Published on: 19/08/2022
Cardano’s biggest metaverse Cardalonia announces IEO on P2PB2B
Cardano Web3 project Cardalonia, which claims to be developing the biggest metaverse ecosystem on the platform, has announced its Initial Exchange Offering on P2PB2B. The IEO will begin on August 22 and end on September 9.
The Cardalonia token pre-sale has been exceptionally successful, with less than 30 percent of the total allocation remaining in the $LONIA token sale, meaning that more than 70 percent of the total allocation has been sold out in just over four days.
Early investors could buy Cardalonia governing tokens, $LONIA, at the lower entry points before the exchange listing. Also, holders of the LONIA tokens could participate in the staking vault of Cardalonia to increase their rewards and improve their chances of getting early access to the Terrania Land NFT sale. Additionally, $LONIA allows players to vote on projects that would affect the development of the Cardalonia ecosystem.
The pre-sale for the Cardalonia Lands NFT will begin after the October snapshot. Only those who have already invested in at least 7,000 $LONIA and have 200 ADA in their wallets will be able to participate.
Development progress, successful seed round
The team behind Cardalonia has previously provided an overview of the project, saying that the game will be a fully customizable virtual world that would enable players to create and own their own experiences on the blockchain. It also noted that the project would utilize the security of the Cardano ecosystem to create the 3D metaverse game.
The developers had previously raised over $400,000 in a pre-seed round, which it said would be used to create a creator-centric platform allowing developers, artists, and members of the metaverse community to share their works. It also claimed that several prominent blockchain figures, including Hedgespur Capital, participated in the pre-seed round.
Other than using the funds to start the project, the team would also use the funds to expand its already established strategic partnerships, hoping to bring more people into the metaverse community.
Cardalonia development team is confident that the game will eventually become a multi-chain ecosystem. In addition to that, the game will have in-game portals that will allow players to easily experience multiple other worlds.
“We believe Cardalonia will become a sprawling, decentralized, massively multiplayer and multi-chain ecosystem of many interconnected worlds. With each world having in-game portals to many other worlds, as well as the ability for players to easily warp between their favorite worlds at any time,” the team said.
The developer team further collaborated that the game is still in its early stages of development and is still in the process of creating its first clan. The clan will be crucial for players as it allows them to “enjoy the exquisite treatment in Cardalonia.”
“Cardalonia is made up of clans as users who possess land NFTs will be able to claim and join a clan with an Avatar to be able to experience Cardalonia,” the statement continued.
Lastly, the team said on Twitter that the Cardalonia Marketplace, which will be an internal NFT marketplace, is currently in development. It will allow players as well as artists to trade and buy and sell generated assets. Players can also purchase land and acquire in-game power-ups.