Gamers Pledge $203M in 'Ember Sword’s' Virtual Land Sale

Almost 35,000 people submitted applications to purchase 6,000 virtual plots of land.

AccessTimeIconAug 4, 2021 at 1:00 p.m. UTC
Updated Sep 14, 2021 at 1:35 p.m. UTC

Almost 35,000 gamers have collectively pledged more than $203 million to purchase virtual plots of land in the online world of "Ember Sword," an unreleased video game.

Bright Star Studios, the game's Danish developer, will sort through the applications before choosing candidates to purchase the 6,000 plots of land available in the Solarwood Nation, one of "Ember Sword’s" four virtual worlds. 

Owning land in "Ember Sword" gives gamers the opportunity to share in trading fees and earn Ember, the game’s ERC-20 token, from economic activity on and around their virtual plots of land.

"Ember Sword," which plans to conduct testing for virtual land owners and select community members later this year, is following in the footsteps of other play-to-earn blockchain-based games like "Axie Infinity" that are revolutionizing online gaming. 

“We are working to develop a player-driven economy that allows gamers to earn rewards and make money through in-game activities, including the creation of unique, tradable NFT (non-fungible token) items,” Mark Laursen, CEO of Bright Star Studios, said in a statement. 

Bright Star founder Loren Roosendaal estimates that 70%-80% of applications for the NFT land sale came from individual gamers, and groups including Twitch streamers, virtual real estate firms and decentralized autonomous organizations (DAOs) like Yield Guild Games accounted for the rest.

"Ember Sword’s" most recent land sale comes after a $1.5 million sale in May, which Roosendaal told CoinDesk struggled with technical challenges after demand exceeded Bright Star’s expectations. 

In May, Bright Star raised $2 million in a funding round with participation from CoinGecko Ventures, Delphi Digital, Animoca Brands and others. 

Roosendaal told CoinDesk that the funding will be used to develop "Ember Sword" further and hire additional staff. 

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Crypto News Roundup for July 6, 2022

With crypto markets trading in the green and a look at crypto job satisfaction just as the crypto winter began, CoinDesk’s “Markets Daily” is back with the latest news roundup.

CoinDesk - Unknown
2
CoinDesk - Unknown
Genesis Confirms Exposure to Three Arrows Capital

Digital Currency Group, the crypto conglomerate that owns Genesis, is assuming some of the liabilities.

CoinDesk - Unknown
3
CoinDesk - Unknown
Ethereum's Sepolia Testnet Successfully Switches to Proof-of-Stake

The Sepolia proof-of-work chain merged with its proof-of-stake chain on Wednesday, taking Ethereum one step closer to its own Merge moment.

CoinDesk - Unknown
4
CoinDesk - Unknown
Nic Carter vs. The Bitcoin Maximalists

If maximalism has become nothing but a refusal to think through bitcoin’s actual usefulness, it has become an intellectual dead end. No surprise, then, that the intellectuals are jumping ship.

CoinDesk - Unknown