The London-based studio Kodoku announced their NFT project, THE PIT. This is a unique platform that allows gamers to experience a virtual world where NFTs compete against each other.
NfT gaming is growing rapidly. Its current value is over US$162billion and it is expected to grow to US$295billion worldwide in the next five years. NFT gaming is expected to surpass traditional gaming in the coming years, just as mobile gamers have overtaken traditional gaming.
On 30 November, the next-generation play-2-win NFT arena was launched. It will feature 5,000 NFT animals that will be released into THE PITCH to compete. You can separate the PIT creatures into Avians, Insectoids and Canines with their own unique characteristics.
Hewie Rattray, co-founder of Kodoku Studios, commented on THE PIT’s launch:
“We are thrilled to present our flagship project to NFT; THE PIT will provide a fun, immersive and completely new form of NFT gaming. There will be AI-controlled battle royales and planned wagering. NFT V NFT battles will also be featured. We have huge prizes up for grabs. We are so excited for THE PIT to drop on November 30th. Have fun, good luck!”
Launch date for THE PIT is November 30th. It will have a mint value of 0.075 Ethereum and be tradeable on OpenSea after launch. Before entering the pit, all NFTs must have been minted. Kodoku Studios stated that 50% of the revenue from the first mint, trading royalties and other income will be reinvested directly into the arena prize pools.
THE PIT will expand their current model with new game formats such as Race and Challenge. These will allow for direct Player vs. Player combat. Player (PvP), combat for pride, honor and ETH. NFT holders have the ability to initiate private, off-stream games with their own prize pools.
Pioneer Media, a Canadian listed investment company, has supported the project, as well as NFT Investments (a UK PLC that incubates and develops Non Fungible Tokens and Companies and Rights).
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.