Star Atlas NFTs are coming to the market at a steep reduction in response to the fallout of FTX’s implosion. Michael Wagner, the CEO of Star Atlas, released a statement via Twitter to tell fans that a significant amount of the company’s short-term capital was in FTX. That gives Star Atlas a runway reduced by half, from years to what may be a few months. Therefore, the sale of Star Atlas NFTs appears to be one way that Wagner wants to raise funds.
Star Atlas Sells NFT Ships to Weather FTX
The NFT sales are happening over a few months and will be kicked off by the Titan Sale. Three ships are available, with one Titan for each faction. To clarify, the sale starts with an 80% discount that reduces by 10% every week. The standard price of a Titan is $5 million. That makes the discounted Titan $1 million to own – a huge saving! The Titan sale begins the week of November 21st.
The second sale that will happen is the Special Ship Sale, for ships that haven’t sold well. This is an opportunity for Star Atlas to clean house while giving fans a good deal. The 80% falling discount is the same. This sale is also beginning the week of November 21st.
NFT Sales Will Continue For Weeks
Star Atlas NFTs are also available via the Claim Stake Sale and the Land Claims Sale, to come at an unspecified date in the next few weeks. Claim Stakes extract resources from planets that players visit. Meanwhile, Land Claims for the Central Space Station enable players to dock cargo and offer in-game bonuses.
Will these sales help give Star Atlas the runway it needs to survive? In the words of the company’s CEO, Michael Wagner, “I vehemently believe that we will not fail.”