Pteria DAO: How NFT Can Change The Gaming Industry

By November 10, 2020Ethereum
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Pteria DAO
Pteria DAO

Nassau, Bahamas, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Pteria is a DAO launched on the market only a few weeks ago. Built on the Ethereum blockchain using Aragon for managing its governance, Pteria has a homonym ERC20 token, precisely called PTERIA with capital letters.

The innovative aspect of this DAO is its relationship with gaming and the NFT world.

In fact, part of these PTERIA tokens has been entrusted to a first gaming project called Wallem.

Wallem is a Swiss mobile game application developed for iOS and Android which is similar to the world-famous Pokemon Go but to catch tokens, cryptos and other non-crypto products such as iPhones, Amazon gift cards, Armani Exchange watches, and so on.

Wallem, in fact, has closed very interesting deals with important brands to give users the chance to catch all these products while they play.

Also, because with the lockdown a few countries can’t play, the team decided to organize a “stay at home event” to play in any case.

Pteria and the NFTs

When the user downloads the app, he/she has an avatar. Each of the game’s avatars has their own corresponding NFT, so those who buy the non-fungible token will be entitled to 10% of all the rewards the player collects in the app, plus 100% of the PTERIA spent in the app to buy the corresponding avatar.

This is also why the first 2 NFTs of Pteria representing the popular Youtuber PewDiePie have been sold on OpenSea for about 60 ETH each. In total there will be 6 PewDiePie NFTs only.

This is a new era for NFT and rewards related to a gaming application, that can monetize even without directly playing the game.

On OpenSea there will be other NFTs too, so not only the PewDiePie one, such as Pug Dog and many more. Every NFT can be bought using ETH or the Maker DAO’s stablecoin DAI or USDC.

Every NFT has its own rule but the concept is that if a user buys it he/she will earn from the sale of the skins in the Wallem app.

For example, in only a few days, the first owner of the PewDiePie NFT received more than 1000$.

The PewDiePie involvement in Wallem

Wallem has now more than 30k downloads also thanks to the 107 million subscribers of PewDiePie, who is promoting the game also with his wife Marzia, who published a post on her Instagram account too.

In fact, Marzia’s brother Davide Bisognin is Wallem's founder so the whole family is involved in the project.

PTERIA for governance and staking

As explained above, PTERIA is also a governance token, so it can be used to vote in the DAO.

Anyone can vote even having at least 100 PTE in their wallet: 1 token is equivalent to 1 vote.

Also, in order to increase the number of tokens, a user can decide to stake PTERIA. Staking tokens means blocking tokens for a certain period of time in order to receive rewards.

These rewards are achieved by users after they have staked their tokens and have also participated in the voting.

By doing so, users will receive a 25% reward in PTE tokens. There will be votes every 15 days (era). If the user does not vote, the reward will not be unlocked for that vote.

PTERIA tokens to be burned

Another interesting aspect of this project is that the DAO will burn PTERIA tokens so the total supply of 21 mln tokens will decrease.

The tokens to be burned are the PTERIA used in the Wallem app to join Wallem events.

Pteria has already burned 31257 PTERIA (157.000 $) tokens a few days ago.

The Pteria community

In only about 10 days of the project, Pteria has grown an important community with more than 1000 users in their Telegram chat and it has been listed on CoinMarketCap as the 10th most traded token on the Uniswap DEX.

Media details
Name: Emily Lopetegui
Company: Pteria DAO


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