ICYMI: NFT Marketplace Beta AMA — A Summary
On the 6th of February, we launched the Beta version of our NFT Marketplace to great success. We received an amazing amount of great feedback from the community - some of which we will be implementing before the official launch later in Q1, so you might just find your suggestion coming to life!
In addition to all the wonderful suggestions, we also received a great deal of questions from LOAders regarding the NFT Marketplace Beta. To address these, we hosted a 1-hour AMA session presided by Sir Ken, our Product Development Lead, which yielded a number of great discussions.
In case you missed it, here is a summary of the most important points that were discussed during the AMA session that was held on Telegram on the 8th of February, we have recapped the most important points for you below!
Why doesn’t the marketplace work? Why can’t I connect my wallet?
All functionalities will be up and running when our official NFT Marketplace launches.
For now, we are still in beta testing but we released the initial design and UI so that the community is able to have a look on what we’re up to and provide us feedback and suggestions on what can be improved upon.
When can I get my capsules?
For those who purchased or won our capsules previously, it will appear in your inventory when the official NFT Marketplace launches.
On the homepage, it says that if you buy $60 BUSD worth of LOA you can win up to 500 LOA Capsules. Are these correct? Or are these just placeholder numbers?
Each wallet can only win up to 1 LOA Capsule in the Raffle Event. As mentioned in the Raffle Event Rules, the raffle ticket pricing is based on how many people participated in the Raffle Event. The more participants, the higher the price per ticket; but the rewards are greater. This will be the initial raffle structure when we launch the NFT Marketplace, however these figures might be changed in the future.
I heard that the NFT Marketplace is just for buying and selling skins. Why can’t you buy/sell capsules in the marketplace?
That is false. There are many more things to do in the NFT Marketplace, which we will be releasing periodically throughout the whole year! You are able to sell and buy any capsules in our Trading page.
In the future will the NFT Marketplace use the oracle system so that the economy in the game can be maintained?
Possibly in the future where we see more real world applications in the Ancient Realm. But for now, there are no plans as of yet.
I want to ask about the purchase system — it says $LOA tokens will be used, so what is the BNB for?
We will be removing all other currencies in the NFT Marketplace and maintaining only $LOA. However, BNB is still needed to interact with the smart contract for gas fees.
Will those who could not get the capsule in events still be able to buy it on the market, or can they only be bought from other players?
Depending on which type of capsule. Beta, Alpha, Genesis Capsules & Immortal Cards will be obtainable via NFT sales, giveaways & events. For NFT Marketplace launch, you can only purchase these capsules when it is being listed for sale by another user. However, you can still participate in our Raffle Events to obtain a LOA capsule and stand a chance to win a wide variety of NFT skins as well.
Many NFT P2E & P2F games’ tokens are unstable/decreasing every month — how is LOA different, and will P2Es be spared from these problems?
We will be implementing burning mechanisms in the NFT Marketplace such as fees, raffle events, fusion fee etc. Prioritizing staking and lucrative rewards is also another way to protect and increase the value of $LOA. Our analysis team has been working hard to research and study on various successful project models and tune it to suit what LOA needs.
People seem to want to sell their NFTs as soon as the NFT Marketplace opens. Any plans to counter that so the price wont dip tremendously?
I believe we cannot stop people from selling their NFTs as they wish. However, we can always inform them of the various utilities for our NFT skins, how limited in supply they are and the perks of holding them. Moreover, the team has structured the NFT skins in a way that it is one of the most important assets in LOA and will continue introducing more and more utilities for it as we continue progressing, especially when the game officially launches in Q4. Until then, the majority of the features in our NFT Marketplace will utilize the NFT Skin as a key component.
Will the NFTS be separated by classes? (Ee.g. support, assassin, mage), or by heroes? If it’s for heroes how will it be in the future when new heroes are released? Do you have new capsules?
Both, they will be separated by heroes which are defined by what classes they are. When new heroes are released, we will take a portion of the supply for future NFT sales, add on some towards the LOA capsule supply, fusion reserves and giveaways as well.
When is the next capsule sale?
When we release the next hero!
Does the NFT Marketplace support other modes of payment aside from the $LOA token?
No, trading will only be via $LOA Token.
What are Axion’s Spheres?
An NFT Marketplace item that can be used to completely change or alter all attributes of the user’s NFT Skin.
Will you be introducing a second token?
Yes, it will be in the form of our in-game currency.
Is there a burning mechanism for the tokens?
Yes, several burning mechanisms will be in place to prevent inflation for these tokens which will be introduced throughout the game development.
Will the NFTs provide you with special abilities / advantages?
There will be minor attributes that will only have minimal impact on the game based on the adjustments made.
Will the NFT skins have limitations? E.g. can only be used for a limited number of times.
No such limitations. You may use them in perpetuity!