A Detailed Introduction to LALA LAND
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It’s no secret that the world has changed a lot within the last decade, more than several decades before combined. There is no arguing that much of this evolution is attributed to new technologies, particularly Blockchain.
That is not to say that AI, IoT, AR, and VR have not played a significant role in transforming our world into its digital version. We are simply acknowledging that Blockchain is right at the forefront of the 4th industrial revolution. It holds the digital world together and provides the security we need to build trust in this digital world.
In this article, we will talk about an exciting Crypto project that could potentially change the world of finance as we know it. Let’s dive right in.
What is LALA LAND?
Simply put, LALA Land is a Blockchain platform that combines NFTs, Gaming (Metaverse), and DeFi. It is combining these three fields by creating a DeFi solution, an NFT marketplace, and a game for NFTs. All of these are not just global and very relevant but they are quite timely.
Whether you are a digital creator, a seller, a buyer, a gamer, or just a digital investor LALA land has got you covered. For the creators, buyers, and sellers, the NFT marketplace is the perfect place to be. The DeFi tools help enthusiasts and investors to make the most of the digital space. And lastly, the gaming structure allows players and other game lovers to earn from what they enjoy the most.
The above functions can best be summarized as follows:
- An independent and open NFT ecosystem for users to get familiar with the Blockchain and the DeFi space
- An NFT marketplace, allows NFT enthusiasts to engage in the full NFT lifecycle, allowing anyone to issue NFTs, participate in marketplace auctions, and trade NFTs
- An NFT ecosystem that allows users to participate in NFT games.
Why was it created?
LALA Land was birthed to create a more favorable, more consistent, and healthier NFT environment. The team had a goal to develop an NFT ecosystem based on Binance Smart Chain; this not only increases scalability and reliability but also minimizes the gas fees.
Thanks to the recent increase in the number of projects, use cases, and applications on the Binance Smart Chain, LALA is guaranteed popularity. The project team strongly believes that its community holds the potential to solve a manifold of the world’s problems. With proper tools, communities can come together, take matters into their own hands and tackle their issues more effectively.
- Vision – LALA’s vision is to create the number one ecosystem for DeFi, NFT games, and valuable NFT Assets. The team is utilizing innovation, advanced technology, and a high level of team expertise to create a highly successful NFT ecosystem. They want to be at the forefront of the next level in NFT transformation.
- Mission – LALA is aimed at becoming the ‘internet’ of the NFT space by bridging DeFi, the NFT marketplace, and the gaming world.
LALA Land Ecosystem
The LALA land ecosystem aims to maximize the value of NFTs, Gaming, and the Metaverse. The ultimate target is to give token holders the authority to vote, explore, and enjoy different features in the LALA ecosystem.
The goals can best be broken down as follows:
- Building a global and decentralized community where the gaming model is a play-to-earn system that allows players to play competitively to earn in-game rewards
- Reserve high yielding assets such as crypto, NFTs, and in-game assets
- Allow the community to participate in different project developments based on voting
- Coordinating with gamers, the community, and developers to work on Metaverse games and to mint NFTs.
What makes up the LALA Ecosystem?
Generally, the LALA Land ecosystem is comprised of DeFi (Decentralized Finance), Gaming and Gamblingas well as Metaverse (NFT). This section is going to be giving a detailed account of each category:
The LALA Land DeFi structure is designed to give holders yields to earn LALA tokens by staking LP tokens. LALA land yields APR is calculated using LP rewards APR earned through providing liquidity and also by staking LP tokens.
The team also intends to have a Decentralized exchange that will allow users to trade in-game items. They are also working on lending platforms that will allow users to take out loans on their virtual land.
In summary, the DeFi feature on the LALA land ecosystem will accord users with the following privileges.
- Trading and swapping tokens on the DeFi Swap function
- High-yield vaults that rely on aggregation strategies
- Staking and farming to receive rewards in LALA tokens during the minting period and the LALA-BNB liquidity pools
- Lending and borrowing functionality to earn high-yields and magnify returns by leveraging on lender funds
- LALA land gives you access to the best NFT projects and DeFi projects in the industry to help raise funds to launch genuine and innovative projects.
LALA Land users and holders can play single-player and multiplayer games on the LALA land ecosystem. The ecosystem is directly connected to the players’ wallets, making instant reward payments. This is to say that winners get rewards directly delivered to their wallets.
All these games can be played from the BSC wallet browser and players can use the LALA tokens to participate (we’ll talk about that in a bit). The team is currently working on 2 single-player games. Soon the team will launch multiplayer online games which will allow multiple users to connect and play.
The LALA token supply is designed to offer a satisfactory value of rewards. Every individual involved with LALA tokens, NFT’s and other in-game rewards can earn rewards by:
- Registering and referring users to the LALA Land ecosystem
- Playing games
- Holding NFTs
- Participating in voting and governance
The Metaverse on LALA land is a next-generation triple-A sandbox experience built from the base of the LALA land foundation and ecosystem. By holding LALA tokens, you will get a chance to buy shares in the streets of Metaverse. That means you will be able to buy land, buildings and manage your NFTs properties.
In the LALA Land City, you will be able to find the NFT drops and rewards that are the competition. After beating the opponent, you will get to choose to either recruit him as your NFT or kill/destroy the NFT and no one will ever be able to obtain it again. If you are lucky enough you can manage to get something really special and rare. Every NFT will become harder to obtain overtime, there will be only a limited supply of NFTs. By that time, they will become even rarer as most of them will be captured.
The LALA Token
Name: LALA Land
Initial Supply: 300,000,000 LALA
Burn Mechanics: Tokens will be burnt for keeping the supply of 300M
As its name suggests, LALA Token is the native token on the LALA platform. It acts as a utility token on the platform. It is designed to play an essential role in the functionality of the ecosystem. It is built to give access to participants on the LALA platform and allow them to issue NFTs sell-play games and so a lot more on the platforms.
It will also act as a means to facilitate economic incentives to all LALA token holders, which is important in the contribution and maintenance of the LALA platform and the entire ecosystem.
Each member of the ecosystem, therefore, gets benefits based on the corresponding amount of LALA tokens they hold. If LALA token is absent, they are exempted from gaining such incentives and cannot participate in different activities on the Platform or provide services to the ecosystem. There would be many additional rewards to users based on the actual involvement and contribution to the entire ecosystem and the LALA platform.
With the LALA token, new projects can be promoted and sold on the LALA platform. For this to be possible, the new projects must meet the required standards in terms of projects quality, the authenticity of the project and team, and financial requirements. Also, the project purchases a certain amount of LALA token and locks 50% of it for 1 year and 50% burn. This amount would be determined by the voting decision of the community. If there is a breach in the contract by the project, the locked token would be distributed back to holders participating in the project.
Since the LALA token is a utility token, it would have the following use cases:
The LALA token would give token holders the right to vote on the different parameters and projects on the ecosystem. This is in a bid to achieve our ultimate goal of making the community the exclusive decision engine of the ecosystem. The functions of token holders would include voting rights for:
- Initiatives on the ecosystem
- Development of new functions
- Liquidity pool rewards distribution
- Gaming rules
- And other applications
To have the governing right token holders need to hold a certain amount of LALA tokens to gain such voting rights.
- NFT marketplace
The NFT marketplace is a complete suite that allows token holders to have access to all the functionalities of NFTs. With the LALA token, users can carry out
- NFT mining for gaming
- Staking of LALA token
- Participate in NFT auctions
- Trade NFTs
- Buy NFTs
- Decentralized Finance; DeFi
What makes LALA Land a Great project?
Blockchain has completely revolutionized the Financial industry; from DeFi applications to NFTs, to Cryptocurrencies. Other than the financial industry, Blockchain has impacted so many other industries. Here is why LALA the Land Blockchain project holds such great potential.
Today we are seeing NFTs making the headlines daily and creating overnight millionaires thus gaining more recognition. They are becoming the latest investment trend crowned by digital assets and gaming assets.
Similarly, DeFi has also taken the world of Cryptocurrency by storm; exhibiting extreme growth. Its value today exceeds $100 billion yet it continues to skyrocket. Even with this tremendous growth, DeFi remains an attractive trend with a lot of room for innovation.
The gaming Industry/Market
Trust and popularity in the old gaming model where only big influencers earnmoney are decreasing. The fairness, transparency, and much more opportunitiesare the signature features of Blockchain technology, it may provide an excellentsolution to the challenges of online gaming and with the NFTs, it is like leveragetrading. Blockchain itself is a large and rapidly growing industry. The future is the play2earn model where anybody can benefit from playing the game thanks to Blockchain. Blockchain allows for skill monetization through currencies and digital assets with open market dynamics.
Combining NFT, gaming, and DeFi
Game monetization models are exhausted and Blockchain technology together with NFTs and DeFi features will bring new wind, infinite possibilities, and much higher engagement to the digital world. There is a clear change from the free2play model where there are very low monetization possibilities.
Combining NFT, Gaming, and DeFi initiates great growth potential and a new horizon for cryptocurrency. Both NFT and DeFi create astonishing innovations with an enormous promise of democratization, new business models, and global markets with a global approach, which is all driven by the basic premise of decentralization. The integration of NFTs and DeFi opens up new horizons and potentially strong growth for Cryptocurrencies. The NFT movement is the resolving power of the DeFi movement, along with the ability to provide platforms and means of transactions for all tokens. Presently, most NFTs are more of digital artworks; the opportunities NFT pose to today’s community are unending and yet untapped to the fullest.