MIATA, an NFT marketplace, will launch on Terra Classic today.
In a tweet yesterday, popular community validator LUNC DAO disclosed that MIATA, an NFT marketplace, is set to launch on the Terra Classic network today.
The community has scheduled an ask me anything session for 9 pm UTC to discuss the launch. LUNC DAO will host it alongside community influencer and validator Classy.
— Classy 👾 (@ClassyCrypto_) November 14, 2022
MIATA’s launch will also see the minting of 2000 MetaGloria NFTs, which users can buy and sell on the marketplace.
It is worth noting that MetaGloria is a play-to-earn role-playing game set to launch on the Terra Classic Network in early 2023. A team of Ukrainian game developers and crypto enthusiasts are behind the project, with the aim of onboarding gamers to the crypto industry and burning excess Terra Luna Classic supply, per details on its website.
The MetaGloria project will mint two collections of 3000 unique NFTs. In addition, NFTs will have over 100 individual traits, according to the MetaGloria website.
The project says users will be able to burn LUNC when the game launches by swapping it for an in-game token called GLS.
MetaGloria is one of many NFT projects set to launch on the Terra Classic network and the MIATA marketplace. For example, LUNC validator HappyCattyCrypto also disclosed that the LUNCPenguins NFT collection would be launching soon on MIATA in a tweet on Saturday.
The collection of 1000 unique NFTs will have a minting price of 200k LUNC, about $34 at current rates, according to HappyCattyCrypto. Notably, users will also be able to receive rewards by staking their tokens, attracting more yields for rarity.
Unsurprisingly, members of the LUNC community have expressed excitement at the latest developments. One user notably thanked developers for building on the Terra Classic chain.
The NFT marketplace launch represents a significant step in the network’s shift towards utility to find more effective ways to burn LUNC, providing users with more exciting and valuable ways to use their tokens. Notably, the Terra Rebels launched a lottery game over two weeks ago that has so far burned over 18.5 million LUNC and rewarded winners with over 38 million LUNC in prizes.