When this project started, the ZED Run Horse Racing platform existed without a solution to it’s horse breeding feature. Horse breeding on the platform allows a user to expand the number of horses they own in their stable. This is a problem because the NFT horses on the platform contain an asset value that is diluted whenever breeding occurs.
On top of the asset value, there is historical ownership, and sentimental value that exists on these NFTs and needs to be managed.
What to solve for
- Users have too many assets that aren’t being sufficiently accessed on the platform (mostly due to bad breeding results).
- Users NFT horses contain value that they either purchased, or bred on the platform and they expect that value to stay with them.
Provide a way for users to retain their value by reducing the number of horses on the platform, and giving them rewards to help relieve the loss of access to their horse.
- Reduction of number of horses on platform
- Increase in breeding metrics
- As a horse owner, I should easily understand what the value of my horse is at any given time.
- As a horse owner, I should retain the rights to the name of my horse.
- As a horse owner I should be able to receive more in return for a horse that is more valuable.
- As a horse owner I want to retire my horse in hopes of a better breeding outcome my next time.
- As a horse owner I want to understand how I can extract more value for my horse if I decide to retire it.
As users in lots of GameFi spaces have been exposed to receiving rewards through NFT burning became something that helped expand the ecosystem of the game by allowing for constant progression, wealth generation and increased trading, all of which are positive behaviors of p2e gaming.
We looked at the Axie Infinity Releasing program as a direct analog to horse retirement. The first attempt at this was a timed event that ran for a month. The first rewards were mostly cosmetic items that players could receive.
The first designs attempted to solve the problem through a basic workflow for retirement that we tested with our users. We'd show them everything they would receive in lieu of giving up ownership over their NFT.
Testing end to end flow from selecting a horse from your stable, to viewing the rewards, and retiring the horse.
Issues with users that we focused on
- Flow to get to retirement mode (discoverability)
- Understanding of the main rewards (accrued, naming rights, catalysts)
- Market fluctuations, rarity tiering and allotments
- Users had no flow issues getting into retirement mode.
- Users agreed with design decision for the double opt-in for retirement.
- Fluctuating retirement reward prices was a new concept, but one users of cryptocurrencies have come to expect.
- Users loved the idea of assets for naming rights (nameplate) and the breeding catalyst NFT which they were strategizing how and when they might use it.
Final but just MVP