LeoFinance - Make Money Through Gamifying NFTs? (Terra's Levana)

A lot of games has populated in the crypto space and many of them have native NFTs. Everyone who is already in crypto has likely seen some of the NFTs. One of the most famous NFT markets is OpeanSea which uses ETH to buy and sell NFTs all associated to the Ethereum blockchain. On Hive we have multiple sources to purchase NFTs and one of them is NFTMart. There is also DLux.io that sells NFTs and also aiming toward using NFTs in a Metaverse .

But today I want to focus on Terra's Levana side NFT project that has mainly been only NFTs up to this point but has become a game in itself. This post is to identify Levana's unique way of simply having NFTs as a game even before the developers have an actual game for use of the NFTs. This approach of what I consider gamifying NFTs is a first for me and I wish to share to you how it works. Enjoy!

Eggs and Dusts

About three months ago Levana had a 44 hour run in unlimited bidding on minting meteors that would result in Eggs and Dusts. My prior post goes more in depth on the breakdown of the protocol's different NFTs. The whole sale of meteors was some sort of bidding war where people who bid the most won the rarest form of meteors.

A few weeks later the meteors were allowed to be cracked and odds of getting an egg that would eventually end up being a dragon overall was close to 1 out 4. The rarity of the meteor effected the odds of obtaining an egg. The investors were cracking the meteors were set out in trying to get one of 8,888 eggs ever to exist.

Meanwhile majority of the meteors turned out to be dusts. A ballpark of 3 out 4 NFTs from a little over 41,000 NFTs. Then came the open market as investors learned that in order to create a dragon they had to nest their eggs with similar type of dusts in specific attributes.

Public Open Markets

With a larger amount of dust than eggs many investors started to sell their dusts to try to recoup their investments. However some held their dust while others traded between each other for dusts that they needed to match with their egg's attributes. This turned into a dust market for buyers and sellers.

According to DefiLlama the eggs and dusts are currently number two and three top trading NFTs on Terra network. So it is understandable how much interest the Levana NFTs were getting over the past few months.

The two sites where majority of the buying and selling of Levana NFTs are:

https://randomearth.io
https://knowhere.art/

Nesting

With meteors cracked into either eggs and dusts the investors then had to collect the same eggs and dusts in specific attributes to further progress in the next process of creating a dragon. That step is nesting and it was officially launched today.

In the steps of nesting an egg the investors in return gets an updated NFT of their egg showing its nesting and a new Levana token called talisman. The new tokens are for future us in the actual Levana game and represents the player's team.

Some egg nesters decided to sell their earned talismans and currently on randomearth.io alone there has been over 260 Luna in transaction cost for the talismans. This is its first day in existence.

Conclusions

The whole most I went describing the process of obtaining one form of NFTs, bidding for meteors, then cracking to or aka burning NFTs to obtain either an egg or dust by game of chances. Finally up to now combine an egg and a dust to form a nested egg and mine a new NFT called talisman. This whole process up to now has Levana NFTs become the second and third mostly traded NFTs on the Terra blockchain.

There is a clear demand for performing all these actions I have listed with the use of NFTs. It was all thought out and programmed by Levana developers. A very lucrative way to playing NFTs without having to actually have a real game in it. Although the developers are planning to introduce an actual game to use the NFTs therefore likely apart of the reason the NFTs are in demand, the way the developers have moved from one NFT to another while maintaining interest is just outstanding.

In addition I have only briefly mention this is lucrative but why? Well any of the NFTs whether meteor, egg, or dust has appreciated since its introduction. For additional proof the newly minted talismans are selling up to 4 Luna each and their use is still not exactly clear.

Whether this hype in the Levana's NFTs remains to be seen but as each passing day goes by it appears more and more people are willing to put their money in it. Time will tell if this way of playing NFTs will catch on and we start seeing more projects doing the same such as making the users burn, mint, buy, sell, and trade NFTs.

Link is Levana's roadmap as the next steps toward creating the dragons and when they can be played.

None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!