Games are well on their way to increasing the popularity of DeFi platforms. Here’s a look at the latest developments that promote the “play-to-earn” business model.
Over the past few months, decentralized financing (DeFi) platforms have gained cult followers against the backdrop of the bullish cryptocurrency market. This digital money revolution is now moving into the gaming industry, creating a crossroad between DeFi and gaming experiences that experts believe will play a huge role in the next generation of games.
DeFi focused tokens such as Polkadot (DOT), Solana (SOL), and Chainlink (LINK), to name a few, have experienced moments of euphoria in the markets, gaining a lot of popularity as you progressed.
Investors and speculators should expect even more in the future given the bold move the likes of the Solana Foundation and Houbi Ventures have taken to invest in early blockchain-based gaming platforms that include DeFi in their system.
The emerging ‘play to earn’ model aims to highlight the benefits of blockchain technology in the gaming industry and beyond.
Games that simplify DeFi
DeFi Land, a game designed to be a multi-chain farming simulation, designed to enable a gamified decentralized financial experience, has just raised $ 4.1 million in a funding round with over 40 investors participating.
Founded in 2021, DeFi Land is a privately owned company based in India with the primary goal of creating educational and entertainment solutions for users looking to explore the DeFi space.
The DeFi Land farming simulation is designed with all the features that can be found on a conventional DeFi platform. However, unlike most DeFi platforms, DeFi Land offers an interoperable ecosystem that can run on other well-known platforms such as Uniswap or even PancakeSwap (Binance Smart Chain).
This approach is intended to help DeFi Land avoid rediscovering the wheel, thus allowing users to access automated market-making protocols, decentralized exchanges, and leading protocols on other blockchains. In DeFi Land, each digital asset is represented in the form of a plant. For example, SOL Solana’s token is sunflower and USDC’s stabl ecoin is a corn plant. Users can grow these tokens and get an annual percentage yield of heavy harvests.
To make it even easier for users to learn the ins and outs of DeFi, DeFi Land offers an exercise mode where users can learn everything about DeFi while playing the guided version.
Brian Lee, senior director of Alameda Research – one of the companies that participated in the DeFi Land investment round – said DeFi Land combines “two of the most interesting things that are happening in cryptocurrency today – games and DeFi.”
29-09-2021, Mr Advice TEAM