The Levana GameFi ecosystem has been separated from the DeFi offering by DailyCoin

The Levana GameFi ecosystem is separated from the DeFi offering
  • Due to the bear market, Levana is spinning off its GameFi division from its DeFi offering. Needs fundraisers or investor support to build GameFi and setup simultaneously.
  • The development team claims that the best way forward is with a standalone GameFi demo.

The team behind Levana, creators of the adventure game Levana Dragon Rider, held meetings with legal advisors and discussed the path forward due to the shift in the regulatory climate for cryptocurrencies.

They ran a poll on November 17, in which they discussed decoupling the GameFi sector rather than freezing it indefinitely.

Levana path ahead

Levana is having a crypto winter, and they’re separating their GameFi division from their DeFi offering.

The goal of their GameFi segment is to have a community-owned and decentralized GameFi platform, as well as other products.

These products include all NFTs in the locker, Luna from unstuck kings, all 8888 baby dragon NFTs, all NFTs, source code for all existing games, and 3.8 M UST.

Moreover, they also include the estimated amount of Luna that will be unlocked from Terra 2. In addition, they provide the intellectual property rights to the story, characters, images, book, and comic book.

During the update, Levana also announced plans for Token Governance, where Levan will work with the GameFi community to determine the best way to transfer 10 million LVN tokens to the Decentralized Autonomous Organization (DAO) that would represent the community.

How did Levana get to this point?

Levana was originally launched in August 2021 and its main objective was to build two leveraged projects on Terra at that time, Leveraged Index Tokens and Perps.

Over time, the team began to build on two tracks: leveraged DeFi products and GameFi products.

The team has released eight games on Terra, with over 10,000 monthly active players. However, Terra crashed, and Levana lost $7 million from Levana Treasury, including $4 million in LUNA/UST.

Source: Official Medium Post

Over time, Levana moved to Juno. It was here that the new NFT Dragon Riders instrument.

on the flip side

  • Levana is still unsure about the future of the GameFi division of their offering, as it remains unclear what is the best way to fund their project.

Why should you bother

The GameFi division could go into a community-led project or be purchased via traditional fundraising.

However, the future of Levana’s GameFi division remains unclear. The team is clearly trying to get ahead, despite the regulatory environment and crypto winter, and if someone is willing to pick this project up, they might push their bid forward.

However, if they fail to obtain the funding they need, the project could be held up indefinitely. It is clear that Levana will push the DeFi sector forward.

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