What is League of Kingdoms (LOKA): On A Quest To Conquer the GameFi Realm
According to an official March 2022 press release, League of Kingdoms Arena (LOKA), the flagship game of League of Kingdoms, has gained over 150,000 daily active users and over 800,000 monthly active users since its launch in 2020.
Designed for the non-crypto user in mind, LOKA developers introduced GameFi features in a gradual and optional manner, allowing the game to “attract a very diverse and gaming-native community,” said the release.
It was because of the growth of this user base that in January 2022, in a bid to “bootstrap the in-game economy,” LoK introduced a Play-to-Earn mechanic with a collection of NFTs named Drago (more on this below).
The League of Kingdoms native token, LOKA, has a circulating supply of 25.1 million tokens and a current value of $1.23, for a market cap of $15.5 million.
What is League of Kingdoms?
League of Kingdoms (LoK) is a blockchain-based, free-to-play Massively Multiplayer Online (MMO) game with a focus on building kingdoms, growing armies and forging alliances. The better a gamer can strategize how he builds his kingdom and alliances, the more chances he has of earning from the game.
How To Play League of Kingdoms Arena (LOKA)?
Like other battle strategy games, the objective is to grow one’s kingdom by carefully farming and managing resources, while defending against rivals or battling monsters. However, the game is well-diversified enough such that if you’re less given to combat, you can always focus on resource combat instead.
There are different game modes in LOKA:
- Single Player: Gamers can spend time building kingdoms, harvesting valuable items and training soldiers to develop their kingdom.
- Player vs Player (PvP): Gamers can fight other gamers to protect their properties, leveraging treasure items to empower their soldiers and fend off attackers.
- Player vs Environment (PvE): One or two gamers can compete against game controlled systems such as natural disasters or non-player character (NPC) combatants. Depending on the battle outcome, the in-game currency (LOKA) or NFT reward then gets shared among the gamers.
- MMO mode: Groups of gamers form alliances to work on common goals and strategies such as building upgrades, shoring up resources or increasing resistance against attackers. For new players, this may be a good way to experience the game before flying solo.
How to Earn LOKA Crypto in League of Kingdoms
Gamers can earn crypto in League of Kingdoms via several ways:
- Own land. Gamers who own land can earn passive income–5% of resources harvested by players are redistributed to landowners. They also receive 10% of profits from in-game purchases in DAI.
- Trade land. All lands in the game are NFTs. Gamers can trade and develop their lands with one another by inviting other gamers to farm resources and be active in the zones. Besides its official platform, land can also be bought on the secondary market from OpenSea or PlayDapp.
- Farm resources. Earn resources in the game and then sell them on external marketplace platforms.
- Special tasks: LOKA tokens can be earned by participating in competitions and performing special tasks.
League of Kingdoms NFT – Drago Genesis
To increase Play-to-Earn opportunities for LOKA players, the team launched a new NFT collection “Drago Genesis” on 30 May 2022, featuring dragon-like companions which can be deployed into battle arenas.
Source: League of Kingdoms
In this “Genesis” launch, a total of 10K Dragos was released. The catch: after this release, all Dragos need to be bred from the existing population. This is where the Play-to-Earn aspect kicks in–players have to “invest” in Dragos and breed them.
Alongside the Genesis launch was a new NFT marketplace and an in-game utility token called Dragon Soul Token (DST) used for the breeding process.
Source: League of Kingdoms
What is League of Kingdoms Token (LOKA)?
The native governance and utility token issued by the League of Kingdoms is LOKA, an Ethereum-based currency. It was released to users on 20 January 2022 for various uses such as:
- Governance: Propose and vote on changes to the game
- NFT creation and booster: Breed Drago NFTs and upgrade other special NFTs
- In-game currency: Purchase assets such as land, skins and upgrades
- Platform rewards: Stake LOKA tokens to earn LOKA rewards
LOKA Token Price History and Outlook
LOKA has only existed for an extremely short period of time, and as such there is little price history to analyze. Initially trading at $2.43 on 21st January 2022, the price of LOKA saw a dramatic increase, reaching an all-time high of $5.04 on the 30th of March due to increased user adoption.
LOKA token price performance, Jan. 2022 to Apr. 2022 (Source: CoinMarketCap)
Unfortunately this was not to last, as a sustained mass sell-off became all but unavoidable. By 5th May 2022, the price of LOKA token had dropped all the way back to $2.47, almost exactly its starting price from just several months earlier. Since then the token’s price has begun to trend downward strongly, with the collapse of Terra having an effect on multiple currencies throughout the crypto industry, as well as a global market downturn.
It is, however, noteworthy that the League of Kingdoms leadership team has previously raised $3M from a panel of major investors, including Hashed, a16z, Kyber Network and Sequoia India.
In a Medium post explaining the basis of its investment in LOKA, Hashed highlighted a metric known as the Average Revenue for Paying Users (ARPPU) which indicates how much gamers spend on a game. It claims that while ballpark ARPPU figures for lucrative MMO strategy games is around $60, the ARPPU for League of Kingdoms is $123.
With a growing user base and continued development, LOKA might just emerge a GameFi frontrunner in the months and years ahead. LOKA’s CEO Chan Lee has experience in consumer app services, FinTech, and Blockchain, while the CTO Steve Hwang and the overall development team are gaming industry veterans with experience from AAA studios such as Nexon, Com2US, EA, Netmarble and Smilegates.
LOKA has a circulating supply of 25.1 million tokens and a current value of $1.23, for a market cap of $15.5 million.
League of Kingdoms Wallet – How to Store Crypto in League of Kingdoms
While the League of Kingdoms does not actually issue its own wallet, players are required to have a crypto wallet in order to store NFTs and other specific cryptocurrencies. There are many types of crypto wallets available; be sure to research the one that is most suitable for your needs.
Where to Buy League of Kingdoms (LOKA) Token
Let’s use Phemex platform for this demonstration. Buying LOKA on Phemex is a straightforward process:
- Go to the Phemex.com homepage and select your preferred purchase method from the “Buy Crypto” menu.
- Follow the instructions to create a Phemex account.
- Deposit fiat currency or crypto into your account.
- Search for “LOKA” and consult the live price chart.
- Specify your maximum buy price, as well as the quantity of LOKA you wish to buy, and confirm the transaction.
- Your LOKA will appear in your Phemex wallet. Cryptocurrency settlements on Phemex usually arrive within two hours.