“KlayCity will officially receive investments from Krust, an affiliate of Kakao Corporations that manage blockchain investments and global blockchain businesses.”
Source: Financial News
KlayCity is a P2E Game. There was big news this last December 20. Krust, firm that’s in charge of overseas investment in blockchain companies, has decided to officially invest in KlayCity.
KlayCity is a “Play to Earn (P2E) game based on Klayton.” Klayton, a blockchain mainnet, was developed by Ground X, a blockchain subsidiary of Kakao.
KlayCity P2E Game based on Klayton.
KlayCity is set on the polluted earth, with 28 popular cities turned into nun-fungible tokens (NFT). In essence, it is an NFT real estate game that allows you to earn money by playing it.
The game is currently in its alpha stage, without the P2E feature. But the company announced that each district would be sold at 500 KLAY in the presale period (January). Users in the game can earn money by exchanging ORBs (utility tokens) with $LAY (game token).
According to the Whitepaper, each wallet can purchase a maximum of three mint passes, once the mintage rights expire after 24 hours, users will receive Tier 1 – 3 District NFT at random.
The Tier 1 Districts generate 50 LAY007, the Tier 2 Districts generate 30 LAY007, and the Tier 3 Districts generate 10 LAY007 every 30 days.
Players can group 16 LAY007 and 20,000 $ORB tokens, new randomized earth (Tier 1 – 3) is provided seven days after.
The $ORB token is used to upgrade or explore the earth, and the generation amount decreases every year. In addition, it can be acquired through scavenging.
As for the $LAY007, it is a secondary token within the KlayCity ecosystem and is used to explore new lands.
The Price of Land Minting
You need to join ‘Land minting’ before you can start farming, exploring, scavenging using your land, and turning them into profits with your $ORB.
As mentioned previously, minting is slated to start next January, and its price is 500 Klay. Since 1 Klay is worth 1,464 Korean won (as of 11:00 a.m., December 21), 500 Klay is approximately 732,000 won in total. There is a chance that the price would go up around the land presale period, but no one can predict.
The game announced that 1,000 districts would be available for minting starting next January. But according to its whitepaper that the actual number is 900. Among the 1,000 districts, 25 are reserved for teams, and 75 will be used for marketing and event promotion purposes.
And the remaining 900 districts would be available on a first-come, first-serve basis. The game looks rather intriguing, and I’ll make sure that all of you reading this blog will become the lucky ones to get your hands on the available districts once the schedule is released.
At the moment, the expected districts up for minting are Seoul, Manhattan, and Dubai. I personally would like to own Seoul City. The districts you own generate tokens for every 30 days via staking, and I estimate that each district would be sold with varying special values, other than the Tier 1 – 3 divisions mentioned above.
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