After publishing 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.
Due to the $ISLAND token having a capped supply, it seems that this system won’t last forever, as the official documentation page notes that the team will “gradually taper off” token rewards and start replacing them with “more inherently fun gameplay and compelling prize systems.” More details on what this means will be given in the future, but essentially, the team’s goal is to continue rewarding players with prizes through third-party quests, as they want Nifty Island to be the “hub for other projects to distribute rewards,” believing that for a long-term play to earn experience, “externally sourced rewards are the only sustainable solution.”
What Are Legendary Palms?
Legendary Palms represent 1 of 3 types of various Legendary Items used to provide holders with exclusive perks and benefits for an even better blockchain gaming experience. Other Legends NFTs include Ultra Blades and Legendary Pistols, and all 3 types are interoperable, game-ready assets that are designed to be usable both in and outside this metaverse.
What’s the Future Utility of Legendary Palms?
Some info on the platform’s most exclusive NFTs, Legendary Palms, have just been revealed on October 4th alongside the P2E system, as some of the utility of these NFTs provide you with benefits in your play to earn journey.
Specifically, it’s been revealed that holding Palms will increase your Palm Points, which influence your maximum $ISLAND earning cap per reward cycle. The more Palms you hold, the more Palm Points you have, in turn making it possible for you to earn more $ISLAND tokens in one reward period. As there are 6 tiers of Legendary Palms, you’ll want to own the higher-tier ones as they award you with more Palm Points.
Next to giving an earning boost, the other two core purposes of Palm NFTs include providing curation authority while acting as a symbol of social status in the Nifty Island ecosystem. This means that there are plans to add in-game cosmetic and status benefits, with the first two cosmetics arriving around TGE. These 2 include a Legendary Island Badge and PFP Border upgrade. The first will let you publicly show your Legend status by having an exclusive icon displayed on your island in the in-game map, as well as on your profile page on the website, with the icon showing the highest tier of Legendary Palm that you own. The second involves having an exclusive border around your in-game and web app profile picture, with this too reflecting the higher tier of your NFT.
Last but not least, Palm holders will initially have the option to vote for their favorite islands that they would like to see have a featured status on the upcoming reworked in-game map, with voting power set to be later expanded to quests and marketplace content.
Aside from these 3 core purposes, holders can look forward to seeing more lore and content added to Palm metadata alongside a variety of future utility, including access to exclusive in-game events, priority access to future mints, access to VIP channels such as private forums, and more. Learn more in the official page of the litepaper here.
Legendary Palms can be earned by competing in certain quests, such as the Solana Challenge, or you can get them on OpenSea through the Ethereum network. The collection sits at a floor price of 0.628 $ETH at the time of writing.
