Original author: Bright, Foresight News
On the evening of May 26, Binance Wallet announced that the 19th TGE project is Elderglade (ELDE), and the event time is from 16:00 to 18:00 on May 27, 2025, and Alpha points are required to participate. An additional 16 million ELDE will be used for future activities. At the same time, ELDE will also be listed on Bybit Megadrop.
Elderglade is a retro pixel-style MMORPG (massively multiplayer online role-playing game) looting game, and became one of the first games to land on Line Dapp Portal. It adopts the strategy turn-based combat of classic RPG.
Elderglade is currently a PvP match-3 mobile game, which has quickly accumulated 3 million monthly active users. According to official disclosure, the daily matching volume exceeds 4 million times. Later, the Elderglade development team announced on social media that it would launch an immersive AI-driven MMORPG, such as AI-generated wilderness maps, AI intelligent NPCs with memories and personalities, so that each adventure experience is different and repeated monster spawning is rejected; there is also a turn-based strategy that combines Heroes of Might and Magic and the loot mechanism of Diablo, with the Animal Hero setting to create a differentiated experience; finally, through Kaia Chain, NFT assets are put on the chain and $ELDE tokens are circulated. Players can trade equipment, manage town buildings (such as taverns and blacksmiths), and even earn passive income through farm cards.
Elderglade claims that it has more than 11 million mobile users, more than the total of Axie Infinity, Pixels and STEPN. As the leading blockchain game supported by Kaia public chain, Elderglade has reached a wide range of East Asian (Japan, South Korea, Taiwan) and Southeast Asian markets with the help of Line, with players from Japan, Thailand and Taiwan accounting for more than 60%. At the same time, it claims to have a conversion rate of 20.5%, which is three times that of Candy Crush, AFK Arena and Genshin Impact. Monthly revenue is 1 million to 2 million US dollars, surpassing Star Atlas, Illuvium and Off the Grid. A total of more than 3.7 million transactions have been generated, exceeding the total of Decentraland and The Beacon. There are more than 7 million wallets in total, more than The Sandbox and Big Time. There is also an ARPPU of 7.11, surpassing PUBG and Clash of Clans, and a waiting list of MMORPGs before the launch of WoW Classic, New World and GW 2.
Elderglade was developed by W 3 Forge, a game development studio whose official website shows it has more than 20 employees. Financing information has not yet been disclosed.
The studio previously released a Web3 horse racing game called Zkrace in 2021.
$ELDE is the native utility token of the Elderglade ecosystem. It supports gameplay, trading, NFT minting, staking rewards, asset upgrades and other functions. Currently, in Elderglades match-3 mobile game, players can use $ELDE to purchase boosters and energy supplements, access advanced missions and special events, compete for leaderboard rewards and unlock limited-time bonuses, and monthly in-game transaction revenue has reached $300,000 to $500,000.
In response to the inflation and reward imbalance problems common in the Play to Earn model, Elderglade said it has adopted a relatively closed-loop economic model.
Token mechanism: The total amount of $ELDE is fixed, and it is destroyed through in-game consumption (such as upgrading equipment and purchasing tickets);
Diversified income: players can make profits through multiple channels such as competitive matching, completing daily tasks, inviting friends (referral program rewards 5,000 points), staking tokens, etc., with a balanced ratio of active gameplay and passive income;
AI monitoring and adjustment: The real-time data analysis system dynamically adjusts the reward pool and resource output to avoid over-production or reduction in returns and ensure long-term ecological health.
But in fact, the death spiral problem of the dual-token economics of the essence of chain games has not been truly solved. Elderglade, as the leading chain game on the Kaia public chain, mainly relies on the Line platform traffic matrix, and the forerunner of the social giant + Play to earn model is undoubtedly the Ton game ecosystem that was popular in 24 years. Compared with Telegrams nearly 1 billion user base and Tons mini-games with more than 20 million monthly active users, the Kaia ecosystem did not take the path of accumulating user volume, but instead learned from the experience of the spiral death of the Tap to earn mini-game, focusing on expanding the gameplay. According to the Elderglade report, its users are mainly medium and heavy players, with an average of 3 logins per day, a single session of 18 minutes, and a conversion rate of 20%.
However, the current market narrative of Gamefi has not yet broken away from the logic of gold farming drive. As the ancestor of retro style, MapleStory is also deeply mired in the contradiction between gold farming efficiency and user retention rate after Binance Wallet TGE. Can Elderglade fire the first shot of Kaia Chain? Or is it another scythe of chain games?
