Gelotto 2024: A Retrospective and Future Roadmap
Tritador XYZ
Summary
This document is a plain-language summary of where the Gelotto project began, where the project currently stands, and the near-future plans for Gelotto. Essentially, a rundown of the current status and future plans for each of Gelotto’s current and planned projects.
While this document sets out some of the intended developments for Gelotto in 2024, expect plenty of changes. In the world of cryptocurrency projects, nothing is ever set in stone. Original plans frequently change in favor of new opportunities and developments. Many ideas don’t work the way that was originally intended, and changes must be made. Some of these changes consume a great deal of time, other changes actually make things much simpler (turning a roadblock into an opportunity!), while some plans are scrapped entirely in favor of better ones.
Think of this document as a “state of the union” for Gelotto that sets forth what the project has accomplished, where things have fallen short, the current state of the many parts of Gelotto, and the current plans for the future.
Gelotto is a year and a half old, having entered the crypto scene in June of 2022, when the Gelotto token (GLTO) was airdropped to owners of various Cosmos/IBC assets. While Gelotto has focused primarily on cryptocurrency-based games of chance, Gelotto brands itself as more of a web3 software company with big plans for not only gaming, but also NFTs, web3 tooling and contracts, validation across multiple crypto networks, and eventual real-world projects. Additionally, while Gelotto originally launched within the Cosmos/IBC ecosystem on the Juno network, Gelotto plans to expand into multiple networks (in fact, into as many web3 spaces where it makes technological and financial sense to expand).
Introduction
This document is divided into the following sections:
Upcoming Roadmap for 2024 - a brief summary of Gelotto’s plans for the coming year.
Current games - the current state of each of Gelotto’s games of chance and the planned future developments for each game
Future games - games that are planned for development and a brief description of what is intended for these games
Current web3 tooling - the current state of each of Gelotto’s web3 contracts and applications (staking-as-the-house, NFT reward distribution tooling, smart contract management tooling, “Gelotto Threads” (an on-chain communication platform), and more)
Future web3 tooling - planned web3 contracts and applications for future development
Gelotto Tokenomics - current and planned Gelotto cryptocurrency assets (the current state of these assets and upcoming changes where applicable)
Gelotto NFT Collections (and Collections affiliated with the Gelotto NFT Label Project) - a brief description of each of Gelotto’s NFT series and their utilities, collections from other creators that have become a part of Gelotto’s NFT Label Project, and a glimpse into Gelotto’s future plans for the NFT scene
Gelotto Validators - a summary of Gelotto’s validators and possible changes to be made
Upcoming Roadmap for 2024
Introduction
If your primary interest begins and ends with the items Gelotto plans to tackle in 2024, this may be the only section of this document you need to read. However, the sections that follow will include a retrospective summary of Gelotto’s development to date in greater detail, plans to change or improve existing content, and more detail regarding Gelotto’s future plans for 2024 and beyond.
Roadmap Summary
Deploy “Gelotto Threads” - an on-chain communication platform. “Threads” was originally intended for use with Gelotto’s prediction market and human oracle platform (so humans participating in the human oracle platform will be able to communicate regarding outcomes, exchange evidence, etc.) However, “Threads” also has stand-alone value, being usable for any exchange of information ranging from cryptocurrency governance discussions to general social content to NSFW content. At the time of writing this document, an alpha version of Gelotto Threads has been deployed on the Archway network for testing and demonstration.
Add features to address possible exploits in the GelottoMax game. These features may include one or more of:
limiting the number of tickets able to be purchased by a single wallet for a drawing
adding a maximum size for progressive jackpots (revenue from ticket purchases beyond this amount will be added to subsequent progressive jackpots after a current jackpot is won)
adding revenue from ticket purchases to a progressive jackpot after each drawing (rather than at the time tickets are purchased)
Address errors associated with the Mortal Koinbat game and bring this game back online - Preivously, a malicious actor discovered exploits in the Mortal Koinbat game. Addressing these exploits created errors in the user interface for the game, resulting in the display of incorrect information, which must be repaired before bringing the game back online.
Deploy Mortal Koinbat on other networks besides Juno (currently intended: Injective, Archway, Stargaze, and Kujira) and add a network selection control to enable users to easily switch between networks when accessing the Gelotto website.
Deploy a tool to enable third parties to initiate NFT raffle games having selected parameters without requiring the intervention of the Gelotto team.
Migrate the Gelotto token (GLTO) to the Ethereum ecosystem. This migration will include:
Minting ethereum-based GLTO tokens
Creating a wrapped version of the GLTO token usable with existing and future apps in the Cosmos/IBC ecosystem via the Injective network bridge (other methods are also possible if needed)
Migrating GLTO tokens that are held by the “Staking as the house” (SATH) contract to a new SATH contract that includes wrapped GLTO tokens assigned to the same owners
Creating a tool that will allow holders of original GLTO tokens to exchange original tokens for wrapped GLTO tokens (a tool to enable exchanging the original GLTO token for the Ethereum version is also being considered)
Creating one or more incentivized liquidity pools in the Ethereum ecosystem (such as on Uniswap) to enable exchange of ethereum versions of the GLTO token, so that Gelotto may benefit from access to the liquidity of the Ethereum ecosystem
Create one or more incentivized liquidity pools in the Cosmos/IBC ecosystem (such as on Osmosis, Kujira, and/or Astrovault) to enable users to directly exchange for wrapped versions of the GLTO token
Deploy Gelotto Prediction Market - a platform that enables users to speculate on outcomes for various events. The outcomes that occur may be determined using existing blockchain oracles, administrative controls, or “Verdict” - Gelotto's human oracle platform (descried below). The prediction market will be initially deployed on the Archway network, which has awarded a grant to Gelotto for this purpose.
Deploy “Verdict” - a “human oracle” platform in which human users may function as “jurors” that vote to resolve outcomes for the Prediction Market, described above, such as when users speculate on certain types of outcomes that are not able to be determined using blockchain-based oracles. Jurors will receive a fee for this service. This platform may have wider applications, such as allowing jurors to vote to determine completion of tasks, tracking of the activities of jurors to enable jurors to be ranked and scored in various categories, etc. Jurors may also communicate, exchange evidence and other information, and so forth using the “Gelotto Threads” platform, described above. “Verdict” will be initially deployed on the Archway network, which has awarded a grant to Gelotto for this purpose.
Deploy NFT fragmentation platform - a platform intended for deployment on the Stargaze network that enables a single NFT or group of NFTs to be partitioned into “fragments” that may be traded. For example, an owner of a single high-value NFT may divide the NFT into multiple lower-cost fragments and make these fragments available for purchase. In a similar manner, a group of NFTs may be bundled together, and fragments representing ownership shares of this group of NFTs may be generated and traded. In addition to trading, NFT fragments may be used for borrowing and lending applications.
Deploy Dynamic NFTs - NFTs having associated metadata that may be modified. For example, NFTs may represent game pieces having attributes or other characteristics that may change as a game is played or as other NFTs are acquired and used. To showcase this feature, deployment of an Animal Racing Game on Stargaze network is intended, in which NFTs that represent animals have attributes that change as the animal is used or as other NFTs that represent equipment or consumable products are used in association with the NFT that represents the animal.
Deploy “Gelotto Monsters Unleashed” (a.k.a. “Beast”) - a play-to-earn game intended for release on the Stargaze network that is centered around the collection and modification of virtual creatures, represented by NFTs. Creatures begin life as an egg that may be hatched after passage of time or use of other NFTs in conjunction with the egg NFT. The resulting creature may be modified through use of NFTs that represent potions or similar types of consumable or durable objects. Creatures may be pitted against one another in battles or used in other events and activities. This game will use an in-game token, BEAST, which may be acquired through gameplay or in-game selling of NFTs, used to purchase or modify NFTs, and won and lost betting on battles or other game events.
Hold the 2024 Gelotto Grand Prize Game (a.k.a. “GKEY”) - Estimated to occur at the end of 2024, this game will enable a limited-supply secondary asset created by Gelotto, the GKEY token, to be used to attempt to acquire grand prizes that may include sums of Bitcoin, Ethereum, or other cryptocurrency, or even real-world assets. Gelotto originally intended for this game to occur much earlier, but market conditions and community interest have caused the launch of this game to be delayed. Please see the Future Games section below for additional information.
Current Games
Introduction
The current status and intended future developments for Gelotto’s current lineup of games is outlined below. Some of the intended developments for current games may not occur in 2024 in favor of other planned deployments referenced in the roadmap summary above. Even if not specifically referenced in the roadmap summary, these developments may be deployed between other projects, or may become prioritized if circumstances change.
Legacy Lottery
Summary
The “Legacy Lottery” was Gelotto’s original game. It is probably more correctly termed a raffle than a lottery. The game was initially very active, but participation has decreased with the creation of other Gelotto games drawing a larger share of community interest. In brief summary:
a game is launched with a timer indicating when a winner will be drawn (games may also be set to draw the winning ticket(s) after a selected number of tickets have been purchased)
players buy tickets (price and cryptocurrency asset used are selected by the game creator)
the majority of the ticket price is placed into the prize pool, while a small portion is kept by Gelotto (distributed to the staking-as-the-house pool, Gelotto NFT holders, and the prize wallet for the GKEY grand prize game, each described in more detail below)
once the timer reaches zero (or the selected number of tickets is purchased), one or more winning tickets are drawn (number of winners and prize distribution selected by the game creator)
winners may claim their prize
Current State of the Game
The Legacy Lottery game is currently running on the Juno network
Randomness for determining winning tickets uses a unique method of introducing “crowd-sourced” randomness into blockchain transactions through the actions of participating players (this randomness was the subject of the original Gelotto whitepaper)
Games are created by the Gelotto team, who may optionally add assets to increase the size of a prize pool
A Legacy Lottery game may use any cryptocurrency asset able to be transferred to the Juno network, though over time, games have come to primarily use Gelotto assets mostly due to community preference
Participation in Legacy Lottery games has decreased since the first release of the game, primarily due to interest in other Gelotto games
Future Plans for the Game
A third-party lottery creation tool that allows any third party (for a fee to prevent spam/abuse) to create a game having customized parameters
- Parameters may include the token used for ticket purchases and prize pool, the length of time (or number of purchased tickets) before the winning ticket(s) are drawn, the number of winning tickets, the division of the prize pool, royalty recipient(s) for a portion of ticket purchases
The ability to create multi-round games where all or a portion of a prize pool in one round may roll over to a subsequent round, participation in subsequent rounds may be restricted to certain players (such as winners of a previous round), etc.
The ability to include multiple types of tokens (and/or NFTs) in the prize pool
Use of Nois network as a source of randomness for determining winning tickets
Possible deployment of this game on other networks
Possible rebranding of this game as a type of raffle (to account for the creation of the “GelottoMax” lottery game that was developed after creation of the Legacy Lottery game)
NFT Raffle
Summary
An NFT raffle allows a raffle creator to award an NFT to the purchaser of a winning raffle ticket. This game was initially extremely active, and participation remains significant but varies depending on the interest in the particular NFTs that are available. In brief summary:
a game is launched with a timer indicating when a winner will be drawn (games may also draw a winning ticket after a selected number of tickets have been purchased)
players purchase tickets (price and cryptocurrency asset used are selected by the game creator)
the majority of the ticket price is transferred to the original owner of the NFT after the raffle has ended, while a small portion is kept by Gelotto (distributed to the staking-as-the-house pool, Gelotto NFT holders, and prize wallet for the GKEY grand prize game)
once the timer reaches zero (or the selected number of tickets is purchased), a winning ticket is drawn
the NFT is transferred to the purchaser of the winning ticket
Current State of the Game
The NFT Raffle game is currently running on the Juno network, with raffled NFTs primarily existing on the Stargaze network
Randomness for determining winning tickets uses a unique method of introducing “crowd-sourced” randomness into blockchain transactions through the actions of participating players (See original Gelotto whitepaper)
Games are created by the Gelotto development team
The Gelotto team will occasionally purchase NFTs to be raffled
Gelotto offers a “white glove” service where third parties may provide an NFT and submit a form to the Gelotto team specifying the parameters of a raffle, and the Gelotto team creates a game based on the specified parameters
An NFT Raffle game may use any cryptocurrency asset able to be transferred to the Juno network, though over time, games have come to primarily use the JUNO and GLTO tokens, mostly due to community preference
Participation in NFT Raffle games was initially extremely high, but currently varies based on the particular NFTs available to be won
Future Plans for the Game
A third-party raffle creation tool that allows any third party (for a fee to prevent spam/abuse) to create a game having customized parameters (e.g. token used for ticket purchases, length of time or number of tickets purchased before a winning ticket is drawn, royalty recipient(s), etc.)
The ability to create multi-round games
The ability to include multiple NFTs or a mixture of NFTs and other crypto assets in the prize pool
Use of the Nois network as a source of randomness for determining winning tickets
Possible deployment of this game on other networks
Sports Squares
Summary
Based on the “Football Squares” game, commonly played across the United States during the American football season, the gameboard for Sports Squares is a 10x10 grid, each square representing one possible combination of the last two digits of the scores of opposing teams in a real-world sporting event. A player wins if a purchased square corresponds to the score digits that occur in the real-world event. Gelotto’s Sports Squares game was extremely popular when first released in advance of the 2022 National Football League (NFL) Superbowl game, but current participation varies depending on community interest in particular events for which a squares game is available. Two versions of the game exist: version 1 provides equally–priced squares for purchase that are randomly assigned score digits (familiar to players of Fotoball Squares); and version 2 provides differently-priced squares with pre-assigned score digits, the prices of squares based on the statistical likelihood of the digits occurring in the event (unique to Gelotto).The game works as follows:
a 10x10 grid with 100 squares available for purchase is created in advance of a sporting event
FOR VERSION 1:
players purchase squares, each square being priced equally (price per square and cryptocurrency asset used are selected by the game creator)
after a selected time has elapsed, purchasing of squares is closed and each square is assigned two numbers representing prospective last digits of the scores of each team in the sporting event
FOR VERSION 2:
each square is assigned two numbers representing prospective last digits of the scores of each team in the sporting event
players purchase squares, each square being priced differently based on the historical/statistical odds of occurrence of the scores represented by the square (squares that are statistically more likely to win are priced higher than squares that are statistically less likely to win)
the majority of the ticket price is placed into the prize pool, while a small portion is kept by Gelotto (distributed to the staking-as-the-house pool, Gelotto NFT holders, and the prize wallet for the GKEY grand prize game)
Alternatively, Gelotto may supply the prize pool when a game is created and retain all or a larger portion of the purchase price of the tickets
at the conclusion of the game (and optionally at other times during the game, such as at the end of a quarter, half, period, etc.), the square assigned numbers that match the game score at that time is a winning square
purchasers of a winning square may claim the associated prize after the game has ended (number of winners and division of prize pool selected by the game creator)
if one or more of the squares that win were not purchased, the prize associated with those square(s) may be retained by Gelotto (distributed to the staking-as-the-house pool), rolled into a subsequent prize pool, etc.
Current State of the Game
The Sports Squares game is currently running on the Juno network
Games are created by the Gelotto team, who may optionally provide assets to the prize pool
The sporting events featured in the games to date have included American Football (both college and professional (NFL) sporting events), and a small selection of United States basketball games, though it is possible for a Sports Squares game to be associated with any event that is scored
A Sports Squares game may use any cryptocurrency asset able to be transferred to the Juno network, though games primarily use the GLTO token mostly due to community preference and integration of this game with the Staking as the House platform (which also uses GLTO tokens)
Participation in Sports Squares games was initially high, and has become more variable with interest based on the particular sporting events for which a Sports Squares game is available
Future Plans for the Game
A third-party creation tool that allows a third party (for a fee to prevent spam/abuse) to create a game having customized parameters (e.g., the particular event, prices of squares, prize distribution, cryptocurrency asset used, length of time to permit sale of squares)
Integration with “Verdict”, Gelotto’s Human Oracle protocol (described in more detail below), which will enable a group of human “jurors” to resolve the outcome of the game, such as by verifying winning and losing squares
Possible deployment of this game on other networks
Mortal Koinbat
Summary
Mortal Koinbat is a virtual coin toss game with selectable odds and prices, enhanced by the notion of pitting characters and concepts, represented as decorative coins, against each other in a “combat”. A selection of games is presented, each game having two characters or concepts, and each game having a specified price per coin toss and odds for winning each toss. Players may purchase multiple coin tosses in a single transaction.
Mortal Koinbat was initially extremely popular due to its continuous availability and ease of gameplay. Unfortunately, the game was targeted by a malicious actor, who was able to exploit the underlying smart contracts to prevent spending of tokens when a coin toss was lost. This exploit was remedied by dividing certain actions performed by the smart contracts into separate transactions and the integration of randomness form Nois network, however these updates did not interface correctly with all of the user interface elements for the game, resulting in incorrect information being displayed. At the time this document was written, Mortal Koinbat is currently offline while these issues are repaired.
The game operates as follows:
A player selects one or more coin tosses, each represented by character or concept-based artwork, each having a specified price, and each having a specified chance of winning
The player then executes the selected coin tosses, the cost of the purchased coin tosses is received from the player’s wallet, the results are displayed, and any tokens that are won are transferred to the player’s wallet
The game retains a tally of the tokens won or lost across multiple transactions during the player’s session
Current State of the Game
As noted above, Mortal Koinbat is currently offline due to user interface errors, however Mortal Koinbat was one of Gelotto’s most popular games when online due to its continuous availability and ease of gameplay
Mortal Koinbat is currently deployed on the Juno network
Games are created by the Gelotto team, who selects the text, graphics, price, and odds for each coin toss option
Optionally, the Gelotto team may offer additional prizes, such as NFTs, for winning certain coin toss options a selected number of times
Mortal Koinbat was the first game that interfaced with Gelotto’s “Staking as the House” (SATH) platform (described below), with the purchase price of losing coin tosses being paid into the SATH contract, and the prizes for winning coin tosses being taken from the SATH contract
Due to interfacing with SATH, which uses the GLTO token, Mortal Koinbat also uses the GLTO token, however use of other cryptocurrency assets is possible
Randomness for determining the outcomes of coin tosses is sourced from Nois network, with Gelotto’s own backend process (described in original Gelotto whitepaper) used as a backup method if the Nois transaction fails
Future Plans for the Game
Bring Mortal Koinbat back online after addressing the user interface errors that resulted from fixing an exploit
Deploy the game on other networks (using those networks’ native tokens)
Integration with the Gelotto credit system (described below), which will enable players to purchase a desired amount of Gelotto credit in a single blockchain transaction, then spend this credit on Mortal Koinbat (or other games or applications) without requiring transfers of assets using blockchain transactions
GelottoMax
Summary
GelottoMax is a set of lottery-style games in which players buy tickets, each represented by a selected set of numbers. A set of winning numbers is drawn periodically (the time period between drawings varies for each GelottoMax game). Each GelottoMax game may offer different odds (affected by by the range and quantity of numbers that are selected for a ticket) and different prize structures (some games may award prizes for matching some but not all of the winning numbers). Additionally, some GelottoMax games may include a progressive jackpot that is retained between drawings if not won, allowing the jackpot to grow after each drawing if it is not won. In brief summary:
One or more GelottoMax games are initiated, each game defined by:
a price and crypto currency asset used to purchase tickets and be placed in the prize pool
the quantity of numbers included on a ticket
the numerical range from which ticket numbers may be selected
a length of time between drawings for a winning set of numbers
a set of prize pools, each prize pool defined by the conditions for winning (e.g., matching 3 out of 5 winning numbers, 4 out of 5, 5 out of 5, etc.) and the prize structure (some prize pools may include a fixed quantity of tokens, while others may include a progressive pool that grows by adding a portion of the purchase price for each ticket)
Players purchase tickets using an interface that allows individual or multiple tickets to be purchased through a single transaction. Players may manually select the numbers to be included on each ticket, or may opt to select a “quick pick” option to randomly select numbers for one or more tickets
When the timer associated with the game has lapsed, a set of winning numbers is determined, and any purchased tickets that match a sufficient quantity of the winning numbers to win a prize pool may claim the associated prize
If the game includes a progressive jackpot and no purchased ticket wins the jackpot, the tokens in the jackpot are retained and remain available to win in the subsequent drawing
Current State of the Game
GelottoMax has been one of Gelotto’s most popular games due to its continuous availability and the inclusion of games with short time periods between drawings
GelottoMax is currently running on the Juno network
Games are created by the Gelotto team, who selects the game parameters (ticket price, cryptocurrency asset used, quantity and range of numbers for tickets, distribution of prize pools)
GelottoMax is integrated with Gelotto’s “Staking as the House” (SATH) platform (described below). While the majority of the tokens used to purchase a ticket are provided to one or more prize pools for the game, a portion of the purchase price of each ticket and a portion of each prize pool are sent to the SATH contract
Due to interfacing with SATH, which uses the GLTO token, GelottoMax uses the GLTO token, however use of other cryptocurrency assets is possible
Randomness for determining the winning number is sourced from Nois network, with Gelotto’s own backend process (described in original Gelotto whitepaper) used as a backup method if the Nois transaction fails
Future Plans for the Game
Add features to reduce the possibility of exploits, such as maximum caps on jackpot sizes or numbers of tickets able to be purchased by a single wallet and/or increasing the size of a progressive jackpot after each drawing rather than when tickets are purchased
Deploy this game on other networks
Collect data and add game variations based on drawing frequencies and odds that are attractive to players and profitable for the SATH platform
Integration with the Gelotto credit system (described below), which will enable players to purchase a desired amount of Gelotto credit in a single transaction, then spend this credit without requiring transfers of assets using blockchain transactions
Future Games
Introduction
Intended new additions to Gelotto’s lineup of games are outlined below. Some of these games may not be deployed in 2024 in favor of other planned deployments referenced above. However, priorities and circumstances frequently change, and even if a game is not specifically referenced in the roadmap summary above, it is possible Gelotto may deploy these items sooner rather than later.
Prediction Market
Gelotto will be deploying a Prediction Market on the Archway network, which has awarded a grant to Gelotto for this purpose. Prediction markets enable a user to create a prediction pool (structured similarly to a liquidity pool), where users may speculate on the outcome of an event by purchasing shares in a selected outcome.
Users will be able to create a prediction pool (for a fee) that poses a topic for prediction and two (or more) possible outcomes. Participants will then be able to purchase shares for a selected outcome, with the purchase price for shares changing dynamically (e.g., the price for a share associated with an outcome may increase as more shares for that outcome are purchased, while the price of shares for outcomes that are not purchased may decrease.) At the end of a selected time period or event, the outcome that occurred may be determined, and the assets in the prediction pool are then distributed proportionally among the shares associated with the winning outcome. A portion of the assets in the pool may be retained by Gelotto (e.g., distributed to the SATH contract, NFT holders, the Grand Prize Game wallet, etc.) and/or provided as payment to users that serve as “jurors” (described below).
The Prediction Market will include a unique outcome resolution module that offers different options for the resolution of outcomes:
A smart contract that leverages an existing blockchain-based oracle
A smart contract that allows administrative users to resolve and set outcomes
A smart contract that engages "Verdict", Gelotto’s Human Oracle Protocol (described below) in which a group of users (a “jury”) uses a social decision-making process to resolve an outcome
A game smart contract that resolves outcomes as a side-effect of gameplay – for example, a prediction market may include outcomes relating to the winner, loser, score, or other aspect of a separate game, and the outcome may be automatically determined from the game smart contract
Of note, use of option 2 or 3 would enable resolving outcomes for any manner of prediction, including types of information that are unable to be determined using oracles.
Animal Racing
In conjunction with the creation of dynamic NFTs having modifiable metadata (described below), Gelotto will deploy an Animal Racing game on the Stargaze network to showcase this feature.
NFTs that represent animals may be acquired, each NFT having associated metadata that represents characteristics of the animal. When a racing event occurs, the characteristics of each NFT taking part in the event, in combination with characteristics of other event-related NFTs (such as NFTs representing racing tracks, durable or consumable items, and the like), and generated randomness (sourced from Nois network or using Gelotto’s own backend process) will determine the outcome of the event. Users will be able to place bets on the outcome of these events.
The characteristics of the NFTs that represent animals may change dynamically as the NFTs are used to participate in racing events, or as other NFTs are used to augment the animal NFTs. For example, other NFTs may represent consumable items such as food, medicines, drugs, and so forth that may cause positive or negative changes to various characteristics of the animal NFT.
Gelotto Monsters Unleased (a.k.a. "Beast")
Gelotto Monsters Unleashed, described in Gelotto's second whitepaper, will be a cryptocurrency-based play-to-earn game centered around the collection and modification of virtual creatures, represented by dynamic NFTs with changeable metadata that represents the characteristics of the creatures. Initially, an NFT representing an egg is acquired by a player. The attributes of the egg may be modified using other NFTs, such as NFTs representing potions. The egg may eventually be hatched which modifies the characteristics of the egg NFT to effectively convert the egg NFT into a creature NFT. The creature NFT may similarly be improved, evolved, and so forth using other NFTs.
The attributes of an NFT are represented by metadata at a location indicated in the NFT data itself and are modified using a smart contract that first verifies that a user owns both NFTs (the creature NFT and the NFT being used to modify the creature), and that other in-game requirements are met. This process effectively uses NFT ownership as an access control list (ACL) for executing smart contracts to modify metadata.
Creature NFTs may be used to battle other creatures or computer-generated opponents, participate in other competitive or non-competitive tasks, and/or as part of a breeding smart contract to produce new egg NFTs.
A unique token for this game, the beast token (BEAST), will be used as the in-game currency for purchase of NFTs, participation in various activities (such as betting on the outcomes of battles or other events), and may be earned through gameplay or sale of in-game assets. The GLTO token may be used as a governance token for voting to modify parameters of the game, and may be staked to earn BEAST tokens.
Gelotto Grand Prize Game (a.k.a. "GKEY")
When Gelotto first entered the cryptocurrency scene and the GLTO token was airdropped, a limited-supply secondary asset, GKEY, was also created. GKEY was able to be acquired through various events, games of chance, staking with Gelotto’s validators, holding GLTO tokens, and owning Gelotto NFTs.
During Gelotto’s first year, a portion of the revenue from all Gelotto games was placed into a wallet to be used to purchase prizes for a massive Grand Prize Game, where GKEY tokens would be used to attempt to acquire large prizes, such as sums of Bitcoin, Ethereum, other cryptocurrency assets, and even real-world assets.
At the time Gelotto began development, it was believed that cryptocurrency investment and gambling were a natural pairing, especially given the business model of the Cosmos/IBC ecosystem. Holders of Cosmos/IBC assets were essentially receiving “free money” each day in the form of staking and liquidity pool incentives, and we believed that investors across the Cosmos would enjoy using these incentives to play games of chance, such as by spending a little bit each day to play a lottery game.
We overestimated the propensity of cryptocurrency investors to gamble. The majority of cryptocurrency investors, while avid speculators, are not gamblers at heart. Investing a dollar in a cryptocurrency token that goes down in price still leaves the investor with a fraction of his initial investment, and tokens that may one day increase in price again, especially if those tokens are earning a staking APR in the interim. However, spending a dollar on a lottery ticket that has a very small chance of winning a large jackpot has a large chance of that investor spending his dollar, then walking away with zero. This turned out to be unpalatable to most cryptocurrency investors. There is a large market for games of chance, but the overlap between this market and cryptocurrency investors is smaller than most people would think.
Additionally, shortly after Gelotto began development, cryptocurrency entered a bear market, which led to most investors taking defensive positions with their assets, rather than feeling rich, generous, and adventurous.
In short, Gelotto's games have not yet generated the revenue necessary to fund the GKEY Grand Prize Game, and the target date for the Grand Prize Game has been moved to the end of 2024.
However, Gelotto has continued to build, develop, and ship products during the bear market. With many more games under Gelotto’s belt and cryptocurrency on the cusp of what may be the next bull market, we are optimistic regarding this goal.
When the Grand Prize Game is released, the vision is to present a series of “locked chests”, each representing an unknown prize. A small amount of GKEY may be used to open a first chest (resulting in the GKEY being burned), with each subsequent chest requiring a larger amount of GKEY to open.
The Grand Prize Game may involve a social aspect, with players teaming up to pool GKEY when a larger amount is required to open chests, building tools to facilitate trust, and so forth. The game may include an option for a participant to burn a small amount of GKEY to learn a prize contains in a locked chest without spending a larger amount to open the chest, however this option may become progressively more expensive with each use during the game.
Other Casino-Style Games
In the future, Gelotto intends to deploy casino-style games such as video poker, slots, roulette, blackjack, dice games, and more. However, given the propensity of cryptocurrency investors to prefer speculation over gambling (where a loss is possible), other tooling and applications may be prioritized.
Current web3 Tooling
Introduction
In addition to its games of chance, Gelotto has created a variety of tooling, applications, and infrastructure. This tooling has typically been a by-product of the development of Gelotto’s games, however the large majority of Gelotto’s tooling is independently useful for a variety of purposes.
Staking as the House (SATH)
Staking as the House (SATH) is a revenue and expense-sharing platform, regarded as the core of Gelotto. Users are able to stake Gelotto tokens (GLTO) with the SATH smart contract, and various games and other applications interface with the SATH platform. SATH serves as a source of liquidity for these games and applications. For example, if a player wins a game of chance, tokens from the SATH platform are used to pay winnings to the player (taken proportionally from each user’s stake). If a player loses a game, the losses are paid into the SATH platform (added proportionally to each user’s stake). This process is similarly usable with any game or application where it may be desirable to share expenses or revenue among a group of users. (See Gelotto's SATH whitepaper for more information.)
Current Status
SATH is currently running on the Juno network
The platform uses the GLTO token, though use of other tokens is possible
SATH has seen extensive use, with over 300 wallets staking GLTO with the platform smart contract, and over 90 million GLTO tokens staked
Revenue generated by SATH was initially high due to continuously available, high-traffic games such as Mortal Koinbat, but has tapered somewhat since Mortal Koinbat was taken offline, with most of the current revenue being generated by GelottoMax
Future Plans
Migration of the SATH platform from Juno to Injective, which should result in faster transactions and lower transaction fees
Deployment of SATH on other networks (current plans include Stargaze, Archway, and Kujira) using the native tokens of those networks. This will be done in conjunction with the deployment of games on those networks, played using those networks’ native tokens
Enabling third party applications to access selected portions of SATH liquidity for various purposes as potential additional sources of revenue
Creation of new games, and applications other than games, that provide revenue to users of the SATH platform
NFT Rewards Sender
Many of Gelotto’s NFT collections (described below) allow holders to receive a portion of revenue generated by the Gelotto platform, or other types of revenue distributions. To facilitate distribution of this revenue, Gelotto has developed an NFT Rewards Sender tool and has made this tool available for third party use. The tool identifies the wallet addresses of holders of a particular NFT collection and distributes assets to these holders.
Current Status
A user inputs the contrat address of an NFT collection on the stargaze network (other networks are possible)
The reward distributor determines the wallet address of each holder and enables the user to exclude selected addresses from receiving rewards
Assets for distribution are sent to the reward distributor contract
Corresponding wallet addresses for other networks are determined for each non-excluded NFT holder
Assets are distributed to each NFT holder as a batched transaction to reduce network fees
Future Plans
Possible adaptation of this tool for use with other networks
Possible adaptation of this tool for distribution based on other qualifications, such as holding particular quantities of assets, similar to an airdrop tool
Smart Contract Deployment Tool
In preparation for deployment of a prediction market, human oracle platform, and on-chain communication platform on the Archway network, Gelotto developed a tool to easily deploy smart contacts to Archway, and has also adapted this tool for use with the Juno network. The tool was initially used only internally by the Gelotto team, but at the time of writing this document, a demo version of the Contract Deployment tool has been released for additional testing and demonstration purposes.
Future plans include adapting this tool for use with other networks and expanding the functionality of the tool to enable Instantiation, Migration, Execution, and Querying operations.
User Account/Community Tooling
In preparation for creation of a Gelotto credit system and deployment of Gelotto Threads, Gelotto has created a Community/User Account feature that enables selection of a user name, NFT avatar, and other social information (such as websites and social media contact information) for inclusion in a user account that is associated with a user’s wallet address.
This feature is currently implemented on the Juno and Archway networks but is planned to be deployed on Injective when the GLTO token and main Gelotto SATH contract are migrated. Deployment on other networks is also possible.
As additional applications, such as Gelotto’s human oracle platform, on-chain communication platform, and credit system are deployed, additional data may be associated with a user account, such as human oracle voting statistics, interactions with communications by the user, and so forth. Users that exhibit positive interactions with the Gelotto platform may be provided with incentives or advantages, such as reduced fees, while users that exhibit malicious or abusive actions may lose such advantages or incur penalties.
"Gelotto Threads"
Gelotto Threads is an on-chain communication platform that permits users to post content (text, links, images, videos, and even certain types of applications), vote to indicate positive or negative sentiment toward various content, send tips to content creators, and more. Originally intended for use with Gelotto’s planned Human Oracle platform (to enable users of the Human Oracle platform to communicate, exchange evidence and information, etc.), Gelotto Threads is also useful as a stand-alone application, such as for discussing cryptocurrency governance (as an alternative to various web2 forums that are used), and various cryptocurrency community issues (as an alternative to various web2 social media platforms).
Current Status
A demo version of Gelotto Threads has been launched on Juno and Archway
Users are able to create user accounts, select user and display names, select an NFT (specified by collection address and token number) for use as an avatar, provide social media and other contact information
Users are able to post content of various types including but not limited to text, images, video, links, NSFW content (with the content obscured until other users opt-in by selecting to remove the obscurement). Each post is a separate smart contract
Users are able to delete their posts in a subsequent transaction
Users are able to upvote and downvote content, post replies to content (replies are nested in the same smart contract thread), and send tips to content creators
Threads may be searched using #hashTags included in the threads
The display of threads may be organized based on newness, user votes, or number of replies
Users may flag threads as “Saved Posts” for future access
Each post includes controls to copy a link to the post, which may be included in other posts or used to share the post in other media
Certain types of actions, such as upvotes, downvotes, and flagging threads as saved posts may be batched to reduce transaction costs. For example, a user may select a large number of upvotes and downvotes, then click a button to execute the selected votes as a single transaction
Future Plans
Solicit user feedback during this testing period and address bugs and make changes to improve the user experience
Add sections, such as community or topic-based collections of threads, for better organization and ease of access
Add improved search, content, and other functionality
Deployment on other networks (current plans include Injective and possibly Osmosis)
Other Auxiliary Contracts
Ancillary to its games of chance, Gelotto has developed a variety of general-purpose contracts that are open-source and available to other developers Examples include:
A general-purpose access control list (ACL) contract with a group administration policy. (Determines who can access which games and contracts.)
A general-purpose “database table” contract for managing and viewing collections of other smart contracts. (Used for maintaining, organizing, and querying large collections of contracts, such as multiple NFT raffles, lottery games, and sports squares games.)
A custom “player” smart contract with user profile and multi-token rewards & claims functionality. (Used for reward distributions and ties into the user account/community tooling described above.)
Tools for detection and deterrence of spam and bots
While these tools are currently open-source, future plans include creating front-end interfaces to make one or more of these tools more easily accessible for third-party use.
Future web3 Tooling
Introduction
Many of Gelotto’s planned developments fall outside the realm of what would be termed “games”, but are still potential sources of utility, entertainment, and revenue. Additionally, in conjunction with the development of games and applications, the associated contracts and tooling to make these deployments function properly and improve the user experience will also be developed.
"Verdict" - a Human Oracle Platform
Originally intended for use with Gelotto’s Prediction Market (described above), “Verdict” enables human users to vote to resolve outcomes, such as by indicating occurrence of a real-world event that is the subject of a prediction pool. Use of human users for this function would enable the Prediction Market to include pools focused on predictions that may not be able to be resolved using existing cryptocurrency-based oracles.
The “Verdict” platform is also separately useful for a variety of other purposes, such as empowering human jurors to verify completion of tasks prior to payment, resolve disputes, and so forth.
When creating a prediction pool, or another type of project for which resolution using human jurors is appropriate, the creator may specify a number of jurors, a portion of the pool or project assets to be used to pay fees to jurors, and criteria or requirements for the jurors (such as a rating, score, number of previous votes in which the juror participated, etc.)
Jurors will access an interface to cast votes
Jurors may use the “Gelotto Threads” communication platform (described above) to discuss events and exchange information and evidence
Users that participate as jurors will receive a fee for voting, which will typically be a portion of the revenue associated with the prediction pool or other project
Jurors may be rated or scored in a variety of categories, such as accuracy of votes, promptness of votes, and so forth. For example, a history of long-term, accurate voting may entitle a juror to a larger portion of revenue or other benefits on the Gelotto platform, while jurors who vote inaccurately may receive reduced incentives or other penalties. A user’s score may affect other aspects on the Gelotto platform such as fees, access to games, etc.
While the Human Oracle Platform will first be deployed on Archway to be used with Gelotto’s Prediction Market, future plans include deployment of this platform on other networks if demand exists.
NFT Fragmentation
Gelotto’s NFT Fragmentation platform will enable an owner of an NFT, or a group of NFTs, to provide the NFT(s) to a smart contract and create a selected number of fractional shares (e.g., "fragments") that represent partial ownership of the NFT(s). For example, an expensive NFT may be divided into 1000 shares, each tradeable for 1/1000th of the price of the expensive NFT.
This tooling may work in conjunction with other tooling, such as reward distribution and consensus tooling. For example, distribution of yields or rewards associated with an NFT may be divided and distributed to different wallets based on ownership of the fragments associated with that NFT. In cases where owners of the majority of the fragments wish to sell an NFT, tooling may be created to allow this consensus to be determined, and once sold, to distribute the revenue associated with the sale based on ownership of the fragments.
This tooling is intended for deployment on the Stargaze network, and potentially other networks with established NFT platforms.
Dynamic NFTs
In conjunction with deployment of the Animal Racing and Gelotto Monsters Unleashed games (described above), Gelotto will develop a series of dynamic NFTs with changeable attributes, represented by metadata at a location indicated in the NFT. The metadata may be modified using a smart contract verifies ownership of the NFT and that any other requirements to modify the NFT are met, effectively using NFT ownership as an access control list (ACL) for executing the smart contract to modify the metadata.
As one example use, a dynamic NFT may represent a creature or character associated with a game, that creature or character having attributes represented in the metadata for that NFT that affect the outcomes of various game events. The attributes may be modified as a result of various game events, such as to represent improvement of the creature or character or negative consequences associated with game events.
Gelotto Credit System
To facilitate participation in Gelotto’s games and use of other Gelotto applications across multiple networks, Gelotto intends to develop a credit system through which users may spend cryptocurrency assets (such as GLTO tokens, though other assets may be possible) to receive Gelotto credit. Gelotto credit may be spent to participate in games or use applications, potentially won based on game outcomes, and cashed out to receive GLTO (or possibly other cryptocurrency assets).
Gelotto credit may be associated with a user account (described above), which would eliminate the need for a separate credit token.
Use of Gelotto credit may enable participation in games, or use of Gelotto applications, without requiring payment of network fees. For example, a user may execute a single transaction to acquire Gelotto credit, and may then use the Gelotto credit seamlessly, while any transactions associated with the actions taken by the user are executed by Gelotto’s back-end without requiring manual execution and payment by the user.
Gelotto Tokenomics
Introduction
After the airdrop of the Gelotto token (GLTO) in June of 2022, Gelotto has added multiple applications through which the GLTO token may be spent, acquired, or staked. Shortly after the project began, Gelotto also created the Gelotto Keys (GKEY) token for use in the upcoming Grand Prize Game (described above).
While it is intended that the GLTO token remain the primary token used for participation, revenue, and eventual governance on the Gelotto platform, other secondary assets may be released for use with specific games or applications, such as the BEAST token for use with the Gelotto Monsters Unleashed game (described above).
Gelotto Token (GLTO)
Current Status
Currently a CW token on the Juno network
Usable to participate in any of the games described in the “Current Games” section of this document
Usable with the Staking-as-the-House platform (described above)
Tradeable on Osmosis Dex (Pool 778)
Future Plans
Migration to the Ethereum network:
An Ethereum version of the GLTO token will be minted (having the same max supply as the original GLTO token)
A wrapped version of the new GLTO token (native to the Injective network) will be created by bridging the new GLTO token using the Injective bridge
On a selected date, a snapshot of the Staking-as-the-House contract will be taken and deposits and withdrawals will be disabled
A new Staking-as-the-House contract will be created on Injective with wrapped versions of the new GLTO token associated with the Injective wallet for each user included in the snapshot
A tool will be created to enable holders of original GLTO tokens to exchange these tokens for wrapped versions of the new GLTO token (the ability to exchange original GLTO tokens for the non-wrapped Ethereum version of the GLTO token may be created as well)
One or more incentivized liquidity pools for the new GLTO token will be created on the Ethereum network (most likely on Uniswap)
One or more incentivized liquidity pools for the wrapped version of the GLTO token will be created in the Cosmos/IBC ecosystem (most likely on Osmosis, Astrovault, Kujira)
Additional uses for GLTO:
Additional games that use GLTO
Incorporation into Gelotto Threads as an asset usable for tipping
Governance (the SATH contract may function as a DAO)
In the more distant future, GLTO may migrate to its own chain if and when it makes logical and financial sense to do so
Gelotto Keys (GKEY)
Current Status
Currently a CW token on the Juno network with limited supply (Max supply of 1000)
Will be usable to participate in the 2024 Gelotto Grand Prize Game (described above)
Tradeable on Osmosis Dex (Pool 790)
Future Plans
Deployment of the Grand Prize Game toward the end of 2024
Possible migration of this token to the Ethereum network if it makes logical or financial sense to do so
After the 2024 Grand Prize Game, other grand prize tokens will be created and distributed as incentives to holders and liquidity providers of various Gelotto Assets
GKEY that is not used in the 2024 Grand Prize Game may provide a benefit in a future grand prize game
Beast Token (BEAST)
Current Status
- Not yet deployed but intended for use with the Gelotto Monsters Unleashed (“Beast”) game (described above)
Future Plans
Deployment of the Gelotto Monsters Unleashed game in mid 2024
This token may be deployed on the Ethereum network and a wrapped version of the token may be created using the Injective bridge for use in the Cosmos/IBC ecosystem
Possible distribution as incentives for holders and liquidity providers of various Gelotto assets
Gelotto NFT Collections (and other Collections Affiliated with the Gelotto NFT Label Project)
Introduction
Since the creation of Gelotto, NFTs have been an integral part of the platform. Ownership of certain NFTs enables holders to receive a portion of the revenue from various Gelotto games and applications, and future NFT collections may enable holders to receive portions of revenue from Gelotto validators or NFT royalties. NFTs may also enable holders to receive access to various features and events associated with the Gelotto platform, and various benefits for certain games, applications, or events.
Gelotto has also launched an NFT label service through which the Gelotto team, having extensive experience developing and deploying NFT collections, helps other NFT artists launch collections, increase sales, add benefits for holders, and so forth. Future plans include helping real-world artists that may not have experience with NFTs (or cryptocurrency in general) incorporate NFT collections (both visual and audio) into their business plans.
Gelotto NFT Collections
Gelotto Series 1
Launched on Stargaze network, may be traded on the Stargaze marketplace
Artwork features anthropomorphic ice cream cones with a variety of clothing and facial features, many of these features being cryptocurrency, Cosmos, Juno, Gelotto, and 420-themed
1% of Gelotto game revenue is divided among holders of Gelotto Series 1 NFTs
Holders of Gelotto Series 1 NFTs receive “VIP” status on the Gelotto platform and access or reduced prices for various events, such as special VIP poker games
This collection originally included 1000 NFTs but did not mint out. The unminted NFTs were burned, reducing the total supply to 837
10 NFTs in this collection were designated as “owner” NFTs and feature anthropomorphic ice cream cone versions of characters from the popular anime series “One Piece”. An additional 1% of Gelotto revenue is divided among all owner NFTs, and holders of owner NFTs are intended to receive access to special events and features on the Gelotto platform
Gelotto Series 2
Launched on Stargaze network, may be traded on the Stargaze marketplace
Artwork features pixelated, animated, anthropomorphic ice cream cones with a variety of clothing and facial features, many of these features being cryptocurrency, gambling, and drug-themed
1% of Gelotto revenue is divided among holders of Gelotto Series 2 NFTs
Holders of Gelotto Series 2 NFTs receive “VIP” status on the Gelotto platform and access or reduced prices for various events, such as special VIP poker games
This collection includes 420 NFTs
10 NFTs in this collection were designated as “owner” NFTs and feature pixelated, animated anthropomorphic ice cream cone versions of characters from the popular anime series “One Piece”. An additional 1% of Gelotto revenue is divided among all owner NFTs, and holders of owner NFTs are intended to receive access to special events and features on the Gelotto platform
Gelotto Series 3
Launched on Stargaze network, may be traded on the Stargaze marketplace
Artwork features women with fanciful outfits, backgrounds, and accessories, many of which are ice cream, gambling, or sexually-themed
1% of Gelotto revenue is divided among holders of Gelotto Series 3 NFTs
Holders of Gelotto Series 3 NFTs receive “VIP” status on the Gelotto platform and access or reduced prices for various events, such as special VIP poker games
This collection includes 69 NFTs
10 NFTs in this collection were designated as “owner” NFTs and feature fanciful versions of characters from the popular anime series “One Piece” with ice cream and gambling-related elements. An additional 1% of Gelotto revenue is divided among all owner NFTs, and holders of owner NFTs are intended to receive access to special events and features on the Gelotto platform
Mostro Del Gelotto
Originally launched on Teritori network but migrated to Stargaze network, may be traded on the Stargaze marketplace
Artwork features AI drawings that blend ice cream with various monsters and animals
This collection includes 214 NFTs
This collection also includes monster-themed depictions of members of the Gelotto team
Cream Queens
Launched on Stargaze network, may be traded on the Stargaze marketplace
Distributed through a raffle-style airdrop to holders of other Gelotto NFTs
Artwork features AI drawings of different styles of women with various ice cream-themed elements. The collection originally included some NFTs with superhero-themed elements, but these were removed due to delisting of the collection by the Stargaze copyright bot
This collection includes 358 NFTs
Gelotto Football League 2023
Launched on Stargaze network and may be traded on the Stargaze marketplace
Artwork features fantasy-themed versions of football players, depicted on a trading card, divided into four cryptocurrency-based teams (STARS, KUJI, JUNO, ARCHWAY)
These NFTs were used in conjunction with Gelotto’s 2023 fantasy football league, with holders of NFTs associated with teams that won fantasy competitions winning prize pools
This collection includes 108 NFTs
Gelotto Spooky Stamps
Launched on Stargaze network, may be traded on the Stargaze marketplace
Distributed through a raffle-style airdrop to holders of other Gelotto NFTs
Artwork features various women, monsters, ice cream cones, and lighthouses with various Halloween-themed elements
This collection includes 300 NFTs
Gelotto Ruby Deck & Gelotto Sapphire Deck
Originally Launched on Juno network via Loop marketplace and migrated to Stargaze network, may be traded on the Stargaze marketplace
Artwork features women, men, and monsters with fantasy and ice cream-themed elements, depicted on an animated playing card that is red (for Ruby Deck) or blue (for Sapphire Deck)
These NFTs entitle holders to access or reduced prices for various Gelotto poker events
Each collection includes 54 NFTs
Gelotto Discord Casino (S1) & (S2)
Launched on Stargaze network, may be traded on the Stargaze marketplace
Artwork for each Season 1 NFT featured a futuristic cityscape that includes a Gelotto casino. Each Season 2 NFT features an animated shelf containing Gelotto-themed crystals and a Gelotto snow-globe
These NFTs entitle holders to participate in the corersponding season for Gelotto’s Discord casino games, with various prizes
These collections were open-edition mints
Gelotto Masterpiece (#1, #2, #3, and #4)
Launched on Stargaze network, may be traded on the Stargaze marketplace
Artwork for each of these collections features anthropomorphic ice cream cones with monster-like features
These NFTs are intended to have a secret use not yet disclosed by the Gelotto team, but hints have been made that this use may be associated with the 2024 Grand Prize Game
These collections were open-edition mints
Collections Affiliated with Gelotto NFT Label Project
The Fortunate Few ("Fortunate Few Staking Club (FFSC)")
Part of the Gellotto NFT Label Project (not launched by the Gelotto team)
Launched on Stargaze network, may be traded on the Stargaze marketplace
Artwork includes backgrounds previously used for Gelotto Legacy Lottery Games
Rather than being available through a conventional mint, these NFTs are made available, one per week, to be won using the Gelotto NFT Raffle game
Revenue from raffled NFTs is used to purchase various cryptocurrency assets that are held, staked, or placed in liquidity pools in a manner voted on by holders of the NFTs
Revenue generated by the purchased assets is periodically distributed to holders of the NFTs
This collection has a maximum supply of 150 NFTs
FFSC League of Shadows ("LOS")
Part of the Gellotto NFT Label Project (not launched by the Gelotto team)
Launched on Stargaze network, may be traded on the Stargaze marketplace
Artwork includes hooded figures depicted with various fantasy or futuristic elements
Ownership of these NFTs enables holders to participate in raffles for various prizes such as other NFTs or cryptocurrency tokens
This collection includes 149 NFTs
777
Part of the Gellotto NFT Label Project (not launched by the Gelotto team)
Though launched on Stargaze network and may be traded on the Stargaze marketplace, the original 777 collection was associated with the Luna Classic network and affected by the crash of 2022
Artwork includes men depicted with various outfits, hats, masks, and weaponry
A portion of the GLTO tokens that are staked-as-the-house are owned by this collection. Ownership of these NFTs enables holders to receive a share of revenue generated by the staked GLTO tokens
This collection includes 2000 NFTs
TAOC - Noble Knights
Part of the Gellotto NFT Label Project (not launched by the Gelotto team)
Launched on Stargaze network, may be traded on the Stargaze marketplace
Artwork includes knights with various styles of armor and weaponry
This collection includes 4999 NFTs
Rebels
Part of the Gellotto NFT Label Project (not launched by the Gelotto team)
Launched on Stargaze network, may be traded on the Stargaze marketplace
Artwork includes astronauts clothing, weaponry, and space-themed backgrounds
This collection includes 3728 NFTs
Rebels: Wolfhunters
Part of the Gellotto NFT Label Project (not launched by the Gelotto team)
Launched on Stargaze network, may be traded on the Stargaze marketplace
Artwork includes anthropomorphic wolves with various weaponry, clothing, facial features, and themed backgrounds
Periodic raffles are conducted in which owners of a selected number of NFTs having selected traits are eligible to win prizes
This collection includes 550 NFTs
Rebels: Sirens
Part of the Gellotto NFT Label Project (not launched by the Gelotto team)
Launched on Stargaze network, may be traded on the Stargaze marketplace
Artwork includes females with various sea creature features depicted in underwater backgrounds
Holders and/or stakers of this collection may be eligible for airdrops and other benefits
This collection includes 1500 NFTs
Werewolves- Blood Tribe
Part of the Gellotto NFT Label Project (not launched by the Gelotto team)
Launched on Stargaze network, may be traded on the Stargaze marketplace
Artwork includes anthropomorphic wolves with various fur, eye, and clothing features, monster companions, and themed backgrounds
Periodic raffles are conducted in which owners of a selected number of NFTs having selected traits are eligible to win prizes
This collection includes 1426 NFTs
Orrible Orcs & Ogres (OOO)
Part of the Gellotto NFT Label Project (not launched by the Gelotto team)
Launched on the Solana network, may be traded on the Magic Eden marketplace
Artwork includes orcs with various skin colors, weaponry, and headgear
This collection includes 1303 NFTs
Future NFT Plans
Gelotto intends to continue to expand its NFT label project by helping new and existing NFT projects to create collections, increase sales, and tie revenue/yield-generation and other use cases to NFTs. One example use case may include the creator of a collection staking GLTO tokens using Gelotto’s Staking-as-the-House platform (possibly staking revenue generated from mints, royalties, etc.) and distributing revenue from the SATH platform to holders of NFTs.
The NFT label project may also target artists who are not extremely savvy regarding NFTs or cryptocurrency and assist these artists in adding NFT collections that feature their artwork to their business model.
Gelotto itself may release additional NFT collections for access to various games and events, or that are associated with new games. For example, the Gelotto Monsters Unleashed and Animal Racing games described above will utilize a large number of NFTs that represent creatures, consumable items, durable items, and so forth.
In the future, Gelotto may also consider revenue-generating NFT collections similar to the Gelotto Series 1-3 collections, but focused on Gelotto’s validators and NFT projects. For example, while holders of Gelotto Series 1-3 NFTs receive revenue associated with Gelotto’s games, other NFT collections may similarly receive a share of the revenue associated with Gelotto’s validators or with mints and royalties for the sale of NFTs.
Gelotto Validators
Current Validators
At the time this document was written, Gelotto operates 15 validators within the Cosmos/IBC ecosystem. These include the following networks:
Atom (currently not in active set)
Future Plans
For any of the above validators, incluidng those that are not currently in the active set, Gelotto may request a delegation from the community pools or other appropriate bodies for these networks in exchange for deployment of various Gelotto applications (such as Gelotto Threads, Contract Deployment Tools, various games, etc.) In situations where this is unable to occur or is not a logical extension of Gelotto’s applications, Gelotto may take one or more non-profitable validators offline to conserve costs.
As new Cosmos/IBC networks are created, Gelotto may continue to expand its validator set. Additionally, Gelotto intends to expand into other ecosystems, such as Ethereum and Avalanche, and where logically and financially feasible, Gelotto may pursue validation in those ecosystems as well.
Conclusion
If you’ve read this far, we will give an honest summary of the progress and shortcomings of Gelotto to date, with no flowery language, pulling no punches. Consider it a bonus for slugging through this document.
In a year and a half, Gelotto has built 5 games of chance, a large number of contracts and associated tooling to support these games (many of this tooling having stand-alone utility), a novel staking-as-the-house revenue/expense-sharing platform, reward-distribution tooling, contract deployment tooling, and has just recently deployed an alpha version of an on-chain communication platform. Gelotto has also released 15 NFT collections (and partnered with 9 other collections through the Gelotto NFT Label project), and operates 15 validators in the Cosmos/IBC ecosystem.
We have no intention of stopping.
Cryptocurrency-based gaming is believed by many analysis to be the most “up-and-coming” crypto sector for the next bull market, with gambling-style games likely to be the most popular.
However, Gelotto has also had its share of speedbumps and shortcomings.
While Gelotto is “in the black”, the project has not made enough revenue to hire additional engineers/coders, engage a law firm to generate an official business entity, or hire marketing personnel. With the limited number of hands working, many projects and fixes have been delayed in favor of other projects. For example, both the Mortal Koinbat and GelottoMax games were initially targeted by malicious actors, and while these exploits were quickly addressed, the Mortal Koinbat game remains off-line pending additional fixes to the user interface.
While it would seem like cryptocurrency investors and games of chance are a natural pairing, many cryptocurrency investors are not gamblers at heart. The idea of spending cryptocurrency tokens to play a game where loss is likely, and potentially walking away with zero, is untenable to many investors. As a result, Gelotto games have not yet generated sufficient revenue to fund the Gelotto Grand Prize Game. Going forward, Gelotto’s focus may shift somewhat from games of chance to general-use applications that may be more utilized in the cryptocurrency space. However, long-term, it is Gelotto’s vision to deploy games of chance that are easily accessible to users outside of the cryptocurrency space, who may interact with a website or mobile app while cryptocurrency transactions happen invisibly, behind the scenes – players may not even know they’re interacting with crypto and may simply feel like they’re using a familiar website or application.
While Gelotto has many ambassadors on its team to spread awareness about the project and various events, the Cosmos/IBC ecosystem is only one small slice of the cryptocurrency sector. Trading volume and liquidity for the GLTO token is small, which has prevented GLTO from being listed on CoinGecko and similar sites. The absence of a listing has likely limited knowledge and interest in Gelotto’s cryptocurrency assets.
Big picture, the vast majority of cryptocurrency projects focus heavily on the price of a token and, being perfectly honest, don’t do much and aren’t very useful. The number of crypto networks barely using a tiny fraction of their available blockspace make it very clear that only a very tiny number of applications have large numbers of customers and generate enough revenue to pay the bills.
Gelotto has multiple working products, a dedicated community, and while we aren’t rich yet, Gelotto is in the black. It makes positive revenue. The business model works. It simply needs to be scaled, and as building continues and the community grows, this is likely to happen.
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