Launched in September 2021, CryptoCars V2 represents an NFT car racing game inspired by the American movie Cars. The CryptoCars team is focused not only on balancing the inflow and outflow of tokens within the game but also on the joy and excitement users can get from playing. In addition, the platform provides a mobile application, which is available for all Android and iOS devices.
CryptoCars V2 is powered by its native BEP-20 token CCAR2 based on the Binance Smart Chain (BSC). CCAR2 is a reserve currency used to stabilize the CryptoCars V2 network, facilitate programmable payments, and develop an open financial infrastructure. The pre-sale of 4 million tokens took place in Q3 2021. On January 25th, 2022, as the token moved to a new contract., the maximum CCAR2 supply was increased up to 1 billion coins.
The initial supply of CCAR2 was 100 million coins, which were allocated in the following way: 4% were released at the pre-sale, 8% were reserved for the public sale, 47% went to the play-to-earn reserve to be used for players’ rewards, 10% was kept for advisors, 12% was saved for the core team, 1% was intended for airdrops, 6% was spent on marketing, 8% on the platform development, and 4% on Dex LP. The vesting period makes up 25 months for the core team, 20 months for marketing, 12 months for the platform development, and 10 months for airdrops.
To earn CCAR2 tokens inside the game, players can win virtual races, PvC, PvP racing, sell materials they get through the racing game, or sell cars. CCAR2 is utilized for in-game staking, items and fuel purchasing, and rewarding. In addition, players can stake CCAR2-BNB LP to earn CAKE (the PancakeSwap BEP20 token). CCAR2 can be spent to purchase the first car in a Blind Box or materials to upgrade the current car or create a new car.
At the time of writing, the CryptoCars V2 token is listed only on PancakeSwap V2, with BUSD and BNB pairs traded at the largest volume.
The CryptoCars game
CryptoCars is a racing game that allows players to build their digital cars and enjoy adventures in the digital world without limits. To play CryptoCars, users need to sign up with their Metamask or another wallet and deposit CCAR2 on their gaming balances.
The CryptoCars V2 platform is based on the play-to-earn model. Players buy CCAR2 tokens and after that, they buy 1 blind box with a car (600 CCAR2 + 20 CCAR2 for registration number and 5 days of refueling). Every car is represented by a non-fungible token (NFT) that validates and protects users’ ownership rights. The BEP-721 standard helps players manage their NFTs on the Binance Smart Chain ecosystem.
The player’s mission in CryptoCars is to win PvP (player-versus-player) or PVC (player-versus-computer) races in order to get rewards. Virtual Race is a racing simulator with random cars. All players must contribute 10 CCAR2 to enter the race room. Participants can compete with up to 3 players of the same level. Their aim is to collect as many coins on the road as possible to have more rewards.
To participate in the race, cars need fuel, which can be refilled once a day for 2 CCAR2 per car as a fuel charge. Players can also use the Quick Race feature, i.e. purchase a full turn of 1 car for 1 CCAR2 to complete all races. Users can join 4-6 PVC racing every day depending on their car rarity.
The virtual race winners receive rewards in the form of tokens, materials, and experience points (EXP). When users gain enough EXP, they can use materials to upgrade their car level with the Item Box. Besides, the materials and vehicles can be resold on the Marketplace. The number of tokens received by the winner is determined by the occupied place. The 1st place winner is awarded 20 CCAR2, the 2nd place winner gets 14 CCAR2, while the 3rd place brings 2 CCAR2.
Also, the cars come with a depreciation feature which implies that cars get depreciated day by day until their price drops down to 0. After that, they need to be repaired for 60 CCAR2.
Car Workshop (CW) is a daily source of income for CW owners and developers. The first release of Car Workshop with 20 garages that took place in December 2021 was a successful event that gathered 7.7 million CCAR.
CW has multiple use cases such as car upgrading, power restoring, staking, etc. The car upgrade with items is necessary to strengthen its statistics. Each attachment or detachment of an item costs 3 CCAR2, of which 1.5 goes to the CW owner and 1.5 to the developer. CW is also used to restore the user’s PvP power. It costs 5 CCARs 1 time (2:3 for CW owner and developer). Each car staking for 4 hours brings its owner 200 EXP and costs 4 CCAR2 (2 for the CW owner and 2 for the developer). Changing your car color costs 5 CCAR2 (2:3 for CW owner and developer).
Car Workshops' main function is to create an active in-game marketplace where players can trade and interact with each other. They allow their owners to sell their shares of ownership, which newcomers and investors can buy to earn revenue. In addition, users can make a profit from trading shares. Sellers are charged 25% while the minimum selling amount for ownership is 50 CCAR2. To receive a reward from unsold shares, the sell order must be canceled before 00:00 UTC, when the system calculates the profit distribution. All collected fees are sent back to the rewards pool. Workshops give players an increasing daily reward without having to race or wait for tax reduction.
CryptoCars V2 team
The game is developed by the team that used to work for Gameloft and Genshin projects.
It is headed by the founder Ly Tran while other team members include An Nguyen, the CTO, Da Mach, a developer, Mai Dang, a designer, and a community manager Bao Thai.