Since the origin of blockchain technology, thousands of companies have been speedily embracing blockchain in their businesses. The startup game development studio Third Time Games is not excluded from adopting blockchain technology.
Third Time Entertainment Studio owns the Photo Finish™ LIVE, a play-to-earn virtual horse racing ecosystem. CROWN is its official utility token used to stake tracks and receive a percentage of CROWN after each game.
In this article, we will talk about everything you need to know about CROWN: How it works, its features, and what makes it unique. We will also thoroughly explain the native token CROWN and its in-game Currency, DERBY, and provide a step-by-step guide on buying and trading CROWN tokens.
What Is Crown by Third Time Games?
Crown is a crypto-based blockchain game built on the Photo Finish Live virtual horse racing ecosystem by Third Time Entertainment. Photo Finish Horse Racing was the first mobile game released by Third Time Game in 2015.
Third Time Games is renowned for creating polished and addictive games; Crown Token, a Photo Finish horse race feature, is no exception. Its mobile game has previously gained nearly 15 million downloads.
The pioneers and developers of Third Time Game Studio are top developers and veterans in the game development industry with more than 15 years of experience. Crown was built using the Solana blockchain ecosystem.
It operates with a play-to-earn decentralized model, allowing players and fans to stake Crown tokens to proportionally own tracks and get a percentage of race entry fees in form of Derby, the in-game virtual Currency.
Third Time Games is positioned to create a generation of virtual horse racing games that cater to its fans' future. It uses the Web3 concept that allows you to own virtual horse racing tracks and earn rewards in a real-money racing ecosystem.
CROWN aims to offer an autonomous approach to the virtual racing ecosystem, ensuring its long-term success in the gaming and blockchain integration model.
To achieve this long-term aim, Third Time Entertainment is looking for individual engineers and business development managers interested in merging blockchain and game technologies to join their pool of creative teams.
What Is the CROWN Token?
The CROWN token is a market-traded native token built on the Solana blockchain. It is the utility token of the Photo Finish Live virtual horse racing environment development by the Third Time Games team.
Unlike DERBY, CROWN is a market-traded token that can be exchanged, and its price fluctuates. Players and fans can stake CROWN on the game's race tracks and be rewarded with 20% of race entry fee revenue paid out in DERBY and cash out in USDC.
When a virtual race is run in the Photo Finish Live game, owners of the horses often pay DERBY, the in-game entry fee. After the game is complete, a variable amount of that entry fee is shared between the winners and the track owners. Track owners who usually stake with CROWN typically take 20% and the winners 80%.
The DERBY is not marketable; it is a virtual in-game currency used as an entry fee for purchasing horse breeds and other game features. It is always at a stable price, usually 80 DERBY = US $1.00 and may be cashed out at any time.
Overview of CROWN
Crown is the utility token of Photo Finish Live, a play-to-earn virtual horse racing ecosystem built with a novel application of blockchain technology. The token serves multiple purposes -paying for in-game benefits, stake as a demonstration of ownership rights over tracks, and providing a form of reward for successful racing careers.
It allows players to NFT horses against other players for real money. Ultimately, both track owners and players earn a crypto-based CROWN token. The game uses an in-game calendar, with each season corresponding to real-live time, offering various races for players to participate in.
The more CROWN you own and stake, the more your hard work as a racetrack operator can pay off in virtual currency that you can use to grow your empire. CROWN is unique in that every time a player races in a real-money race, they receive a small amount of $CROWN, regardless of the game's outcome.
Some of the game's owners held senior leadership positions held at Electronic Arts, Zynga, Row Sham Bow, Glu Mobile, and FanDuel.
Features of CROWN
Crown leverages the SPL token and Solana blockchain, giving the token several unique features. Below are the features of CROWN:
- Security: Its implementation of Solana blockchain technology provides a secure and reliable foundation, ensuring the safety of user assets and transactions.
- Low Fees: Due to Solana's low transaction fees, Crown has considerably low transaction fees.
- High Speed: Through the SPL token, transaction processing capability is highly enhanced to ensure seamless and fast Crown transactions.
- Scalability: Solana's scalable architecture allows the Photo Finish LIVE ecosystem to expand and adapt to increased demand without sacrificing speed or performance.
CROWN Tokenomics
Token Allocation
- Total Lifetime Supply: 250,000,000 $CROWN
- Staking Rewards: 125,000,000 $CROWN (50%)
- Team & Investors: 70,000,000 $CROWN (28%)
- Ecosystem: 55,000,000 $CROWN (22%)
Token Distribution
CROWN’s distribution is closely tied to the “seasons” in Photo Finish™ LIVE. Each season lasts 28 days, which represents one year in the game.
The tokens are released gradually over time for each category.
1. Staking Rewards:
- 50% of supply
- 125M $CROWN
- 4.8 million tokens are added to the staking pool every 28 days for two years.
2. Team & Investors:
- 28% of supply
- 70M $CROWN
- This allocation is subject to a 1-year lockup, releasing linearly over two years.
3. Ecosystem:
- 22% of supply
- 55M $CROWN
- This allocation releases 4.23 million tokens per season for one year, with variability based on racing amounts.
How to Buy and Trade CROWN Tokens?
CoinEx is a global cryptocurrency exchange trusted by over 5 million consumers globally, with 100% reserve. With over 900 tokens available, including CROWN, users may trade effortlessly.
CROWN was listed on CoinEx on January 17, 2024, at an initial price of $0.7423 USD, marking an impressive overall change of +79.76%. This indicates significant growth potential in the token's value since its listing, although the price of CROWN tokens may have fluctuated.
To buy CROWN tokens on CoinEx, follow these instructions.
- Create an account: Sign up for a CoinEx account.
- Deposit Funds: After logging in, fund your CoinEx account using any supported cryptocurrency or deposit method available on the exchange. With funds in your account, you can perform trades seamlessly.
- Navigate to CROWN Trading Page: Once your account has been funded, visit CoinEx's dedicated CROWN trading page. To find CROWN trading pairs on the spot trading page, use the search box and input the phrase "CROWN."
- Choose a trading pair: To trade CROWN against USDT (Tether), use the trading pair CROWN/USDT.
- Specify the Purchase Amount: The next step is to specify the quantity of CROWN you want to buy. On the trading page, you can buy them at the existing market price or set a limit for your desired buying price.
- Execute the Trade: Proceed using the provided amount. Confirm the information, and if you're pleased, submit the order.
The above steps allow you to trade CROWN tokens on CoinEx using the available trading pairs.
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