Can Terra Classic’s New NFT Marketplace Bring LUNC Back To $1?

The NFT sector has been a hot seat for newer projects trying to clinch the number one spot. And it will soon be welcoming a new entrant from the Terra Classic network, rivalling top guns like Polygon NFTs & Flow.

The new NFT market, MIATA, will debut on the Terra Luna Classic platform on November 14 according to a recent tweet from renowned Terra Classic community validator, LUNC DAO. Moreover, 2,000 MetaGloria digital collectibles will be produced after MIATA’s launch, which users will be able to buy and sell them on the platform.

New marketplace launching tomorrow. These guys have been wonderful, building their vision since the early days. Don’t miss it $LUNC $LUNA https://t.co/izAAFkoOy3

— 🔥⚛️ 🅻🆄🅽🅲 🅳🅰🅾 ⚛️🔥 (@LUNCDAO) November 13, 2022

Terra’s New P2E NFT Game

The MetaGloria is a play-to-earn game which is set to debut on the Terra Classic Network in the first few months of 2023. The project is led by a group of developers from the Ukraine and includes some fans of cryptocurrency gaming. The project’s website states that its objectives are to increase the number of gamers who enter the cryptocurrency market and decrease the quantity of Terra Luna Classic tokens in circulation.

Read More: Luna Classic Developer Has This To Say About The LUNC Burn

Additionally, the MetaGloria project will print two sets of NFTs, totaling roughly around 3000 NFTs each. The collections will have more than 100 distinctive characteristics to match the many users of digital art. Users can burn the LUNC token as soon as the project is live by exchanging it for the in-game GLS token, per the project’s design.

Terra Classic Network Expansion

Several initiatives like MetaGloria are either about to be introduced or have already been announced on the Terra Classic chain. The LUNCPenguins NFT collections, another NFT project, are getting ready to launch on MIATA soon, according to a LUNC validator.

The validator, who goes under the Twitter handle @HappyCattyCrypto, claims that the 1,000 unique LUNCPenguins have a minting price of 200,000 LUNC, or around $34 at today’s rate. The new MetaGloria NFT project has generated a lot of enthusiasm from the LUNC community because it marks yet another important turning point in the network’s mission to ensure utility by developing alternate ways to burn LUNC.

Read More: New Development in LUNC Can Help UST Re-peg Back to $1

Market Reaction

The latest announcement has led to a lot of hype within the community, but there hasn’t been much action related to the price. At the time of writing, LUNC’s price was trading at $0.00017, up by 1% in the past 1 hour and down by 2% in the last 24 hours.