Star ATLAS Analysis - Passive Income
A study and analysis to understand the current and future valuation of the ATLAS token in the Star Atlas game system on Solana Blockchain.
Over the last few years there have been evolving economic systems since the launch of Bitcoin and the evolution of Ethereum and Solana. Most notably the evolution of DeFi to take on the traditional banking system. Recently the initiation of DePIN in the Theta, Flux and Helium projects taking on traditional communications systems and traditional hosting infrastructure. At its core all Blockchain models (DeFI, DePIN, etc) are decentralized and for the most part permission-less. Free entry and free exit and integration to permission-less open markets and exchanges.
Now a new model is evolving. It’s being called Web3 Gaming or DeGEN. Using blockchain to provide exchanged value in open markets and using NFT’s to represent physical assets in a game world that require effort and investment to create. I’ve spent a few weeks/months/years listening to a lot of podcasts and also playing the game with some “gambling money”. I have some knowledge and viewpoints to throw at this. I’ve been an entrepreneur, banker and video gamer. But most importantly I used to play Eve Online.
Why is Eve so important in this analysis? Because Eve is a massive MMO game that has been around since 2003 and has a working internal game economy. Looking at Eve it is easy to see the same mine, construct, build and sell mechanics at play. The difference is Eve doesn’t have a tie into real world money like Star Atlas does with Solana BlockChain. Eve also did an economics study with the University of Iceland. Eventually they hired an economist to oversee their economy.1 Who produced monthly economic reports like a small government.2 Yea it’s that good for us finance and economic junkies.
Star Atlas’ CEO, Michael Wagner, mentioned in a Podcast he sees the game having an ongoing labor component.3 Where people work for the game. As if that could be considered “work”? Imagine, after your six months working at a fast food franchise trying to work yourself through college to make $12/hour and be limited to only 20 hours a week due to the corporation not wanting to pay benefits. You decide to become a miner on the outer belts of Neuno mining Helium. On Thursday and Friday you join up with your posse and do mining in high-risk areas mining Titanium. A lucrative metal for component and ship building. You work when you want to and have a Telegram open with your friends as you chat back and forth.
After several months of making your own money you decide to follow the path of Stede Bonnet and become a pirate. A gentleman pirate. Raiding shipping lanes in X-17|Y23. Arggg.
Is this possible? Could we see a possible change to the labor market. Is the world about to turn into Ready Player One?4 And how does that affect the valuation of ATLAS?
Let’s dig deeper. But first for all those wanting “a pirate’s life for me”: a pirate shanty:
When I was just a little lad or so me mammy told me
(Away Ho, Away Ho, Away Ho Joe)
That if I didn't kiss the girls me lips would grow a-moldy
(Away Ho, Away Ho, Away Ho Joe)
Away (ho!) Haul away, we'll haul away together
(Away Ho, Away Ho, Away Ho Joe)
Away (ho!) Haul away, we'll haul for better weather
(Away Ho, Away Ho, Away Ho Joe)
I used to have an Irish girl, but she got fat and lazy
(Away Ho, Away Ho, Away Ho Joe)
But now I've got a Bristol girl, and she just drives me crazy
(Away Ho, Away Ho, Away Ho Joe)5