Lite Paper
Official Lite Paper of NFT Arena | Oct 20th 2021
Abstract
NFT Arena is a collection of trading cards games (TCGs) built as a community-owned, decentralized application. Users may use any ERC721 or ERC1155 NFT to create in-game assets and battle against others to win their NFTs.
This means that users do not need to buy assets from our marketplace to participate in NFT Arena, albeit they may. The application is free too, and players may earn token rewards by completing daily missions.
NFT Arena is an open source project developed by the Metalayer team. All art and assets in NFT Arena belong to third party users, and all data will be easily accessible, enabling the wider community to develop new tools and new games to bring their own vision & contributions to the NFT Arena universe.
Background
NFTs have taken the world by storm in the last two years, having seen exponential growth and skyrocketing price floors, and Axie Infinity's remarkable success has introduced the world to the potential of Play-to-Earn gaming models.
Countless organizations have joined the hype and are in the process of developing new metaverse universes and games, across various blockchain ecosystems.
Players can earn by:
Competing in ranked PVP to top the leaderboard & win prizes.
Winning NFT cards from opponents.
Selling NFT cards on the marketplace.
Collecting and speculating on rare cards such as "legendaries".
Completing daily quests to farm METAL tokens.
Using METAL tokens for yield farming and/or to acquire node rights.
Vision
NFT Arena was envisioned as a fun way to introduce new people to NFTs and blockchain technology, but quickly grew into more thanks to the inspiration taken from other projects in the space.
The key difference between NFT Arena and a traditional game is that blockchain is used to reward our players for their contributions to the ecosystem.
The key differences between NFT Arena and other blockchain-powered games are that players can win assets from one another, customize every aspect of the game, and to bridge NFTs to other blockchains.
Play-to-earn has already attracted millions of players the world over in the pursuit of a new income stream during the Covid pandemic and is having a wondrous impact in developing nations by providing the population with accessible and steady income in these trying times.
Many of these players are fathers, aunts, and even grandparents who have never used Blockchain technology before, and NFTs are proving to be a new massive force driving adoption!
Mission
NFT Arena aims to achieve tree main goals:
to add utility the many existing third-party NFT projects,
to become an "interchain hub" between blockchains, enabling the bridging of assets,
to distribute all profits to our community.
Metalayer Foundation
NFT Arena is a decentralized project developed by the Metalayer Foundation, all assets are fully owned by the user community, the code will be rendered available on an MIT open source license.
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