Bitcoin News and Finance
Defi Kingdoms Reaches Record Activity Levels on Top of Metaverse Push Skip to main content

Defi Kingdoms Reaches Record Activity Levels on Top of Metaverse Push

defi kingdoms

Defi Kingdoms, a metaverse-based blockchain game, is experiencing a rise in activity due to the push that metaverse projects are now having in the market. According to Dappradar, the activity on the game has risen considerably. This is also accompanied by the rise in the price of its native token, JEWEL, issued on top of the Harmony blockchain, a token that reached all-time high (ATH) levels in a sideways market.

Defi Kingdoms Grows Among Its Peers

Defi Kingdoms, a play-to-earn (P2E) game inspired by metaverse elements that include non-fungible tokens (NFTs) as part of its structure, has been getting traction amidst the group of blockchain games that are coming out after the recent Web3 hype. According to data from Dappradar, a decentralized finance (defi) activity tracker, the number of users of Defi Kingdoms has grown more than 300% in the last month. Also, the number of transactions in the network has more than doubled in the same time, reaching 7.32 million.

The game, which also includes purely decentralized finance activities that users can harness without playing it, like staking and liquidity mining, has also experienced a rise in the value of its native token, JEWEL. The price of the token touched ATH values today, breaking the $20 dollar mark amidst a general slump in the cryptocurrency market.

The Rise of Decentralized Gaming

According to the views of Yosuke Matsuda, president of Square Enix, who addressed the subject in a letter, last year was the year of NFT’s and the metaverse. While smaller companies have been creating projects inspired by these concepts before, last year was when the industry started pumping funds in a more substantial way. As a result, projects like Decentraland and The Sandbox, which had already been established long before, are already benefiting from this push.

Axie Infinity became one of the most played decentralized games during this year, due to its play-to-earn mechanics that appealed to people with low incomes in countries like the Philippines and Venezuela, that perceived a higher income playing these than by occupying normal jobs in their countries.

Due to this success, traditional gaming companies (like Square Enix and Ubisoft) are now trying to introduce these elements into their gaming ecosystems, proposing to create token economies and marketplaces that would allow these universes to be self-sustainable in the future. However, AAA gaming companies have not released an installment of a major franchise integrating NFTs yet.

What do you think about the rise of Defi Kingdoms and decentralized gaming? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory