Altcoin Projects Can DeFi and NFT Ever Get a Real Use Case? DeFi and NFT industry gathered a lot of steam in 2020.While the total value locked in DeFi soared by 1928%, NFT sales soared, nearing a million dollars in volume.However, DeFi still lacks a real use case, and NFTs lack scalability and liquidity.By WhatsApp The 2020 DeFi and NFT boom established that the traditional crypto industry is ready to go through a significant change.Throughout the year, crypto users made the most out of DeFi’s liquidity mining by performing complex multi-platform strategies.
On the other side of the crypto-verse, some users showed a real appreciation for digital art and led to the increased popularity of NFT collectibles trading.
Thus, the overall landscape was expanding but in a fragmented way.
In addition to that, both DeFi and NFT industries were struggling to shake off their shortcomings.While liquidity mining proved to be extremely beneficial, the process itself is pretty cumbersome and limits the mass adoption.
Thus, even with a $14 billion total value locked in , DeFi still lacks a real use case.On the other hand, NFTs lack scalability, liquidity, and true supply.An Overlooked Opportunity
JD Salbego , the CEO, Founder, & Art Director of AnRKey X™, saw an opportunity in fusing industries like decentralized finance (DeFi), eSports, and NFTs.By combining the power of liquidity mining with eSports and NFTs, Salbego has created something entirely new that addresses the challenges of both industries.
Gamified Liquidity Mining
AnRKey X™ brings gamification and non-fungible tokens (NFT) to liquidity mining.It uses an innovative and proprietary Derived Base-Value NFT model.This NFT-based yield farming works with Automated Economic Logic Theory Models and forms the basis of the gamified liquidity mining.Because of the Derived Base-Value NFT model, the NFTs are highly flexible and liquid, creating vibrant scalable markets.
This model expands the potential of the DeFi gaming platform.
In addition, it facilitates a marketplace that provides greater staking possibilities.This effectively creates an opportunity to earn higher yields.As it gamifies the liquidity needs, it also provides users a safe and competitive environment.Fixing Scalability
The aim of the platform is to make liquidity mining fun.
In addition to that, it also makes NFTs more scalable by offering a suite of m$port™ gaming products.The endeavor started with Battle Wave 2323 ™, the first game on AnRKey X™.In the game, the user’s army competes to produce the highest yield from liquidity mining pools.The experience becomes even more interesting as it offers various yield boosts and rewards.
After the first m$ports game release, the AnRKey X™ team already has two new games in the release pipeline.
As a game studio, the team will continuously produce and release new games.Additionally, a community allocation fund ($ANRX arcade coin) and detailed APIs and SDKs will be made available to the community.By accessing this, the developers will be able to create more powerful m$ports™ game dAaps on the AnRKey X™ gDEX.
NFTs are the heart of the DeFi gaming ecosystem at AnRKey X™.Battle Wave 2323™ uses NFTs in two different ways.
Every game in the m$ports™ product line will have different attributes.
Sacred Relics
These are also known as Relic NFTs and are non-upgradable.When these are used for staking, they give liquidity provisioning tokens to the users.
The users can buy these NFTs with $ANRX arcade coins.These arcade coins can be received either as rewards or from other users.Thus, they create an unmatched arcade coin economy.
Prize Golden Chalices
These are awarded to winning Pool Armies and have the highest rarity and power.Moreover, users can upgrade it by purchasing Armaments.The Armaments can be purchased with $ANRX arcade coins.
These NFTs are rare.
Thus, they lead to: Reduction of the depreciation curve Restriction to the number of NFTs owned by users Maintenance of true economic supply and demand
Through gamification, AnRKey X™ promises to open avenues of mass adoption for DeFi and liquidity farming.On top of that, it will provide both DeFi and NFT industries with a real sustainable use case.Disclaimer
The information discussed by Altcoin Buzz is not financial advice.This is for educational and informational purposes only.Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours.We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor.
The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness.Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence.This interview, overview, or update article has been compensated for media cooperation and has been sponsored for by the interviewed or reviewed organization.Copyright Altcoin Buzz Pte Ltd.All rights reserved.TAGS.
