DeFi in NFT Gaming

avatar


Crypto-Spore Cover Image.png

Hey everyone,

I've noticed lately that some popular NFT games have decided to incorporate some DeFi elements. This is a great thing because it creates new opportunities for generating passive income.

Let's define a couple key terms. NFT stands for Non-Fungible Token. You can think of it like a digital collectible which is verified as authentic through blockchain technology. In the realm of games you can have your in-game assets such as an avatar, weapons, characters, etc... held in your own blockchain wallet as NFTs. This provides true ownership of that asset.

DeFi is short for Decentralized Finance. The term is used fairly loosely as some DeFi projects are more decentralized than others. Often DeFi will involve granting temporary use of your blockchain assets (cryptocurrency and NFTs) to a third party and getting rewards in return. Often these rewards come in the form of some sort of reward token that be sold or they can usually also be staked to compound your earnings.

The super popular NFT game with DeFi right now is R-Planet. The in-game currency is called Aether and you use it to buy basic elements and then combine them to create higher level elements. The actual game mechanics aren't really important for this discussion. The relevant part is that you can only earn Aether through staking blockchain assets, which include NFTs from their own collection as well as other approved NFT collections. This provides a passive income of the game currency which can be used in the game or sold on an exchange (most often a combination of both.)

rplanet.io


Alien World is also very popular because it can be played for free. You can bootstrap the entire experience and I highly recommend it. Currently it is a very simple game in which you select a land plot and a set of tools and then mine for Trillium (TLM), their in-game currency that can be used in the game and/or sold on an exchange. In the near future Alien Worlds is launching what they call Binance Planet Missions, which essentially boil down to staking your TLM and certain Alien Worlds NFTs for a set lock-in period, at the end of which you get back your TLM plus reward NFTs and potentially more TLM or other cryptocurrencies/tokens.

There are ideas floating around that TLM paired with BNB staked together may increase the chances of getting a higher rarity reward NFT at the end of the lock-in period. Also ideas surrounding the ability to utilize other approved collections of NFTs in their game have been discussed. One hypothetical example was using a Garbage Pail Kids NFT as your Avatar in Alien Worlds, and different cards would give different benefits. They are also introducing a Mana system at some point in the future and it seems reasonable to speculate that NFTs may be used to increase your total Mana pool and to increase the rate of Mana regeneration.

play.alienworlds.io


Splinterlands is also getting in on the DeFi, this time in the form of Governance Tokens. They're calling them Splintershards (SPS) and token holders will be able to participate in certain decisions made in the game. From a DeFi perspective we can recognize some of the common patterns. SPS will be airdropped daily to stakeholders in the game. Holding assets in the game will grant you Airdrop Points. The more rare or valuable the asset, the more Airdrop Points it will be worth.

This will create a passive income because all you have to do is own Splinterlands assets in a way that the game can verify. You will be able to sell your SPS on an exchange or stake it back into the game to compound your rewards. The tokenomics favors early adopters, because the daily pool of SPS for airdrops will decrease over time. Not only that, but the number of Airdrop Points claiming their portion of the pool will naturally increase, so unless you continue to accumulate enough new assets to keep up, your stake in the pool will decrease.

The staking mechanism is going to be really fun. You'll have the ability to stake SPS on a specific player! The amount of rewards you get for that will depend on how well that player performs in the game. Some innovative stuff going on!

Splinterlands.com


Standard disclaimer: Please don't take any of what I say here or elsewhere as financial advice. Think of my content as your eccentric buddy's crazy opinions. Some of the links here may contain a referral code. In those cases I will usually receive some sort of benefit if you use these links to sign up to any game or service. This creates no additional expense for you and often there's even a benefit for you compared to not using a referral link. Using these links is an easy way to say thanks if you find the information I've shared valuable.

aqua-page-divider.png

Battle Zone

While attempting to complete a Fire Daily Quest, I came across the battle conditions of Equal Opportunity and Only Odds with only 18 mana to build my team. Click the link to check out the battle and see how I choose to handle the situation! - @jeremycrow

https://splinterlands.com?p=battle&id=cbb08b8247767e29dcc172e1260fc45cf2f4992b

What I'm Currently Playing

This changes over time. I'll only share links to games that I'm actively playing the most at the time of posting.

  • Splinterlands: A Collectable Trading Card Game running on the Hive blockchain with lots of interoperability with other blockchains. Assets within the game are NFTs. Probably the best NFT game around. Referral link: splinterlands.com

  • Alien Worlds: This is another Collectable Trading Card Game. At the moment it's not much more than a crypto faucet, but it is still new and lots of exciting things are promised for the future. play.alienworlds.io

  • R-Planet: Also fairly new, this game lets you stake NFTs from several different collections to earn a passive income. Also has an element blending/crafting game and more developments to come. rplanet.io

aqua-page-divider.png

Connect with Crypto-Spore

If you're interested in connecting with me elsewhere:

Hive Blog: hive.blog/@crypto-spore
My Website: www.crypto-spore.com
Twitter: www.twitter.com/Crypto_Spore
YouTube: www.youtube.com/channel/UCJndBuZ3aoAjqDDzW_IbJ8Q



0
0
0.000
0 comments