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Balthazar original research.
Check out Balthazar’s original research reports and insights into the NFT gaming metaverse.

Key Takeaways
- Delysium is an open-world MMO focused on the user-generated content side of the metaverse with a Cyberpunk’y feel.
- Delysium’s tokenomics are based on the $AGI token, a token capped at 3 billion and built on Ethereum. The token will be used to align governors, players, investors, and content creators, providing as much platform value and utility to the token as possible.
- Given how little information there was for us to find about the team working on Delysium, we cannot go into further detail on their team and do a proper assessment.

Key Takeaways
- Bullieverse is an Open Metaverse developed for the community of players and creators. It is built for Web 3.0 citizens to have an immersive environment. Bullieverse is a metaverse of multiple games with cross-game NFT utility.
- Bullieverse’s tokenomics comprises five key stakeholders: Game Players, Game Creators/Owners, Asset Creators/Owners, DAO, and Visitors. The economy itself is built on a foundational framework of self-sustainability and virtue.
- Bullieverse has a team of around 30 employees in various roles. The founders and C-suites seem to be mature individuals with a long history within the IT industry and years of experience as developers themselves. We also find a lot of young talent, especially in the creative department, where many come from the same creative environment in Northern India.

Key Takeaways
- Citizen Conflict is a team-based shooter game with various game modes set in a dystopian world called Ether Islands. It is free-to-play and built with Unreal Engine 5 and utilizing Binance Smart Chain (BSC).
- Citizen Conflict’s economy revolves around the $CCASH token. It will enable players to monetize their skill in the game if they are competent enough to win in regular prize pool tournaments.
- QORPO, the team behind Citizen Conflict, is made up of individuals with extensive experience in their respective roles. Team members have previously worked with several big game studios, such as EA, Gameloft, Ubisoft, and Riot Games, and on games such as Arma 3, Hell Let Loose, Day Z, Mafia 3, Overwatch, Diablo 2, Stray, and more.

Key Takeaways
- Aurory is a free-to-play P2E tactical JRPG on Solana. The game combines a storytelling mode with deep strategic 3v3 combat. Explore the rich story and expansive universe of Aurory in Antik and Tokané.
- Aurory uses Solana for its blockchain solution, where we find the $AURY token and the NFTs. Since $AURY is a capped token, Aurory balances the economy with its two sub-currencies called OKA and TOKE, which are weekly exchanged for $AURY.
- The team working on Aurory is over 65 people strong and flaunting over three centuries of combined relevant experience. Several team members have helped build titles like Assassin’s Creed and Far Cry 4 coming from game studios like Ubisoft, EA, and Gameloft.

Key Takeaways
- Big Time is a free-to-play, multiplayer action role-playing game (RPG) that blends fast-paced combat with an interesting time-travel game mechanic. You’ll combat your way through history as you investigate ancient mysteries and futuristic civilizations.
- Big Time uses the Ethereum blockchain as a foundation but has its own patented vault technology to speed up transactions and reduce fees. The $TIME token is the main currency and only cryptocurrency for the game and is only obtainable by playing the game. It’s not sold to investors, granted to employees, or offered in any pre-sales.
- Big Time has a team of over 44 employees, although we found over 82 people involved with the game, counting some key investors, advisors, and moderators. The team is diverse, with a lot of experience covering many areas of expertise.

Key Takeaways
- Illuvium is an interconnecting DeFi game protocol tying together a few different games set in the same universe with different purposes. The core game is an RPG where players catch monsters for use in battle in the second game, an auto battler. Finally, a mobile manager game is used for resource farming.
- Illuvium uses $ETH and its original token $ILV for governance and transaction purposes. These tokens live on the Ethereum blockchain. For gasless fees and speedy transactions of NFTs, the game leverages Ethereum’s Layer-2 scaling solution, Immutable X.
- The Illuvium team has over 150 people in various roles. The leadership has assembled a stellar team of professionals. Considering their employees, we believe they have all the prerequisites to deliver an outstanding gaming experience.

Key Takeaway
- Legends of Elumia is an MMORPG built on the Solana blockchain. It is set in a medieval fantasy world, where NFTs are a central part of the gameplay and economy.
- Legends of Elumia has a dual token economy with the tokens $ELU and $EKS at its core. $ELU is the governance token, and $EKS is the in-game currency.
- The team behind Legends of Elumia is undoxxed and unverifiable. We find seven core members listed, although they claim over 40 people are working on the game with over 80 years of combined experience.

Key Takeaways
- Star Atlas is a sci-fi space-centered next-gen gaming metaverse with top-notch graphics. It offers various avenues of gameplay, such as strategy, exploration, role-playing, and space flight simulation. The game has a player-driven economy tied to the real world through fungible and non-fungible tokens.
- The tokens at the economy’s core are called $POLIS and $ATLAS. $POLIS is the governance token, shipped in limited supply. $ATLAS, on the other hand, is inflationary and is the blood of the economy. With several burn mechanics and clever mechanisms to help manage the player-driven economy.
- The Star Atlas team comprises around 200 people, many of whom have impressive backgrounds in their respective fields and merits. With the team, several members come from studios working on similar games like Star Citizen, Eve Online, and Elite Dangerous.