Most of the current Blockchain-based games face barriers such as bad graphics, simple storylines, and unattractive game content, which revolve around raising pets or building something. These things have kept this game genre from getting closer to many traditional players who are used to complex game systems that are no different from reality. But there is one game trying to conquer all of the above combined with play-to-earn mechanics, and that is Mist. 

Mist is a blockchain-based action role-playing game with play-to-earn mechanics revolving around NFTs, Staking, and Farming. Built with Unity using the in-house Mist NFT Game Framework (MNGF), the project provides players with an immersive in-game environment with five character classes and loads of magic, like traditional role-playing action games, which have been loved since we were kids. Let’s find out what’s interesting about this game!

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Market Analysis 

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Play to earn is not a new form of gaming. It appeared a long time ago with the advent of games. But most of what players earn is limited by the game’s scope, not having much real-life value. Today, thanks to the development of NFT, technology has turned game items into valuable things. This has revolutionized the gaming market, making games more interesting, engaging, profitable, and meaningful for players.

Therefore the game sector is a very fast-growing market in the blockchain industry, especially with the increasing popularity of NFT. This market is expected to have great developments in the long term, not just instantaneously.

Product Highlight 


The game brings players an environment where there are 5 classes of characters (Crusader, Enchanter, Ranger, Shapeshifter, and Witch Hunter) possessing different abilities. Mist consists of player-versus-player battle and exploring a world of full possibilities.  Players can also collect NFTs, battle monsters, and explore infinitely immersive environments. 


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( 3000 MIST, Source: Mist NFT Medium)

Crusaders are tenacious warriors sworn to service in exchange for a share of their god’s celestial power.  Tier upgrades increase ability effects by 3% each time. 


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(3000 MIST, Source: Mist NFT Medium)

Enchanters are gifted with natural psychic abilities and powerful, analytical minds. Enchanters harness an impressive inventory of spells and illusions to manipulate the very fabric of reality and outsmart their opposition. Tier upgrades increase ability effects by 3% each time. 


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(3000 MIST, Source: Mist NFT Medium)

Rangers are skilled at harnessing the power of earthly divinity to manipulate the forces of nature thanks to profound ancestral knowledge. Tier upgrades increase ability effects by 3% each time. 


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(3000 MIST, Source: Mist NFT Medium)

Shapeshifters are skilled alchemists who use the ancient knowledge of a long-forgotten civilization to craft potent elixirs that imbue them with the ferocity of the wild. They use forceful multi-target attacks and savage melee abilities to dominate the battlefield. Tier upgrades increase ability effects by 3% each time. 

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(3000 MIST, Source: Mist NFT Medium)

Witch hunters are trained to track and destroy evil with chilling accuracy and relentless cruelty. They learn to use their opponents’ abilities against them, combining powerful ranged attacks with artful defensive spells to ward off enemies. Tier upgrades increase ability effects by 3% each time. 

Play-to-earn methods

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(Source: Mist NFT Medium)

  • NFTs in Mist can be added to the Mist Game Framework and turned into game items. They can also be traded in in-game exchanges (auction houses) and third-party NFT exchanges.
  • Players can earn rewards as in-game businesses have revenue through staking the in-game currency (the MIST token) by investing in in-game businesses, such as taverns, general stores, and more. 
  • Players can also farm by buying farmland, farms, or livestock. When your farms work, you receive rewards. 

NFT in Mist

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(NFT Upgrade Costs, Source: Mist NFT Medium)

Each time an NFT is upgraded, the lower-level NFTs are burned and removed from circulation. NFT upgrades have 5 tiers total, with spending exponentially more resources in the upgrade. 

Tier 1: Basic NFT: This is the 1st level NFT

Tier 2-Tier 4 NFT: These are progressively stronger, more useful, and rarer as the tiers increase

Tier 5: Legendary NFT: The most powerful, strong, scarce, and elite version of the NFTs

The NFT items available now will not have more minted. These will be the First Edition rare items with only 608 available of each on the marketplace, meaning possible 19 Legendary Upgraded.

Paper: Papers are publicly available and transparent. Details can be found at Mist NFT Whitepaper.  

Github: Not found. 

The product status: Currently still developing. You can read the roadmap below: 


(Source: Mist NFT Whitepaper)

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Token Economy 

Token Distribution 

Token name: Mist NFT Token

Ticker: MIST

Blockchain: Binance Smart Chain

Token Standard: BEP-20

Token type: Utility, Governance

Contract Address: 0x68E374F856bF25468D365E539b700b648Bf94B67

Total Supply: 1,000,000,000 MIST

Circulating Supply: 56,357,088.00 MIST

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The team only receives 4.5%; the rest of the allocations are for the project’s operation, implying the team’s desire to build a real and long-term project. However, the lock time is also quite short, only 6 months, which is also a bad point for new projects.

Token Utility 

MIST is the primary utility and local currency in the game, which plays the main role in the functioning of the Mist NFT.  The Token usage will be as follows:

In-game currency: You spend MIST to buy items in-game, swap for NFTs, repair damaged items, purchase mounts, and more. 

Currency for NFTs in-game: You use MIST to purchase and swap for NFTs in-game and outside the game world. The in-game auction house is where you can list your NFTs for sale and swap them for the MIST

Staking: You can stake your MIST to earn more passive revenue. Besides, MIST can be farmed outside the game to receive rewards. 

Network Valuation & Asset Pricing 

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MIST market cap is $9.5M with $9.8M volume in 24h. Although the project’s market cap is still small compared to its competitors, the volume in 24h is larger than its market cap, which shows that the project is receiving a lot of attention from investors. There is potential for further growth in the future. The top exchanges for trading in MIST are currently ZT, LBank, PancakeSwap (V2), WBF Exchange, and XT.COMl.

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(Source: Mist NFT Whitepaper)

For a more detailed overview of MIST’s valuation, we can compare the prices of private and seed rounds. Significantly, the current price of MIST has increased by 1890% compared to the listing price. However, the growth is not expected to stop there; it will be stronger when MIST is listed on larger exchanges like Binance or Coinbase.

Games NFT trend that is booming during this time. As expected, this wave is not over yet and could increase even more, especially in the context of the bullish, BTC hit the $46,000 mark again. But be careful, no one knows when this trend will end, and the price of tokens related to games is seemingly overrating. Without a good entry, the consequences will be unpredictable.

Unique Selling Point (USP)

The game is built on Unity with the advantage of the ease of use. It allows us to synchronize game builds and code through the Unity Teams Collaborate module, which benefits the international team of developers trying to synchronize their progress in different timezones.

The Mist NFT Framework allows game developers to create and deploy multiplayer ARPGs that include systems such as:

• Inventory system that connects to BSC

• Ability system

• Quest system

• Zone system

• Weapon system

• Adjustable UI / SFX system

• NPC system

• Alignment system

To provide seamless blockchain connectivity, our framework consists of a Python SDK that runs on the server-side, allowing trans allows us to Binance Smart Chain with each user’s account information securely forwarded to the smart contracts responsible for farming, mining, and NFT rewards.

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Telegram: Contact @MistNFT – There are more than 52,900 active members.

Twitter: Mist NFT (@MistNft)   – Has more than 91,800 followers.

Discord: Mist NFT – Has nearly 49,000 active members.

Medium: Mist NFT – Regularly post updates on the progress of the project and guide to play the game.

For a project which has not yet been any complete product like Mist NFT. This can be a huge advantage that helps the value of MIST and the project itself fly further.



Mist NFT has attracted a significant number of well-known Venture Capitals in the market, notably X21, AU21 Capital, Mantra DAO, DuckDao, Vendetta Capital, and so on. However, the information about the investments was not disclosed.

Thiết Kế Không Tên 1


MIST has a few partners who are influential projects or individuals in the blockchain field. It is noteworthy that the team of experienced advisors, such as:

Garlam Won, Managing Partner at M6

Garlam Won is on board as a strategic advisor, currently managing Momentum 6, has a solid track record of success in multiple blockchain projects.

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Eric Su, CEO of Exnetwork

Eric Su is a lead advisor and well-known investor and community builder in the cryptocurrency industry. He is the founder of Exnetwork Capital, a hybrid crypto fund and incubator that focuses on harnessing the power of communities. 

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Timothea Horwell, CMO of Orion Protocol

She is a strategic advisor of MIST NFT. Timothea has a strong, proven background in market strategy, business growth, and revenue generation. In addition to strong, quantifiable skills, she can connect Mist to the valuable networking and introductions to partners in the NFT. 


Mist NFT seems to be an anonymous team, but we got some information through the AMA. They are AI engineers/researchers and game developers who started Mist as a passion project. When they set up a simple chain that can connect in-game components more efficiently, they came up with giving blockchain features into the game. One of them said in the AMA: “I can tell you that you may have played some of the games that our team members were involved in one way or another.” Most likely, they are developers from major game studios.


Mist is promised to be a game with attractive content, bringing more entertaining and thrilling elements to players. Based on the above analysis, we can believe that Mist NFT will develop more strongly in the future. The biggest difference compared to games in the same genre is the Play to earn mechanism, making playing games no longer just for entertainment but can earn high profits. However, with the current explosion of DeFi game trends, players should consider carefully before participating to avoid losing money. Wish you happy gaming!

This deep dive is for informational purposes, not investment advice. Readers will be responsible for all their actions.

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