- NFT Worlds was the most affected by a recent ban of using NFT technology on Minecraft servers.
- WRLD token sank to $0.014, erasing as much as 30% off holders’ balances.
- New voxel metaverse may take a while to rebuild and migrate all the content on the current servers.
NFT Worlds is one of the most involved metaverse projects, which created a thriving community of builders. However, NFT Worlds hit a big roadblock when Mojang said it would not support Web3 projects and NFT derived from the Minecraft universe.
NFT Worlds hinged on creating Minecraft-compatible servers with exclusive skins, which were traded on OpenSea. After the ban on NFT projects, NFT Worlds is forced to rebuild its metaverse from scratch, creating its own version of the voxel world. The NFT project will not just offer an open-source Minecraft version, but will built a similar voxel metaverse.
As a result to the shift in development, NFT Worlds trading for land plots has lost its previous leading position. Now, the metaverse land plots are the fifth biggest market, giving way to Decentraland and The Sandbox. NFT Worlds still have a 1.25 ETH floor price and 1,000 owners of the exclusive 10K plots collection. NFT Worlds also issued an avatar collection, again capped at 10,000 items.
Will WRLD Survive
WRLD was one of the leading sources of income from NFT Worlds. The token was granted for early adopters that held and staked their land plots.
WRLD peaked at $0.50, and slid to its current level of $0.014 as it faced selling pressures. But for a while, NFT Worlds produced significant income for early buyers of digital land. The Mojang announcement immediately put even more pressure on the WRLD asset and there may be more corrections due to the game’s need to reorganize.
Now, the fate of WRLD depends on the readiness of NFT Worlds to build the Web3 version of Minecraft, focusing more on ownership than on corporate bottom lines.
Building continues on the currently owned NFT worlds, and the game team will try to preserve the content and make the new game backward-compatible. The goal of NFT Worlds is to offer all participants a way to build Web3 assets even without an initial purchase, moving away from the microtransaction model by credit card that is the staple on Minecraft.