In case you didn’t know, the DeFi market’s landscape is rapidly evolving as developers create gaming worlds like DeFi Kingdoms. Right now, it’s one of the hottest gaming sites with a high price in the crypto market. As the market is currently surging in volume, people are finding ways to grow their digital assets and gaming has been a perfect way to ramp up its price.
This week, we take a look further into this platform and check out its features, including a brief profile and our initial thoughts regarding the latest developments in the DeFi space. Continue reading to find out more!
About DeFi Kingdoms
It is a cross-chain play to earn economics MMORPG built on a strong DeFi protocol. It features an immersive virtual realm using nostalgic fantasy pixel art as its aesthetic. The DeFi kingdom is based on the DFK Blockchain.
The game was created to fully embrace the potential of blockchain in the game form. It was created with enjoyment in mind where people can collect rare NFTs, engage in token trading within the market, and make bitcoin transactions a fun activity in the form of jewel and crystal assets within a fantasy world.
At present, DeFi has a 6-phase roadmap aiming to deliver more features and perks to its users.
Blockchain and Tokenomics of DeFi Kingdoms
DeFi Kingdoms is powered by blockchain technology under the Harmony ONE network. It operates using a governance token system classified as the CRYSTAL Token with a total supply of 125 million, and the JEWEL Token with over 500 million in total supply.
Unlike other cryptocurrency exchanges, there are unique NFTs you can get in limited supply as part of the games. In the coming phases, DeFi Kingdoms will release collectible hero NFTs with multiple utility cases (for early unlocking) which will also be useful here. The current market cap for its currency sits at $1.1 billion. The game has withdrawal fees to avoid “pump & dump” schemes.
How To Play DeFi Kingdoms?
DeFi Kingdoms blends MMORPG using DEX (decentralized exchange systems) which allows you to earn rare utility-driven NFTs while having access to NFT equipment crafting and resource gathering. The game consists of heroes, The Jeweler, and the garden, all integral parts of the realm.
You can upgrade character items and your land by trading or stake as part of the game’s P-to-E economics. In-game missions and quests are important too. The kingdoms also hold PvP tournaments as part of their tokenomics system so that you can earn rewards. Visit the market to buy and sell items worth every currency from your wallet.
DeFi Kingdoms Game Assets
DeFi Kingdoms operates through a decentralized finance exchange network setup. These exchanges use the UniswapV2 Protocol. They are the Serendale, which uses JEWEL/ONE tokens, and Crystalvale which makes us of CRYSTAL, AVAX, and Avalance tokens.
Throughout the game, you may avail of the Jeweler which accepts deposits of DeFi Kingdom’s currency, and The Gardens, which is a place to stake liquidity pool opportunities. Working in this realm allows for liquidity mining which is important if you want to progress in the kingdoms.
The P2E system allows you to earn pool rewards and in-game items which will give you useful items from quests and missions.
About the DeFi Kingdoms Team
The DeFi Kingdom team consists of 9 departments comprising of back-end development, front-end development, gaming design and lore, creative/UX, gameplay mechanics, marketing, community, business development, and operations.
Leading the entire project is “Frisky Fox” who is its executive director and “Dreamer” as its president. You may learn more about them from the team’s dedicated page.
About the DeFi Kingdoms Community
There is a strong following of games enthusiasts within this metaverse. With over 110,000 followers on Twitter and 88,000 members on its official Discord server, players can share financial advice/strategies, discuss aspects of the game such as the risk involved within the games, or things like data volume, stats, volume price, and market cap.
While this blockchain game is not necessarily a financial product, players must be strategic especially in the game’s market when trading jewel assets or monitoring the volume data, especially for newcomers. We feel that DeFi Kingdoms has so much potential, especially with the current rise of P2E games in the market.