RaW Pass, a new non-fungible token (NFT) collection linked to the upcoming Web3 game Wallet Wars, sold out within 5 minutes after its first mint on Wednesday, blockchain infrastructure developer Balthazar DAO announced. 

See related article: Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict

Fast Facts

  • RaW Pass is a collection of 5,555 NFTs which debuted with a 0.025 Ether (around US$40) mint price. Of this total, 555 have been reserved for the game’s treasury.
  • The assets are tied to Wallet Wars, a Space Invaders-inspired NFT game created by Animoca Brands-backed Balthazar DAO, and give users access to rewards and governance rights. 
  • Blockchain technology can unlock a new game economic layer, including transferring and owning in-game items. However, developers in the blockchain gaming sector still face the challenge of discovering a model that retains player engagement.  
  • Wallet Wars’ first season is scheduled to start at the end of October. Balthazar DAO said it is targeting a US$500,000 prize pool for players to vie for. 

See related article: Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations

(Updates to correct U.S. dollar value of the NFTs and edits Balthazar’s prize target.)