·

$5.58 Million in Trading for NFT Worlds

Posted by
Robert Hoogendoorn

On-chain world building metadata compatible with Minecraft

Over the past few days NFT collectors and investors spent $5.58 million on a piece of unique virtual land hidden inside an NFT. The NFT Worlds collection caught the attention of the community, who invest speculatively on the possibility to own their own virtual, interactive snow globe. 

Carrying a world in your pocket, or in this case inside an NFT. That’s the promise of NFT Worlds, a collection consisting of 10.000 uniquely generated worlds where players can build and play in. At the moment the collection has over 5.5k unique owners, and the floor price is 0.25 ETH. The most expensive worlds have changed hands for 3 ETH, or $10.770. 

Users could claim these NFT Worlds free of charge, but the team gets 9.5% royalties on every sale on the secondary market. This means that the developers have cashed in roughly $530.000. 

Now that the minting process has been completed, speculation comes into play. Each of these NFT worlds features mountains, oceans, forests or deserts. There are natural resources, like oil, gems, but also lumber and simple dirt. Worlds can have rare features, ranging from mineshafts to jungle ruins or towns. 

What can you do with these NFT Worlds

Essentially the NFT Worlds developers replicated the concept of Loot, providing on-chain metadata for a certain world. Upon minting the NFTs, the system automatically randomly generated a world, using an open-source world generator compatible with Minecraft. Using the Seed data of the NFT Worlds NFT in your wallet, allows you to generate the same world inside Minecraft. 

NFT owners will be able to explore their NFT World virtually, and then develop and build on top of it. Changes made in the world will also show in the NFT image, once that image has been updated of course. That means that landscapes change based on developments players made in these worlds. 

Seeing the image above, it provides details on the world’s geography, the resources available in that particular world, and its unique features. Right now it seems like the pricing on secondary markets is mostly based on the rarity of the unique features, but that might change in the future. Minting launched on October 5th, and there are plans for many features and dapps to add to these NFTs.

Share this post on social media

Share this Article

Related articles

Related articles

PixelChain Classic NFTs Become Limited Edition Art

PixelChain launched in 2020 and has now closed its minting contract
© 2018-2021 DappRadar, UAB