NEW YORK, NY Mar 09 2021 (Blockchain Wire)
The blockchain industry has continued to evolve over the past decade, with more products being developed daily. Nonfungible tokens are one sector that has experienced massive growth in the last 12 months, growing by more than 299% within this period.
NFTs initially began on the Ethereum blockchain in the form of games, such as CryptoKitties and Crypto All-Stars. Since then, the industry has expanded into buildings, businesses, art and music on the blockchain in the form of NFTs.
The Ethereum network currently dominates more than 90% of NFTs built on the network, but the problems are numerous. The increasing use of the network has resulted in congestion, leading to slow confirmation times and gas prices skyrocketing to $60–$90 per transaction.
This makes it difficult for NFT projects to fully develop, like games within the blockchain network’s reach. However, blockchain project NFTWars is looking to change this by utilizing Matic (now known as Polygon), a layer-two solution to resolve the existing problems.
NFTWars aims to become one of the first blockchain games to utilize layer-two technology. This will ensure that gamers who are frustrated with the high transaction costs on the Ethereum blockchain can partake in NFTs.
To achieve this, NFTWars will be built on Polygon, which is a side chain built on Ethereum. Transactions on Polygon are done quickly, at an efficient cost, and without compromising applications built on it.
NFTWars will initially be deployed as a simple “rock, paper, scissors” philosophy for the control of a risk-like map. As the game evolves, more features will be added, including alliances and grouping, rewards for controlling territories, and complex battle systems.
Tokenized rewards for NFT owners will be integrated for staking as well, for the purchase of in-game items and assets, minting new NFTs, and other customization options. This will be fueled by the governance token WAR. The ERC-20 token will be used to make purchases on the platform and also be a tool for providing incentives to gamers.
NFTWars will also deploy a mechanism that will burn the majority of tokens spent and funnel them back into the total supply. This will keep the overall supply of WAR tokens low and the game economy stable. As a blockchain game, NFTWars intends to be fun and give players full control of their in-game assets.
NFTWars has also launched the pre-sale of its native token, WAR, as part of its roadmap. The pre-sale enables early adopters to purchase the token at the best possible price. The pre-sale, which began on March 5, is expected to hold for 14 days.
The pre-sale listing will see 1,000 WAR tokens available for 1.3 Ether (ETH), with individual investors having a maximum cap of 9 ETH. There will also be a soft cap of 159 ETH for WAR tokens and a hard cap of 402.5 ETH.
This pre-sale listing comes after the successful private sale that ended in February, in which 175,000 WAR tokens were sold out in eight hours. The increased interest in NFTWars shows the potential of the blockchain game.
The team behind NFTWars is led by CEO Manny Kohistani and has plans to expand its ecosystem. WAR is expected to be listed on several crypto exchange platforms, including popular decentralized exchange Uniswap.
There are expectations that when fully launched, it will attract a larger audience and become one of the top NFT gaming platforms. To learn more about NFTWars, visit its website: https://nftwars.io