As part of NeoWorlder’s continuation of the Lootian Project, 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 of supporting 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 draws inspiration from the Lootian project’s Arena game. Here, players compete for unique NFTs known as PrismArt using a special token called Bid Units (BUN). Each BUN has a fixed value of $0.20.
Requirements for Joining the Prism
- The prism is available to commercial accounts with a Type B invite. Only 200 invites can be sent annually, distributed across 20 Type B plots.
- Early adopters of the Lootian Project are also eligible to join the Prism.
The purpose of the Prism
Prism game winners claim the art, which they can choose to keep, relist for sale in the Prism, or trade on a third-party marketplace like Opensea. NeoWorlder does not facilitate peer-to-peer trading of PrismArt. All participants earn 10 $MDR for every 42 Bun bid. The Prism acts both as a marketplace for PrismArt while driving new $MDR into circulation through active participation.
Uses for $MDR
$MDR unlocks a range of services on the platform, including:
- Getting persona allowances: Stake 1,000 $MDR for every 10 allowances to create AI people.
- Purchasing and owning 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 persona slots (for AI persona operators only).
- Taking part in governance: The system uses a two-step voting process. In the first round, the outcome depends on how much $MDR participants can stake for or against a proposal. The more $MDR you commit, the more influence you have. If the proposal advances, the second round gives every participant an equal vote, where the majority decides the final result. Submitting a proposal also requires an $MDR fee.
- 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 mints new $MDR, increasing the total supply. This is called inflation.
- On the other hand, some activities either lock up $MDR temporarily (staking) or remove it from circulation permanently (burning). This reduces the supply and is called deflation. For every 1,000 $MDR you stake for 18 months, you earn 10 persona allowances. When you unstake after 18 months, 20% of your staked $MDR is burned.
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 by a bot, which can be started and stopped at any time.
- 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 can earn up to a limit of 6,000 $MDR per game. Bidding less than 42 BUNs will result in no $MDR being earned.
- The Prism will feature only 344 NFTs, and this number won’t change.
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.
Conclusion
The Prism is more than just a digital game; it’s a dynamic system that brings together art, strategy, and the growth of the NeoWorlder ecosystem. Blending competitive gameplay with token rewards 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.
