One of the leading blockchain games, League of Kingdoms (LoK) is introducing play-to-earn mechanisms on its platform to boost gamer engagement and bootstrap its in-game economy for the benefit of the users. Announced Thursday, the massively multiplayer online (MMO) game will introduce non-fungible tokens (NFTS), allowing gamers to invest in them and utilize them within the gaming metaverse.
The first set of NFTs is set to be launched on League of Kingdoms Arena (LoKA), the flagship game for the League of Kingdoms metaverse. Labelled Drago NFTs, the assets represent powerful creatures that enhance the battle skills and attributes within the arena.
Nonetheless, the Drago NFTs will have a limited supply, whereby after the initial Genesis collection, all Dragos need to be bred from the existing population. This is where the game employs a play-to-earn mechanism, allowing players to buy and invest in the NFTs, and then breed them in-game to raise other Drago NFTs. The new Dragos will then serve other players or miners who want to join the LoK metaverse.
According to a team statement, the initial Genesis Drago NFT collection is set to launch on Monday, May 30, alongside a new in-game NFT marketplace. The Genesis launch will also welcome an in-game utility token, Dragon Soul Token (DST), which is also used in breeding new NFTs in the metaverse.
With the Drago NFTs, we’re now going full steam ahead on interesting Play-to-Earn opportunities for LOKA players,” Chan Lee, Co-Founder of League of Kingdoms said. “Our vision is that these opportunities must not interrupt the everyday experience in any way, which is why we are so focused on keeping the core game accessible and free.”
Launched in 2020 as a flagship game for the League of Kingdom metaverse, LoKA introduced a new way of blockchain gaming including deep game mechanics. The game includes an easy-to-use UX/UI platform, enabling non-crypto users and beginners to game and earn from the platform. The non-complexity of the game has attracted a very diverse group of gamers with over 150,000 daily active users and over 800,000 monthly active users on the platform. The game attracts a wide global audience, including players from developed countries such as the US, France, Japan, Hong Kong and others.
Notwithstanding, the gaming project also raised over $3 million in capital raises from top VCs and major investors in the crypto space including Hashed, a16z, Sequoia India, and Binance Labs.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
The $LOKA native token incentives
As alluded to, the LoKA metaverse also introduces its native token, $LOKA giving gamers additional utility within the platform. It aims to expand the utilities of the gaming project to ensure gamers can easily earn, own assets, and thrive within the metaverse.
First, the $LOKA token is a governance token that will be used to propose and vote on on-chain proposals on the development, upgrades and policies adopted by the community. The token is also utilized as the currency inside the League of Kingdoms game franchise for all in-game store purchases, such as purchasing packages, skins, and goods. Additionally, the LOKA token will act as an NFT booster to create, upgrade, and acquire special NFT assets, including but not limited to Drago and Skin NFTs.
Finally, $LOKA is also used as a reward within the game, whereby gamers can earn it by playing in-game competitions and achieving the game’s set special tasks.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice