MoneyTree to Launch NFT Store on Lootex
On 28 October 2021, the decentralized gaming token MoneyTree made an announcement regarding the launch of its NFT store in Lootex. According to online news sources, the partnership between Lootex and MoneyTree will allow the company to trade around 1 million MoneyTree non-fungible tokens (NFTs) on Lootex. It has been found that around 400 MoneyTree NFTs have already been won or purchased in loot boxes at Lootex.
Through the royalties and dividends collected from the sale of the aforementioned 1 million NFTs, the MONEY token will award its investors. Besides this, the company also conducts a weekly lottery for the investors, which pays them in Binance USD. The MoneyTree users holding the MONEY token can enter the lottery, which will give them an opportunity to win NFTs. As per online reports, the first lottery was held on 22 October, in which a user won over $43,000.
It is evident from this that the world of NFTs is booming as the NFT ecosystem grows into a multi-million-dollar space. In the gaming arena, the NFTs are especially popular, with many play-to-earn projects coming out frequently. MoneyTree is also planning to launch play-to-earn mini-games along with its collection of 1 million NFTs. Presently, the market cap of MoneyTree stands at around $1.2 million, with over 1,300 holders. With the three mini-games, users would get a chance to win more loot boxes and tokens. These games are – Numberdome, Gridlock, and Versus Mode. These games incorporate the Verifiable Random Function of Chainlink, which ensures that the game is statistically fair for all players.