- The MIATA NFT marketplace is expected to add to the stiff competition for dominance in the digital collectible space.
- Even though competition for Polygon is welcome, the unstable nature of the Terra network leaves much to be desired.
The NFT marketplace continued to be a huge part of the success of the crypto asset sector, with several platforms vying for the top spot. However, the NFT space will soon welcome a new marketplace on the Terra Classic network, which is set to present a tough challenge for Polygon.
MIATA braces up for launch
In a recent Twitter post on November 13, the famous Terra Classic community validator, LUNC DAO, revealed that the new NFT marketplace, MIATA, will be launched on the Terra Classic platform on November 14. Accordingly, the community has organized a question-and-answer session to discuss issues surrounding the launch.
In addition, LUNC DAO will lead the discussion along with a leading community influencer with the Twitter alias @Classy. Furthermore, the launch of MIATA will be followed by the minting of 2,000 MetaGloria digital collectibles that users can purchase and sell on the platform.
— Classy 👾 (@ClassyCrypto_) November 14, 2022
The MetaGloria is a play-to-earn game scheduled to launch on the Terra Classic Network early next year. A team of Ukraine developers heads the project alongside some crypto gaming enthusiasts. According to the website, the project aims to onboard as many gamers as possible into the crypto industry and reduce the supply of the Terra Luna Classic tokens.
Moreover, the MetaGloria initiative will mint two collections of about 3000 NFT. The collections will come with more than 100 unique traits to match the different users of digital art. According to the project design, users can burn the LUNC token as soon as the project goes live by swapping it for the GLS token, an in-game asset.
Expanding the Terra Classic network
The MetaGloria collectible is one of many NFT projects to debut on the Terra Classic platform and the MIATA marketplace. Several similar initiatives are about to be launched or are already scheduled for an unveiling. Another LUNC validator has disclosed that another project, the LUNCPenguins NFT collections, is gearing up for launch on MIATA soon.
According to the validator, who goes by the Twitter account @HappyCattyCrypto, the minting price for the 1,000 unique LUNCPenguins is 200,000 LUNC, worth roughly $34 at present value. As expected, the LUNC community is excited about the latest NFT project because it represents another significant milestone in the network’s drive to ensure utility by creating alternative ways to burn LUNC.
Meanwhile, the latest launch of the MIATA NFT marketplace on the Terra Classic ecosystem hasn’t yet had any positive effect on LUNC’s price action. LUNC is down 2.58 percent in the last 24 hours and trades at $0.0001742, according to Coinmarketcap data. However, it may be too early for the price to spike. Time will tell whether this news will cause a price surge for LUNC.