Materium pumps in value after earlier airdrop and anticipation of future utilities and financial opportunities
The Mirandus community at Gala Games holds its breath in anticipation of new liquidity pools and further functionality for the MTRM token, which doubled in value over the past few days. Gala Games franchise Mirandus airdropped its new native token to loyal community members during March.
Summary
What is Mirandus?
Mirandus is a blockchain-based play-to-earn MMORPG. The game is ambitious in its attempts to give players control of as much of the platform as possible. From in-game shops to entire cities, users are genuinely responsible for the smooth running of the Mirandus economy.
Gamers control their avatars to fight monsters and search for wearable assets. But they can also immerse themselves in a full-scale virtual economy without having to tackle ogres and engage in sword fighting.
Holding a piece of land with strategic importance enables the owner to profit from heavy foot traffic that passes by their plot. They can sell their wares to passers-by or be a part of player-owned cities. Building on land is a key part of the Mirandus world. It costs money to do it, but the rewards can be great.
Think of Mirandus as an online world like The Sandbox, Decentraland or NFT Worlds. But in this corner of the metaverse, inhabitants can also go on fantasy adventures and fight against mythical figures.
Gala Games has done two stress tests for its community members thus far, but none of these represented a product that was anywhere close to finished. Doubts remain that an alpha version will be ready even by the end of the calendar year.
In-game token MTRM surges over seven days
Over the past week, Mirandus’ native token Materium (MTRM) has shot up in value; at one point earlier today it had increased by about 100% to a high of $0.96. Since then, the price has settled back down and the seven-day jump sits at 64%. Still, that’s a rise from $0.47 a week ago to $0.74 at the time of writing.
As with all franchises in the Gala Games stable, players cannot purchase Materium directly from the company. Instead, players earn the token by taking part in testing or performing tasks in the game. Gala Games teased Materium for the first time in November 2021, but it was only in March that users finally got their hands on it.
The token has a few purposes in the Mirandus ecosystem:
- It can heal wounds and restore energy.
- It increases player attributes such as strength, speed and endurance.
- Players can use it to cast spells.
- It can act as a substitute for missing ingredients in crafting recipes.
- Players can use it to teleport around the game.
The recent boost in token price was preceded by a rise in Mirandus’ overall on-chain activity. If we look at analytics from the previous 30-day period for the game, we can see multiple spikes in various areas.
- Users, that’s the unique active wallets interacting with the platform’s smart contracts, increased by 43% to 6,440.
- Transactions on the platform went up by 29%. That’s a move from 21,049 to 27,110.
Why the hype?
This all comes down the way that Gala Games launches coins within its ecosystems. As mentioned already, users cannot buy coins directly from the company. In this case, players earned Materium for doing two things.
The first was holding a powerful Mirandus avatar called an Exemplar. They had to have this in their wallet on December 12th, 2021. The second was taking part in the Mirandus playtest between December 13th and January 3rd.
Last month, March 2021, Gala Games finally started distributing Materium to players who fulfilled both of these conditions. Liquidity pools have already sprung up, now that enough people have their hands on the coins. And it seems only a matter of time before these proliferate and a wider audience begins to trade the token.
The relative scarcity of Materium and the popularity of Gala Games’ franchises means there’s a good chance this coin’s value will continue to go up, at least in the short-term. But the success and popularity of the Mirandus game will be the ultimate driver behind the coin’s long-term value.
To stay up to date with this story, stay tuned with the DappRadar blog. You can keep a track of Materium’s value using our Token Explorer. And you can see if Mirandus maintains its popularity by checking its on-chain activity and viewing its position in DappRadar’s ranking pages.
