The NFT Great Silver City Lands collection sells out again among the Outer Ring MMO community: 315 NFTs and a volume of $157,5K.
The NFT Great Silver City Lands collection sells out again among the Outer Ring MMO community: 315 NFTs and a volume of $157,5K.
Outer Ring MMO has done it again. After generating a lot of buzz among the blockchain community with the launch of its first round of NFT Lands, which raised $266k, the second round has not fallen behind. This time with an auction format open for everyone, the Great Silver City Lands collection has once again seen huge participation.
Here are the most relevant data of the second round:
- 315 NFTs have been sold out of the 1,525 future max supply of the collection. Only 905 are now available.
- 20.9 M GQ has been burned.
- During the 15 days of auction, a volume of $157,5K was recorded.
- 239 community members are already landowners in the Outer Ring!
- The auctions generated 2000 bids.
- The highest sale reached 4.793$.
A different format in the metaverse marketplace
The auction numbers reflect a reality: the Outer Ring community has seen future value in acquiring these digital lands. A wallet, predictably intending to form a clan, accumulates up to 26 land. But the value proposition of these assets differs greatly from the metaverse fever pitch we witnessed in late 2021.
Facebook, becoming Meta, put all eyes on the newly created concept of "Metaverse", causing, as a result, large sums of capital to be invested in acquiring virtual land in projects such as Decentraland or Somnium.
Outer Ring, while incorporating many elements of social interaction in a continuously evolving virtual world, does not focus the value proposition of the Lands solely on this aspect. These virtual terrains are intrinsically linked to the dynamics of the game, as they provide benefits to players such as obtaining and storing resources, speeding up processes and completing day-to-day tasks in their space adventure.
On the other hand, Outer Ring does not use the sale of these NFTs as a funding method, quite the contrary. It burns 75% of the GQs raised to reduce the circulating supply of its token and uses 25% to provide liquidity to decentralized pools. As a result, between the two rounds it has burned 49.4M GQ, $272K at the current price.
The beginning of the secondary NFT Lands sales
Although we already saw some of these assets listed in other Marketplaces and community members, making “per-to-per” transactions, with the closing of the last phase of auctions in the Beta Sector of Great Silver City, the Marketplace opened.
Inside, as with all other NFTs in the game such as weapons or spaceships, players can make secondary sales without leaving the Outer Ring Dapp.