In May 2025, the crypto market reignited with fervor.
Bitcoin surged past $110,000 to hit a new all-time high. Ethereum posted a 40% gain in a single month. On-chain liquidity returned, and centralized exchanges saw a resurgence in trading volume. On a macro level, the easing of U.S.-China trade tensions, improving global risk appetite, and the launch of crypto ETFs brought renewed institutional confidence. Capital once again flowed aggressively into digital assets.
The defining theme of this bull cycle? Utility is back.
Major players like Binance and OKX have doubled down on on-chain ecosystems through products like Alpha and Wallet, sparking a fresh wave of interest in DeFi and GameFi. Once labeled “a failed experiment,” blockchain gaming is regaining momentum thanks to rising stars like MapleStory Universe, Elderglade, and Puffverse.
This resurgence is no accident. As early as Q1 this year, Bernstein pointed out that the past two years of regulatory tightening had temporarily diverted capital toward hype-driven assets like meme coins. Now, with a more stable regulatory environment and monetary easing in play, liquidity is returning to narratives with real utility—DeFi, NFTs, and GameFi.
But make no mistake: this bull run isn’t for everyone.
The days of “any token can 100x” are long gone. Today’s market favors mechanism design and community depth—projects must understand shifting user behavior, build closed-loop incentive systems, and strike a sustainable balance between growth and innovation.
That’s exactly why Capverse is starting to catch the industry’s attention.
Capverse: A Shift from “Play For Earn” to “Play And Earn”
Capverse, a Web3 gaming brand headquartered in Hong Kong, is led by a seasoned team with deep roots in traditional gaming. From PC titles to mobile apps, they’ve lived through every major wave of game development.
Their vision is clear: gaming will be the most natural use case for Web3, but only if we move beyond simplistic “Play For Earn” models. Capverse champions a new paradigm—“Play And Earn”—where gameplay comes first, and earning is the byproduct of a fun, engaging experience.
Capverse believes that only games which are genuinely fun can foster long-term retention and vibrant communities. Their goal is to lead the shift from gold-farming mechanics to experience-centered gameplay in Web3.
Product Strategy: Building a Game Worth Playing
Capverse’s debut title is now live on the BNB Chain—a sci-fi themed blockchain game that blends NFT collection with strategic combat.
Gameplay Features:
- A mix of PVE adventures, PVP battles, and time-limited minigames.
- Team-building based on positioning, skills, and race counters, creating a multi-layered strategy system that rewards both preparation and psychological tactics.
NFT System:
- Player-controlled characters, known as “Sumers,” span nine races, with some rare ones only obtainable through breeding, adding strategic value and scarcity.
Combat Mechanics:
- Teams can deploy up to 5 Sumers per match, allowing for near-infinite composition combinations and emphasizing deep progression and team synergy.
Social Layer:
- Built-in chat and leaderboards foster community interaction and content sharing.
The core philosophy: Web3 games shouldn’t just be about tasks-for-tokens—they should be fun and rewarding.
Economic Design: A Closed-Loop System with Smart Regulation
Capverse’s tokenomics reflect a mature understanding of previous boom-and-bust cycles in GameFi. Their model incorporates assets, in-game points, consumption mechanisms, and AI-driven regulation.
Key Components:
- $CAP: The governance token with a fixed supply. It gains deflationary value through burning mechanisms tied to second market trading and NFT breeding. It’s also convertible to/from LAND points.
- LAND Points: In-game reward points that are non-transferable on-chain. These can be burned through in-game actions and converted to $CAP, allowing the project to maintain economic control.
- SUM Points: Rechargeable with USDT and used for purchasing NFTs and VIP privileges in the in-game store.
- Macro-Regulation: AI smart contracts dynamically adjust output based on $CAP price, LAND distribution, user activity, and player behavior to avoid economic spirals.
Diversified Earning Paths: More Than Just Airdrop Farming
Capverse has redesigned the user participation model, moving away from “farm-and-dump” toward emotionally sticky and behavior-driven engagement.
Ways to Participate:
- PlayToEarn: Earn rewards from tasks, PVP, PVE, and leaderboards.
- InviteToEarn: Referral rewards are based on the activity of invited users, not their spending—emphasizing real user engagement.
- Merchant Mode: Item drop-rate boosters create opportunities for trading-focused players.
- No-NFT Mode: Mini-games with CAP prize pools allow new users to join without NFT ownership—great for onboarding and education.
- NFT Staking: Passive income opportunities through NFT staking, enriching gameplay and the overall economy.
Capverse’s focus isn’t hyper-growth. Instead, they aim to build a “small but loyal” community—a spark-ready ecosystem that can ignite organically.
Final Thoughts: This Bull Run Isn’t for Everyone
GameFi isn’t dead. It’s evolving through a necessary phase of creative destruction.
Projects that relied on hype, lacked innovation, and pumped-and-dumped their way to relevance are being weeded out. Only teams that truly understand user behavior, rethink incentive structures, and embrace iterative evolution will stand a chance in this new cycle.
Capverse is betting on one core idea: when Web3 games return to being games first, with sustainable economic systems that serve fun rather than speculation, the space can finally transcend market cycles.
This time, it’s not about overwhelming the world. It’s about lighting a spark—and watching it grow.
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Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/gamefi-2-0-from-disproven-to-revived-how-capverse-is-redefining-the-value-logic-of-web3-gaming/