FNCY: Brings Entertainment to the Metaverse

FNCY’s blockchain infrastructure is designed to popularize the Web 3.0 era, providing a platform and infrastructure that continues to evolve to build trust-based, scalable, cost-effective, and easy-to-use applications.

FNCY: Brings Entertainment to the Metaverse

Gaming has grown at a rate beyond comprehension, especially with the development of blockchain technology in recent years. We are seeing more and more gaming companies joining the paradigm shift from Web2 to Web3, with large companies like Netmarble F&C leading the way as one example of Web2 transforming into Web3 and bringing us to FNCY, powered by NodeReal’s Semita.

In this blog, we’d like to take you through the journey and how NodeReal “Make your Web3 REAL”.

TL;DR

  • FNCY’s blockchain infrastructure is designed to popularize the Web 3.0 era, providing a platform and infrastructure that continues to evolve to build trust-based, scalable, cost-effective, and easy-to-use applications.
  • Dec, 2, 2022, FNCY launched its mainnet, marking a turning point in realizing “Blockchain in Everyday Life”.
  • For FNCY to achieve its mission, a blockchain infrastructure with the advantages of sovereignty and scalability is key.
  • FNCY blockchain adopts the technology of BNB Application Sidechain. The structure design, implementation and maintenance are powered by NodeReal’s Semita, a one-stop Application Chain solution designed to scale up your Web3.

Who is FNCY?

  • FNCY strives to be the Fancy’est blockchain of all time history that “makes your everyday life fancy”. Its vision is to realize ‘Blockchain coming down to everyday life’.
  • FNCY houses games, wallets, NFT marketplaces, and even entertainment such as webtoons and mixed media, basically everything in between, into a united platform.
  • FNCY rebranded itself from “CUBE” in the past October. The team behind “CUBE” is “Metaverse World”, a pioneer in GameFi, rooting back to 2018. Metaverse World, is a subsidiary of Netmarble F&C, formed in 2014, most known for The Seven Deadly Sins: Grand Cross, a mobile card-collecting RPG game with over 150 million cumulative downloads. Netmarble F&C, is a subsidiary of Netmarble, the famed Korean games publisher behind Lineage 2 Revolution.
  • More than just a name change from CUBE, FNCY marked a new turning point for its project - the Mainnet launch on Dec,2nd 2022.

Ecosystem Highlights

As the website of FNCY indicates, there are a lot of Games, DeFi, and Contents such as Meta Football in its pipeline. The following two NFTs were recently released in the FNCY Shop.

  • IRRIS’s First NFT: IRRIS is a new rising K-pop girl group presented by Taewon Entertainment.
  • BAGC NFT: a re-interpretation of the IP of BAYC, the biggest NFT project in the world that is beloved by celebrities around the world, with a golf theme.

With their attempt to bring masses to Web3 world, they launched their own marketplace and released NFT which is purchasable with a credit card.

  • FNCY Marketplace: A NFT p2p marketplace in FNCY is now open.
  • Terminal3: It allows users to purchase NFT with a credit card. Web2 users can now easily jump into the Web3 world without hassle. Note that availability varies by country.

Tokenomics

$FNCY is used as the native asset on FNCY blockchain and is used by network users to pay for nodes that process the requested operation. Its utilities include:

  • Gas Fee
  • Governance Staking
  • DeFi Main Currency
  • Digital Asset Purchase (NFT Marketplace) and Service Fees

1 billion $FNCY are created at Genesis Block (Epoch 0) for the swap of $ITAM CUBE tokens (before the rebranding, the token is called $ITAMCUBE) that existed on Ethereum and BSC chains. After that, 5 $FNCY will be minted per block and will be distributed according to the governance reward distribution plan. In total, a maximum of 2 billion coins will be issued.

Governance

The FNCY mainnet is based on the Proof-of-Staked-Authority (PoSA) consensus mechanism. Validators on FNCY chain can make new proposals and vote on those proposals. Voting power will be distributed according to the amount of $FNCY staking deposited in the system. Implementation of new proposals requires a quorum of ⅔ and a majority of 51% in favor.

FNCY chain started with 3 owned validators and once the platform enters the development and stabilization stage, it plans to expand it to a decentralized autonomous organization(DAO).

Roadmap

FNCY revealed a roadmap of the upcoming Games, Contents on its website.

  • Game: Games of diverse genres including battle, RPG, strategy, sports, etc. will be available soon, such as GrandCross G, Yokai Dual, Paragon: The Overprime, SoulWorker, Cookie Run
  • Contents: Entertainment content that anyone can enjoy, from FNCY Membership, casual gaming platform, and the new IRRIS NFT

Design & Structure

For FNCY to achieve its ultimate goal of creating a scalable and sustainable Web3 ecosystem where everyone can enjoy its service freely without facing the hurdle of blockchain technology, an enterprise-level scalable infrastructure is a must-have. It is essential for a stunning user experience, especially when it comes to “Blockchain coming down to everyday life”.

Scalability” and “Sovereignty”  are the top priorities.

FNCY went through all kinds of side chains but it found problems that it’s difficult to customize every onboarding service with traditional mainnet architecture and it weakens compatibility between the services.

Why Application Chain?

Application Chain, a scalable solution for large-scale blockchain applications, has emerged as an ideal solution to handle performance issues, and meet various specific requirements from ecosystems, applications, and developers.

  • High performance: The average TPS of Application Chains surpasses 1000, offering the ability for projects to remain high throughput and low latency with dedicated resources.
  • Customizability: Application Chain solution allows applications to have more flexibility to customize their own chains, from tokenomics, special gas model,  governance model, etc.

It perfectly resolves the two major concerns of FNCY,  as clearly addressed above, “Scalability” and “Sovereignty”.

The FNCY blockchain has adopted the technology of the BNB Application Sidechain and is designed to meet the specific requirements of FNCY tokenomics.

How is NodeReal Helping?

NodeReal’s Semita is a one-stop Application Chain solution that aims to scale up your Web3. We have worked closely with the FNCY team since day 1 thoroughly to cover multiple use cases. The Semita solution has served as a strong backbone by doing most of the technical heavy lifting, designing, and constructing an even more powerful application chain solution based on the BNBNApplication Sidechain (BAS) framework.

Semita provides abundant tools with white-labled services to ensure FNCY to be highly scalable whilst having custom configuration and 100% sovereignty.

  • A self-sovereign blockchain: Provides security and safety with elected validators
  • EVM-compatible: Supports all the existing Ethereum tooling along with cheaper transaction fees
  • Custom token economy: from block reward distribution, gas fee token, gas fee distribution, to gasless transactions, etc
  • Distributed with on-chain governance: Optimized Proof of Staked Authority (PoSA) brings in decentralization and community participants
  • Throughput Max 5,000 TPS
  • Cross-Chain Bridging: FNCY collaborated with Celer Network for the asset transfer across FNCY Chain and external chains such as ETH and BSC with Celer cBridge
  • Block Explorer: FNCY Scan provides real-time FNCY blockchain data and analysis of blocks, transactions, contracts, and accounts
  • APIs: Provides immediate and reliable  RPC endpoints and enhanced APIs for developers.

Reference

[1]https://whitepaper.fncy.world/

[2]https://medium.com/fncy/fncy-mainnet-launch-502944492e9f

[3]https://nodereal.io/blog/en/application-chain-a-scalable-solution-for-large-scale-blockchain-applications/