9 months ago

OVERVIEW
Echelon Prime is an ecosystem built specifically for games. The token is used as a currency within the ecosystem. They currently have one game in beta, called Parallel. It’s a trading card game with sci-fi notes and a very complex set of strategies.

THINGS I LIKE
The token is used within Parallel (the game) to buy different assets, including in-game NFTs.
The game looks good, the graphics are compelling and very modern. Reviews are quite positive from players.
(Probably my favorite) This is a brand new token launched this year. No bagholders and clear accumulation pattern.
There’s an expansion pack in development called Planetfall.
Interesting tokenomics model. Whenever assets are bought with $PRIME, the token is redistributed within the ecosystem. This looks like a much more sustainable model compared to inflation.
There’s token emissions within the game for good players. In theory, it’s a play to earn game, however I’m not sure you can make significant amounts as of now.
They encourage influencers to create content and get access to the Beta version. Views are still low, but this will definitely boost new players to join.
I couldn’t find information, but I’m guessing Coinbase Ventures is behind this project. They are the only major exchange that has listed the token.

MY CONCERNS
Investors and project owners hold close to 50% and unlocks just started. There will be around 55k new $PRIME in circulation every single day. Good part, the volume is so low they can’t sell it all.
It’s not clear what the ecosystem is for? What’s the tech? For now it’s just a flagship product, but I don’t see what could be the advantages over other ecosystems like IMX.
Being on ETH Mainnet means paying a ton of fees for very cheap NFTs. Good part is that they are going to be moving to BASE Layer 2.
NFTs on OpenSea are trending but in a bear market, trading volume is low, there’s no data for active daily users. This could be a quick hype cycle and then it loses relevancy.
There are other more established card games like Gods Unchained.

FINAL THOUGHTS
What initially got my attention was the performance of this token in the past weeks. It’s been outperforming by a lot and I always like to keep an eye on tokens that show relative strength. The gaming sector has not been too popular in recent months, however as we can see with Parallel, builders are building. My plan is not to accumulate any $PRIME since there are quite a bit of unknowns with the inflation and the overall performance of the game. However, if the initial hype is sustained and we see a return to the crypto gaming narrative, this could be a prime (pun intended) candidate for a good bull run.I’ll track the game development and inflation in the coming 6-8 months and see if the chart is still intact.

RESOURCES
https://twitter.com/xcoldplunge/status/1632054891932778498
https://parallel.life/
https://www.youtube.com/watch?v=CH4640yramc
https://docs.echelon.io/echelon-prime-foundation/
https://medium.com/@EchelonFND
https://twitter.com/EchelonFND
https://echelon.io/dashboard/

This video is for educational and informational purposes only.
I'm not a financial advisor.
Cryptocurrencies are high risk assets. Be aware of the risks before you decide to invest in any of them.
Do your own research and don't follow anyone blindly.

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