Please check out latest news, expert comments and industry insights from Coinspeaker's contributors.
Users who minted #Players in early stages will receive more governance tokens during the games and will have more time to practice.
A new play-to-earn NFT collection, inspired by the popular Netflix show ‘Squid Game,’ where characters gamble with their lives, went viral last week. More than 7,000 people attempted to join the project’s whitelist during stage 0, with only 500 people ultimately admitted. In less than 30 minutes, community members had minted all available 456 NFTs.
The collection, called Squid Game #Player NFTs, is built on the Binance Smart Chain network and consists of 10,000 NFTs that can be used in six different GameFi Metaverse games. Squid Game #Players can only be minted on the official website.
The GameFi boom is picking up steam in 2022: according to DappRadar, in the first week of January alone, the top ten play-to-earn or gamified DeFi handled over $841 million in transaction volume and attracted more than two million unique active cryptocurrency wallets. Parody cryptocurrencies and NFTs, such as the Shiba Inu coin, are gaining momentum. The Squid Game #Player project is embracing both of these trends.
The collection consists of eight types of hand-drawn NFTs, including 9410 #Players, 300 Guards, 140 VIPs, 75 Policemen, 53 Player 001 avatars, 15 Leaders, six Salesman, and one Doll. The gas fee for minting one NFT is less than $1 on the popular Binance Smart Chain.
Minted Players can be used in any of the six GameFi Metaverse games, which will all be released after stage 5 of the project. Game participants can join once they have at least one player. The first game will be released after stage 4. Some games will be modeled on the Netflix show titular “Squid Games” – less life-threatening, of course, but no less competitive, exciting, or rewarding.
The first set of competitive games offers a winning prize of up to $150,000. Additionally, generous bonuses and airdrops of the platform’s governance token will be awarded to #Players competing in the Metaverse games.
Although fewer than 500 participants were permitted to mint during stage 0, Squid Games fans still have a chance to get in on the action. Other stages include:
- Stage 1: 0.30 BNB – 1144 #Players can be minted with a 50% discount Stage 2: 0.42 BNB – Last chance to mint 1400 #Players at a 30% discount after completing a series of tasks
- Stage 3: 0.60 BNB – 7000 #Players are available
- Stage 4: Launch of the first game, where participants can use their minted #Player and receive the game’s governance token. The governance system is launched
- Stage 5: All six Metaverse games to be launched at this stage. Each game will give out up to $25,000 in rewards for the winner. The total reward amount is $150,000
Users will be able to list their #Players on TofuNFT, NFTrade, AirNFTs and more once they are minted. The governance token, allowing community members to participate in the system’s decision-making, will also be available for purchase on popular decentralized (DeFi) exchanges.
Users who minted #Players in early stages will receive more governance tokens during the games and will have more time to practice. The project is planning to introduce its advisors and designer, as well as announce more news and giveaways. Follow the Squid Game NFTs Discord channel and other social media for more updates.