Grand Theft Crypto – Combining P2E and a Metaverse Experience in a Realistic DAO

Grand Theft Crypto (GTC) is an upcoming project in the metaverse universe aiming to exploit artificial intelligence (AI) to obtain success. Starting as a simplistic Play-to-Earn (P2E) game located in the Metaverse, GTC wishes to become a futuristic DAO.

The GTC founding team claims that the DAO concept will evolve together with enhancing the AI system performance. This review will provide more information about the new initiative, highlighting its primary features.

About Grand Theft Crypto

Grand Theft Crypto is an Ethereum-based initiative landing on the market with high ambitions. To build its success, the project team expects to leverage several features, as described in the following sections:

A dual approach

Being part of the Grand Theft Crypto ecosystem requires a citizen to decide between two gameplay styles. Each of them comes with a different type of experience:

  • Abide by the law in the “low risk” gameplay profile
  • Neglect the law under the “high risk” style.

The first approach allows you to create a more passive income stream. In addition, it is possible to access advanced property and liability insurance systems, providing for more secure gameplay. 

The developers have also thought of a way to let users profit from seized assets in the virtual economy of GTC. It is possible to use this system with limitations in P2P gameplay.

The second methodology simulates the behavior of those who are less strict in respecting the law. For example, it is possible to receive a short-term income stream, thanks to criminal activity, e.g., heists, hijacking, black market activity, and a lot more. The big con is that they can exercise their rights to property & liability insurance in a more limited way, making it a hazardous lifestyle. 

Those who operate in this mode have access to the black market of the GTC Metaverse and will enjoy no limits in P2P gameplay. 

The world of Encrypta

As for the Metaverse, this project established its digital world in the virtual city of Encrypta. The founders of Grand Theft Crypto explain that the inspiration for this place came from a Colombian harbor city known as Cartagena. A colorful town is known for its narco activities. 

All virtual landowners can decide to create their property in this dimension. The development team clarified that, in the Metaverse, there would be laws that will regulate the behavior, penalties, and rewards of all citizens. 

Owning land

Each parcel of Encrypta land is distributed as a non-fungible token, a.k.a NFT. Anyone with experience in the blockchain world knows that NFTs are gaining tremendous popularity these days.

To acquire a land parcel by minting, one can only use $ETH at an early project stage. Once it reaches a reasonable market cap, minting land parcels will only be feasible using GTC’s native token.

Speaking of the token, we will provide more information on $GTC in the dedicated section of our review.

After the ethereum based minting phase, each land parcel can be sold and purchased on P2P platforms such as OpenSea. Interestingly, it shall use half of the $ETH collected from minting operations to buy back and burn $GTC tokens. This operation aims to provide growth in the market quote of $GTC.

Another 20% of the ethereum collected during minting will be used by the team to buy land in Genesis City, known from Decentraland. Here the project’s founders will create their virtual headquarters (or, to use their terminology, the White House of Grand Theft Crypto).

The $GTC token

The founders of GTC promise that the project’s native token will allow access to numerous services in the Encrypta virtual world. In addition to these services, citizens will be able to open savings accounts that, in a way, function very similar to structures such as staking pools, a popular passive income system in the crypto world. Opening a virtual debit bank account within Encrypta also allows you to receive a 2%  spend-back to stimulate the economic activity of Encrypta City.

The $GTC token will have a maximum supply of 15 million samples. The presale phase will start on the 8th of august, and the token supply will be distributed among the following operations:

  • Boosting the system’s economy
  • Presale and Marketing operations
  • Building a staking pool
  • Building the Encrypta virtual world
  • Public token sale
  • Other functions (Work, Team, and Treasury).

Land Distribution

The project follows a specific distribution plan divided into three phases, as shown below:

Phase 1 – Public mint

The first phase involves a pre-sale operation of the NFTs and the activation of the minting mechanism through Ethereum.

Phase 2 – Secondary market

This second phase should reach its conclusion within the first quarter of the current year. In this period, we will create a secondary market using peer-to-peer platforms such as Digital Ocean. Once again, at this stage, land parcels will be minted using Ethereum.

Phase 3 – GTC market

The third phase, which should start by the third quarter of 2022, will see the launch of the GTC market. In other words, we will witness the birth of the in-game marketplace, and the system will work through the native token. All tokens used to mint land will be burned during this phase.

Final thoughts on this new initiative

The Grand Theft Crypto project is particularly ambitious. Combining a P2E system with the Metaverse context is undoubtedly a target that leverages some of the most exciting trends in the blockchain industry. Building a DAO based on these assumptions is the team’s primary goal.

Ethereum live price
price change

Artificial intelligence, which famously improves as data increases, should represent an essential booster of the initiative. While we wait to receive new details on Grand Theft Crypto, the team creates its online community on Telegram, Twitter, and Discord to keep in touch with users and the market.

Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site. Trading cryptocurrencies is a highly risky activity that can lead to major losses. You should consult your financial advisor before making any decision. Learn More

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