Cardano NFT Column #027: Cardano Lands
This piece was published October 29th, 2022 on The Cryptonomist.
This week’s guest on the Cardano NFT Column is a project that reproduces the DeFi model with NFT and allows staking many Cardano NFT collections to earn HEXO tokens: Cardano Lands.
The previous guest was a project building a trading card game (TCG) reminiscent of famous TCGs like “Magic: The Gathering” and “Yu-Gi-Oh!”.
This initiative is a point of reference for NFTs on Cardano and every week or two we will invite someone to answer some questions and give us an update directly from within the Cardano community.
Considering that many of our readers are new to the crypto space, we will have a mix of simple and technical questions.
Hey, glad to have you here. Please introduce your team, where are you from, what are your backgrounds?
Hello and thank you for inviting us!
We are a team of 7 people from Europe and Latin America. The core team of the project has already been working together for 7 years in the IT field. Starting from simple solutions for creating websites, e-commerce, fintech, ERP and games.
In the final, we came to the blockchain and decided to choose Cardano.
What is Cardano Lands? How are you merging NFTs with DeFi? And why have you chosen this blockchain for your project?
Cardano Lands is here to bring additional utilities for existing NFTs. We invite all Cardano projects from different corners to join our Staking program to become qualified and generate daily rewards! Holders can have benefits from NFTs that they already bought some time ago and hold!
DeFi is a complete ecosystem of working applications and protocols that deliver value to thousands of users and we reproduce this model in Cardano Lands! Our Staking program is only the beginning of it. We plan to inherit some of the metaverse mechanics and cross them with the mechanics of RTS games.
Cardano is well-known for its scalability and security. For the project like we’re building it’s very important to work with high transaction throughput and data scale. The price of the transaction is the important part as well. Our game that we released on 12 October is fully on-chain and we’re glad for the small transaction fees on Cardano.
Last but not least, we want to talk about how friendly and pleasant the community is here. Every day in our Discord we see how people help each other and create new relationships.
What are the advantages for other NFT collections to use your platform? How does the staking process work?
Joining a staking program and becoming qualified is a good push for forgotten or small collections, especially with quite low floor price. We see how people buy NFTs from 3rd markets, like jpg.store to generate more daily rewards in Hexonium (HEXO)!
Hexonium (HEXO) is the key to all upcoming content in Cardano Lands Universe! It can also be exchanged on the MuesliSwap. Good cashback for your NFTs if you don’t want to use Metalab.
Our staking program is non-custodial — it means that all your assets remain in your wallet, and no one will ask you to send your NFTs somewhere. When you connect your wallet to our website you automatically start to stake your NFTs from qualified collections.
Every day you get a certain amount of rewards which is calculated by our staking formula, in simple words the more holders the collection has the more mining power there will be.
You also have another native token called EXO. What is its role in the ecosystem and what does the future hold for the token and the project overall?
Yes, EXO is our governance token and can be minted through our website. Currently 28 million of tokens were sold but there is a lot more to come.
EXO is used to vote to determine collections as qualified to generate rewards from staking.
There will be more utilities for EXO tokens in the future. We have Lands, you know? Lands is the beginning of the RTS mechanics and will be available for mint in Q1 2023 only for EXO.
We plan to have EXO as the main (payment) currency of Cardano Lands Universe to increase the value of it and maintain a healthy economy.
Full tokenomic info about EXO can be found in our Whitepaper.
One of your first gamified experiences is the Metalab. What is it?
Metalab — is the center of the Cardano Lands universe and the place where new FTs are born.
This is the first and main utility for HEXO tokens. Users can purchase basic elements and try to combine them in different variations and invent new recipes, and then using the newly discovered resources, try to create resources of the next-tier!
There are four basic elements available for purchase: Air, Earth, Water & Fire.
Resources are craftable FTs and created by combining elements in different proportions. High-level resources will require not only the combination of elements, but also lower-tier resources.
By inventing new recipes users get the Inventor status. Inventor rewards refer to the prizes users receive when they successfully discover new recipes. The first person who manages to find the correct combination of elements/resources that leads to a new recipe is rewarded with the following rewards:
- Raffle tickets for a prize pool of 10,000 ADA contained in the Inventor’s Prize Pool
- 1000 $EXO tokens
- Mining Tool — CNFT that gives you unique bonuses
- The wallet (stake address) of the inventor is immortalised in the FT representing the invented element
The Inventor Prize Pool is not the end goal, all resources will be used in our upcoming game!
Great contribution. Any final thoughts? Where can people learn more?
First of all, we want to thank all our partners who joined our platform and especially those who trusted us in the beginning. We think that with our project we can help someone and unite people.
If you are not familiar with our platform yet, we invite you to join our Discord, our great community will be happy to help!
Disclaimer: The opinions and views of the people interviewed are their own and do n ot necessarily reflect those of the Cardano Foundation or IOG. Moreover, this content is for educational purposes, it doesn’t constitute financial advice.