Star Atlas Offers Huge Discount on NFTs Due to FTX Saga
As a result of the FTX implosion, Star Atlas non-fungible tokens (NFTs) are entering the market at a significant discount.
Star Atlas CEO Michael Wagner has issued a statement on Twitter informing fans that FTX accounted for a significant portion of the company’s short-term capital. Star Atlas’ runway is reduced by half, from years to a few months. Wagner appears to want to raise funds.
So, while Star Atlas waits to potentially recover their frozen funds and find new investors, they have launched a series of NFT sales. In total, four NFT sales are expected to open in the coming months, all in USDC.
The Titan Sale comes first. Only three ships are for sale, one for each faction: the Pearce T1, Busan — The Last Stand mk. VIII, and the Fimbul ECOS Superphoenix. There will eventually be three Titans of each class, as well as three additional Titan classes that are not faction aligned, for a total of 18 Titans in the galaxy.
80% discount to be offered for Titan ship sales
There is an 80% discount on all Titan ship sales, but the discount is not fixed and is expected to decrease with each week. A Titan costs $5 million on average. As a result, the Titan is now worth $1 million. The sale will begin during the week of November 21st.
And you would expect a lot of perks for a million dollars. However, it appears that, aside from owning an extremely rare NFT, all you get is a unique skin and the opportunity to earn more ATLAS tokens via their staking system.
However, people have certainly spent more on less, so we’ll see how this sale goes. There is no official start date yet, but they hope to begin it during the week of November 21st.
Star Atlas NFTs will also be available through the Claim Stake Sale and the Land Claims Sale, which will take place at an unspecified date in the coming weeks.
Claim Stakes extract resources from planets visited by players. Meanwhile, players can dock cargo and earn in-game bonuses with Land Claims for the Central Space Station.
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