Next Earth plans to launch staking and various new updates

The blockchain-based metaverse replica of Earth, Next Earth, has announced that it is now in staking development, which follows the discovery phase of staking.

Next Earth expects to launch the staking project in June 2022. With this update, owners of any virtual real estate on the platform will be able to generate one UNIT per tile of land every month. Users can generate staking wallets by spending UNITs, which allows them to get an APR on their NXTT holdings.

According to Next Earth’s newly updated white paper, opportunities to acquire multipliers for unit generation from activities like purchasing new packs of skins or virtual land will be available.

Staking wallets will be offered in five levels, with bigger wallets costing more units. With these levels, users can attain a higher monthly APR if they want. The monthly APR varies depending on the size of the decentralized reward pool. To kick off staking, Next Earth has already put 1 million USD worth of NXTT into the decentralized reward pool.

The amount of staking wallets available each month will be finite and will be issued on a first-come, first-serve basis. The size of the reward pool will determine the number of staking wallets, and the number of tiles the user has will determine the maximum NXTT amount that can be staked.

Aside from the staking update, Next Earth is also working on a great vision for the metaverse’s future. As written on their detailed roadmap, they plan to offer access to their platform as a service in which third-party developers can build applications on top of the metaverse.

The team behind Next Earth also announced that their virtual lands would get a major update with new attributes, such as biomes, elevation, and climate. They’ll also introduce resources and minerals, allowing developers to truly connect their business to land tiles on the platform. Furthermore, Next Earth is also committed to becoming carbon neutral.

SOURCE: Next Earth