Place/Date: - November 26th, 2021 at 7:47 pm UTC · 5 min read
Contact: MoneyTreeCoin, Source: MoneyTreeCoin
The Non-Fungible Token aka NFTs have become one of the most popular use cases to come out of the crypto world this year. Almost every mainstream brand and celebrity have got involved with NFTs this bull season, however, the NFT ecosystem has evolved a long way from its early days of tokenizing art and celebrity memorabilias. NFT projects are now combining the best of two worlds i.e the video games and cryptocurrencies. Users get to play the game while winning valuable tokens in return that can be exchanged or traded on mainstream platforms. However, most of the projects being launched today are either outright bad or just trying to milk on the trend, as most of these P2E games lack variety and engrossing gameplay, while many others turn out to be outright scams due to the heavy centralization in the project. However, a new P2E NFT gaming project MoneyTree has taken a different approach.
Many projects have a high degree of centralization, which creates a single point of failure while also lowering investor confidence in the security and immutability of assets and NFTs. In the case of NFTs, they are frequently stored on a centralized server or cloud service, which goes against the blockchain principle and allows developers to move and edit the assets as they see fit. Many projects are attempting to enter the Metaverse and P2E race with empty promises, limited functionality at launch, and unfulfilled roadmaps.
Money Tree has taken a fully decentralized approach where all the processes happen entirely on-chain with no external inputs or APIs. Being built on top of the Binance Smart Chain helps in scaling the ecosystem while it also reduces the overall complexity of the games that can be developed. The Money Tree platform includes a number of luck-based GameFi mini-games, as well as 1 million NFTs and DeFi systems, all of which are built into the smart contract and available right away. Money Tree uses Chainlink VRF to achieve true randomness on the blockchain. This allows users to operate on the platform without fear of tampering because all results are tamper-proof and recorded on the blockchain.
The 1 million deflationary NFTs generated at random are all unique and use over 2500 different assets. The NFTs are available in a variety of rarities, ranging from Common to Legendary. Although there are a lot of Common NFTs, there are only about 30k Legendary NFTs. The better the Attack, Health, and Magic stats are, the rarer the NFT; these will be used in a future game releasing in Q1. Rarer NFTs have rarer assets and colours, giving them a more distinct and special feel. The NFTs have a deflationary effect! Using the NFT upgraded dApp, two NFTs of the same rarity can be burned and upgraded to a rarer version. An NFT lottery is automatically run every week. The names of all NFT owners are entered, and a random NFT is chosen as the winner.
1 million NFTs, hosted on IPFS and pinned with Pinata. There are 5 rarities, 2 NFTs can be burned and combined into one random NFT of a higher rarity. NFTs can be purchased through the built in marketplace or through purchasing a random loot box, 90% of the $MONEY from NFT purchases are sent to a dividends wallet and the remaining 10% is burned. Every transaction incurs a 5% tax: 2% goes into LP, 2% goes into the lottery as BNB, 1% goes to marketing as BNB.
Money Tree entered the Metaverse and P2E blockchain revolutions one month ago, with a large collection of GameFi & DeFI functionality available to investors and players alike from the start. Visit the Money Tree website or join the Telegram community to learn more.
MoneyTree is a robust P2E NFT gaming ecosystem with in-game tokens for players. While most of the other projects out there are still trying to figure out the best of two worlds, MoneyTree is not just offering one game for everyone to play, rather a series of games that would keep all types of traders engaged while winning the rare NFTs and in-game tokens.
A weekly BUSD lottery is available to holders of the $MONEY token. The jackpot grows over the course of the week and is equal to 2% of the total volume. The lottery pays out in BUSD, so the price of the token is unaffected. Every week, all holders are automatically entered for free. The higher the number of $MONEY tokens in a wallet, the better the chances of winning. The entire system is decentralized, and the four weekly lotteries have collectively paid out more than $100,000.
The $MONEY token serves as the platform’s underlying currency, and it can be used to play all of the available mini-games. These mini-games are all based on luck and are statistically fair, which means there is no house edge and players keep 100% of their winnings. Many of the games can be compared to a decentralized casino; for example, the game Gridlock is similar to Roulette but without the zero. This means that players can play hundreds of games and their tokens will stay the same on average. Because all of the processes are built on the blockchain, users can interact with the Money Tree platform via dApps on the website or directly on BSCScan if they prefer.
Money Tree and Coinmarketcap.com recently ran a series of promotions in which users could redeem Coinmarketcap Diamonds for a chance to win Money Tree NFTs and $MONEY tokens. Both events drew a huge crowd, with all Money Tree mystery boxes selling out in a matter of seconds. Money Tree allows users to buy their own loot boxes using either BNB or $MONEY tokens directly from the website. These loot boxes ensure an NFT of Uncommon to Legendary rarity. The Money Tree team have also recently locked the developer wallet until 2024.