This is not an exhaustive list of pros and cons, just a few that immediately come to mind - would love to hear other peoples thoughts.
Pros:
Better Liquidity for Tibia Coins: TIB tokens make it easier for players to convert Tibia Coins into real-world assets. Players can trade their gold for Tibia Coins (TIB) and then exchange TIB for a cryptocurrency that can be sold outside the game, creating more ways to cash out or transfer value.
Accessibility to Tibia Coins: Normally, buying TC requires buying limited quantities from tibia.com or by contacting a reseller. Using resellers requires manual transactions meaning that a person will need to be available to respond and to log in to send purchased coins. This also comes with negotiation and then requires a level of trust between transactors (or the use of a middleman, which can increase cost). TIB allows Tibia Coins to be purchased via swap protocols meaning no middleman and 24/7 instant service.
Attracting New Players (Crypto Fans): Blockchain and cryptocurrency are trending, and introducing TIB tokens could attract new players who are interested in games with real-world financial elements. It modernizes Tibia’s economy and draws in those familiar with crypto ecosystems. Numerous crypto-based games have risen and fallen, failing to attract players based on the crypto aspect alone. TIB allows crypto enthusiasts to see how a successful game can integrate blockchain technology in an effective way.
Monetary Incentives: Players now have the opportunity to make real money. TIB tokens can potentially be traded on external crypto exchanges, allowing players to cash out for traditional currencies or other cryptocurrencies like Bitcoin.
New Revenue Source for CipSoft: Every time players convert Tibia Coins to TIB tokens, CipSoft earns transaction fees. This gives the company a new way to profit while players benefit from more financial flexibility.
More Secure and Transparent Transactions: Blockchain technology is known for transparency. Every transaction is recorded on the blockchain, so players will always have a clear, traceable record of their trades, adding trust to the process.
Cons:
Complicated for Casual Players: The system is more complex than just buying Tibia Coins with real money. It involves understanding cryptocurrencies, managing digital wallets, and paying blockchain fees. This might turn off players who aren't tech-savvy.
Blockchain Fees: Although minimal on Binance Smartchain, converting Tibia Coins to TIB tokens requires paying gas fees (a transaction costs) in Binance Coin (BNB). This adds an extra step and cost that players must manage beyond just their Tibia Coins. The cost is extremely small on BNB chain but for players with no crypto experience there will be a learning curve.
Risk of Losing Tokens: If a player loses access to their cryptocurrency wallet or is unfamiliar with basic crypto security, their TIB tokens are gone, and CipSoft already confirmed they cannot help. This creates a security risk that wasn’t present with just using traditional Tibia Coins.
Crypto Regulation Issues: Cryptocurrency is still regulated differently around the world. Some players in certain regions might face restrictions or complications in using or exchanging their TIB tokens for real-world currencies.
Shifts Player Focus Away from Gameplay: Adding a financial trading layer might change how players engage with the game. Instead of focusing on quests and exploration, some players may be more concerned about the value of their TIB tokens, shifting attention from the actual gameplay.
TibiaQA.com is a fansite. Please note that the only official website is Tibia.com. The game Tibia and the website Tibia.com are copyrighted by CipSoft GmbH.
