“Gamification is the process of adding games or game-like elements to something (such as a task) so as to encourage participation” — Merriam-Webster
As discussed in the Luart introduction article — NFTs have experienced a boom/bust during the different cycles of the 2020–2021 crypto bull run. Some maintained value but the greater portion of the market has seen little success past their initial releases.
More recently, the NFT market found new blood. In the chart above we see daily volume increase over the last several weeks on Opensea.io. Users began warming up to the idea that their jpeg’s may some day be more than just a pfp. Play2earn models like Axie Infinity made it to the mainstream. Projects are beginning to create entire ecosystems around their NFTs and communities, incentivizing users to purchase their JPEGs with chances of earning rewards in the future.
Appreciating JPEGs just as art is only the first layer of the onion. There’s only so much we can do with them collecting digital dust in our wallets. So let’s peel back the onion. NFTs live on marketplaces where users spend endless time and money. Crypto moves fast, there is practically a new protocol coming out every day. So what’s the deal with NFT marketplaces?
We believe the first step in bringing utility to NFTs begins in the marketplace.
Luart’s gamification model will become a standard for marketplaces. Let’s start with the scoring system which is the core of our gamification system.
Scores will be attributed to any user who participates in platform specific events. This includes:
- Trading and Holding NFTs
- Purchasing Luart Boxes
- Participating in exclusive events
- Owning/Holding Luart Avatars
Now let’s discuss the benefits of having a higher Power score:
- Allow us to create a tiered system for NFT mints — the higher the score, the earlier the mint
- Exclusive events, ie. virtual art exhibits
- In developing the platform we will release even more abilities for higher Lua Power scores for the user
LUA Power scores will be attributed to positions on the Luart Leaderboard. This will create friendly competition amongst users and create a positive feedback loop that will later be invested back into more participation on Luart.
Users with top positions on the Leaderboard will also qualify to receive airdrops of our native token. We will release more details on this process soon.
Many gaming marketplaces give users opportunities to buy rare items at discounted rates in randomized packs. Like buying Pokemon card packs in hopes of snagging a rare Charizard. Our system will be similar:
- Users will be able to buy boxes with $UST and have a chance to get rare NFTs under market value.
- Different level boxes will require different Lua Power scores.
- Buying boxes will also contribute to increasing your Lua Power score as stated above
To create even more of a unique experience for users, we plan to launch our own NFTs which will be used as avatars on our platform.
- Only able to purchase through randomized Luart Boxes
- The initial launch will be 100 unique avatars — we will release more as time passes
- Can use avatars in virtual spaces on the platform such as art exhibits
- Future plans include delivering in-platform games
By implementing gamified tools to the platform, the opportunities to create new experiences for users are endless. These are huge concepts but we are up to the challenge. We are still in the development stages and plan to ship these features fast. Stay tuned as we release technical details in the future on our products and features.
We are always looking for developers and creative minds who are interested in joining us on this journey in building the first gamified NFT marketplace in the Terra Ecosystem. See the links below to reach out.