What’s happening at LoK Land Market? — Part 1. Understanding Land Reward Program & Land Market Status
What is the difference between a blockchain game and a traditional game? There are already a lot of fun games in the world, but should I pay attention to the advantages of blockchain games? The biggest difference between blockchain games and traditional games is that there is a market where users can convert the items used in games into blockchain tokens and own them as digital assets, and trade them with tokens such as Ethereum and DAI. Last July, a game that showed new possibilities for blockchain games was released. League of Kings(LoK), the world’s first MMO strategy game in which users own, trade, and govern items.
League of Kingdoms is an MMO Strategy game where gamers fight for dominion. You can fully own and seamlessly trade digital assets through NFT technology. You will participate in game governance through transparent voting and congress system. — LoK official site
Users can own LoK Land, which is the background of gameplay, and it rewards Land owners for their contribution to the game by providing resources in Land and its Land to the game ecosystem. The compensation will be paid differently depending on the level of Land and development. About five weeks after the game’s launch, the cumulative compensation amounts to 11425 DAI. (For more information on Land rewards, see official blog: https://medium.com/league-of-kingdoms-eng/land-introduction-31a1b75b4866)
According to figures compiled by NFTBank.ai, as of August 11, there were a total of 560 LoK token holders, 2,931 Lands were released in presales, and 895 Lands were traded in the secondary market, with 3,800 Lands traded. Especially the market volume and its growth are interesting. The total market volume is $319.835.28, up $28,111.93 from last week. If you look at both the presale and the secondary market, it has increased 9.6% compared to last week, and since all the transactions occurred in the secondary market, we can see that the growth of the secondary market size was 16.6% compared to last week.
What’s the inside story of this market growth, and what’s the background of that growth? How much, on average, would each user be rewarded? How many rewards did they give to the land? In this series, let’s take a look at (1) the actual compensation status of LoK’s Land reward program and market transaction status and (2) how to find a Land asset worth investing in, and finally, (3) we’re going to have some time to practice the best way to buy LoK Land based on the previous contents. More specifically, let’s look at:
Part 1. Understanding Land Reward Program & Land Market Status
- How many Land rewards have users received?
- How many lands were supplied to the market through presales?
- What is the actual Land volume & average price in the market?
- What is the change in the volume of trade and transaction prices over time?
Part 2. Find a Land token worth investing in
- What’s the current volume of Land tokens and the price of the listing?
- What is the difference between the actual sale price and the listing price?
- What is the land with the most cumulative rewards and how much?
- The sale on OpenSea, is it worth the price?
Part 3. Best way to purchase LoK Land
Part 3 may be easier to feel, so please read Part 3 first. If you don’t understand it or want to analyze it in more detail, it would be helpful to read Part 1 and Part 2.
All of this can be found at the LoK Feature dashboard on NFTBank.ai. Based on this dashboard, let’s look for answers to the previous questions. Take advantage of this dashboard if you want to keep monitoring your market status: https://nftbank.ai/dashboard/leagueofkingdoms
Part 1. Understanding Land Reward Program & Land Market Status
1. How many Land rewards have users received?
LoK Land is divided into six development levels, with different amounts of resources placed on the land and the location on the entire map depending on the initial level value. Land compensation is also different depending on the level, and the interesting thing is that the initial Land level is not permanent, and the Land level may rise or fall every Monday depending on the development points. In other words, if you play actively on the ground and have a lot of development points, you can raise the level of Land. The structure is to reward users more who have worked hard to develop their Land even if they bought a lower level land rather than users who simply paid a lot of money to buy and retain land in a good location. As the Land level rises, the DAI rewards that can be taken from the entire rewards pool also increase. They implemented “Play to Earn,” which we’ve always talked about in blockchain games, with this Land reward system.
Recently, I heard that the average compensation of 300DAI per day is being offered to the users who own Land, aren’t you curious about how much of the best rewards the users have received? If you go to the ‘REWARD STATS BY ZONE’ page of the NFTBank.ai LoK Featured dashboard, you will find the leaderboard at the bottom. This is the dashboard showing the top 100 users in the order of LoK Land’s cumulative rewards.
According to the data, the total cumulative rewards for TOP100 users are 8999.37DAI. With a total of 560 users with LoK Land tokens and a cumulative total rewards of 11425DAI, approximately 17.8% of users have received 78.7% of the total rewards.
TOP100 users were compensated from 1,359DAI at most to 22DAI at least, with an average compensation of 88DAI. (Tip: If you’re curious about the top user’s portfolio, click ‘View’ in the ‘Profile’ column on the leaderboard or do a Wallet Search yourself!)
2. How many lands were supplied to the market through presales?
The LoK Land tokens, which are awarded these Land rewards, were sold in two presales on May 25 and June 5. According to the LoK, there are no main sales plans for the time being after the first and second presales. Therefore, the volume sold at the time of the presales can be seen as the total quantity available to Land buyers for the time being. If you are interested in LoK Land market, you need to review the presales results. 317 people participated in the first presale, which started on May 25, and a total of 1,891 Land tokens were sold.
The average price of the Land sold at the time was $38.12 (Note: Lands were traded in ETH at the time, but due to the recent surge in the ETH-USD exchange rate, writing in ETH was confusing, so it was written on a USD basis considering the exchange rate at that time). Meanwhile, 224 people participated in the second presale, which started on June 5, and a total of 1,040 Land tokens were sold. The average price of the Lands sold at that time was $54.9. Therefore, we can see that a total of 2,931 Lands were supplied over two presales. The cumulative rewards of 11,425DAI were made for 2,931 total supplies, so the simple average is 7.65DAI per Land.
In presales for the first and second rounds, level 4 Lands, with an average price of $59.37 sold the most with 792, levels 2 and 3 were sold over 700 at similar levels. On the other hand, there was not much price difference between level 2 and level 1, which was located on the outermost edge and had the largest volume, and about 350 level 1 Lands have sold, which is about half of level 2. Meanwhile, levels 5 and 6 have sold 266 and 69 respectively. The presale tab, available on NFTBank.ai’s LoK Featured dashboard, provides more details such as the Burn down aspect, holder and flipper ratio, average holding period, ROI for top buyers, etc. for presale 1 and 2.
3. What is the actual Land volume & average price in the market?
So, how much are these presale Lands on the market now? The average price of the Lands currently being sold at OpenSea, the second market, is $219.5, up four times from $54.9 for the second presale. The average number of sales and price sold for each level are as follows.
The most-traded Land is level 3, traded on average at around $223, and the price deviation is also not large at 75.72. A lot of supplies were released through the presales, and the price was very good for gameplay and rewards, so the deals were very successful. Meanwhile, the level with the greatest deviation in price is level 5. Level 5 Lands were sold in presales at around $100, but now they are being sold for an average of $908 and is traded at a minimum of $221 to a maximum of $1700. If you’re a user who bought Lands in presales, you’ve earned at least double to 17 times as much profit. Level 6 Lands were also sold for $175 at the time of presales, but they are being traded at least $1,396 to up to $1996.92 on the market now.
4. What is the change in the volume of trade and transaction prices over time?
LoK first launched the desktop version in early July and then launched the mobile version in late July. With the launch of the game and the introduction of the Land rewards program, transactions at OpenSea in the secondary market were also brisk. In mid-July, there were over 75 transactions per day for a limited time. Recently, an average of 8 Lands has been traded per day.
Let’s check the price trends in the last two weeks. If you look at the average market price shown in the blue line in the graph below, the average market price is moving between at least $116 and up to $883. As LoK Land has a large price deviation by levels, it is important to note the 1SD range, which represents the deviation from the median (black median line) rather than the average price. There was a temporary high price deviation on August 3rd and 6th, and we can see that there has been a relatively low deviation and a low price transaction in the last week. It can be interpreted as a phenomenon caused by the urgent disposal of Lands by users who recognize that if the gameplay is not active, the Land level will drop and the rewards will be lowered. This indicator can be found in the PRICE AND MARKET tap provided by the LoK feature dashboard in the NFTBank.ai. With the latest price and market data, it is necessary to constantly monitor market conditions to make reasonable investment decisions.
Wrapping up Part1…
In this article, we took a closer look at how the LoK’s Land rewards program is operating, which showed what the true ‘Earn to Play’ is and how land tokens are being traded in the market. LoK’s Land token itself is well worth investing in, and it’s all the more interesting that if you play together, the Land owner can bring up the value of Land himself. Why don’t you buy the right land, develop more resources as the land level goes up, and bring more kingdoms(users)? It will come back to you as a development point.
In the following article, we will learn how to find a Land token that is worth investing in. More specifically, let’s find out where the Land with the most cumulative rewards is and how much it’s being traded. We’ll also look at where the items on OpenSea are located on the map, how the surrounding land prices are, and how the rewards are being made, and look for Lands worth as much as or more than the actual prices.
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