Since Meta’s reveal, the metaverse has been one of the most talked-about concepts in the crypto industry. Cardano has joined the growing number of projects looking to carve out their share of the multi-trillion dollar metaverse industry.
Months after its smart contracts activation, Cardano has made its debut in the metaverse. Cardano’s step into the virtual world comes via the launch of Pavia on its blockchain.
Thousands Now Own Virtual Land in the Pavia Metaverse
Pavia is a decentralized non-fungible token (NFT), play-to-earn gaming project. By utilizing the P2E model, players can explore the digital world of Pavia while earning, spending, and using in-game currency, called PAVIA tokens.
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Pavia calls itself the “first Cardano metaverse.” Pavia includes 100,000 virtual land parcels as part of its metaverse, of which, 29,000 were sold in October, and 31,000 in November of 2021.
The asking price for plots of land in Pavia starts at around $1,000, and goes as high as about $1.26 million. According to Pavia, the 40,000 plots left are projected to be sold within the first quarter of 2022.
Pavia also announced that it would add liquidity to Cardano decentralized exchanges [DEXs] and explore cross-chain liquidity over the same period.
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The launch of Pavia has been accompanied with much fanfare of hype and expectation, with many calling Pavia the next Decentraland, but with the benefit of using the eco-friendly Cardano blockchain instead of Ethereum.
On the Flipside
- Cardano is making a relatively “late” entry into the metaverse and will be hard pressed to compete with such established projects as The Sandbox and Decentraland.
Why You Should Care
With Pavia now active on the Cardano blockchain, it opens the door for many big projects looking to launch on the Cardano blockchain.
