It was a perfect week for Solana’s blockchain. While SOL surpassed Dogecoin (DOGE) and became the seventh largest asset in market capitalization, with a 64% appreciation in the last seven days, ATLAS, the native token of Star Atlas, a game based on Solana’s blockchain, did its debut yesterday, recording an appreciation of more than 11,000%, according to data from exchange FTX.
Star Atlas is still under development, but its utility token has already caught the attention of investors. ATLAS was initially sold through an IEO (Initial Exchange Offering), or Initial Offer via Exchange – a kind of ICO (Initial Offer of Currencies) in which the token issuer and the broker determine the rules of the initial offer.
ATLAS was launched only on the FTX and on the decentralized exchanges (DEX) Radyium and Apolo-X, with R$ 5 million in ATLAS made available in the first one and in the other two a total amount of R$ 2.5 million was made available.
The initial price was set at R$0.007215. On the same day, it reached R$0.88, and at the time this text is being written, already publicly listed on the FTX, it is worth R$0.84. The volume traded, however, is still small. Only BRL 486.7 million.
Star Atlas is another game based on the “play-to-win” model (play-to-earn) and takes place in a futuristic sci-fi setting, in the year 2620. Three major factions cohabit in the game’s private universe and vie for scarce resources and power: humanity, a consortium of alien races, and a race of sentient droids.
The game combines strategy, as players need to interact with other players and rival factions; exploration, as its universe is vast and several stars can be discovered and investigated; to reach them it is necessary to navigate space in flight simulations; and, finally, it is necessary to extract resources to generate revenue in ATLAS.
The developers of the space adventure game promise cinema-quality visuals. Therefore, even before being released, Star Atlas already feeds expectations that it will be able to go beyond the blockchain gaming bubble, conquering space in the broader market of the electronic games industry.
The game has an economic proposal that unites the decentralized finance market (DeFi) with non-fungible tokens (NFTs), with its own marketplace, where vehicles, tools and other equipment useful in the game can be traded, and a connection to DEX Serum, allowing players to use their ATLAS to make staking or provide liquidity.
Another feature of Star Atlas is that players will be able to take on a profession and monetize it by providing services to other players.
Star Atlas also has a governance token, POLIS, which will allow its holders to express their opinion on issues related to the game and its community. Like ATLAS, POLIS started to be sold yesterday, at an initial price of R$ 10.40, reached a maximum of R$ 72.74 and is now being traded for R$ 66.74.
It recorded an appreciation of approximately 541%. More modest than ATLAS, but still considerable. Only 20% of the total POLIS stock will be sold directly to the public, while the rest will be distributed to those who make staking of ATLAS. This may be one of the explanations for its hyperbolic valorization.
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