4 months ago 2 min read

Can Terra Classic’s New NFT Marketplace Send LUNC to $1?


For fresh projects vying for the top slot, the NFT sector has been a competitive environment. And soon it will have a new competitor from the Terra Classic network to contend with powerhouses like Polygon NFTs & Flow.

According to a recent tweet from renowned Terra Classic community validator, LUNC DAO, the new NFT market, MIATA, will launch on the Terra Luna Classic platform on November 14. Additionally, 2,000 MetaGloria digital collectibles will be produced after MIATA's launch, and users will be able to buy and sell them on the platform.

New P2E NFT Game From Terra

In the first few months of 2023, the Terra Classic Network will launch The MetaGloria, a play-to-earn game. A team of Ukrainian developers who are also some aficionados of cryptocurrency gaming are in charge of the project. According to the project's website, its goals are to spur more players to invest in cryptocurrencies and to reduce the number of Terra Luna Classic tokens in circulation.

The MetaGloria project will also print two sets of NFTs, with a combined total of around 3000 NFTs in each set. To cater to the numerous consumers of digital art, the collections will have more than 100 distinguishing features. As per the project's design, users can burn the LUNC token as soon as it becomes live by swapping it for the in-game GLS token.

Expansion of the Terra Classic Network

On the Terra Classic chain, a number of efforts similar to MetaGloria are either scheduled to launch or have already been announced. Another NFT project, the LUNCPenguins NFT collections, is shortly to launch on MIATA, according to a LUNC validator.

The validator, who uses the Twitter handle @HappyCattyCrypto, asserts that the minting cost of the 1,000 unique LUNCPenguins is 200,000 LUNC, or roughly $34 at the current exchange rate. The LUNC community is very excited about the new MetaGloria NFT project because it represents yet another crucial turning point in the network's mission to ensure utility by creating alternative ways to burn LUNC.

Market Response

Although there has been a lot of buzz surrounding the most recent announcement, the price hasn't seen much movement. The price of LUNC was $0.00017293 at the time of writing, up 1% over the previous hour and down 2% over the previous 24 hours.

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