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DeFi Land Announces Gen-0 NFT Launch and Land NFT Seed Sale


coinquora.com 31 January 2022 12:24, UTC
Reading time: ~2 m

DeFi Land has announced its Land NFT Seed Sale and therefore its gamified Gen-0 NFT launch. The launch involves 7,500 NFTs on the Solana blockchain which would be distributed across two platforms. 2,500 DeFi Land Seed NFTs will be distributed through the Magic Eden Platform on February 8. Meanwhile, 5,000 DeFi Land Seed NFTs will be distributed through the DeFi Land website the following day.

Users can purchase the DeFi Land Seed NFTs for 2 SOL on both platforms. Eventually, users can trade on a secondary marketplace on Magic Eden.

Once bought, users will have to water the NFT seeds for 30 days using DeFi Land (DFL) tokens. As a result, the NFT Seeds would turn into 1 to 4 Gen-0 NFTs which will be used for in-game activities and exclusive advantages. The DeFi Land team will burn all DFL spent which will result in a circulating supply reduction of up to 6%.

The Gen-0 NFT Launch allows players to earn Core NFTs necessary to unlock DeFi Land’s Play-to-Earn (P2E) functionality. This will eventually arrive in late Q1 of 2022. The Core NFTs function as collectibles and provide access to several minigames in the DeFi Land ecosystem.

DeFi Land’s public beta has reached 19,500 verified users, 3,000 daily active users, and 8,000 weekly users. In late 2021, several investors funded DeFi Land for 4.1 million. These investors included the likes of FTX, Solana Foundation, Alameda Research, Animoca Brands, NGC Ventures, Jump Capital, Gate.io, and many others.

In December 2021, DeFi Land announced its public testing phase after reaching 1st place at Solana’s Hackathon that summer. The public test followed a closed beta test which reached 3,000 authenticated users. 

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