MoneyTree Announces the Launch of its NFT Store on Lootex
London, England / October 27, 2021 / MoneyTree, a truly deflationary and fully decentralized gaming token, announced the launch of its NFT store on Lootex. The partnership between the two would allow users to trade all the 1 million MoneyTree NFTs on Lootex. Over 400 NFTs have already been purchased or won in loot boxes. The $MONEY token passively rewards investors with dividends and royalties from sales of the 1 million unique NFTs that Money Tree has generated. The Money Tree token also enters investors into an automatic weekly lottery, at no cost, that pays in BUSD. Users can enter the lottery by simply holding the native token $MONEY and they stand a chance to also win NFTs, the more tokens held, the higher the odds of winning.
The project was launched on 16th October and the first weekly lottery ran on October 22nd and paid over $43k to one holder. MoneyTree has a market cap of $1.2M and approximately 1300 holders
The NFT frenzy is now upon us as the ecosystem grows into a multi-billion dollar industry. After seeing early collaboration from brands and celebrities, NFTs have now become a favorite in the gaming arena. Where multiple play-to-earn projects hit the market over the last quarter. The latest craze combines the best of the gaming industry with the crypto world. Players earn valuable NFTs and in-game tokens which can be traded on real-world exchanges against other popular cryptocurrency. MoneyTree aims to take the P2E industry to the next level with its mini games and a million NFTs collection.
Money Tree has taken a fully decentralized approach, all the processes happen entirely on-chain with no external inputs or APIs. The project works on top of Binance Smart Chain that makes way for innovation and significantly more resources for developers. The benefit in a decentralized-first mindset is that players & investors can rest assured that no inputs have been tampered with and this allows players to operate in a trustless manner – in line with the overarching philosophy of blockchain.
MoneyTree Brings the Best of NFT Collectibles and Blockchain Gaming
MoneyTree would launch 3 exciting mini games that can be played for a chance to win more tokens and Loot boxes. These mini games are designed to be statistically fair, meaning that there is no unwarranted advantage to the owners and all players have an equal chance at winning. The mini games incorporates Chainlink’s Verifiable Random Function (VRF) to provide an unbiased and transparent result to all players, which cannot be interfered with by both internal and external sources. The three mini games that would be available at launch include,
- Numberdome: A mini game where players have to choose 3 numbers between 1 and 5 and try to match them to the numbers generated by Chainlink’s VRF system. It costs a flat fee of Money Tree tokens to enter and is subject to the valuation of the token.
- Gridlock: Gridlock is a chance-based game with statistically fair odds of winning. The player chooses their positions on the grid, an unlimited number of tokens can be placed on the grid, in different rows or between grid numbers. Chainlink VRF will be called to determine the winning number. The result will be the same for all players. All bets are burned, winners have tokens minted. This game affects the total supply of the token, but due to the statistically fair nature of the game, the effect will average at 0 with small fluctuations.
- Versus Mode: VS mode takes current affairs and sporting events and lets one guess the winner or outcome of the event. The player picks their side which they think will win. Their tokens go into the pot. The winning team takes the loser’s pot. The rewards are proportionately distributed according to the individual stake. The game will not be playable around an hour before the event is due to start. Stay vigilant on Telegram, Twitter, and the website for announcements on when this game is due to run, so there is enough time to participate.
Apart from the mini games, the MoneyTree also boasts of one million NFTs hosted on IPFS and pinned with Pinata. There are 5 rarities, 2 NFTs can be burned and combined into one random NFT of a higher rarity. These NFTs can be purchased via built-in marketplace or through purchasing a random loot box, 90% of the $MONEY from NFT purchases are sent to a dividends wallet and the remaining 10% is burned.
MoneyTree Economy and Token System
MoneyTree had no pre-sale to ensure it suits well in line with the principles of decentralization and 90% of the total token supply is put up for liquidity on PancakeSwap, the remaining 10% is assigned to the team. 50% of LP tokens were burned and the other 50% is locked for one month and planned to be eventually used for future exchange listings.
The transaction tax charged is imperative to the overall structure of MoneyTree and is used for several features. In order to run a successful gaming economy, every transaction incurs a 5% tax out of which 2% goes into LP, 2% goes into the lottery as BNB, 1% goes to marketing as BNB. Unlike other LP tokens, MoneyTree’s automatic LP is owned by the 0x00.. address, not the contract owner. The project utilizes a proxy contract and has plans to implement many more fully on-chain mini-games to further expand on the platform and increase the utility of both the token and the NFTs.
To learn more about MoneyTree visit Moneytreecoin.io
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Source : Money Tree