Play to Earn – Disrupting the NFT Gaming Industry – A DeFi Approach
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/.