NFT and gaming juggernaut Animoca Brands preps for landmark Public Planet Sale
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The 24 hour countdown has begun for one of gaming and blockchain’s most anticipated events as Animoca and Blowfish open the doors on Phantom Galaxies’ Public Planet Sale
In just 24 hours, Animoca Brands and its subsidiary Blowfish Studios will open Phantom Galaxies – The Public Planet Sale – live from the 25th on the official site of one of blockchain’s most madly-anticipated AAA games.
The May 25th opening of the floodgates comes one week after Blowfish successfully closed an oversubscribed Planet Private Sale for Phantom Galaxies, with reports that some 7,734 Planets and Asteroids were sold for a total of US$19.3 million.
Firstly the 25th will be something of a revolutionary date in the development of the NFT universe, a fleeting moment which transcends tokens, gaming, crypto and will ultimately culminate for participants in absolute user ownership unlike anything any generation of gamers has ever seen.
Wednesday’s (AEDT) Public Planet Sale – and the game itself of course, are the brainchildren of Animoca and partner Blowfish in their barrier-breaking creation of the open-world mech combat game, currently in Alpha development.
In the Phantom Galaxies universe, ‘Planets’ are unique Non Fungible Tokens (NFTs) which will provide holders with in-game real estate and utility as well as a regular emission of the game’s native cryptocurrency.
As critical in-game assets, the planets also represent the game’s ‘user-ownable real estate’.
Each planet will have designated coordinates within the game universe, while randomised traits make each one unique.
Owners will have full digital property rights over their planets and will be able to monetise them by building structures, such as marketplaces and hangars, as well as choosing their planet’s governance system.
A central mission of Animoca’s Planet Sale design is to circumvent the conventional way for crypto projects to distribute tokens to encourage investors to participate and engage in the communities they are investing in so that they have a deeper understanding and appreciation of the ecosystem.
So instead of the usual distribution method via an Initial Index Offering, or IDO — placing assets on a decentralised exchange where users can lock in funds to acquire them at the time of a token generation event – Phantom Galaxies is s tying PGTokens to emissions to Planet NFTs which will have expansive utility in the game and can be purchased during the Public Sale on the official site.
While there’s a set minimum of PGToken emission which players are guaranteed to receive from their Planet, there is also a attainable multiplier hidden throughout the gameplay, raising the rate of emission up to a set maximum for those that engage and participate more heavily in the gameplay.
This addresses a problem seen time and time again in conventional crypto offerings — despite best intentions and Know Your Client (KYC) processes, ‘cos bots purchase the vast majority of tokens almost immediately.
The games approach to currency, as emissions from the special Planet NFTs with gameplay multipliers, prevents this, guaranteeing fairness and enabling players to engage with the blockchain to its fullest extent.
A big part of Animoca Brands executive chairman Yat Siu’s philosophy has been to create Planet Sales from the ground up to integrate blockchain with gameplay, “interlocking systems enhancing one-another to build an unprecedented gaming experience.”
Siu’s Planets, PGToken emission and gameplay multiplier have been carefully designed.
Conventional IDO tokens attract investors who are looking to do just that — invest.
“Phantom Galaxies is first and foremost a game, and so Planet Sales were designed not to serve speculators and industry insiders, but players — who are rewarded again by the robust Phantom Galaxies experience,”Siu said.
An ASX minnow worth $120 million when it was delisted from the local bourse in March 2020, the Animoca metaverse strategy has seen the company bloom into a web 3.0 juggernaut valued at valued at about US$5 billion, with its investments spread far and wide across the crypto-centric world, with a particular focus on blockchain gaming, NFTs and the metaverse.
Earlier this year, Siu, the Austrian-born entrepreneur said there were 4.6 billion people online and less than 100 million own digital assets via web wallets like Metamask.
“I would say, we’re hardly done… from our perspective, we’re barely getting off the ground,”
To participate in either of the Presales, Phantom Galaxies players will need to hold a Presale Ticket NFT.
Users who possess The Hopeful NFT at the time of a Snapshot will receive a Presale A Ticket NFT, and of the users who possess the Episode Medal 2 NFT at the time of a Snapshot, 7,500 will receive Presale B tickets. The company says all Snapshot dates will be announced in advance of the Snapshot taking place.
The Hopeful was awarded to some of the earliest community members, while the Episode Medal 2 can be earned through completing two Episodes of in-game content. This approach will work almost like a CAPTCHA, ensuring that only genuine players have access to the Presales.
This article was developed in collaboration with Animoca Brands, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.