Monday, March 4

Thetan Arena Launches NFT Rentals and Passes 20 Million Players | Bitcoin Portal

Thetan Arena has just passed the 20 million player mark, attracted by the play-to-earn mechanism that rewards the time and effort dedicated to the game with cryptocurrencies.

This represents a 300% growth in the number of players in about a month, as in December there were 5 million people on the platform.

The milestone was announced by exchange Binance in a Publication which details the recent gaming news that helps it to gain popularity in the blockchain gaming industry.

Launched in November, Thetan Arena already presented itself as a competitor to Axie Infinity for looking more “fun” for some players, as well as more accessible, since anyone can play without having to buy a non-fungible token (NFT), and still be able to earn cryptocurrencies.

Even so, those who own an NFT character can earn even more. By owning an NFT, the player can earn rewards in daily battles in addition to the ranking system, a benefit that free mode users are not entitled to.

Until then, one option for players who wanted an NFT but didn’t have the capital to buy it was to join guilds — the popular “schools” — and borrow another player’s NFT, giving them part of their rewards in return.

This model has now been formalized by Thetan Arena, which became the first Binance Smart Chain game to integrate NFT rentals into its platform.

How does Hero Rental work?

Released on January 22nd, the new feature is called Hero Rental and allows NFT holders and experienced players to rent unused heroes and earn rewards for doing so.

Interested players can borrow these NFTs by paying an amount of Thetan Coin (TGC), the game’s utility token, determined by the character’s owner. At the same time, the user keeps all the rewards generated by that hero, such as gTHC gained from daily battles, trophies and power points.

Thetan Arena NFTs rental page (Image: Marketplace Thetan Arena)

There are some ground rules for renting an NFT. While the holder is free to choose the rental price, it must be at least 50 THC.

This is around BRL 12, taking into account the current THC price of BRL 0.24 – the lowest price the coin has reached since its launch in November 2021, according to the CoinGecko.

The real owner of the NFT can also set a limit on how many battles the rented hero can be used, with a minimum of 50 matches and a maximum, the very limit of use that all characters have.

Negotiations are carried out in marketplace from Thetan Arena and from there the user can see how much THC he can earn during the rental time with a specific win rate, and calculate whether or not it is worth making the investment.

Os NFTs do Thetan Arena

The amount of cryptocurrency earned through Thetan Arena will be determined by match results and the characteristics of each NFT character — the rarer, the greater the reward.

There are currently three levels of heroes: “Common”, “Epic” and “Legendary”. If the character has skin — which can be purchased in the marketplace in the form of NFT — the reward can be even greater.

The game has at least two different modes: team mode and battle royale, which can be solo or duo.

In team mode, if you win a match you are rewarded with 6 gTHC, if you tie 2 gTHC, and if you lose, you get 1 gTHC. In battle royale, each placement has its fixed reward, with a maximum of 6 gTHC for whoever comes first.

As a way of controlling the distribution of rewards, the developers have set a “life span” on NFT characters and limited the number of battles they can be used in per day. At the same time, it is a way of controlling the supply of NFTs on the market.

To determine whether the purchase of NFT is advantageous or not, the user must evaluate whether the amount spent on the character will be offset by the amount of THC gained in the game through it.

It is also important to take into account the price of the coin. As previously mentioned, THC faces the worst price in its history this Friday (31), worth R$ 0.24. Its current price is 95% lower than its all-time high of R$5.54, reached at the end of November.