Category: Solana

Categories
Crypto News Market Analysis Solana Trading

Top 3 Coins to Watch Today: SOL, LUNA, MASK – December 2 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Solana (SOL)

Solana SOL is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions. The Solana protocol is designed to facilitate decentralised app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

SOL Price Analysis

At the time of writing, SOL is ranked the 5th cryptocurrency globally and the current price is US$227.24. Let’s take a look at the chart below for price analysis:

Source: TradingView

SOL retraced nearly 45% from its high before finding a low during mid-November. Since then, the price has been sweeping stops on both sides of its local range as the current consolidation sets up the next move.

Aggressive bulls might bid near $218.44, although a sweep of the stops near $205.61 could reach below the next swing low into possible support near $188.12. A continued downtrend might run into the weekly gap near $176.26.

Some bears might add more shorts near $220.87, although a push to $238.66 is reasonable. A daily candle close over the swing high near $250.04 could suggest that a longer-term trend reversal is in play, with bulls possibly entering on a retracement near $276.32 for new high prices.

2. Terra (LUNA)

Terra LUNA is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin, and offers fast and affordable settlements. Terra’s native token, LUNA, is used to stabilise the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.

LUNA Price Analysis

At the time of writing, LUNA is ranked the 13th cryptocurrency globally and the current price is US$62.57. Let’s take a look at the chart below for price analysis:

Source: TradingView

After breaking its November highs,  LUNA began a range that has been whiplashing both bulls and bears.

Resistance beginning near $68.35 held the price down for the December monthly opening, although bulls have shown some strength near the 9 and 18 EMAs. 

A quick drop to $60.37, or into the zone beginning near $57.87, could give bulls the fuel to push through the nearby resistance. If this resistance breaks, the high near $66.47 provides a reasonable target. 

A break of this level could move further into uncharted territory with the nearest probable resistances projected around $72.28 and $75.57.

More patient bulls might be waiting far below the 40 EMA with bids near the higher-timeframe range’s 61.8% retracement, near $49.59.

3. Mask Network (MASK)

Mask Network MASK is a protocol that allows its users to send encrypted messages over Twitter and Facebook. It essentially acts as a bridge between the internet and a decentralised network running on top. Mask Network offers the ability to fund Gitcoin grant campaigns directly from Twitter, and plans to offer peer-to-peer payments and decentralised storage functionality. It is a decentralised portal that also allows users to use DApps like crypto payments, decentralised finance, decentralised storage, e-commerce, digital goods, NFTs, and decentralised organisations (DAOs) over the top of existing social networks without migrating, creating what is referred to as a decentralised Applet (DApplet) ecosystem.

MASK Price Analysis

At the time of writing, MASK is ranked the 250th cryptocurrency globally and the current price is US$15.97. Let’s take a look at the chart below for price analysis:

Source: TradingView

MASK has retraced 58% of its over 120% rally that began in November.

A large bearish daily candle found support at the 40 EMA in a daily gap, near $13.20, before retracing to its opening price, near $14.36. 

The 9 and 18 EMAs near the opening price might provide support if the uptrend resumes. The recent swing low, near $12.87, could also offer support again. 

Some charts showed the price rallying into possible resistance near $19.26 on November 27. If genuine and sustained, this resistance could flip to support for a further rally into resistance near $20.18 and $21.56.

If the price reaches beyond these levels, it will enter discovery, perhaps drawing toward possible resistance near $25.44.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Duration: 6-week course
From: November 15 to December 22
Date/Time: Twice a week, Mon and Wed at 7pm AEST
Location: Zoom webinar

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. You can also buy these coins from different exchanges listed on Coinmarketcap.

Categories
Blockchain Crypto News DeFi Gaming NFTs Solana

MonkeyBall Play-to-Earn NFT Game Set to Launch on Solana Blockchain

MonkeyBall, the next-gen esports metaverse that enables players to create, play, compete and earn, is ready for kickoff. Based on the Solana blockchain, the play-to-earn soccer game combines high-production values, multiplayer gaming, NFTs, and decentralised finance.

Monkeys are the teams’ players, introduced by NFT assets owned by game players. The Monkeys serve as an income generator, allowing a player to earn MonkeyBucks ($MBS) by winning matches.

MonkeyBall.com

The Three Modes of MonkeyBall

  • Player vs Environment: This is a training mode to increase your Monkey’s overall abilities and allow you to practise and develop your in-game Monkey’s soccer skills.
  • Player vs Player: This mode is the classic game where each player controls the entire team of soccer monkeys.
  • Team vs Team: In this mode, each team is being played and controlled by multiple players at a time.

MonkeyBall will do an NFT drop (of the game’s Monkeys) in December, with the in-game launch set for release in the first quarter of 2022. The IDO is currently open. Check the MonkeyBall website for more information.

MonkeyBucks ($MBS) is the in-game currency powering the game economy. Players can earn MBS by interacting in the game: completing missions, winning matches, watching games as spectators, or hosting games in their stadiums. You can also spend MBS to breed new Monkeys and buy consumable game items (NFTs) in the game’s store.

There is major hype surrounding the pre-release of this game, as you can see by the sharp increase in the price of the StarLaunch token, $STARS. Starlaunch is the launchpad for MonkeyBall.

STARS Price Chart. Source: Coingecko

Watch the video below to learn how to get into the MonkeyBall IDO, launching on StarLaunch next week.

As the NFT space continues to grow, and excessively high fees continue to plague the Ethereum network, we are increasingly seeing Solana challenge Ethereum for NFT project launches.

Categories
Blockchain Crypto News Ethereum NFTs Play to Earn Solana

First Projects Set to Launch on ‘StarLaunch’, Solana’s IDO Launchpad

The creators of CardStarter have delivered “StarLaunch”, an initial DEX offering (IDO) launchpad for the Solana (SOL) blockchain, and new Solana based projects are ready to launch.

StarLaunch is an incubator for blockchain projects built atop Solana, which aims to connect them with their community of backers. As the first insured IDO launchpad and incubator for Solana blockchain projects, its stated goal is to connect its “community of backers with trusted and thoroughly vetted Solana blockchain projects”.

What is an IDO?

An initial DEX offering platform, or IDO platform, is one where crypto projects are listed and work as an investor pool. Investors can then invest in projects listed on the launchpad with the IDO model, whereby the crypto coin or token is launched via a decentralised liquidity exchange to fund the projects.

Think of an IDO as a sort of decentralised and permissionless crowdfunding platform, which now opens up a whole new way of fundraising in the cryptosphere.

About StarLaunch

starlaunch.com website

The StarLaunch model could be compared with that of Polkastarter which has been successful at crowdfunding Polkadot-based projects in a similar way over the past year or so. Check out the StarLaunch Slide Deck to learn more about the project.

StarLaunch promotes these three key aspects:

  • Selective listing – employing stringent and formulaic project vetting.
  • Insurance fund – offering insurance to protect its community. Your IDO investments are insured for the first three months after staking.
  • Propulsion program – offering advisory support for its approved projects.

For comparison, and to see what sets StarLaunch apart, this table will prove insightful:

Comparison between StarLaunch and CardStarter. Source: StarLaunch

The $STARS token itself has seen quite an increase, rising from under US$3 to more than US$15 within the past week or so.

STARS/USD – source coinmarketcap.com

How to Participate

Disclaimer: Before you get started with these new projects and tokens, please understand that you may lose all your capital. DeFi projects get rugged all the time and some investors lose everything.

In order to get started with StarLaunch, stake your $STARS tokens to generate $N2H4, which is the token used to participate in the initial IDOs that launch on the platform.

So a typical process for option 1 might look like this:

  1. Do your own research
  2. Make your plan
  3. Complete KYC on starlaunch.com
  4. Buy SOL (from your exchange or such)
  5. Send SOL to your Solana Phantom wallet (or such)
  6. Use Raydium.io to swap SOL into STARS (or such)
  7. Go to app.starlaunch.com and stake your STARS
  8. When the IDO launches, you can stake your $N2H4 into the project

There is a more detailed explanation of everything on the Starlaunch blog post.

IDOs Set to Launch Soon

It has been announced that MonkeyBall, a SOL-powered play-to-earn game, has been selected as the launch partner of StarLaunch, courtesy of the game’s large community, investor backing and strong fundamentals, all of which cement it as a top play-to-earn game in the future.

We’ll keep you updated on any other IDOs set to launch on the platform as soon as we find out about them.

Categories
Gaming Metaverse NFTs Solana Tokens

NFT and Gaming Token WAX Soars 215% in a Month Amid Unprecedented User Growth

Performance of the WAX token has certainly waxed lately following massive NFT (non-fungible token) trading volumes on its Worldwide Asset eXchange (WAX) platform.

WAX Outranks Solana in NFT Sales

This week, WAX surged 44 percent following massive demand for the currency, with over 8 million WAX accounts interacting with the token on the WAX network. The token is up a massive 215 percent in the past month.

Ethereum remains the number one platform in terms of NFT trading volume. But as NFT content creators look for alternative choices, the WAX platform has witnessed massive NFT sales lately. The protocol has become the second Layer-1 blockchain in daily and 30-day NFT sales volume, outpacing high-profile ecosystems in the industry such as Solana and Flow.

There is no big news about partnerships or network upgrades, so the recent price surge is driven only by demand, but we have to note that WAX CEO William E. Quigley has recently talked up NFTs, the metaverse, and the launch of vIRLs, a new form of NFTs issued by the WAX protocol that represent real-world items users can collect without physically shipping them.

What is WAX?

The WAX platform is considered the most eco-friendly platform for NFTs, collectibles and video games. There, users can play several decentralised games, build their DApps, and buy and sell NFTs using WAX in a fast, cost-efficient manner.

With its high proven real-world operation transaction volume capacity, unique fee structure of no minting and gifting transaction fees, and energy efficient and low carbon footprint, [WAX] is the ideal blockchain for games that are looking to incorporate elements such as play-and-earn monetisation at scale.

William E. Quigley, WAX CEO

WAX currently has a US$1.5 billion market cap, with each token priced at US$0.85. The price surge comes after a massive wave of traffic, making it the number 1 platform with daily active users.

Categories
Binance Coin Bitcoin Cardano Crypto News Dogecoin Ethereum Markets Solana

Crypto Market in the Red Amid $880 Million Liquidity Flush

The crypto market is experiencing a sharp correction after approximately US$840 million was liquidated this week, draining nearly US$400 billion from the market.

Data from Coinglass (previously known as Bybt.com) shows at least 78,358 traders were liquidated in a span of just 24 hours. The largest single liquidation occurred on Bybit – ETH/USD, US$3.1 million.

ETH holders were by far the most affected compared to other cryptocurrencies such as BTC, which in 24 hours had a total of 1.13k BTC ($68.14 million) liquidated across most exchanges.

Most Currencies in the Red – Bitcoin Retests 58K Support

Liquidations were triggered when BTC plunged over 10 percent this week, dragging most of the market with it. Altcoins such as Binance Coin (BNB), Cardano (ADA), Solana (SOL), and Dogecoin (Doge) were in the red by double digits as well.

Many say the drop is due to the $1.2 trillion infrastructure bill that US President Joe Biden signed into law on November 15. The bill is embedded with various crypto tax provisions for entities considered “brokers” by US law, even if they aren’t, such as node validators. The unclear and biased language caused outrage in the crypto community, with many industry leaders calling for opposition of the bill.

Going back to Bitcoin, the daily RSI pulled back to 40k levels but the price is currently hovering above 60k, though a further drop is expected in coming weeks.

Compared to previous dips, this one represented only 12 percent off its all-time high (ATH), but the emotional reaction appears to be much more intense. Back in September, BTC retraced -25 percent before jumping to new ATHs.

Categories
Crypto News Market Analysis Solana Trading

Top 3 Coins to Watch Today: SOL, ENJ, MTL – November 18 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

2. Solana (SOL)

Solana SOL is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions. The Solana protocol is designed to facilitate decentralised app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

SOL Price Analysis

At the time of writing, SOL is ranked the 5th cryptocurrency globally and the current price is US$211.32. Let’s take a look at the chart below for price analysis:

Source: TradingView

SOL retraced nearly 75% from its high before finding a low during mid-October. Since then, the price has been sweeping stops on both sides of its local range as the current consolidation sets up the next move.

Aggressive bulls might bid near $205, although a sweep of the stops near $195 could reach below the next swing low into possible support near $188. A continued downtrend might run into the weekly gap near $173.

Some bears might add more shorts near $200, although a push to $224 is reasonable. A daily candle close over the swing high near $245 could suggest that a longer-term trend reversal is in play, with bulls possibly entering on a retracement near $276.

2. Enjin Coin (ENJ)

Enjin Coin ENJ is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin’s flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores. Enjin Coin is a digital store of value used to back the value of blockchain assets such as non-fungible tokens (NFTs).

ENJ Price Analysis

At the time of writing, ENJ is ranked the 65th cryptocurrency globally and the current price is US$2.87. Let’s take a look at the chart below for price analysis:

Source: TradingView

ENJ spent November ranging across the monthly open, reaching 25% over and 30% below. The price is currently consolidating between adjacent resistance and support at $3.10 with no clear higher-timeframe trend. A strong move over the monthly open could signal a run to resistance beginning near $3.28. 

This move would likely target the swing high at $3.36 and relatively equal highs near $3.42. A sustained bullish trend could reach up to the monthly high near $3.50.

Bulls might see a sweep of the relatively equal lows near $2.70 as a chance to buy at a discount. If this level fails to hold, the next significant area for the price to find buyers is likely near the consolidation around $2.63 and $2.58.

3. Metal (MTL)

Metal MTL is the native currency of Metal products and an essential part of the Metal ecosystem. Sending and receiving any crypto to friends on Metal Pay is, according to the team, instant and feeless. Designed to make cryptocurrency payments fast and easy, users pay zero fees when sending, receiving, buying or selling MTL. On the Metal X exchange, users can reduce fees by paying the fee in MTL. Additionally, users can receive loyalty benefits for holding MTL inside the exchange.

MTL Price Analysis

At the time of writing, MTL is ranked the 317th cryptocurrency globally and the current price is US$3.20. Let’s take a look at the chart below for price analysis:

Source: TradingView

MTL‘s strong downtrend that began in September has retraced most of its Q3 move, recently sweeping lows near $2.81 but struggling to find strong support.

A sweep of the relatively equal lows near $3.11 into possible support around $2.98, combined with bullish market conditions, could be the catalyst that begins to form a bottom. If this level fails, bulls might buy the monthly gap’s low near $2.81.

The swing low near $3.15 may form resistance to any sudden pumps as holders unload some of their position. A more substantial move might sweep relatively swing highs into probable resistance near $3.37, potentially reaching up to monthly open near $3.50.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Duration: 6-week course
From: November 15 to December 22
Date/Time: Twice a week, Mon and Wed at 7pm AEST
Location: Zoom webinar

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

Categories
Crypto News Crypto Wallets Solana Tokens

BAT Token Surges 30%+ After Solana Partnership Announced for DApp Support

Breakpoint 2021 was the first conference organised by the Solana Foundation, held in Lisbon, Portugal, from November 7-10. Featuring an all-star guest speaker lineup of coders, co-founders and CEOs in the business, the event brought together industry leaders, builders and innovators from around the globe.

Brendan Eich, CEO and co-founder of Brave, announced on stage with Solana CEO and founder Anatoly Yakovenko that Brave will be partnering with Solana to integrate it into the browser and make it the default for DApp support.

Solana Default For Brave Browsers

Together, the companies will bring best-in-class crypto wallet features for the Solana blockchain into Brave’s Web3 desktop and mobile browsers, to be rolled out in the first half of 2022. 

We’re gonna make it so any dApp that is Solana enabled … we will make it use Solana by default. So dApp builders who built for Solana as well as other chains, in Brave it’s going to use Solana and that’s going to just help, I think, bring dApps over to Solana.

Brendan Eich, CEO, Brave

After the presentation and news of Brave announcing its Solana partnership, the price of Brave’s Basic Attention Token (BAT) pumped up from US$1.00 to reach US$1.36 on November 9.

Source: CoinGecko

The news was tweeted by both companies announcing the new coming features:

Watch the full presentation at Breakpoint 2021 on YouTube below.

In September, Crypto News Australia reported Brave’s in-browser crypto swaps with 20 percent BAT rebates. Click to read and learn more about the best browser for crypto enthusiasts. Also, Brave has built its own in-app Decentralised Exchange Aggregator (DEX), which enables users to swap tokens using the Brave browser.

Categories
Crypto News DeFi Solana Tokens

Solana Skyrockets to 4th-Largest Crypto Amid SOL-Based Web 3.0 Investment

Solana (SOL) has been thriving in the crypto market recently, reaching a new all-time high of US$248.45 on November 3, at around 9pm Eastern time.

SOL Overtakes ADA

SOL has risen in price by 23.56 percent in the past seven days, trading at US$246 at the time of writing. The token has had a surprising performance this year, up more than 17,000 percent since the first quarter of 2021. 

SOL/USD chart. Source: Messari.io

The token now holds a US$72.20 billion market cap, and 24hr trading volumes have skyrocketed to US$2.8 billion.

After the price surge, SOL flipped Cardano (ADA) to become the fourth-largest crypto by market cap. Meanwhile, Cardano has been struggling even after the release of its smart contracts, trading at US$1.98 at press time, down 11.17 percent in a month.

Solana Gaining Ground Amid Positive Newsflows

The price surge follows several promising DeFi projects and the integration with Crypto.com, which will allow users to deposit and withdraw USDC via Solana.

Another strong boost for Solana came after the announcement of a US$8 million seed round completed by Syndica, which is building the “next-generation blockchain infrastructure for the Solana ecosystem”.

Besides, two of Solana’s biggest DeFi projects are both decentralised exchanges with yield-generating features, and they hold around US$2 billion in total locked value (TLV) each.

The open interest for SOL has been high as well. On October 26, SOL’s derivatives market reached a record-high US$1.86 billion – spiking 123 percent in a month.

Categories
Cardano Crypto News Market Analysis Qtum Solana Trading

Top 3 Coins to Watch Today: ADA, SOL, QTUM – November 4 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Cardano (ADA)

Cardano ADA is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals”, helping to create a society that is more secure, transparent, and fair.

Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.

ADA Price Analysis

At the time of writing, ADA is ranked the 5th cryptocurrency globally and the current price is A$2.78. Let’s take a look at the chart below for price analysis:

Source: TradingView

ADA‘s nearly 56% drop from its August highs found a low near A$2.38 in September before closing over a short-term high around A$2.94.

This daily close over the high could signal a shift in market structure that might reach probable resistance near A$3.14. A sustained bullish move may target the swing high at A$3.25. If this stop run occurs, a run beyond the high into probable resistance near A$3.29 and A$3.36 is possible.

Bulls could buy a retracement to possible support near A$2.73, just above the monthly open. A bearish turn in the marketplace may propel the price toward possible support near A$2.68. 

However, relatively equal lows near A$2.65 and A$2.60 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between A$2.57 and A$2.52.

1. Solana (SOL)

Solana SOL is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions. The Solana protocol is designed to facilitate decentralised app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

SOL Price Analysis

At the time of writing, SOL is ranked the 6th cryptocurrency globally and the current price is A$301.55. Let’s take a look at the chart below for price analysis:

Source: TradingView

SOL retraced nearly 65% from its high before finding a low in late September. Since then, the price has been sweeping stops on both sides of its local range as the current consolidation sets up the next move.

Aggressive bulls might bid near A$276, although a sweep of the stops near A$270 could reach below the next swing low into possible support near A$262. A continued downtrend might run into the weekly gap near A$245.

Some bears might add more shorts near A$290, although a push to A$315 is reasonable. A daily candle close over the swing high near A$339 could suggest that a longer-term trend reversal may be in play, with bulls possibly entering on a retracement near A$354.

3. Quantum (QTUM)

Quantum QTUM is a proof-of-stake (PoS) smart contract open-source blockchain platform and value transfer protocol. It aims to bring together the strengths of Bitcoin and Ethereum in one chain. QTUM is built on Bitcoin’s UTXO transaction model, with the added functionality of smart contract execution and DApps. Recently, the platform added support for DeFi applications.

QTUM Price Analysis

At the time of writing, QTUM is ranked the 80th cryptocurrency globally and the current price is A$21.33. Let’s take a look at the chart below for price analysis:

Source: TradingView

After dropping almost 85% from its highs, QTUM has been consolidating in a range for the second half of Q3.

The recent sweep of the lows near A$16.45 could set the stage for at least a short rally higher, with bulls possibly buying near A$19.22 for a move toward the relatively equal highs near $24.68. A close over these highs might hint at a longer-term move toward probable resistance near A$28.30, likely following a retracement.

Rejection from possible resistance near A$23.12, potentially including a sweep of the highs around A$22.96, could signal a run to the swing low near A$18.35. If this move occurs, bears might target the swing low and support near A$17.44 and A$16.89.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

Categories
Crypto News Gaming Play to Earn Scams Solana

NFT Metaverse Game Star Atlas Releases Roadmap, but No Sign of the Actual Game

Star Atlas is one of the most anticipated play-to-earn games in the crypto gaming space, with users already owning thousands of dollars’ worth of in-game assets. However, while the project boasts a beautiful website and fully functioning marketplace, there’s no game or even Alpha build to be seen.

Hosted on the Solana (SOL) blockchain, Star Atlas has attracted considerable hype based on the concepts and possibilities of what’s quite literally a game-changer. The game incorporates some of the latest graphical innovations, such as Unreal Engine 5 and Nanite technology that allows for the creation of worlds at unprecedented scale and detail. Players can own in-game assets (planets, ships, parts/items, in-game resources) with real-world value, either to be used in the game or sold on the marketplace.

The fact that there is no actual game build to be seen leads some to believe the game might end up the same way Earth 2 did. In that case, developers made claims of creating an exact virtual replica of Earth, comparable to a metaverse like “Ready player one or the Matrix”, allowing people to buy virtual land that might attract future value. Yet years later, the game is still in development and has been called a scam and Ponzi scheme by many.

Technology May Be Still Some Way Off

BigFry, a prominent YouTuber best-known for talking about “shady” developers and publishers in the gaming space, has taken a crack at Star Atlas, pointing out some of the aspects that could be an indication of a scam. As he says, it’s much easier to start a marketing campaign than to build a metaverse. Many times in the past developers have over-promised and under-delivered, with BigFry also stating that he thinks the technology required to build a game like this is still far away.

Star Atlas Is Not Your Average Game

Star Citizen had the same problem with lots of content but no game builds ever piercing the veil, with some some believing Star Atlas could be on the same road. There are more than 250 players already on the leaderboards, with the top-ranking player owning over US$800K in total in-game assets.

According to a YouTube interview with Star Atlas founder Michael Wagner, the project aims to break the mould in the industry by creating a metaverse where the aim is not just to play a game, but to construct an economy where gamers, entrepreneurs and people who want to work to earn money can come together and empower each other.

This is one of the main reasons why the game is being developed economy first, to allow players to understand the mechanics as well as to build all the systems from scratch on the blockchain. After slowly onboarding players to the marketplace and intricacies of the economy, actually playing the game comes next. At the moment there is a mini-game available where players can craft loot. Additionally, Wagner says that one of the first gameplay mechanics to be released will be the ship mission, available on May 31, 2022.

There are other works in progress such as character models and environments which can show for something, but that’s an easy task for a team of designers. Wagner says that in January 2022 there will be a digital showroom with interactable character models created with the new gaming engine, and where players can view their created NFTs.

In the meantime, the company has published a roadmap to assure investors and future players that everything is still on track:

It remains to be seen how the project will develop, but according to the roadmap the game’s 3D browser version is a “fully charted game map [Star Atlas] viewable and playable in-browser. This also unlocks coordinates for ship missions, exploration, and mining actual owned land claims”, scheduled for release on July 31, 2022.