POLIS and ATLAS, the two native cryptocurrencies of the long-awaited Star Atlas game being built on Solana’s blockchain, have valued more than 50% since Thursday (2), the day they were released.
POLIS, a governance token that will allow its holders the right to influence the direction of the game and its economy in the future, began to circulate yesterday at a price of US$8.95. This Friday morning (3), however, the asset reached US$ 13.90, an appreciation of 55% in the period, according to CoinMarketCap.
The ATLAS – a utility token that will be used for all in-game and out-of-game trading and for the distribution of rewards – was launched at US$ 0.083 and, in less than 24 hours, grew 61%, setting a new price record $0.134.
Cryptocurrencies debuted on the FTX and decentralized exchanges (DEX) Raydium and Apollo-X through a Initial Exchange Offering (IEO) — an alternative form to ICO in which brokerage firms bridge the gap between issuers and investors, establishing their own rules of participation.
At FTX, approximately US$1 million of ATLAS and POLIS tokens were made available for trading. In the other two DEXs, as the project described in the offer announcement, another $500,000 in coins were sold.
According to data from CoinMarketCap, both currencies registered a volume of US$ 110 million this Friday, with FTX concentrating most of this volume. The assets’ market capitalization is also similar and remains at around US$250 million.
Star Atlas is a play-to-earn — play to win — model game that has been in development since 2018 on Solana’s blockchain (SOL). The game will be a space exploration MMORPG that will feature three main factions (humans, aliens and droids) that fight each other for resources, territorial conquest and political domination.
Although it still doesn’t have an official release date, Star Atlas is already able to attract gamers’ attention by promising a high graphic quality that intends to break the blockchain gaming bubble and gain ground in the big gaming industry.
At the same time, the gaming ecosystem will have a complex economy that is fully integrated with the decentralized finance (DeFi) market. Players will be able to earn rewards in the form of the ATLAS token by doing missions, exploring planets and accumulating resources that can be upgraded and offered for sale on the game’s official marketplace.
In addition to trading resources on the market, users will also be able to sell their services, as Star Atlas has a profession structure that allows the player to have specific skills and monetize them, being pilot, builder, bounty hunter, pirate, among many others. In late August, the game released its first trailer: