by Ivan Somoza
Behind every new emerging movement in the crypto world (DeFi, NFT, Play-to-earn, etc.) there is a strategic plan, by the ecosystem, to attract as much capital and users as possible, in true Pied Piper style. of Hamelin” that, making his flute sound, dazzled the listeners through the melody that emanated from it, remaining trapped at his disposal.
Well, today we bring the new Trojan horse of the crypto world; a new movement, developed with the sole purpose of attracting the hordes of more lagging users, who believe that this decentralized Finance and the crypto world in general, is too complicated. This new concept, known within the ecosystem by "GameFi". It brings together two other emerging movements. The well-known Play-To-Earn (Play to receive returns) and DeFi (Decentralized Finance).
Among the most avant-garde projects of the main GameFi protocols, DeFi Kingdoms stands out in a relevant way. A project that is totally governed by P2E (Play-to-Earn), a category that has been booming due to blockchain games such as Axie Infinity, Crypto Kitties… And it promises to be: “A double paradigm shift within the world of finance, by gamify decentralized finance”.
What is “DeFi Kingdoms”
Although, for a very short time we can see it running through the Avalanche (AVAX) network. DeFi Kingdoms (JEWEL), is currently the most powerful project in the Harmony (ONE) network. A blockchain that has gained popularity in recent months, because its fragmentation system offers greater scalability and a better consensus system than other competing blockchains, in fact it is already in the top 50 of Coinmarketcap.
DeFi Kingdoms (JEWEL), represents a bold solution to an underlying problem in the cryptoverse: making the complex options offered by DeFi platforms fun. By gamifying these options within a game, concepts that are difficult to understand (DEXs, liquidity pools, NFT marketplaces, etc.) are advertised, using word of mouth, in an entertaining and fun way, obtaining a greater flow of users wanting enter this type of platform, attracted by closer and more affordable alternatives.
In the end I must refer to DeFi Kingdoms, as: "Harmony's all-in-one (ONE)", since it is at the same time, a DEX, a P2E, an NFT Marketplace, a Bridge, a Metaverse, etc. "The combination of all the emerging movements of the cryptoverse camouflaged within a fantasy game." That's where his success comes from.
DeFi Kingdoms is a serious rival to Axie Infinity's supremacy in the realm of P2E gaming.
Game Lore: Gaia - A World Rebuilding
Thousands of years ago, "Gaia" was a continent where all its inhabitants lived in a completely atypical state of peace and harmony. A world very different from what we know today.
Over the years, not satisfied with the gifts that nature provided them altruistically. Its inhabitants embarked on an era of technological advances that catapulted this civilization away from the ideological roots on which they based their culture. The people of Gaia began to move in a totally reckless way. His greed was relentless. They extracted, mined and polluted the ground with waste and gadgets, ad nauseam.
A small number of people, faithful to Gaia, continued to worship this wonderful land. She, in gratitude, decides to grant them a trip to the "Inner Grove": a paradise dimension for those who remained faithful to her during the Age of Progress.
Once moved to “Inner Grove”. Irae, the God of Reconstruction, unable to suppress his anger at the disrespect towards Gaia, decides to divide the continent by means of great oceans to stop their progress. Destroying in this way, the great machines and monumental structures of the era of progress.
After several centuries apart, the kingdoms of Gaia begin to come together again. Having learned their lesson, they try to live in peace and harmony, appreciating the gifts that this land provides them, since they base their economies on them.
The inhabitants of this new world try to live by exploiting JEWELs, crystals with mystical powers and the heart of Gaia's new economy. The mystical power of these crystals is used to summon back the ancient and powerful heroes of the Inner Grove, who will help defend these lands against the dangers that lie in wait.
The Age of Heroes has begun. History books wait with their blank pages, awaiting the great deeds and stories that lie ahead.
How to get started in DeFi Kingdoms
The first thing that the user who wants to enter this platform must do is create or own a wallet that runs through the Harmony network and fund it with a small amount of ONE (network native token). It is a mandatory step, if you want to go from the main page.
After this first step, we can visit the entire platform without any problem. (Be sure where you're going, the first page I came across was a "scam" which asked me for the seed phrase of my Metamask, don't fall into that mistake, be careful).
How to play
The entire DeFi Kingdoms platform is built around the use of Heroes: utility NFTs that gather resources by completing tasks. The platform has more than 1,000 NFT heroes.
These resources serve various purposes within the game. For example: if you have fish you can create potions to use in adventure missions. With eggs you can incubate pets (NFTs), etc.
In general, any resource you get in the game, you can exchange it in the Marketplace for JEWEL.
The first thing we find upon entering is the map. This map changes with the new updates, but mainly from here we can go to the different parts of the game. You can click directly on the part you want to go to, or in the menu on the right, you can select where to go.
“Marketplace”
This is the heart of the DeFi Kingdoms economy. New players should meet the shopkeeper Matoya here. She is the face of the decentralized exchange, here users can trade tokens on the Harmony blockchain.
In the "Marketplace" we can also find the druid Lazarus. If you need to get seeds to sow you should talk to him. To get them you must enter liquidity in the pools that the druid tells you, these pools can be a powerful tool to generate more JEWELs.
“Gardens”
Once you have your seeds, you need to head to the Gardens to plant them; Henry the farmer oversees this area.
In the “Box Seed”, you can see the statistics in this area: list of active pools; liquidity ; emissions; expected performance; etc. With these data, you will be able to decide which liquidity funds are the most interesting. Currently they are around the apr they move between returns of 250% to 300%.
The returns on JEWEL are quite high, although it must be taken into account that this makes the token inflationary.
Also, it is important to know that when you contribute liquidity from an LP Token, the reward you receive is JEWEL, and a part of it is locked for 6 months to prevent the price of JEWEL from falling. It is a mechanism used by many platforms to discourage selling the platform token by locking a portion of the rewards for a period of time.
At this moment, the block is 77% of the tokens, but over time the percentage is expected to go down.
“Jeweller”
This is the Jeweler's Vault. If you want to "Holde" your JEWELs (jewels) for a while and receive rewards for it. Jeweler Ian can help you by keeping your JEWELs in his vault. While the JEWEL is deposited in the vault, part of the platform's profits are shared with the depositors. These rewards are distributed based on deposits from within the vault.
“The Tavern”
Taverns are always a popular place for heroes and travelers to meet, and this one is no exception. This area is linked to heroes and it is here that you can buy sell or rent heroes in exchange for JEWEL.
The bartender Kessing will let you know the characteristics of any hero or even send a hero to another player, while Selena, the agent. It will always make available to you the list of heroes that are for sale. Once you have your own Heroes, you can return here to rent or sell them for JEWELs.
You can visit the Tavern to purchase Heroes and learn more about what makes each Hero unique.
“Professions”
When you get a hero, you need to bring it to this area to start taking advantage of its abilities. Here, they will gain experience and resources. In addition, the heroes that you do not use may be here fulfilling missions to be generating rewards in their respective professions. There are 4 professions available (mining, fishing, gardening and farming).
“Portal”
In the Portal, the Heroes are summoned to return to the realm from the "Inner Grove".
To summon a Hero, Archdruid Agranam infuses a crystal with the channeled energy of two heroes who accompany him during the ritual.
Summoner Lisa then places the crystal in the portal. This, while consumed, allows a new hero to enter the realm. This will inherit part of the attributes of the heroes who gave their energy to infuse the summoning crystal.
Evolution and status “DeFi Kingdoms” (JEWEL)
DeFi Kingdoms, appears in the No. 1 position in the list of video games that have moved the most capital volume in the last month. With a total of 796.8M compared to $603.45M for Axie Infinity. $200 million difference? A surprising amount, also knowing that Axie Infinity has 60 thousand more users than DeFi Kingdoms.
DeFi Kingdoms, also appears in the No. 1 position in the list of projects with the highest Total Valeu Lock within the Harmony network. $612.84M compared to $188.09 for the second candidate: Tranqui Finance (TRANQ), with an amount three times lower.
It should be noted that the TVL of DeFi Kingdoms represents 1/3 of the entire “Total Valeu Lock” of the Harmony network.
The native token of DeFi Kingdoms is the JEWEL. The economic heart of the platform is based on it.
The history of coinmarketcap shows that the DeFi token Kingdoms (JEWEL) began trading at the end of November 2021, barely 3 months ago. Its initial price was $8.9 dollars approx. It is currently trading at a price of ($7.4 dollars) almost 20% lower than its starting price.
In January 2022, it reached its historical maximum, reaching a market price of $23.23 dollars. Since then and due to the general falls of the entire market, in exactly 40 days, its price has fallen by approximately 75%. At the moment, it remains in the position No. 3911 of Coinmarketcap.
From here you can take a look at the updated data.
Conclusions
The decentralized finance sector continues to witness the influx of more and more projects.
DeFi Kingdoms is currently one of the biggest NFT games out there; the most powerful driving the GameFi concept. The versatility of this concept, when it comes to easily teaching DeFi concepts within a fantasy game, gives it a unique touch so far within the Crypto universe. If we add to this that it is the quintessential project on the Harmony(ONE) network, the reason for its success becomes clear. There is no more twist.
Either way, the way I see it, trying to cover so many aspects of the crypto world in a single project is something that can throw up the occasional setback. Since if for some reason, the system goes down, users will realize that perhaps it is not such a good idea for a single platform to try to cover the sun with a finger.
👉 Top Related News
GameFi faces headwinds from regulators in major Asian markets
As crypto investors see GameFi as the industry's latest vertical, experts warn that major gaming and crypto markets will present regulatory challenges to the industry.
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BitMart launches $50M fund to empower early-stage GameFi projects
BitMart, the digital asset trading platform, has recently established a $50-million GameFi fund to invest and incubate GameFi and nonfungible token (NFT)-related projects. The fund is also aiming to develop more quality projects in terms of marketing, operations, trading and more.
BitMart is the world’s leading digital asset trading platform, ranked top 15 on CoinGecko and has experienced rapid growth since its inception in 2017. BitMart has increased its daily active users by a hundredfold and doubled its team members in the last 12 months. The exchange has also launched several offerings in the easy-to-use category, including both flexible and locked savings for cryptocurrency users, and the company has further strengthened its systemic infrastructure. These efforts built an impregnable stage for BitMart’s high-standard performance in 2021.
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GameFi NFT Marketplace Lootex Closes $9M Funding Round
The Taiwan-based asset marketplace features over 12,000 NFTs across 500 collections.
Lootex, a multi-chain non-fungible token (NFT) marketplace, has closed a $9 million seed funding round co-led by Spartan Capital, Infinity Ventures Crypto, LD Capital and game and entertainment company Akatsuki.
More info at Coindesk
Official channels of “DeFi Kingdoms”
Web Oficial: “DEFI KINGDOMS”
White paper: “DEFI KINGDOMS”
Twitter Oficial: “DEFI KINGDOMS”
Discord Oficial: “DEFI KINGDOMS”
Reddit Oficial: “DEFI KINGDOMS”
YouTube Oficial: “DEFI KINGDOMS”
Instagram: “DEFI KINGDOMS”
Telegram: “DEFI KINGDOMS”
Telegram: “DEFI KINGDOMS”
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