFi.
In addition to launching room NFTs and setting up an upgrade mechanism, GoSleep also launched NFTs of props (beds, curtains, pillows). Users can improve their ability to earn income through these decorations. Upgrade and be able to trade in the market (such as trading some synthetic NFTs with characteristics, you will be able to earn income, and the platform will charge 5% as income).
Users can also use GoSleep to play social games, set sleep groups, share sleep records, etc. to increase user stickiness, and form new user fission through social networking.
In addition, GoSleep will also be based on a sleep assistant equipped with a sleep AI algorithm model, based on big data to help users generate a sleep score (comprehensive score), and give sleep suggestions, such functions are usually paid in Web2 products, so this function is GoSleep is a competitive advantage for the Web2 user community. At the same time, around its own system, GoSleep is expected to be able to explore more business activities and give full play to the functions and advantages of encrypted tokens. For both GoSleep and users, the roles at both ends are win-win. The platform can earn income from a large number of users and explore more diversified business scenarios. Users earn tokens and improve sleep quality. Its own narrative is Positive.
● Token model of GoSleep
GoSleep adopts a dual-currency system, which is the sleep credit token NGT produced in the app, and the governance token ZZZ of the GoSleep ecosystem. GoSleep's token economics model is designed to make GoSleep's ecosystem sustainable. The project itself is a circular token economics model, including from generation (earning) to consumption (payment/spending), and the total amount of tokens is kept as necessary below the quantity to keep the overall value safe from inflation.
The sleep point token NGT is used as a token produced in the app. There is no upper limit on the total amount of tokens. Users can get NGT token rewards by using GoSleep to complete sleep tasks. It can be used for NFT upgrades, NFT repairs, opening NFT treasure chests, etc.
As the governance token in the GoSleep ecosystem, ZZZ has a total of 600 million pieces. ZZZ can be used for Staking to obtain governance voting rights and pledge rewards. Consumption within the app, including upgrading NFT, casting new NFTs, and staking to increase the probability of NFT upgrades, etc.; in the GoSleep app, users need to consume a certain amount of ZZZ tokens and NGT tokens to mint new NFTs. GoSleep's token model follows the StepN model more, but whether this token model can play a role in increasing the moat in the Sleep to Earn narrative still needs further observation.
● Is the Sleep to Earn narrative sustainable?
The Sleep to Earn narrative itself has its own advantages. Sleeping is a kind of just-needed behavior. Everyone needs sleep, and a good quality sleep is urgent for everyone. In theory, everyone its potential users. Compared with running, singing, reading, etc., the potential user groups they face are relatively "narrower". These behaviors are not something that everyone must do, especially running and reading, although the narrative sounds upward , but it is human nature to be lazy and lazy, and the vast majority of users may not be able to continue, which will cause many users to turn to speculative purposes. So relatively speaking, Sleep to Earn apps are more able to impress users. Apart from Earn, the other benefits that players get from this product are more obvious. It is a win-win situation for users and Sleep to Earn platforms like GoSleep itself.
Sleep to Earn also has more "light" features. In fact, from the perspective of GameFi, light weight has become a trend. For example, puzzle games such as match-3 are becoming the new tone of GameFi. The threshold for user participation is lower and unlimited time Engage with the occasion. Compared with other types of X2E narratives, Sleep to Earn is also more light-weight. It does not require the purchase of other heavy-duty external equipment to participate. Relatively speaking, the entry barrier for C-end users is lower. For example, GoSleep does not have very high requirements for hardware devices, and can basically meet the needs through mobile phones and smart watches (these smart devices are basically popular), which is also the biggest advantage of the Sleep to Earn narrative.
From the perspective of the X2E track itself, "X" and "Earn" are two parts. The latter serves the former, that is, it is expected to better promote the "X" narrative through the "Earn" feature. The ultimate goal of the product itself must be It is expected to attract more users to participate in it, and to develop the ecology in a long-term and sustainable way. But in fact, many X2E projects are putting the cart before the horse in actual development. For example, early users of StepN can basically pay back a pair of shoes in three days, but the changes in market factors and the decline in output have led to a gap in revenue for many users and the loss of their users.
Therefore, from the perspective of product growth, relying solely on "To Earn" as a means of drainage is not enough to ensure continuous growth. If you pay too much attention to the economic model design of the project and ignore the value of the X scenario itself, once the return on economic output is greater than If it is lowered, it may cause a large number of users to withdraw, making the product unable to continue to exist, and eventually becoming a pure "capital market". In addition, the positive value brought by the project to the public is also the key to the product's ability to attract more Web2 users and expand the user circle. After all, the current Web3 user base is limited. By expanding to Web2 users, more users and traffic can be brought in, creating a huge imagination space for the development of the ecology. Then from this perspective, the narrative of the Sleep to Earn section itself is more inclusive and has more potential.
The Sleep to Earn section is more popular in the market. It is almost difficult to obtain the early market quota of projects such as GoSleep, and when the NFT market has not fully recovered, the user's recognition of its GoSleep NFT, while in Only 36 hours after the GoSleep public beta was launched on April 2, the number of real users exceeded 30,000. At present (4-15), the total registered users are about 113,000, and the current active users are about 50,000 after restricting the IP. Illustrates the popularity of the Sleep to Earn track.
Summarize
In essence, X to Earn is a new ideological change in the Web2 product form. It is both a new attempt and a new breakthrough. With the development of the X2E plate narrative, the application in this field is also becoming lightweight and widespread . Although this type of Web3-oriented application is incomparable in terms of product maturity and user volume, once applications based on the concept of Sleep to Earn, such as GoSleep, have a siphon effect on Web2 users, they are expected to promote a qualitative leap in the Web3 world .