Cardano Supports Metaverse Project Pavia’s Land Price Shoots Up
Last week, Cardano Network launched Pavia, a gaming application on the Metaverse. This stands as the first metaverse project to be run on the Cardano blockchain.
The use of non-fungible tokens (NFTs), which work with the same blockchain technology as cryptocurrencies, is increasing. They allow investors to get tokenized assets of their favorite artifacts, idols, places, etc. NFTs create representations of both tangible and intangible objects.
According to the design, Pavia has issued about 100,000 land plots. Striking each plot of land is a non-fungible token, NFT, which possesses individual coordinates.
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The presale of the packs will start at more than 60% between October and November since 2021. There is also a rush for the remaining portions that will be on sale in the first quarter of 2022.
The functionality of Pavia’s native token is like an in-game asset. An airdrop of Pavia’s native token was created for NFT landowners. This was after the blockchain snapshot in December 2021.
According to data from MuesliSwap, a Cardano-based exchange, Pavia tokens sell for about 20 cents per coin at press time. It also has a market cap of over $107 million.
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In addition, there are more than 8,300 landowners in Pavia. According to the data, the users were unable to wager any assets above their country on Monday. Pavia caution papers have warned customers that they will not be able to visit the lots or use any content. This had to do with the development phase of the plots.
More desire for Metaverse projects on Cardano
The rise of Pavia on Cardano is during the period of incredible engravings for virtual plots. Currently, virtual parcel sales run into the millions of dollars on various blockchains such as Ethereum.
The value for landplats on Pavia goes up to 30,000 Cardano on CNFT, the Cardano NFT marketplace. This amount equates to approximately $45,600 at press time.
The Metaverse has been getting more attention lately. It is a virtual world that offers people unlimited interactions like the real world.
This distinguishing factor is the digitization of business operations. The functionality of the Metaverse is attracting several companies as they intend to create their appearance on the platform.
One of the companies interested in the Metaverse is Binance.US, which is developing on Portals, an office. Portals is a Solana based metavers project.
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Also, Samsung, a global electronics manufacturer, launched a metaverse brand of its flagship store in New York City. This launch took place in January at Decentraland.
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