NFTs
Video Game News Raises Forgotten Runes NFT Floor by 88%
Forgotten Runes Wizards Cult NFTs surge 88% after video game partnership.
The floor price for Forgotten Runes Wizard Cult NFTs has nearly doubled since Tuesday, on news that a new game will be released to use their Wizards.
The minimum price of Wizards has risen 88% in the last 24 hours to 1,089 ETH, according to Coingecko. The floor price is the lowest price at which an NFT from a set can be purchased.
The rally continues News what Bisonica metaverse gaming company, has partnered with Magic Machine, the company that created NFTs, to create a massively multiplayer online game (MMO) for NFT owners.
“We entered into this alliance with Magic Machine because we firmly believe that the world they have created with Forgotten Runes and its community of holders has a great opportunity to expand through gaming,” Jeldor, co-founder of Bisonic Inc., said in a press release. Members of the Bisonic team have worked on many different Triple-A game studio productions before, according to the release.
O Forgotten Runes Game will open up many more in-game items as NFTs, including an upcoming sale of public and private lands for the game world, scheduled for Q1 2022.
Virtual land has been such a sought-after commodity that a company called The package has been released to help digital property owners choose the best lots to buy in the most potential metaverses.
The upcoming game is described as “build to earn,” without going into detail about what that might mean, but the release says players will generate in-game stories and custom NFTs as they play.
The Cult of the Forgotten Rune Mages is a set of NFTs depicting wizards that function as profile pictures, but the project has always had a vision of a larger story behind the wizards.
The project uses a hybrid approach to their intellectual property, as we previously reported, where owners of a specific NFT can define that character’s backstory, but the set’s creators retain control over the overall wizarding world.
“These roles may overlap a bit, but this ebb and flow of creative energy between us and Cult is a new model for IP building that we believe will scale more efficiently and coherently,” Magic Machine co-founder Elf Trul told The Defiant in an email. “We have several examples in production that will show how this works in practice, such as a comic book, YouTube videos, and studio-produced animation.”
In October, Magic Machine announced a animation production deal with Titmousethe studio behind the Netflix series Big Mouth and The Venture Bros.