December 6, 2022
By Murtuza Merchant
In response to the effects of FTX’s collapse, Star Atlas NFTs are entering the market at a sharp discount. Star Atlas’ CEO, Michael Wagner, informed followers via a statement on Twitter that a sizable portion of the company’s short-term cash was invested in FTX.
As a result, Star Atlas has a runway that has been cut in half, going from years to perhaps a few months. Wagner’s plan to raise money, therefore, appears to include selling Star Atlas NFTs.
NFT Ships are Sold by Star Atlas to Weather FTX
The Titan Sale will serve as the opening event for the NFT sales, which will take place over several months.
There are three ships available, one Titan for every faction. To be more specific, the sale begins with an 80% discount and drops by 10% each week.
Titans are typical $5 million in cost.
The Titan is now $1 million cheaper to acquire, which is a significant saving! In the week of November 21st, the Titan sale will start.
The Special Ship Sale, for ships that haven’t sold successfully, will be the second sale that takes place.
This is a chance for Star Atlas to reorganize while rewarding fans. The declining discount of 80% remains the same. Also starting the week of November 21st is this sale.
NFT Sales Are Set to Go On for Weeks
The Claim Stake Sale and the Land Claims Sale, which will take place at an undisclosed time in the coming weeks, will also offer Star Atlas NFTs.
Resources are taken from the planets that players visit through Claim Stakes. Meanwhile, players can dock cargo and receive in-game incentives via Land Claims for the Central Space Station.
Will these sales provide Star Atlas with the necessary breathing room to survive? Michael Wagner, the CEO of the business, declared, “I passionately believe that we will not fail.”
About the author
Murtuza Merchant is a senior journalist and an avid follower of blockchain, cryptos and NFTs.