What is the lunar nation?
Moon Nation is a new tech company combining two of the fastest growing industries: cryptocurrency and gaming.
The main goal of Moon Nation is to create a video game – a next-gen multiplayer space role-playing game, to be precise – that gives players a new dimension of gameplay by tightly integrating a custom DeFi token into the game’s design. In the case of Moon Nation, this DeFi token is called $ MNG (acronym for Moon Nation Game). This type of integration offers gamers a whole new economic system that is not available in traditional video games and blurs the line between in-game money and fiat currency.
Play on the Blockchain
Imagine a brand new player who enjoys their game and wants to expand the reach of their gameplay. They decide to get a Moon Nation Passport: a unique, game-specific NFT that allows its owner to travel outside of the game’s starting area and explore different planets. They can easily acquire $ MNG through an exchange, then use it to purchase an in-game passport. Any additional MNG they have could be spent on other in-game NFTs, or exchanged for in-game currency to be spent on. objects and weapons.
These in-game NFTs serve several purposes at the same time. They can be seen as collectibles, like works of art, but they can also affect your game, like the passport’s ability to allow you to travel to new places. These NFTs can also be viewed as a store of value. For example, NFTs can be traded or sold to other players. Therefore, if you buy an NFT passport when the game launches, you may be able to trade it in for a lot more a year later once the price of $ MNG increases.
These NFTs can also incorporate economic pressures into their design and reward those players who keep them in a growing market. The utility or power boost that an in-game NFT provides to your in-game character can be increased over time, depending on how long you’ve held it without trading or selling it.
Crypto vs. Casino Tokens
Consider another scenario. A player can win an in-game currency prize after completing an objective, winning a contest, or finding treasure – this is a common occurrence in traditional games. But in a blockchain-based game, the player can exchange this in-game currency for $ MNG tokens, which can be exchanged for fiat currency and spent in the “real world”.
This system allows players to use $ MNG tokens like casino chips: you can buy-in by exchanging $ MNG tokens for the in-game currency, then spend your in-game currency to both enhance your experience. game and try to win Following in-game currency, which can then be redeemed for $ MNG. In other words: you can enjoy while you play!
The $ MNG token
This system relies on a well-designed token, which brings us to the creation of $ MNG. Moon Nation Game token works on Binance Smart Chain and launched on May 27e, accompanied by a tidal wave of promotional material, influencing partnerships and community support.
The token’s launch date coincided with a period of uncertainty in the crypto market, thanks to Bitcoin’s price volatility. But despite these circumstances, the token was able to grow to a market cap of over $ 1 million in its first week while acquiring 3,400 holders. The coin’s success can be attributed to its carefully crafted tokenomics, extensive promotional efforts, and support from its design team and community.
Build trust
The development and expansion of the play was led by Moon Nation CEO Ben Todar (@BenTodar) – an experienced crypto-trader whose investing knowledge has been built on a foundation of over-the-counter stock trading. Ben’s decision to completely doxx himself in the early stages of the project gave credibility to the token launch and gave interested investors the confidence they needed to join the movement.
The project set out to inspire even more confidence by seeking a full audit of the $ MNG smart contract from experienced blockchain developers at TechRate, which confirmed the longevity, reliability and technical design of the token.
Tokenomics
The $ MNG tokenomics were chosen to achieve four distinct goals, with a four-way allocation of each 10% transaction fee:
3% of each trade is sent to our liquidity pool on the PancakeSwap exchange. This influx of tokens is crucial to maintain price stability over time. As the liquidity pool increases, the amount of price change caused by each trade decreases, making the market less responsive and price manipulation less important.
3% of each transaction is redistributed to all token holders, in proportion to the number of tokens of each holder. This encourages investors to collect as much MNG $ as possible and hold onto them for as long as possible. Those who had held their $ MNG since launch day earned 7.5% interest on their tokens in the first week alone from these reflection payments.
2% of every transaction is sent to a dead, or “burnt” wallet. This removes them from the total supply and causes gradual deflation.
2% of each transaction is reinvested in the Moon Nation project by covering our ongoing marketing and game development costs.
Strategic financing
While the designated $ MNG tokens for project costs are a useful source of funding going forward, Moon Nation is fortunate to have its short-term costs fully covered by the 600 BNB collected during its presale and release. whitelist sale. Many past token projects have been forced to lower their own prices by selling their own tokens to cover expenses.
Moon Nation chose to learn from this mistake made by others and planned a three-part launch strategy that would give them multiple rounds of fundraising. The team will not be forced to sell their own $ MNG tokens in the future, once the market has had time to develop and the price has made significant gains.
Join the Nation of the Moon
There is so much more to say about this innovative project, but we leave it to you to take a look at the other educational resources that have been published on the subject.
To learn more about the project and follow its progress, visit its website at MoonNation.org or follow its Twitter at twitter.com/MoonNation0.
To speak directly with CEO Ben Todar and the rest of the team, join the Telegram channel at t.me/MoonNation, or send an email to [email protected].
The rest of his social media pages can be found at linktr.ee/MoonNation.
Opinion: The information in this article and the links provided are for general information purposes only and should not constitute financial or investment advice. We recommend that you do your own research or consult a professional before making any financial decisions. Please recognize that we are not responsible for any loss caused by any information on this website.