The Terra Classic revitalization plan seems to be working as several project builders have chosen to pitch their tent on the blockchain. As earlier disclosed, an epic non-fungible token (NFT) marketplace that supports LUNC burning will launch on the Terra Classic blockchain today.
According to an announcement on Sunday by LUNC DAO, this new NFT platform set to go live on the Terra Classic chain today is dubbed MetaGloria & Miata.
In line with this, LUNC DAO will be hosting an Ask Me Anything (AMA) session to reveal more details to the optimistic LUNC community at 10 pm UTC. Classic Crypto, a popular Terra Classic (LUNC) validator, will be co-hosting the AMA session.
Will be co-hosting this $LUNC AMA w/ @LUNCDAO.
Looking forward to speaking about #LUNC projects! https://t.co/986nM9xru7
— Classy 👾 (@ClassyCrypto_) November 14, 2022
It is said that the team has taken sufficient time to develop the MetaGloria & Miata marketplace in a way that would greatly benefit the Terra Classic (LUNC) ecosystem.
MetaGloria Would Burn LUNC Tokens
MetaGloria is a play-to-earn game, developed by a team of game developers and crypto enthusiasts from Ukraine. The gameFi project seeks to give gamers a high-quality gaming experience while also allowing them to earn.
Particularly, MetaGloria is designed to help the Terra Classic community to burn its hyperinflated LUNC supply.
Read Also: Terra Classic Burns Surpass 27 Billion LUNC and Total Staked Now More Than 857 Billion Tokens
“Because of recent events, Terra Classic’s asset holders felt the loss associated with an emissions increase, which led to a drop in value. The only possible way out is to burn excess tokens. which is why we provide the opportunity to exchange LUNC for the GLS (donate) token that is used in our game,” MetaGloria wrote.
The MetaGloria play-to-earn team made available only two collections of 3000 unique AI-generated non-fungible tokens for minting. So far, 1000 unique NFTs have been minted while the team plans to release the remaining 2,000 Muji NFTs. Notably, these NFTs were created on the Terra Classic blockchain.
Ultimately, the launch of the MetaGloria & Miata NFT marketplace is a forward-moving development for the Terra Classic community as it would contribute to the reduction of the total supply of LUNC.
Meanwhile, a developer in the Terra Classic community recently presented a proposal that would help burn LUNC tokens worth about $4.16 million. Another update showed that Terra Rebels burned 7.93M LUNC after the second round of the Terra Classic lottery game.
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