Cardano blockchain platform has entered the metaverse with the official launch of the pavia.io project, a virtual world that would rival projects like Decentraland and the Sandbox.

ADA, the native token of the Cardano blockchain, has experienced a price rally up to a $1.56 daily high on Monday. It has now declined to $1.48 at press time and currently seats at the number six spot of most valuable crypto by $ 46.57 billion market cap, a step ahead of rival metaverse token SOL’s $ 42.79 billion market cap.

According to an official announcement, Pavia has “100,000 Land parcels, each being minted as a unique NFT with coordinates.”

In the last 24 hours, bitcoin has been down by 2.38%, with a current price of $41,648.62 as of the time of writing this. Within 24 hours, bitcoin dropped to $41,430.30 low and $42,740.54 high. The trading volume of bitcoin in the last 24 hours is $686.40M. The current market capitalization of bitcoin is $788.52B. Currently, $18.93M bitcoins are in circulation.

Stats and Image from Coin Desk

Metaverse projects have land parcels that digital citizens can buy and deploy digital assets or NFTs. 60% of the land parcel on Pavia has been acquired from October through November 2021. The remaining parcels will be open for sale in the first quarter of 2022.

25% of Pavia’s in-game token, $PAVIA, has been airdropped. It currently sells at 0.18775 ADA. That is approximately 50 cents, according to Muesliswap, a Cardano-based exchange.