February 9th, 2022
The Light Nite team is moving Light Nite's play to earn ecosystem to Solana. Starting March 2022, your favourite blockchain battle royale, deathmatch multiplayer, and play2earn NFT game will run on the world's fastest blockchain network.
This move will significantly change Light Nite's non-fungible token (NFT) infrastructure, reward systems, & art design. One of the shift's significant changes will be the future play2earn reward features and new Light Nite NFT rarity system, style & functionalities such as options for lending or staking.
Solana's NFT minting, and standard protocol is highly customizable. Consequently, Solana-based Light Nite NFTs will significantly differ from the existing Liquid assets. First, they will have a variety of combinations, frequency, and rarity.
What is NFT rarity?
Rarity is an essential characteristic of an NFT. This is because non-fungible tokens are cryptographically secured data representing the value of unique or rare items on blockchain ledgers. The main difference between a Light Nite NFT and BTC is that the non-fungible token is indivisible.
You cannot subdivide it into small fractions forms such as our previous liquid network NFTs without loss of value. Current NFTs on the liquid network are not fungible, and you can swap one for the other without any loss of value.
For this reason, non-fungible token technology is synonymous with the creative and gaming industry. These two sectors sell rare items to collectors. non-fungible token technology provides immutable proof that an item is unique and is irreplaceable with another. Additionally to this, we are focused on providing value to our users, hence smart contracts based NFT infrastructure that will allow in the future staking & lending is the way we have decided to go.
We can say that an NFT gives you sole rights and ownership to a digital or physical item. Therefore, when you purchase an NFT, you retain the underlying item's reproduction and copyrights rights, just like you would with a genuine Monet or Van Gogh.
Any person can print out Van Gogh's dreamy Starry Night. That said, the original Starry Night only has one owner. Consequently, they can trade the original painting for $100 million or more if they wish because there is only one Starry Night. On top of that, a genuine Monet has a provenance certificate.
In like manner, Light Nite Solana NFTs will accrue more utility due to blockchain provenance of differentiation in rarity. Rarity is a term that describes the value that an NFT accrues from its diverse traits.
Rarity was first observed in Crypto-Punks. This collection of 10,000 NFTs has five types of 'Punks.' There are, for instance, only nine 'Alien' punks, giving this NFT a higher rarity than the 'Male' punk with 6039 different NFTs.
An NFT could have other traits that give it higher levels of rarity. To illustrate this point, some CryptoPunks attributes such as 'Choker' or 'Beanie' are so rare that only Punk numbers 48 and 44 feature them.
Consequently, Punk number 44 can sell for as high as 500ETH. Alien Punks sell for 23K ETH, while low rarity 'Male; punks sell for an average of 85 ETH.
How do you determine NFT rarity?
If you are into complex math, you can scour NFT databases for stats on an NFT's rarest traits and average trait rarity attributes. You would have to repeat this process over and over because NFT collections have diverse rarity traits.
Rarity Tools, a popular NFT Rarity score site, describes an NFT rarity score as the sum of its trait’s final score. Consequently, Rarity Tools leverages the formula below to assess an NFT's rarity score.
Rarity Score for a Trait Value = 1 / ([Number of Items with that Trait Value] / [Total Number of Items in Collection])
An easy method of assessing an NFT's rarity score is the use of specialized tools such as Rarity Tools, Rarity Sniper, or HowRare.is. Light Nite's NFTs will have a diverse rarity score to enhance their market's demand and supply metrics and will be available in some of the mentioned specialized tools.
A rare Light Nite NFT will have higher demand and sell more in the NFT marketplace. Creating impressive rarity traits will also give the Light Nite team a tremendous challenge and make their work more rewarding.
Light Nite history
New entrants into the booming blockchain play to earn scene might find it difficult to believe that two years ago, #stackingsats was a full-time job. Then, to stack your sats, you had to have the aptitude of a day trader.
Automate your bitcoin purchases or earn some BTC by spending lots of sats on plug and play mining services such as Coinmine or Honeyminer. Alternatively, you could stack some sats by running a node on the Bitcoin Lightning Network or spending your BTC on crypto cashback apps.
None of these options is as fun and easy as stacking sats on the rising blockchain play to earn (P2E) ecosystem. So spend your day gaming and earn some BTC from the crypto-powered Lightnite will still be possible on Light Nite Legacy. Light Nite Legacy will be the bitcoin legacy version of the game where all that you need to do is win a multiplayer shooter round by shooting down your opponents in a deathmatch or battle royale. Shoot them all, earn your sats and send them to your Lightning Network wallet.
More so, on Light Nite Legacy you would also be able to trade Lightnite non-fungible tokens (NFTs). Players can barter their Light Nite skins NFT on the Liquid Network-powered marketplace. The marketplace has legendary, rare, premium, common tokenized character skins, hoverboards, wearables, and weapons.
Light Nite leveraged Liquid, a Bitcoin sidechain, for its in-game assets tokenization needs. Liquid runs parallel to the Bitcoin blockchain. It is a two-way peg that supports the free flow of bitcoin between it and the Bitcoin blockchain.
Why Light Nite is moving to Solana?
Solana is currently the fastest-growing blockchain network. According to the Bank of America analysts, it is the Visa network equivalent for the digital asset ecosystem. Solana is the fastest blockchain network. It can attain network speeds of 65,000 transactions per second.
The Visa network has a maximum settlement speed of 24,000 transactions per second. Ethereum and Bitcoin have speeds of 12tps and 5tps, respectively. Solana is now processing 2,400 transactions each second on its network and is all set to scale alongside ecosystem maturity.
Solana had an official launch of its mainnet in 2020, and developers have flowed in masse to its scalable shores. The ultra-fast network has settled over 50 billion transactions worth over $11 billion. Solana has also supported the minting of 5.7 million NFTs.
Data shows that Ethereum's slow and expensive NFT processes are losing ground to Solana. Ethereum's high gas fees have had a significant negative effect on its NFT market share, dropping it to 80% of its 95% domination high in early 2021.
Most NFT activity has moved to Solana as the NFT sector becomes the fastest-growing market in the crypto ecosystem. In addition, the Solana Proof of History consensus mechanism is fast and cheap and can support an NFT transaction cost of $0.00025.
Unlike the Bitcoin Liquid Sidechain and Ethereum networks, Solana is optimized for micropayments in NFTs, DeFi, gaming, and the upcoming Web 3.0 era.
Light Nite X.
Light Nite is launching on Solana and rebranded as Light Nite X. Consequently, the older game version will be referred to as Light Nite Legacy. The Light Nite team will allocate sufficient support and development resources to Light Nite Legacy for six months, and then X resources depending of the support of the Legacy version.
The team will ensure that Light Nite Legacy players enjoy new features, fresh maps, bug fixing, and a juicy Season Pass system during this period. Afterwards, the team will maintain the Light Nite Legacy game for our bitcoin diehards.
The first significant change will be the launch of an NFT collection on Solana in March. For our existing NFT holders, we are providing special whitelisting access with better minting price conditions & guaranteed allocation. 250 whitelist spots are available. If you are an existing Light Nite NFT holder, you can apply here to get whitelisted.
Furthermore, in the next couple of months the launch of $LNC (Light Nite Coin). NFT holders will be able to enjoy a whitelisting and/or airdrop of $LNC based on their light Nite holding rank. This rank will be determined by the amount of NFT held. $LNC will support Light Nite's play to earn reward system. In addition to that, the team will redesign the Light Nite NFT collection. It will have a unique algorithmic combination that supports its new rarity system, smart contracts for GameFi features such as staking & lending.
Light Nite will be a free-to-play & play-to-earn game. However, its battle pass owners will earn more $LNC, weapons, emotes & more in-game content.
On release, Light Nite will have a 5050 genesis NFT collection. We will announce soon more details about when & how to participate in the NFT minting event. The team will develop more NFTs as time goes by, forging relationships and collaborations with other artists in the space and launching them in the format of a new season pass full of new weapons, characters, new maps, emotes, pets and additional content.
Character Customization with NFTs
Unfortunately, Light Nite players will no longer equip their NFTs with accessories as was previously possible on the Liquid-based network due to interoperability challenges. The reason is Solana-based NFTs will have a different rarity scale and combination of accessories.
In the beginning, character customization will be a bit limited compared to the current version. That said, the game will recover full functionality.
The Light Nite team will not force the Light Nite Legacy community to migrate to the new version of Light Nite. Instead, they will reasonably maintain the current version of Light Nite Legacy and, in addition, provide different options & advantages to swapping to Solana-based Light Nite.
They will establish an interoperability mechanism between Lightnite Legacy & Light Nite that will have many benefits, as shown below.
- Light Nite Legacy players can swap their bitcoin from their Elixir Wallet to $LNC to join the new game & vice-versa. By the time the $LNC is out, we will provide a bridge using Elixir DeFi Hub, a new platform that will come out within the following months.
- Light Nite Legacy players won’t be able to natively migrate their Light Nite Legacy NFTs since they would work & look completely different. Light Nite Legacy gamers can sell their NFTs and swap the bitcoin from their Elixir Wallet to $LNC. They can then buy the new Solana NFTs (S-NFTs).
- Conversely, Light Nite Legacy gamers can sell their Solana NFTs, swap the $LNC from their wallet to bitcoin, and buy the liquid network NFTs.
- The team will give Light Nite Legacy Liquid-NFTs (L-NFTs) owners the option of burning their store or marketplace bought L-NFTs and getting the corresponding amount paid in USD, SATS, $LNC. The exchange rates of the swap day will determine the rates & dates of this process through the swapping tool activation feature that will come out on the following days in the elixir marketplace.
- Users may keep $LNC for staking/trading. With this mechanism, Light Nite Legacy players can leverage the option of swapping assets that may have a low appreciation for assets with much higher appreciation values.
Q: What will happen with our Liquid BTC NFTs now?
A: Liquid-NFTs (L-NFTs hereinafter) will be accessible in the Light Nite Legacy version of the game. This game version will have ongoing development, parallel to the new version of Light Nite while in beta mode.
Afterwards, the team will maintain Light Nite Legacy proportionally to its profits. The team will also support the Elixir Marketplace. Additionally, those NFTs that were originally purchased either in the shop or in the marketplace will be eligible for redemption in $LNC at the same price at which they were purchased.
Q: What will happen to the common and premium NFTs we earned by playing (not purchased)?
A: Same as before, Common, Premium & Rare Liquid-NFTs will be an essential part of the Light Nite Legacy game. You can migrate your NFTs from Liquid to Solana by selling them in the Elixir Marketplace to swap BTC for $LNC and then buy Light Nite NFTs with $LNC.
Q: What is the US$ value of the token you are paying us for our NFTs?
A: As previously mentioned, we will only exchange L-NFT to $LNC in cases where players bought L-NFTs. The swap will occur at the same price that buyers paid for them. L-NFTs that were won in-game or through give-away events will still be playable in the legacy version of the game or tradeable in the marketplace but not re-purchased.
Q: What token are you paying us for our NFTs?
A: We will be offering $LNC, the native token of the new version of Light Nite, in exchange for those L-NFTs eligible for a swap as described above. The team will calculate the corresponding $LNC at the private round token sale price & deadline according to the new swapping activation tool coming in the elixir marketplace.
Q: Can we buy further in the NFT Minting event?
A: We will lock 250 whitelisted spots for former owners of purchased NFTs. An NFT whitelist will be created, and new NFTs will be offered on a "first come, first served" basis to complete the reserved batch. Apply to this form to get whitelisted.
Q: Also, questions about the switch would be the rarity of them based upon the ones we already own. How are we guaranteed value if some are rarer than others?
A: NFT switching will be based on an exchange L-NFT <> $LTC, not L-NFT <> S-NFT, so the higher value of rare L-NFTs will simply be paid higher due to their original higher purchase price.
The rarity of new S-NFTs will be based on layer probability. Further info here