Arcade Land is a brand new gaming-based metaverse by Arcade Inc. Those unfamiliar with Arcade may recognize the name Apes vs Mutants, a game which they actually created for the BAYC/MAYC event back in February of this year.
Arcade Land NFTs
Each Arcade Land NFT represents ownership of a land plot within the Arcade Metaverse. There are 5 land regions, each with its own resources, items, and experience. It's important to note that larger land plots will receive greater rewards (tokens, resources, perks, spaces, unique access, unique items).
Land NFT stats
Total supply: 10,000
Regular: 5,000 - 0.25 ETH mint
Large: 3,000 - 0.5 ETH mint
X-large: 1,900 - 0.75 ETH mint
Mega: 100 - 3 ETH mint
Jungle - Supply 3200
Dystopia - Supply 2600
Volcanic - Supply 2000
Frozen - Supply 1400
Moon - Supply 800
Compatible NFT collections
What activities does this metaverse include?
This has been advertised as a GameFi metaverse ecosystem that integrates various avatar NFT collections. Fast-paced gameplay seems to be what the experience will be based around. The video below shows players competing in PVE and PVP style gameplay seamlessly jumping from world to world.
Arcade has also announced that they will be adopting Apecoin into their upcoming world.
Paper Ape's Analysis
If you saw the livestream where I discovered Arcade Land, you know I have high hopes for this metaverse. I'll leave the video below if you want to hear my real-time thoughts, otherwise you can continue reading for a more polished version.
These are my main takeaways:
Only 10,000 total land plots
Previous Yuga Labs partnership
The first thing that stood out to me is the 10,000 supply for this land sale project. This is much lower than most other comparable metaverse worlds including:
The Sandbox: 166k total land plots (1.837 floor price)
Decentraland: 97k total land plots (2.93 floor price)
Cryptovoxels: 70k total land plots (1.09 floor price)
NFT Worlds: 10k total land plots (8.5 floor price)
If we take into account Arcade Land's planned interoperability with all these other NFT collections you'll soon notice there's a large discrepancy between total potential users and total land plots.
Bored Ape Yacht Club - 10,000 members
Mutant Ape Yacht Club - 20,000 members
Mfers - 10,000 members
Cool Cats - 9,999 members
Alien frens - 10,000 members
Karafuru - 5,555 members
Bao Society - 3,888 members
If members from all these different collections try to secure a piece of this metaverse it could create a high unique ownership percentage of Arcade Land plots. Based on the collections above, there are about 7x as many interoperable avatars with this world as there are land plots.
Highly distributed collections are usually a good sign that the floor price will steadily increase over time as utility is added.
High unique ownership + Useful NFT = Price go up
I'm a bit of a Yuga Labs maximalist so I'll try not to put too much weight into their previous partnership with Arcade. Still - I think it's extremely important to note.
Everything Yuga Labs does captures the attention of the entire NFT community
Yuga Labs understands the Web3 ethos better than anyone else and can advise Arcade on the correct way to design their world while incentivizing users
I assume both companies have learned a lot from working with each other and that only excites me for the next thing they produce.
What really made me want to purchase a land plot is Arcade Land's inclusion of Apecoin. We still don't know too much about Yuga's plans for the Otherside but what I do know is that the gateway into it is through $APE. I will bet on almost any project that integrates Apecoin under the assumption that there will be a big winner that emerges from it.