Published on: 15/09/2022
Team NODE to launch new project with renewable NFTs
Team NODE has announced that its upcoming play-to-earn racing game, E-Racing.NODE, will employ the Renewable NFT concept to combat the untrustworthy reputation blockchain gaming has.
The announcement came after play-to-earn project HeroCat lost 99.9 percent of its in-game token value after it made a large-scale sale and transferred around $151,000 worth of Binance USD. The team behind the project then went silent without updating its community. Unfortunately, such “rug pulls” are not uncommon in the blockchain gaming sphere.
A recent report by Chainalysis indicated that over $2.8 billion in cryptocurrency was stolen or rug pulled in 2021 alone. With rug pulls and scams being so prevalent, Team NODE is looking to provide its community with a safe and sustainable play-to-earn experience with its blockchain projects and the upcoming metaverse.
The developers are planning to tie their three projects, E-Racing.NODE, E-Plants.NODE and an untitled third game, together by making NFTs in one game usable in the other. E-Racing.NODE is a sci-fi racing game where users can own and develop a car engine NFT that is usable in E-Plants.NODE. Players can use the car engine NFT to grow plants which will be usable in Team NODE’s third game.
This approach ensures that developers need to continue supporting all of their games because of the shared NFTs while increasing the utility and value of said NFTs. A game’s community won’t need to fear abandonment, will not be susceptible to rug pulls and can focus instead on enjoying the game and growing the community.
“NODE aims to build a structure that can continuously circulate the blockchain game ecosystem in the future. Players would be able to transfer their assets and items from a platform to other without losing values,” wrote NODE in its whitepaper for E-Racing.NODE. “NODE will create a world where game developers and players enjoy their rights suggesting a healthy direction for the blockchain game platform.”
Additionally, Team NODE is attempting to create an environment where any player can enjoy blockchain gaming without worrying about losing their investment or potential environmental harm. Therefore, a portion of each game’s commissions and fees will be spent on fundraisers and donations to support companies focusing on reducing carbon emissions.
NODE metaverse and ecosystem
As part of its plan to ensure that users will feel confident in the project’s future, Team NODE released a roadmap. The developers are planning to create a NODE metaverse where all NFTs and tokens obtained in one game will have a use in another game. There are also plans to reward early metaverse adopters for their loyalty and trust.
“There should be no more rug pulls in the P2E market. Users need to check whether the project has an ongoing plan,” said a NODE administrator in a press release.
In the interest of building a long-lasting community, the developers are creating an ecosystem where loyalty is rewarded by creating opportunities for users to profit significantly as the metaverse grows. Players who choose to reinvest into the metaverse will be vastly rewarded, incentivizing users to stay and grow the community rather than cashing out and leaving.