Blockchain technology is disrupting the gaming industry, and the decentralized finance (DeFi) and non-fungible token (NFT) sectors are fueling this revolution.
The emergence of the play-to-earn business model, popularized by blockchain-based games, is taking the world by storm.
However, a unique new mix of up-and-coming games, DeFi, and GoFungibles NFT-backed capital has recently sparked interest in the gaming industry. What it is and what features does it bring? he at the table?
GoFungibles is a decentralized platform that offers a unique and exciting mix of blockchain-based winning games, a gateway to access the DeFi marketplace, and a conventional NFT marketplace.
It is a DeFi-powered ecosystem that allows users to create, trade, earn, and mine multiple non-fungible tokens along with several other features including gamified yield farming, staking, and rewards, designed to provide users with an immersive blockchain gaming experience. .
GoFungibles integrates several features from the DeFi, NFT, and gaming industries to provide users with an exciting experience unlike any other.
The platform seeks to give users access to a wide range of NFT-backed DeFi products and various income opportunities while increasing the liquidity of digital assets by gamifying some of the core features of the DeFi industry, including l yield farming and staking.
GoFungibles uses a multi-chain solution, the Interplanetary File System (IPFS), which makes NFTs truly interoperable, enabling multiple wallets and allowing users to seamlessly create and transfer tokens across multiple blockchain networks without running the risk of lose their value.
The platform also uses the Polygon layer two solution, which allows users to transact for low transaction fees. It offers endless, addicting and fun mobile racing game with premium graphics, smooth gameplay, crypto economy and NFT digital assets.
Players can play and upgrade their in-game characters in single player mode, or they can decide to test their skills by competing against other players in multiplayer mode while earning rewards such as in-game currency and rare NFTs.
Additionally, GoFungibles seeks to address some of the issues plaguing the NFT market, including low liquidity, fragmentation, and high gas costs, while lowering barriers to entry for the NFT industry.
When DeFi meets NFTs
The DeFi industry has shaken up traditional financial systems and the NFT space has shaken up the market for traditional collectibles.
GoFungibles intends to create a unique but potentially explosive combination of the two worlds. How? ‘Or’ What? Here’s how.
- Fractional NFTs: By definition, NFTs are non-fungible or indivisible assets. However, GoFungibles has created a way for the creators of NFT to sell fractions of their new and valuable NFTs to multiple buyers.
This makes NFTs accessible to a wider range of investors and allows the creator to sell NFTs quickly rather than waiting for a single buyer.
- Guaranteed NFTs: GoFungibles allows creators to use their NFT collateral when applying for loans to access cash without having to sell their assets.
- NFT rental: Users are not left out as they can rent their in-game NFT characters to other players for in-game use. This serves as a passive income stream for NFT holders in the GoFungibles ecosystem.
- Agriculture and NFT staking: GoFungibles brings additional liquidity to NFT assets on its platform by allowing users to stake their precious NFTs while cultivating platform tokens and rare NFTs. This presents yet another passive income stream for users.
- Artist donations: Users can also show their appreciation by donating to their favorite artists. These gifts act as morale boosters, motivating creators to create more quality NFTs.
The platform provides users with a list of features.
- DAO: To eliminate centralization, GoFungibles created a Decentralized Autonomous Organization (DAO). This allows holders of the platform’s native token to gain voting rights on certain platform changes, community submissions, and creator whitelists.
- NFT fee structure: GoFungibles allows users to create, create, and list an NFT with any media item for free, with only a 2.5% fee payable once the NFT is sold.
The platform also solves the problem of high gas charges by adopting Polygon’s Layer 2 solution and Ethereum’s Lazy Minting.
GoFungibles brings more liquidity to NFT assets on its platform by allowing users to stake their precious NFTs while cultivating platform tokens and rare NFTs.
- NFT Market: GoFungibles offers an innovative and user-friendly NFT Marketplace that has all the features of some of the best NFT marketplaces, but enriched with several DeFi features including NFT farming, splitting, and more.
GoFungibles aims to expand its DeFi functionality in the future to offer loans guaranteed by NFT and other financial instruments that underwrite NFTs.
- NFT Royalties: Artists are often not valued as much as they should in the centralized world. GoFungibles aims to make things better in the decentralized world by allowing creators to schedule royalties into their NFTs, which will provide them with passive income.
Announcement of a private fundraising of $ 4 million
The Polygon-based GameFi platform recently announced that it has closed a $ 4 million private funding round. Investors in the cycle include Moonrock Capital, Genblock Capital, AU21, X21 and Oddiyana Ventures.
The global launch of the Metarun game is slated for Q2 2022, but Early Access will be available in 2022. It is a win-win game with NFT assets that can be traded on GoFungibles’ NFT Marketplace.
The GFTS token
GFTS is GoFungibles’ native cryptocurrency and is designed to fuel the activities carried out on the platform.
GFTS holders enjoy several benefits, including:
- Access to voting rights on platform changes, community proposals and exclusive NFT approvals.
- Use GFTS tokens to promote and showcase their NFTs.
- Get GFTS tokens for staking rewards and yield farming.
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