LOK Official Blog
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LOK Official Blog

LAND SALE #2 (ft. Land 3.0)

March 2022

TLDR

You’ve waited long enough.

Finally, after more than a year since we had the main sale #1 on January 2021, the fresh new League of Kingdom Lands will be offered to the public.

The Land sale will take place in the week of March 14th (detailed schedule to be updated) in the form of a Dutch auction followed by a fixed price sale.

A total of 6,022 parcels (about 9% of the total supply) will be sold. Unsold portions will be carried over to the next sale, which the time isn’t determined yet.

The sale will favor $LOKA as the game’s native currency with additional bonuses. But the sale will also accept Ethereum (ETH).

The sale will start with a dutch auction over 48 hours with the price dropping by 12.5% of the floor price every hour down toward the floor price as set forth below.

Please find the price table below (Price may be adjusted prior to the sale)

WHAT’S LAND?

Lands are unique digital properties in the League of Kingdoms game franchise. The Lands are the very ground where thousands of gamers build, farm, compete, socialize, and spend their hours in the metaverse.

Additionally, the Lands are ERC-721 non-fungible tokens based on the Ethereum blockchain network and thus can be owned by users. The total supply of the land parcels is 65,536 and the current plots in circulation are 4,174, and about 6% of the total quantity.

LAND TRACK RECORD

Chronicle of LAND

LOK Land is one of the oldest non-fungible digital properties in the Gamefi space, predating the Axie Land. The Lands have been established to be one of the cornerstones of the League of Kingdoms world and have evolved over time over two phases: Land 1.0, and Land 2.0.

With the adoption of the League of Kingdoms governance token, LOKA, and the upcoming launch of other supporting infrastructures, the LAND will enter into a new phase, LAND 3.0, with a gamut of new features, reward systems, and many other potential utilities.

Price action:

From the initial pricing of Lands on presale and the first main sale, the Land price has appreciated dramatically.

For example, a Level 6 Land parcel was sold during the presale round 1 at a price of $167.99. Based on NFTBank data, today, the same leveled lands are sold at a price of $23,829 which is a whopping x142 (or 14,200%) jump in value.

Rewards:

As the LOK experienced explosive and impressive 30x growth in the second half of 2021, the land rewards have also increased steeply.

As of February 22th 2022, a total of 433,452 DAI or BUSD have been accrued for landholders since the launch of the Land.

  • For instance, a level 6 Land accrues about $6 daily, which translates to about $2000 annually thereby making the Land demonstrate north of 1200% APY given the presale price of $168
  • To put this into easy numbers, here is a table that illustrates the monthly earnings in DAI/BUSD you can expect to get for holding each Land level. It is for illustration purposes and the amount of Land rewards are subject to fluctuation as the game revenue. (Though it has been relatively stable and in the growth for the last 6 months)
  • The landowners must diligently develop their Lands to retain or increase the earnings which are accrued daily based on the development points of the Lands. The landowners must contribute in-game before they can claim the earnings on the dedicated Land management website called, the Land portal.

Resources:

A Land gets a 5% portion of the entire resources, ie. food, gold, lumber, stones, that are collected within its locations across continents. This is like a tax levied from lands. A typical Level 6 Lands accrue about $4~5M of resources daily from their locations across the present 28 continents.

Based on February resource transactions data on Polygon, 10M resources are sold at an average price of $2, yielding a level 6 Land a handsome daily gain of $1 on top of its existing development reward stream in DAI/BUSD.

Additionally, the current level of resource output is expected to grow over time as the current cycle adds 2 new continents every 2 weeks. (52 continents added per annum) The resources levied from these new Lands will continuously increase as long as the game expands and continues to attract new gamers globally.

Resource reserves on land.

WHY LAND AND WHAT TO EXPECT?

1/LAND’s resource system

Holders of the Lands take advantage of the game platform’s growth, as your holdings will grow as new continents are created. It is because you will own a parcel in every new continent existing and ever created in the game.

All of your Lands are designed to levy/accrue additional resources from these newly added continents.

Imagine, You buy one LAND but end up owning hundreds!

2/ $LOKA as a reward:

Starting Q2 2022, the Land reward will be in the form of LOKA instead of DAI/BUSD giving the Landholders advantages to enjoy the governance right and the price appreciation of the LOKA token as the game franchise expands further. Additionally, the rewards will no longer fluctuate on a bad day as it pulls from the LOKA Land reward pool (5% of total supply) instead of the game’s daily revenue.

  • All LOKA rewards for the unsold portions will be entering the DAO treasury for future ecosystem usage.
  • This global system of LOKA distribution will no longer cause a dilution of incentives for the landholders.
  • The LOKA will render other utilities including but not limited to voting rights, staking reward opportunities.

3/ Universal reward pool:

The newly renovated Land system comes with a brand new mechanism, called universal Land reward. For each reward cycle, 20% of the total LOKA to be distributed will be earmarked for the universal reward pool. This scheme resembles the concept often referred to as “universal basic income” and seeks to close the income gap between levels.

All Lands will receive a small and equal amount of reward in LOKA from this pool, regardless of the level of their Lands. This mechanism aims to close the rapidly widening gap between the Lands and to incentivize the acquisition of lower-level Lands.

4/ Other potentials

The game ecosystem is aiming to add new utility cases to the existing set of benefits that the Land offers to its holders. It is very likely to include interoperability, and composability with new and/or existing NFTs in the universe as well as outside of it.

LAND SALE #2

Please find the price table below (Price may be adjusted prior to the sale)

What to keep in mind:

  • All 6 levels will be made available.
  • All the Land sales proceeds after a small service fee (10%) to the development team will be kept in the protocol treasury, owned and governed by the LOKA stakers.
  • Paying with LOKA is strongly encouraged. There will be either discount or additional NFT drop to incentivize those using the game’s native currency. (More will be announced approaching the date of the sale)
  • The upper two quadrants will be sold, including unsold potions from the last two sales + additional zones in the First Quadrant. The portion will include the entire northern half of the genesis continent.

Where?

The existing League of Kingdoms Land portal website will be renovated to hold the sale. Users can log in with their choice of Ethereum wallet, choose the Land of their liking and check out.

Last land main sale #1

When?

The sale will happen over a week and in three phases. The sale will be held on the week of March 14th.

LAND SALE #2 SCHEDULE

- Dutch Auction (48 hours)

The dutch auction starts on 17th March 00:00 UTC (TBD) for 48 hours.

The auction price drop scale is 12.5% of the Floor Price of each level of LAND, and will descend every hour for 48 installments.

- Guild Round (24 hours)

A 24-hour guild round will take place for the qualified guilds with a strong scholarship network and commitment to help grow the League of Kingdoms community and ecosystem around the globe.

Only qualified guilds will be eligible to the round, and each will be applied a cap on how many they can purchase.

*A guild round will be offered at a slightly discounted pricing.

- Public Round (96 hours)

Four days following the guild round will be a primary sale open for the public and will end on 23rd March 23:59.

About League of Kingdoms

League of kingdoms is a massive multiplayer (MMO) strategy game that is centered around building kingdoms and governing the world. Here the player can build a powerful kingdom and army, forge alliances, compete against others, and trade digital assets across the blockchain.

The LANDs are NFTs transparently and verifiably stored on the blockchain network, so players can own and trade freely. Gamers can not only own a parcel of Land, but various resources therein, and the future growth of the game platform.

🌐Website | 🚜Land Portal | 👾Discord | 💬Telegram | 🐦Twitter | 🍏App Store | 🤖Google Play | 🕸️Web

About League of Kingdoms Arena (LOKA)

League of Kingdoms Arena (LOKA) is League of Kingdoms’ native governance token and will be the cornerstone for the game project’s expansion into metaverses where community of gamers can own and thrive.

The LOKA will be utilized for as the currency inside the League of Kingdoms game franchise for all in-game store purchases, such as purchasing packages, skins, goods. Additionally, the LOKA token will act as a NFT booster to create, upgrade, and acquire special NFT assets, including but not limited to Drago and Skin NFTs. The token will be also used to propose and vote on on-chain governance proposals to determine future features, policies, content, and/or parameters of the game. Last but not the least LOKA tokens can also be earned by playing the in-game competition and/or achieving special tasks — for example after each Continent vs. Continent (CvC) battle, winners will be rewarded with LOKA tokens (and potentially rarer NFT item rewards) depending on the performance during the battle.

🌐Website | 📈CoinMarketCap | 📜Whitepaper

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The world’s first and fastest growing blockchain MMO Strategy game

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The world’s first and fastest growing blockchain MMORTS game. (https://leagueofkingdoms.com)

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