‘Cardalonia’, a medieval-themed metaverse project built on the Cardano blockchain, has announced the launch of its Lonia Token. The launch follows a successful pre-seed funding round that saw the Estonia-based Cardano metaverse startup raise $420,000.
Cardalonia Begins $LONIA Sales
On Wednesday, April 20th, Cardalonia announced that the sale of $LONIA tokens had gone live, with the price of each Lonia token set at 14 Lonia tokens per 1 ADA.
Sponsored
According to the project’s tokenomics, the LONIA token has a total supply of 100 Million, of which 50% is for the public, 20% for staking, 10% for the team, and 8.5% for liquidity among other allocations.
Cardalonia notes that the 50 million LONIA sale will be divided into three rounds for individual investors. Investors can purchase a minimum of 500 ADA (7,000 LONIA) and a maximum of 20,000 ADA (280,000 $LONIA).
Cardalonia: Another Metaverse Project Built on Cardano
Cardalonia is one of several metaverse projects being built on the Cardano blockchain. It will be a fully functional DAO where decisions will be made by $LONIA token holders who will vote and decide on the future of Cardalonia.
In Cardalonia, users will be able to earn, create, socialize, play, trade, and so much more through the hugely popular Play-to-Earn (P2E) model. According to the roadmap shared by the project, the Cardalonia metaverse is scheduled to launch in Q4 of 2022.
On the Flipside
- Despite multiple significant developments, Cardano (ADA) is considered to be stuck in an unimpressive price range, trading at under $1.
The seven day price chart for Cardano (ADA). Source: Tradingview
Why You Should Care
Although Cardano had long been criticized for being slow to incorporate smart contracts, projects are beginning to flood to Cardano, considered one of the most functional blockchains available.
