LOKA is the governance token for the League of Kingdoms metaverse game. An example of a GameFi token, LOKA can be used in-game to "breed" NFTs or buy items. It can also be staked, and it allows holders to vote in governance proposals. Launched on Binance Launchpad in January 2022, LOKA runs on the Ethereum blockchain. It can be traded on ERC-based DEXes such as Uniswap, as well as on large CEXes including Binance and Kucoin.
Briefly about League of Kingdoms Arena
The LOKA token can best be described as an attempt to take GameFi to the next level. Quality graphics, a rich gaming experience, and a fully developed metaverse are all key elements of the project. The team behind League of Kingdoms Arena is based in Seoul, South Korea. All core team members are fully doxxed, and between them they have a wealth of experience in both the tech and gaming industries.
LOKA is a governance token in the metaverse game called League of Kingdoms.CryptoLists.com
League of Kingdoms Arena is a mobile game, available on both iOS and Android. There are four separate elements to the game: Build, Guild (Alliance), Battle, and Farm & Hunt. These all go hand in hand. For example, players need resources (gathered through Farm & Hunt) to level up their kingdom in Build mode. A stronger kingdom has more chance of success in Battle mode. Joining Guilds allows players to enjoy greater rewards and resources, as well as unlocking exclusive quests. While the game is free to play, the LOKA token allows players to buy items and NFTs, creating a stronger kingdom.
Utility of League of Kingdoms Arena?
The main use case of the LOKA token is within the League of Kingdoms Arena game. Firstly, it can be used to mint (in game terms, "breed") Drago NFTs, a key game element. These can be used for hunting, farming, PvP fighting, and more. Secondly, it is the in-game currency used to buy items in the game shop. Thirdly, it is designed as a governance token, allowing holders to participate in voting proposals. Finally, LOKA can be staked for passive income.
League of Kingdoms Arena Price detailsERC20 Contract address: 0x61e90a50137e1f645c9ef4a0d3a4f01477738406
›› Details & Tokenomics
Advantages at League of Kingdoms Arena+ Loka got a respected team with proven track record.
+ Support from big names in crypto, including Binance.
+ Original idea and detailed game world.
+ In-game economics designed to be long-term sustainable.
Disadvantages- Regular LOKA token unlocks over a 5-year period may cause dumps.
- Extremely long-term project that may take time to grow.
- P2E games have a history of being hard to sustain.
- Lots of competition from other GameFi projects.
Costs▪ Rated at 8/10
There is no tax for buying or selling the LOKA token. However, small fees are attached to NFT and marketplace purchases. These generally range from 1 - 5%. As it runs on the Ethereum blockchain, which is subject to very high gas fees, it is generally cheaper to trade the LOKA token on CEXes such as Binance or Kucoin than on DEXes.
Reputation and Buzz▪ Reputation rated at 8/10
▪ Buzz rated at 9/10
The LOKA token was launched with a large amount of hype. Binance Launchpad is generally regarded as the gold standard of launchpads, so LOKA attracted a lot of attention from the beginning. In addition, Binance Labs - the venture capital part of Binance - invested in LOKA. As well as the Binance connection, LOKA raised over $3M from some of the biggest VCs in the crypto space, and has support from renowned companies such as OpenSea and Sandbox. It has a very active presence on social media, routinely running AMAs, Twitter Spaces discussions, and similar events to keep the community engaged.
How can I start playing League of Kingdoms Arena?
League of Kingdoms Arena is a mobile game and can be downloaded from the App Store or Google Play. It is free to play. If you prefer to play on a computer, you will first have to download a mobile emulator.
Do I need to buy the LOKA token to play the game?
No. The game is fundamentally free to play. However, in-game purchases and NFTs require the LOKA token. You can play without these, but the experience will not be as complete, and you may struggle to earn money to continue progressing through the game.
How does the play to earn element of the game work?
As you play, you can earn the LOKA token through winning quests and challenges. These can either be used to buy more in-game resources or transferred to an exchange and sold for profit.
Does LOKA have a max supply?
Yes, the LOKA token has a max supply of 500,000,000. At launch, over 80% of these tokens were locked, with a vesting schedule spread out over a period of five years.