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DAR, the native token of the GameFi project Mines of Dalarnia, has been on a wild journey as of late amid the project’s transition to the Dar Open Network.
The project, which says it is “built by gamers, for gamers”, hosts various games on its platform, including role-playing games (RPGs) and card-based games, and aims to build an ecosystem where the more you play, the more you can be rewarded.
The token’s price rose from approximately $0.14 on December 30 to over $0.21 in a matter of hours, increasing by around 50%. It then went on a roller coaster ride, trading sideways between $0.2 to $0.16, according to data from CoinMarketCap.
Key Takeaways
- DAR token experienced a 50% price surge on December 30 before stabilizing between $0.16 and $0.20.
- The token, with a market cap of $105.68 million, ranks as the 441st largest cryptocurrency by market capitalization.
- Mines of Dalarnia is evolving into a Web3 ecosystem, transitioning its DAR token to the D token.
- The Dar Open Network introduces tools like DeAI for AI agent creation, Nexus for blockchain-based social interaction, and Portal for developer-friendly dApp modules.
- The $D token maintains an 800 million total supply, with 620.92 million circulating.
Mines of Dalarnia (DAR) Migrates to Dar Open Network (D)
The frenzy surrounding Mines of Dalarnia’s DAR token comes as the project is migrating to the Dar Open Network. In an official blog post, the project said the transition comes amid its evolution from a game-centric platform to a full-fledged Web3 ecosystem.
This includes Nexus, a blockchain-based social platform that integrates non-fungible tokens (NFTs) for cross-game rewards and other interactions.
As of January 1, 2025, DAR was trading at around $0.17, down by 10% over the past day, with a 24-hour trading volume of $45.57 million and a market cap of $105.68 million.
While the token has also lost more than 14% over the past month, it is up 9% over the past week and also up by 14% over the past year, indicating that the coin has been on an up-and-down experience since the start of 2024.
It is worth noting that DAR is down by more than 96% compared to its all-time high of $4.91 in November 2021. In terms of tokenomics, the token’s total supply stands at 800 million, with 620.92 million in circulating supply.
Other new tools and features include the D Token, which replaces the previous DAR token. The D Token serves as the network’s utility token, powering its applications, staking, governance, and ecosystem development.
The team said: “Over the past year, Dar Open Network has expanded beyond its initial game-focused roots to become a comprehensive Web3 ecosystem.
“This evolution calls for a reimagining of its foundational elements, including the token that powers the platform.”
Along with Nexus, The Dar Open Network introduces DeAI and Portal.
DeAI is a development framework for creating AI agents that connect with blockchains, enabling use in games, trading, and metaverse environments.
Finally, Portal offers plug-and-play modules for developers to simplify decentralized application (dApp) creation, including DID systems, NFT marketplaces, and analytics tools.
🌟 DAR Open Network 2024 Recap
From AI-driven games to cross-chain integrations, 2024 was a breakthrough year for #DarOpenNetwork. Explore our major milestones, the launch of D Token, and what lies ahead in decentralized AI and Web3 gaming!
📖 Read more: https://t.co/BH9KxP9rwo— DAR Open Network (@DarOpenNetwork) December 30, 2024
$DAR to $D Token Migration in Progress
Holders of $DAR tokens can now migrate to the new $D token through the official migration portal. The process is available for self-custodial wallets like MetaMask on Ethereum and BNB Smart Chain. The migration swaps $DAR for $D at a 1:1 ratio, burning the old tokens.
The migration portal opened on December 20, 2024, with a limited initial batch of $D tokens, followed by a second release on January 2, 2025.
The portal will remain open until December 20, 2025, during which users can migrate their $DAR tokens to the new $D tokens.
For those holding $DAR on centralized exchanges, migration may happen automatically if the exchange supports the transition, as seen with Binance. Crypto.com also announced it would support the transition. If not, users must transfer tokens to a self-custodial wallet to migrate.
The $D token introduces expanded functionality for the DAR Open Network, including governance, staking, and ecosystem growth incentives.
It keeps the same supply of 800 million tokens, split evenly between Ethereum and BNB Smart Chain. The tokenomics remain unchanged, aside from the community-driven reallocation between supported networks.
The Bottom Line
DAR has experienced a roller coaster journey, with its price fluctuating significantly amid the project’s transition to the Dar Open Network.
It remains to be seen whether the migration and the introduction of the $D token could make the project more attractive to investors.
