Cardalonia, a medieval-themed metaverse project built on the Cardano blockchain, has announced the launch of their Lonia Token. The launch follows a successful pre-seed funding round that saw the Estonia-based Cardano metaverse startup raise $420,000.
Cardalonia Begins $LONIA Sale
On Wednesday, April 20, Cardanlonia announced that the sale of the $LONIA tokens had gone live, with the price for each Lonia token set at 14 Lonia tokens for 1 ADA.
According to the project’s tokenomics, the LONIA token has a total supply of 100 Million, of which 50% is for the public, 20% for staking, 10% for the team, 8.5% for liquidity and more.
Cardalonia notes that the 50 million LONIA sale will be in three rounds for individual investors. Investors can purchase a minimum of 500 ADA (7,000 LONIA) and a maximum of 20,000 ADA (280,000 $LONIA).
Cardalonia: Another Metaverse Project Building on Cardano
Cardalonia is one of several metaverse projects being built on the Cardano blockchain. It will be a fully functional DAO where decisions will be made by $LONIA token holders who would vote and decide on the future of Cardalonia.
In Cardalonia, users can earn, create, socialize, play, trade, and so much more based on the popular P2E concept. Based on the shared roadmap, the Cardalonia metaverse is scheduled to launch by Q4 of 2022.
On The Flipside
- Although there are significant developments, Cardano (ADA) is considered stuck in an unimpressive price range, trading under $1.
The seven days price chart of Cardano (ADA). Source: Tradingview
Why You Should Care
Although Cardano was criticized for being slow in incorporating smart contracts, projects are beginning to flurry into one of the most functional blockchains.