Project Red Whitepaper and Business Share Sale

Project Red, a GTA-style, web3 enabled, MMO, released their whitepaper recently, outlining their plans for building and growing their virtual world. And one of the first steps for kicking their game economy into gear involves an upcoming sale for shares of Mafia Business Buildings!

Project Red continues to build on their plans for a mafia-themed, virtual world. Their new whitepaper outlines the team’s plans for growing Project Red into a larger virtual world with dozens of activities — from the FPS Blood Arena to car racing to poker playing to pimp my car contests to owning a business. Project Red hopes to provide an activity for all different kinds of players. You can read up more on their official whitepaper.

But speaking of business ownership, on Friday, April 7th, the shares for the first 15 businesses in Project Red go up for sale!

Business Building Sale

The sale for Business Building shares will be held at https://xoxno.com/ on April 7th. There is a limited supply of 1500 available. Price is $100 in EGLD tokens. The first mint opportunity goes to those with Legendary Gangster status on their Discord and those with a DAO vote. This pre-sale opens at 5:45pm UTC, with a Holders sale opening at 6pm UTC. There is a maximum of 5 purchases per transaction.

Purchasing these provides the owner with a percentage stake in one of the 15 business available. Each NFT equates to a 1% ownership share in the corresponding business. For this sale, 15 different businesses will be up for grabs, including a casino, a car dealership, and a real estate office. Each Business will have 100 shares, for a total of 1500 NFTs available during the mint.

Owners earn a percentage of the earnings from their business, with some of the profits marked for use in the larger game p2e system, and some to the developers. However, there will also be a DAO voting system around business funding, allowing owners to change how their profits are spent. Do you take it all in cash, or do you reinvest into the business?

Business Building shares will be tradeable. Players need to own a Project Red NFT to participate in this sale.

What is Project Red?

Project Red is a open world, 3D social hub built in the Unreal Engine with several sub-games, including the FPS, Blood Arena. Project Red is a mafia-themed game, with plans for player ownership of land and in-game businesses, as well as competition between groups for resources and bragging rights.

The game runs on the MultiversX blockchain (formerly known as Elrond). So players will need an appropriate wallet and the ELGD native token for purchases. Players can pick up Elrond Mafia NFTs at https://xoxno.com/collection/MAFIA-bd0abc. The current alpha also features free to play weekends. But holders of Elrond Mafia NFTs can play at any time and earn rewards in various leaderboards and contests.

The final game will free to play, but owning a Mobster character NFT provides entrance to a special headquarters club, opportunities to bet on different events, access to a battle pass system with rewards, and other various perks and bonuses. Players can already stake their Mobsters for whitelists and airdrops.

Project Red is only available on the PC. Players can create custom game avatars based on the traits of the NFTs they own. They can also earn EGLD tokens by playing. The team plans to continue adding new maps, weapons, and game modes over the coming months. Project Red is just one facet of a larger ecosystem being built around the Elrond Mafia.

To learn more about Elrond Mafia and Project Red, visit their website, follow them on Twitter, and join their Discord server.