MyMetaverse Introduces NFT Real Estate Tokens for Minecraft

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In Brief
  • MyMetaverse releases NFT real estate tokens for Minecraft.

  • The tokens can be earned by simply playing the game and may be used to buy in-game plots of land as NFTs.

  • The NFT real estate tokens can be bought, sold, or traded on decentralized marketplaces.

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NFT gaming network, MyMetaverse, has announced the rollout of real estate NFT’s that will be awarded by playing Minecraft. 

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Non-fungible tokens (NFT) continue to gain traction in the world of gaming with MyMetaverse’s launch of NFT real estate tokens. The NFT game network runs on the Enjin Ecosystem and mints tokens to be used in online games. 

Its most recent project launch allows gamers on the MyMetaverse Meta City Minecraft server to earn these real estate NFTs by simply playing the game. The tokens are minted via Enjin’s ERC-1155 standard.

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When integrated into Minecraft, virtual real estate allows players to take ownership over their land in a way that feels more like real life than a virtual one. The biggest difference to “owning” property in Minecraft as an NFT will be the ability to “maintain tokenized property and trade it on decentralized marketplaces.”

The tokens are dynamic, which allows Minecraft players to change the names of their NFT real estate. The custom names will extend out of the game and onto the tokens, allowing them to be reviewed in ERC-1155 blockchain wallets. The valuation of the materials placed on their NFT land will also be tracked on the tokens. 

Digital real estate might greatly affect the way gamers play Minecraft online. This is because if players add structures to their NFT real estate, the price of the token can fluctuate.  

In a statement, CEO of MyMetaverse Simon Kertonegoro stated that: 

“We are doing the opposite of what people expected us to do with our real estate NFTs. Instead of charging large sums of money for them, we’re giving them out for free, instead of creating NFTs that represent content that anyone can view, these unlock special benefits for owners, and instead of minting NFTs that are static, we have created dynamic NFTs that evolve alongside the owners’ in-game experience.”

As of this morning, there are 70 Meta City Real Estate NFTs that players can achieve on the Meta City server. To earn them, players must save up “Capital Coins” which are in-game centralized currency. Earning them requires things that the game naturally wants you to do such as eliminating mobs of enemies.

Another way players can earn Capital Coins is to create custom minigames within Minecraft and charge entry fees to play them. To incentivize this, creators can also reward players who successfully beat their minigames with blockchain assets from any connected product.

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Matthew De Saro is a journalist and media personality specializing in sports, gambling, and statistics. Before joining BeInCrypto, his work was featured on Fansided, Forbes, and OutKick. With a background in statistical analysis and a love of writing, he takes an outside-the-box approach to reporting news.

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