Nifty Island introduces new Play to Earn system featuring exclusive Palm NFT perks
After releasing the first $ISLAND token utility update in the form of a V1 litepaper last month, followed by play to airdrop distribution info also in September, the developers of 3D gaming metaverse Nifty Island are now back on schedule with the unveiling of a detailed breakdown on the upcoming play to earn system that is set to go live after TGE. Some details on future utility for Palm holders has also been revealed. Let’s check it all out!
How Will Nifty Island’s P2E System Work?
Once the final wave of the ongoing Play to Airdrop (P2A) Campaign is over and the TGE officially takes place on November 1st, 2024, the UGC gaming platform’s own P2E system should soon go up and running to enable the web3 gaming community to start getting live in-game $ISLAND earnings.
Players will be able to earn the $ISLAND token in-game by converting the Blooms currency that is earnable through gameplay and quest completion, but also from having players spend time on your island. The more Blooms you have, the more $ISLAND tokens you will be able to claim every 10 days (number might change). This will be possible to do in what is referred to as the ISLAND Rewards Dashboard. You will be able to access this dashboard through the platform’s official website, which will not only let you see and claim your pending token rewards, but also give you the ability to stake them in order to increase your Island Power Level (IPL). Increasing the IPL will give you a boost to the ISLAND rewards you can get from in-game activity, resulting in more tokens earned from your Blooms than you’d usually get without staking. The more you stake, the more tokens you are likely to receive from Blooms.
Basically, players and creators will be rewarded based on their Bloom earnings using a fixed reward pool distributed periodically through reward cycles. A reward cycle could be a 10-day period or another interval that will be confirmed later on, with the Blooms earned during that period possible to convert to $ISLAND tokens at a dynamic rate. This rate can be influenced by staking tokens. Each player however has a maximum earning limit for every reward cycle. This earning cap can be increased by holding higher-tier Palm NFTs.
If you contribute to this web3 gaming ecosystem by being an island creator delivering high-quality quests or other engaging content for players to enjoy, then you could end up getting bonus $ISLAND rewards for your efforts.
Source link
#Nifty #Island #Unravels #Play #Earn #System #Palm #NFT #Perks
