This article is the ultimate guide to understanding NFT Worlds. By reading it, you will learn about NFT Worlds, its origin, its native token (WRLD), and where and how to buy the token.
What are NFT Worlds?
NFT World is a collection of 10,000 distinct worlds that make up a fully decentralized, enormously multiplayer metaverse game in which players own and control each world, allowing them to create endless experiences and possibilities.
Each NFT World is routinely generated and is a truly unique 3D voxel world. Two elements make up a world. Their on-chain data & resource information will be coupled to further NFT World dApps, token distribution, and more in the future, as well as their visual look & in-game experiences connected to the blockchain.
You control the rights to that world within the NFT Worlds ecosystem, the power to develop and all items built in that world, and its in-game experiences. Consider it a rare piece of digital metaverse land that you can turn into anything you want for others to play, experience, and more. All of this takes place in a massively multiplayer environment.
To complete your full understanding of NFT Worlds you will first need to know about its relationship with Minecraft.
What is Minecraft combined with NFTs?
Microsoft's Minecraft is a popular Sandbox game. Players explore the Minecraft environment, disassembling and reassembling various blocks. It has around 140 million active users as of 2021 and is rapidly rising. This massive player base is a major advantage to the project. Players simply need to go through a brief transition period before they can begin playing in NFT environments.
Each NFT World is a Minecraft-compatible environment that can be explored and allows players to create their worlds within the game.
Similarly, piggybacking on an existing game enables the metaverse to be playable immediately without the need for millions of dollars in development. Allowing them to swiftly establish network effects. There are, however, some drawbacks and trade-offs.
The Drawbacks
Microsoft owns the Minecraft platform. NFT worlds must follow any laws or regulations that are put in place. Microsoft teamed with Enjin on February 11th, 2022, to provide cross-platform bespoke NFTs to Minecraft. As a result, they became competitors one. Microsoft's regulatory risk is a major source of concern.
NFT worlds are tokens that represent distinct worlds in Minecraft. This company concept has low entry barriers. As a result, new rivals can readily develop similar projects. One of these projects is Blockverse, which has supposedly been turned into a rug pull. If NFT worlds become popular in the future, many clones are likely to appear.
How Can You Make Money From NFT Worlds?
Simply playing Minecraft can win players $wrld tokens. They would need to enter their crypto wallet address into the game using a command. They will subsequently be given tokens. Players can make up to US$6 per hour at the time of writing.
Are There any NFT World Gas Fees?
Players who do not have any cryptocurrency exposure may not have the MATIC token to pay gas fees. The project has created a payment portal at https://nftworlds.com/pay that allows users to transfer $wrld tokens to other addresses in exchange for gas fees in $wrld.
What projects are building on NFT Worlds?
Some projects have bought these NFT worlds and are constructing on top of them. These projects have distinct communities that add value to NFT worlds as a project. At the time of writing, there are over 100 projects with their distinct universes.
Thousands to tens of thousands of members are ready to participate and play together in their respective NFT Worlds in nearly all of these groups and initiatives.
The NFT World team anticipates that this will bring a substantial number of new players into the interconnected NFT Worlds meta-multiverse.
The team considers NFT Worlds to be the first meta-multiverse because each NFT World acts as its own fully functional, completely customisable metaverse with no size limitations. Furthermore, worlds are totally programmable - everything from a full-scale MMORPG to event venues with music and more may be created in a world. All worlds can be joined via portals, resulting in a web of experiences and capabilities that players can encounter across realms.
So far, approximately 50 big NFT projects and communities have publicly stated that they are constructing their metaverse on top of an NFT World.
Every day, more projects join NFT World's ecosystem to give their communities a full-scale, playable metaverse with P2E possibilities.
See the projects and communities that have officially announced that they are creating on top of NFT Worlds.
The $WRLD token, What is it?
$WRLD is an ERC-20 token that was created on the Ethereum blockchain. It is the primary utility token and the token utilized in an NFT World. It was released into the crypto market in December 2021.
Within NFT Worlds, players can spend $WRLD tokens to gain access to exclusive experiences, objects, bonuses, content, and more. These tokens are given to the owner of a world in which a player is playing in exchange for the specific experience, things, benefits, content, and so on that the world owner has promised for a token transaction. These transactions take place via an in-game user interface (UI) that is linked to the blockchain.
The NFT world team linked the integration of the $WRLD token with NFT Worlds in such a way that practically any in-game experience, perk, item, or access to content may be established by world owners and demand $WRLD tokens from players in their worlds in order to access or participate in such content.
Additionally, $WRLD will be required for the purchase of optional, personalized NFT World character NFTs, and may be required in the future for undisclosed worldwide NFT Worlds perks and content.
What's the NFT World Token ($WRLD) used For?
You can use the NFT World token ($WRL) for several exciting things.
As the native medium of exchange: $WRLD is the primary means of exchange in the NFT World ecosystem. In many NFT Worlds, gamers will be required to contribute world owners $WRLD tokens in order to access the content, rewards, competitions, and other features that world owners have built in their worlds.
Rewarded in play to earn: NFT Worlds will have procedures in place for players to acquire $WRLD tokens by playing games in worlds. Additionally, world owners may encourage users to visit their worlds by hosting competitions, free-to-play games, and other activities that award players with $WRLD tokens.
The Future Uses: Within the NFT Worlds ecosystem, the $WRLD token will always be the dominant token. It will be incorporated into any future applications for our platform where it is beneficial to the community and ecosystem.
$WRLD Tokenomics
Play-to-earn awards provide significant incentives for users to join and participate in the NFT Worlds' ecosystem.
The NFT Worlds team will have access to $WRLD so that they can organize in-game promos, lead growth driven competitions in worlds, sponsor build & game creation competitions, and more.
A claim method will be used to distribute the first $WRLD to world owners. $WRLD will be utilized not only in-game, but also for world-specific services, management, and employing build services from any of our dozens of professional build teams to create your world(s), among other things in the future.
Staking to provide world owners with the opportunity to earn $WRLD over time. This provides present and future world owners with another option to earn $WRLD in order to gain access to world-owner-specific features and services within the NFT World's ecosystem.
Play-to-earn (P2E) Rewards
Players can earn $WRLD through completing quests, challenges, winning competitions, and other activities throughout the NFT Worlds ecosystem.
These mechanisms will be implemented through a combination of cross-world implementations for player challenges as well as world-specific challenges that world owners can build for players in their world to incentivise people to join their worlds, among other things.