Play to Earn – Disrupting the NFT Gaming Industry – A DeFi Approach
26 August 2021 - 1:19AM
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The rise of DeFi powered NFT gaming has brought up new hope in
gamers of the world. The amalgam of NFTs and gaming has enabled
players to create an arsenal of rare collectible items that can be
used to play and to build their crypto portfolio. A new challenger
has arisen among several NFT gaming platforms that offer a unique
gamified experience for the crypto financial markets. CoinFantasy
is the world’s #1st multi-chain decentralised fantasy gaming
platform built for the financial market using NFTs. It is a
pool-based gaming platform that offers the players a chance to win
handsome rewards using their skills; you can read about it here.
CoinFantasy – A Disruptive Gaming Platform CoinFantasy is a unique
NFT gaming platform powered by DeFi that rewards players for
correctly predicting the outcomes of a set of tokens based on the
budget given to the users. Some of the elements of the ecosystem
are: Coin Launch: – It is a proof of concept to gamify Launchpads
(Initial Game Offering), in which users participate in a game to
get whitelisted for allocation & airdrops. NFTs: – Incentivise
repeat users by allowing them to mint limited edition NFTs &
sell them, in which the value of NFT is correlated with the
performance of the minter of NFT. Social Trading: – Consistent game
Participants would be allowed to enable the option for their
followers for a fee to subscribe to their Token sets. How does it
work? Game organisers enjoy triple rewards as they set up the game
pools, customise game rules & lock up 10% of the total value of
the pool. Organisers enjoy the following benefits: – 20% of the
game fee on successful game pools. – Staking rewards for locking up
tokens. – Access to credit using the locked up fund as collateral
to create different game pools. Game participants can join any game
pool by paying the entry fees collected into the game pool. After
the game pool is filled, it is live for four hours, where winners
are ranked live. CoinFantasy also offers instant settlements at the
end of each game using smart contracts. On the other hand, sponsors
indirectly participate in the platform by purchasing NFTs from the
participants and organisers according to the conditions set by the
sellers. This works similar to a royalty deal in which the seller
shares the prize money with holders of NFT. This brings in the
intrinsic value of the NFTs, where the NFT prize is correlated with
the sellers’ performance. CoinFantasy’s Early Access to the Game
According to its roadmap, CoinFantasy recently launched its early
access to the fantasy game on Polygon & Ethereum. Users can
participate free of cost and win exciting rewards. CoinFantasy
offers up to $10,000 worth of game pool prizes for users
participating in the game’s early access, giving its users and win
real cash rewards for participating in its free-to-play game. Apart
from that, CoinFantasy is also rewarding its users with the
following: airdrops of $100 worth of tokens for participants $125
for users who also create infographics and memes $150 for users who
also make videos about the game and post them on Twitter!
CoinFantasy has also overlaid a comprehensive guideline on how to
get acclimated with its all-new game. It also explains how to win
airdrops and participate in its upcoming prize pools! How is
CoinFantasy Disruptive? CoinFantasy is providing a DeFi powered
solution to the issues currently faced by the majority of fantasy
platforms. Despite the advancement, most fantasy solutions are
centralised due to concentrated centers of power. Most products
also now focus on trading simulations, and no one offers a gamified
experience for financial markets. Users also struggle with delayed
settlements and have no say in the outcome of the project.
CoinFantasy offers an easy and interactive solution to the problems
faced by fantasy gaming platforms. CoinFantasy offers: CoinFantasy
offers blockchain-enabled instant settlements using ERC20 smart
contracts, which also makes them immutable and transparent. Also,
CoinFantasy ensures decentralisation by distributing the governing
rights over to the community. The CoinFantasy NFT gaming platform
uses an innovative Game Theory that rewards good actors and
punishes bad actors. CoinFantasy is an entirely community-driven
platform that distributes control of the development process,
resources, and decisions to groups in the community. Game
organisers and participants can mint NFTs and sell them to sponsors
using CoinFantasy Launchpad. CoinFantasy also offers a Smart Credit
System that utilises reputation and tracks records as collateral to
provide users with quick credit lines to incentivise participation
in the platform. CoinFantasy is a disruptive fantasy NFT gaming
platform that utilises the power of Decentralised Finance to
rectify the inefficiencies in the fantasy gaming industry. Also, it
is the only platform that gamifies crypto financial markets such as
stocks, derivatives, prediction events, etc. Find out more details
about the game on https://coinfantasy.io/. Image
by Free-Photos from Pixabay
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