Pirate Nation Announces Token Launch! Free Mint Genesis Pirate NFT Floor Price Soars to 1.3 ETH, 50% Increase in a Week

Last September, blockchain game developer Proof of Play, which received $33 million in seed funding led by renowned venture capital firm a16z, launched the beta version of the on-chain RPG game Pirate Nation in April 2022 and has been testing it ever since. The game was initially launched on Polygon and later moved to Arbitrum Nova.

Pirate Nation is currently only open to users with an invitation code or those holding a Pirate Nation Genesis Pirate NFT. The game is set in a pirate kingdom where players take on the role of pirate captains, building ships, recruiting crew members, earning experience for their territory, crafting items, upgrading equipment, and battling challenging enemies to become top pirates.

Notably, according to the official introduction, the game is fully on-chain with no servers running, meaning the founding team cannot shut down the game. As long as the deployed blockchain continues to run, the game will exist indefinitely.

Pirate Nation to Launch Token

After running for over two years, the Pirate Nation Foundation announced on the 5th that it will launch the ERC-20 token PIRATE on Ethereum on the 13th. This token aims to promote the growth of Pirate Nation and empower the community. Only Pirate Nation players and collectors will be eligible to claim PIRATE tokens, and U.S. citizens will be unable to claim them.

According to its tokenomics, PIRATE has a total supply of 1 billion tokens, distributed as follows: 47% to the community, 28% to the team, 13.25% to the ecosystem, and 11.75% to investors and advisors.

The Pirate Nation Foundation stated that as a functional token, PIRATE will play an indispensable role in the Pirate Nation ecosystem. This includes purchasing in-game gems (used to speed up timers, compensate for missing resources, etc.), exclusive decorations, and participating in other interesting and functional activities. Additionally, it can be staked to earn Play Points and enjoy early rewards.

Genesis Pirate NFT Floor Price Soars

Boosted by the impending launch of PIRATE, the floor price of Pirate Nation Genesis Pirate NFTs is currently reported at 1.30 ETH, a 21.3% increase in the past 24 hours and a 52.7% increase over the past week, according to Coingecko data.

According to the official introduction, a total of 9999 Pirate Nation Genesis Pirate NFTs were issued, with the research team retaining 999. The remaining 9000 were open for free minting in November 2022. Holders of these NFTs have the right to play the Pirate Nation game, provide feedback, and enjoy other surprises.