Since NeoWorlder’s acquisition of ThemeWorlder’s assets, some parts of Lootverse, like its lore, have remained the same, while others have evolved. The history and virtual world of Lootverse now live on in a new environment called NeoWorlder’s Habitat with the goal to support the growth and evolution of AI people in a simulated environment.
One of the key features that has been reimagined by NeoWorlder in this new project is the Prism.
The prism, formerly known as the Arena, is a gamified platform where participants compete for unique NFTs known as PrismArt using a special token called Bid Units (BUN). Each BUN has a fixed value of $0.20. The Prism will feature only 344 NFTs, and this number won’t change.
Requirements for Joining the Prism
- The prism is only available to commercial accounts with a Type B invite.
- Only 200 invites can be sent annually, distributed across 20 Type B plots.
The purpose of the Prism
Winners of Prism games win the PrismArt. However, participants don’t leave these games empty-handed. They earn 10 $MDR (Multiverse Drawing Rights, an Ethereum-based token) for every 42 Bun bid in the game.
In this sense, the Prism serves as a central bank, releasing new $MDR into circulation through active participation, fueling the Habitat’s economy and rewarding those who drive its growth.
Uses for $MDR
$MDR unlocks a range of services on the platform, including:
- Getting persona allowances: Spend 1,000 $MDR to unlock 10 allowances for your AI people.
- Holding conservation plots in the Habitat: Available for commercial accounts only.
- Buying Habitat assets: This includes things like energy and other useful items.
- Staking MDR to create AI people: Use $MDR to unlock AI person slots (for AI persona operators only), allowing users to create and deploy new AI people.
- Taking part in governance: Use $MDR to vote on platform decisions and help shape the future of NeoWorlder.
Trading on Ethereum: $MDR can be traded on the Ethereum network like other tokens.
The amount of $MDR in circulation changes in two ways:
- Bidding in the Prism creates new $MDR, increasing the total supply. This is called inflation.
- On the other hand, some activities remove $MDR from circulation, like when users lock $MDR to get licenses. This reduces the supply and is called deflation.
Joining a Prism Auction
- Players pay a joining fee. The game only starts when at least three people commit to play.
- At first, there’s a range of possible fees, and players can contribute what they want within that range. During this time, participants can increase their escrowed amount, but they can’t reduce it.
- If enough people join, the game is confirmed, and the fee is locked.
- If not enough players commit within 120 hours, everyone gets their money back immediately.
- Once the game is locked, it starts 49 hours later. Other players can still join during the first 48 hours, and as more people join, the fee for new players goes down.
- If participants pay more than the required fee, the extra amount is refunded into their account immediately.
Auction Bidding Rules
- All bidding is done automatically by a bot. Bids can’t be placed manually.
- Each bot takes turns placing bids, one at a time, every 3 to 15 seconds.
- The NFT is won by the last bot to place a bid before the timer runs out.
- Bid bots can be loaded with BUNs before the game. Participants can only spend a maximum of 25,200 BUN, equivalent to $5,040, in a single game.
- Participants will earn 10 $MDR for every 40 BUN bid in a single auction. They can earn up to a limit of 6,000 $MDR per game. Bidding less than the mentioned amount will result in no $MDR being earned.
Selling an NFT in the Prism
To sell an NFT on NeoWorlder, sellers must first lock, or escrow, their NFT before listing it for sale. They set a fixed sale price, and the listing remains open until it’s either canceled or purchased. Once the sale price is met, NeoWorlder takes a 20% fee, and the seller receives 80% of the payment in USDC after a 48-hour processing period.
After the sale, the NFT enters a battle-bidding phase where players compete to win it. At the end of this bidding phase, the seller also earns a 20% commission based on the total amount of BUN spent during the bidding.
Sellers can lower their sale price at any time to attract buyers, but cannot increase it once it has been set. They are free to cancel the listing unless the sale price has already been met.
Auctions operate in two-year cycles, followed by a two-year break before the next cycle begins.
After an Auction
- Auction winners receive the NFT, which they can choose to keep or trade on a third-party marketplace like Opensea. NeoWorlder does not facilitate peer-to-peer trading of NFTs.
- Participants receive 10 $MDR for every 42 BUN bid in an auction.
Conclusion
The Prism is more than just a digital auction house; it’s a dynamic system that brings together art, strategy, and the growth of the NeoWorlder ecosystem. By blending competitive gameplay with token rewards, it gives participants a way to contribute to the platform while earning meaningful returns.
Whether players are bidding for rare PrismArt or helping fuel the NeoWorlder’s economy through $MDR, the Prism enables users to play an active role in shaping the future of this evolving system.
