The first phase out of the five Alpha Sector Lands Auctions took place yesterday, March 15th, and sold out in seconds. Outer Ring will open the second phase on Saturday, March 18th.
The first phase of Lands Auctions, in short:
- Lands sold out within seconds among the Early Explorers NFT holders.
- Outer Ring has burned a total amount of 490,320 GQ from the resulting payments.
- Next phases will block the buyout option for the first 24 hours, increase its price and limit wallets interaction.
- The Lands were fairly distributed among the community and no gas wars took place.
Yesterday, Outer Ring opened their first round of Lands Auctions, which is taking place in five selling phases, with each one lasting 72 hours, from March 15th to March 30th. Although participation is exclusive for Early Explorer NFT holders, the first phase experienced an astonishing level of demand, with approximately 20,000 visits to the website. As a result, the Lands quickly sold out within seconds.
The only accepted payment method for purchasing the Lands is through the use of GQ, the governance token of Outer Ring. This sale model does not involve any development fees. The tokens resulting from these transactions are burned. As a consequence, a total of 490,320 GQ were removed from circulation yesterday.
Preparing for the next auction phase
Outer Ring has developed an innovative method for distributing Lands among its community by dividing the sale into four rounds, each containing five phases. As stated in their construction roadmap, two rounds will be sold before integrating the Lands into the game. The remaining two rounds will be sold once players have access to them in-game.
The next phase of the first round of auctions is scheduled for Saturday at 2.00 p.m UTC and will feature some changes requested by the community. The buyout option will increase as originally planned, but it will only be available after a 24-hour period has passed. Additionally, the team will introduce a limitation on smart contract interaction. A single wallet will only be permitted to use the buyout option once every ten minutes and place a bid once every 15 seconds.
Although the 61/1525 Great Silver City Lands NFTs were purchased by 44 different wallets and there was no significant activity from large-scale buyers or “whales”. These changes will leave even more room for the community to get a Land at the best possible price.
Once you get your land…
If you weren’t able to purchase a Land in the first phase, you can prepare for the next one by navigating the map inside the Outer Ring Dapp and visiting your future neighbors. Once you get your land, you will be able to enjoy utilities both outside and inside the game, using it to get resources, speed up processes, and expand your inventory.
To find out more about Outer Ring and its blockchain ecosystem. Follow its social media channels or join its community over at Discord or Telegram.