Japan’s mobile game Elemental Knights Online is planning to release Gensokishi Online -META WORLD-, which is its newest version incorporating elements of play-to-earn, user-generated NFTs (non-fungible tokens), and the metaverse.
Fast facts
- Gensokishi Online’s “Meta World” metaverse will allow players to purchase land and freely edit in their creations, such as buildings and characters. The land, as well as in-game equipment, can be minted as NFTs and sold on exchanges.
- The game metaverse proposes two tokens — MV and ROND. The MV token will be arranged as a utility token on Polygon to be used outside of the game for users to acquire various privileges such as the voting rights for game policy, or the right to create in-game equipment. On the other hand, ROND is a currency for use in the in-game economy. However, a user’s earned ROND can be traded on decentralized exchanges as a virtual currency. Gensokishi Project targets to list the MV token on Uniswap, Quickswap and Pancakeswap by this month.
- Elemental Knights Online is an MMORPG (massively multiplayer online role-playing game) that was originally launched on the mobile platform in 2008, with over 8 million downloads. Now Gensokishi Online -META WORLD- is expected to be officially released in August 2022.
- Play-to-earn is one of the biggest trends in the gaming industry right now, with the likes of Axie Infinity, MIR4 and Splinterlands gaining massive popularity globally. However, play-to-earn NFT games are banned in Japan’s neighboring South Korea, due to concerns over speculative behavior.