Legacy is the new game by Peter Molyneux, set to be released in 2022. The legendary developer has stated that Legacy is tailored for NFTs and crypto gaming. Even before its release, these NFTs are being sold at a premium price.
What kind of game is this? Legacy will be a type of economy or capitalism simulation. You buy your own plot of land, build a factory on it, and employ workers. With your self-designed product, you aim to become the market leader.
You can earn real money in the game through so-called crypto gaming. You receive LegacyCoin by competing with other players and continuously improving your product. LegacyCoin is a cryptocurrency that will ultimately belong to you.
Behind Legacy is the legendary developer Peter Molyneux with his own studio. Molyneux is known for games like Black & White, Fable, or Populous. He is also considered the founder of the “God Game” genre.
What is an NFT property? NFT stands for “Non-Fungible Token.” These digital items are unique due to a code and exist only once in the world. This makes them a form of collectible.
In Legacy, your properties are such NFTs. You buy them and truly own them, unlike in MMOs like World of Warcraft. There you only “borrow” the items you find. Because the data itself still belongs to the provider. We explain how NFTs work here:
NFTs more expensive than real houses
This is how expensive the property is: In the Gala Games store, where Legacy was presented, the first properties are already available for purchase – even though the game won’t be released until 2022. You can only buy with cryptocurrencies GALA, Ethereum, and BAT:
- The cheapest properties (“Common Deeds”) cost 0.804 Ethereum
- The most expensive property (“Heart of London Deed”) costs 222.892 Ethereum
- Both are already sold out. The cheapest property currently still available (“Enterprise Deed”) costs 1.69 Ethereum
The Heart of London is a unique property. One Ethereum is currently valued at (as of December 16, 2021) 3560.54 euros. The entire property costs 795,715.80 euros. For the same amount of money, you can get a home with over 200m² in many cities in Germany.
The cheapest, also already sold-out plot, costs 2862.67 euros when converted.
But why? Crypto gaming and NFTs are currently seen by some developers as the future of gaming. Even Ubisoft, as the first major studio, is already experimenting with the new technology and introducing NFT transactions in Ghost Recon. It seems that this has already paid off for Legacy.
Legacy has already earned over 48 million euros from NFT sales, when accounting for all current sales. And that, long before the game is even on the market. Whether it is worth it remains to be seen, as Molyneux himself is partially considered someone who promises too much and delivers too little (via Kotaku.com).
The value of NFTs is based on speculation, like almost all collector’s items. There is no guarantee that you can recoup your investment in the property while playing. The value of the corresponding cryptocurrency can also fluctuate greatly.
There has even been a larger fraud case involving the new NFTs:
People invest fortunes in virtual NFT apes – developer scams them out of 2.3 million €
