Cardinal land nft4/17/2023 ![]() ![]() MANA can also be exchanged for NFTs in the form of digital wearables for your avatar or interactive widgets to decorate your LAND.ĭecentraland is governed by a decentralized autonomous organization (DAO), a smart contract allowing Decentraland users to vote on policies such as the issuance of new MANA tokens and rules governing LAND. Users who own LAND can then build on their property in the virtual world and/or resell the parcel of LAND on the secondary market. MANA can be burned in transactions for LAND, an NFT token that represents virtual real estate in Decentraland. Readers who are familiar with massively multiplayer online role playing games (MMORPGs) already have a sense of what that experience looks like.īuilt on the Ethereum (CCC: ETH-USD) blockchain, the MANA token is the primary currency for transactions in Decentraland. MANA is one of two Decentraland NFTs associated with the virtual reality platform, essentially a digital world users can explore with their own humanoid avatars. Tokens associated with NBA Top Shot and other NFTs were likewise boosted in trading yesterday. Focusing on successes like Axie Infinity also obscures the many other play-to-earn NFT games that never attract a significant audience in the first place or vanish before launching at all.MANA appears to be another beneficiary of the market mania surrounding non-fungible tokens (NFTs), a cryptoasset class primarily used for digital collectibles at the moment. Early NFT gaming startups like Axie Infinity have shown that even extremely basic games can ride their "pay to earn" potential to significant success.īut a detailed analysis of that game's in-game economy from research firm Naavik suggests that this economy depends heavily on a still-growing player base and could fall apart if the player count starts to shrink. Technology aside, whether players' early investment in Legacy pays off depends almost entirely on whether or not the game can attract a dedicated and growing base of players who are willing to invest additional money into the ecosystem (either to get in-game benefits or for purely speculative purposes). On its Legacy land sales page, Gala writes that it is "committed to the health and safety of our planet" and "committed to becoming and staying carbon negative." To that end, the company promises to plant a tree every time you make a purchase on the site. Using the Ethereum blockchain also means that Legac圜oin transactions will use a lot of energy and could lead to much more environmental harm than a centralized database would produce. ![]() Just 140 plots remain, for a combined asking price of 527.04 Eth ($2.148 million). That includes a unique "Heart of London" plot that sold for 220.607 Eth (over $900,000) and 2,000 "common" startup deeds that sold for about 0.8 Eth ($3,266). Currently, that means purchasing one of 4,661 available plots of land in a virtual recreation of London using the Gala Games marketplace (it's unclear how many more plots of Legacy land will eventually be made, if any).Īs of this writing, over 4,500 of those plots have already been pre-sold for a combined price of about 13,365 Eth (over $54 million at today's prices), according to public listings on Gala Games' site. To participate in that in-game economy, though, you'll have to be a Legacy landowner. Players can trade those items with other players in an "open market" and compete in in-game competitions for "leaderboard positions and big prizes" (denominated in the game's own Legac圜oin cryptocurrency). ![]() How it worksĭescribed as "the first ever Blockchain Business Sim," Legacy lets players design in-game products and buildings that are then manufactured by virtual workers in in-game factories. On Saturday, Peter Molyneux's 22cans studio and blockchain gaming company Gala Games announced the first limited land sale in Legacy, an NFT-powered game being sold as "a creative entrepreneur’s dream come true." Less than a week later, early player-investors have already poured over $54 million into the virtual-land non-fungible tokens that make up the game, which isn't expected to launch until sometime next year. ![]()
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