Rifters: Redux
Could this project overtake the Sandbox?
Have you ever heard of a team minting out the supply, raising 200+ $ETH, and then refunding minters and increasing holder rewards, because the specifics around the mint needed to be improved to enhance the LT viability of the project to benefit holders?! @riftersio #BizEthics
Why? That is the big question. Isn't raising 200+ $ETH a huge success when you minted out the available supply as intended? Yes and no. What was the purpose of the mint? Cash grab? Or building a web3 gaming juggernaut?
#Rifters by many metrics had a very successful day 1 and day 2 of the planned 4 day mint festival. However, the reason the team decided to hit the restart button knowing they were opening themselves to tons of #FUD was actually for the LT good of the project and investors.
BS? Let's start with understanding the vision of Community First Games (C1) and the importance of Rifters to that vision. #Web3Gaming is about bringing communities together and empowering the users of the ecosystem a la #ReadyPlayerOne. How does Rifters accomplish this?
Unlike most games that are gated where you have to buy their NFT to play the game, Rifters sought out 10 major NFT projects on #Solana to start and built a game FOR THEM using their NFTs. No purchase necessary. Oh, and they added a $1,000,000 prize pool for the winner.
What did this do? It created the most interactive and engaging web3 game on Solana in the matter of just two months, raised nearly $3m in their own mint and saw NFTs selling for as much as 75x mint price. Probably nothing...
Solana NFT projects that are participating have already seen a total of 4,000 $SOL sweeps for winning PvP events in the game for @TrippinApeNFT, @HoneylandGameFi, and @Astrals_NFT.
Staking your OG Solana Exiles from Rifters also has been earning you Clovers where you can mint stuff--for free--in their bid-to-earn DVM platform. Yesterday, over 500 $SOL of prizes were minted--for free--using Clovers as a giveback to Exile holders.
Another free Clover only mint will happen again today at 5pm UTC and the team has stated that these will happen more routinely. Can't find an NFT with utility though, right?
Mint: https://dvm.rifters.io
Exiles: https://magiceden.io/marketplace/rifters
Now back to that upcoming mint on Ethereum. When is that happening? TBA, but the early indication from the team is somewhere around 12/23 - 1/3 as they revamp marketing efforts to ensure a smooth traditional mint this go around.
Why is it vital to not just raise capital, but have success in the upcoming mint? And what does success look like? It's necessary for Rifters to continue to grow across multiple blockchains if it ever will become a true #Metaverse. I know... that word gets overused and abused.
However, that's the true concept here and that is what a #ReadyPlayerOne universe looks like. A place where owners of #NFTs from a variety of chains, utilities, and lots of shapes and sizes come together. Not even for a common goal, just a place where they do fun shit.
Rifters has big goals. Being the #1 gaming project on Solana is nice. Being the #1 gaming project on any blockchain is nice. That's not big enough for Rifters. Many people are taking notice and founder @andrew_ringlein has the connections and the chops to make it happen.
Make sure you follow the team and join into as many of the upcoming #TwitterSpaces as you can if you want to learn more about the project. You can also join the discord and immerse yourself there too if that's your thing: https://discord.gg/c1g.
Oh yeah... and as for the FUD after the DVM mint, expectations were that floor price would tank. The team did a global unlock to let people liquidate and guess what happened... yeah... the floor price WENT UP. Definitely nothing...
Thanks for stopping by The Metaverse Illuminated, I trust this edition has brought more to light for you. Remember, you call the shots, take what works for you, discard the rest.
Stay alert for the next edition of TMI, until then you can follow me on my: socials.