What Is Alien Worlds NFT: A Simulated Galactic Economy
Launched in 2020 on the WAX blockchain, Alien Worlds is an NFT-oriented DeFi metaverse that simulates economic competition and competition between players. The primary currency in this metaverse is an ERC-20 token called Trillium (TLM). Trillium’s price is $0.31 per token with a circulating supply of 914 million, for a market cap of $284 million.
What Is Alien Worlds?
Alien Worlds describes itself as a decentralized metaverse running on the Ethereum (ETH), WAX (WAXP), and Binance Smart Chain (BSC) blockchains. Players are incentivized to acquire TLM, which can be used to purchase non-fungible tokens (NFTs).
How do you get NFTs in Alien Worlds?
The NFTs in Alien Worlds are virtual items that help players to mine TLM faster, increase strength to battle with other players, or give ownership over land. NFTs in Alien Worlds can be mined or purchased from the AtomicHub marketplace. TLM needs to be converted to WAXP because the AtomicHub marketplace uses WAXP for transactions.
Beyond purchasing NFTs with TLM, users can turn TLM into real money by converting it into WAXP. They can also use the game’s teleport feature to move TLM to compatible blockchains where it can be traded.
Users also need TLM in order to take control of competing decentralized autonomous organizations (DAOs), which are also known as decentralized autonomous communities (DACs). In Alien Worlds, these DAOs are planets where players can set up their mining base or stake TLM to participate in governance. There are six planets to choose from, and each has its own elected government. Players are given more voting weight depending on how much TLM they stake on a planet. Players are given one Planetary DAO token for every TLM token staked, which can be swapped back at any time.
The Federation is the main governing element of the Alien Worlds metaverse, and is controlled by the Alien Worlds founding team. It has the authority to create new planets, remove planets from the Federation, allocate Trillium to Planetary DAOs, and handle the game’s general maintenance and operation.
The Federation will also occasionally offer land for sale which gives owners the ability to set a tax on any TLM that is mined on their land. This gives landowners a residual income of TLM from players that mine on their land. Landowners also have to compete with their tax rate in order to make sure players are willing to pay that tax rate. Owning land in Alien Worlds works just like staking in a Planetary DAO. A smart contract is created and players need to exchange WAXP for the custom landowner tokens.
How To Participate In Alien Worlds?
Registering an account and getting started in Alien Worlds is quite simple. During the registration process, you will also need to register a WAX wallet. After registration, acquiring a token that can be converted to TLM is the first step. To play Alien Worlds, you’ll need to stake some of the WAXP in your WAX Wallet. This stake is what gives you the computing power on the WAX blockchain, and can be managed through the WAX Wallet’s Resources section. New players will likely need to stake at least 5 WAXP in CPU resources to avoid an error when first trying to access the game.
Once you have enough of a stake in CPU resources, you can begin using those resources to mine TLM. If you run out of resources, you can either stake more WAXP in your WAX Wallet Resources or wait for CPU allocation to regenerate. Waiting for CPU allocation to regenerate can take 24-72 hours depending on your CPU usage.
Once you are able to log into Alien Worlds without any issues, you will be asked to choose a Planetary DAO to settle on so you can start mining TLM. You will also be asked to choose a piece of land on that planet. Different pieces of land will have different mining multipliers and tax rates, so you can consider what looks best for you. You can always move to a different planet and piece of land so there is no need to worry too much about this in the beginning.
Where is the best place to mine in Alien Worlds?
Mining is a pretty simple process in which you go to your mining hub and hit the mine button. Every player receives a starting shovel that can be equipped to your avatar to increase mining efficiency. Mining takes time, and you will need to manually collect any TLM once the mining process finishes. Your ability to mine then goes on a cooldown timer that must end before you can start the mining process again. The amount of TLM that can be acquired is quite limited at this stage, but will increase as you acquire NFTs. That’s why Alien Worlds has been described as “simple to start but difficult to master.”
Who Is Behind Alien Worlds?
Alien Worlds was developed and published by Swiss company Dacoco GmbH. Based in Switzerland’s “Crypto Valley,” the company was founded by Michael Yeates, Sarojini McKenna, and Rob Allen. It describes itself as an organization that builds DAOs and continues to develop features for the Alien Worlds metaverse. Prior to Alien Worlds, the team at Dacoco was a part of the GhostbustersX group, an independent tech collective that promotes decentralization. This group was a driving force behind establishing EOSIO’s (EOS) blockchain. It was this team that gathered enough backing from token holders to launch EOSIO’s blockchain.
Yeates is currently Dacoco’s Head of Technology. Before Dacoco, he worked as a developer in the e-commerce industry and was the Founder and Managing Director of an e-commerce platform. He has worked mostly with the Ethereum and EOSIO blockchains since 2017.
McKenna has a background in corporate finance and worked as an analyst at Rothschild & Co’s debt advisory team. She first got into the blockchain industry in 2018 and is a board member of eosDAC (EOSDAC), a Block Producer candidate on the EOS blockchain. McKenna is also a founder and board member at the DAC Foundation, a group supporting the development of DAOs.
Allen is Dacoco’s acting Director. He has over 20 years of experience in the development of information and communications technology projects. He also has a corporate finance background, but switched to working on crypto projects full time in 2017. He is considered a key manager that led to success of the eosDAC airdrop and conversion between chains.
Alien Worlds has gone through two rounds of funding. The latest round was a private initial coin offering on March 22, 2021 that raised $2 million. Many investors are venture capitalist firms and include names like X21 Digital, LongLing Capital, Hillrise Ventures, Digital Assets Group, and Moonwhale Ventures.
TLM Price History
TLM’s price rose in early April 2021, but saw a large drop and stayed steady at that price point until late July. On April 10, TLM’s price rose by over 400% to a high of $6.70. This came after an announcement on April 6, 2021 that Alien Worlds had the most active daily users of any game in the blockchain gaming ecosystem. It was reported during this week that Alien Worlds had seen a 1088% increase in trading activity.
On April 13 the price had dropped to $0.60, which was just under 10% of the peak price and below the price point of early April. TLM’s price slightly corrected itself, but continued to drop to a low of $0.20 in late April. From May through until recently, TLM’s price has hovered at around $0.30.
TLM’s price chart from April 6 to July 26, 2021 (Source: CoinMarketCap)
Currently, Alien Worlds is ranked #230 by market cap. TLM has a circulating supply of 9.1 million with a current max supply of 5 billion.
Alien Worlds is one example of the many exciting new projects being developed using blockchain technology. It is currently the biggest blockchain-based game in terms of total number of players and transactions. Stability is something that has the ability to attract both players and investors. Gamers are typically attracted to games where there is an existing level of competition because it can give more value to any time they invest. Being a cryptocurrency project, Alien Worlds has the added value of actually putting a price on that time.
Even though TLM’s price dropped after spiking in early April, there has been some recent action. The Dacoco team will likely continue developing and adding new features or NFTs to the game, which may help with the game’s popularity. This continued support from the developers and the current popularity of the game will likely strengthen the overall project.