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DeFi and NFTs- Evolving The Blockchain

DeFi and NFTs- Evolving The Blockchain

Decentralized Finance or DeFi is an aim to decentralize financial activities to ensure more anonymity with openness to experience while ensuring cryptographic security. All the failures in our traditional financial systems ignited the evolution of DeFi. Traditional financing is limited to jurisdictions making it inaccessible to many, inefficient and costly in numerous ways and is opaque giving way to extreme systematic risks. DeFi is the other way around. DeFi is accessible to all with no geographical limits. It is efficient as it is based on a trust-less system and eliminates the need for intermediaries. They are publicly accessible as they are built on auditable blockchains. 

Non-Fungible Tokens or NFTs are a type of cryptographic tokens that may represent the ownership of digitally scarce items and goods. In simpler words, online assets may be backed by a non-fungible token. Each token is treated as a collectible and owns individual properties. Each NFT is unique and is stored in the token's meta-data. They are probably scarce with a limited number such that they may have only one copy. Commonly, NFT’s can not be split into smaller portions and are indivisible. They guarantee the ownership of their backed assets, are fraud proof and are easily transferable as a whole (not in fractions). 

If we look into the implementation of NFTs in pure DeFi environments, the possibilities are unlimited. While searching through such projects, the best integration of NFTs in DeFi for gaming can be seen successfully implemented by AnRKey X. They remain the first ones to merge DeFi with eSports and Web 3.0 based NFTs. They have paved a way towards a new industry like never before creating a brand new gaming industry called m$ports which stands for Money Sports. AnRKey X is based on Ethereum and works using their native Ethereum based $ANRX Arcade Coins. DeFi’s liquidity reward generation and staking is utilized very uniquely by team AnRKey X to create a DeFi based e-sports platform which is NFT enabled. They have created a brand new Ethereum based type of protocol platform which they have named “gDEX” or Decentralized Finance Gaming Platform Exchange. The first m$ports industry gaming product released by this team on their gDEX is “Battle Wave 2323™” which is a highly competitive money sports game. One of the most amazing facts about this platform is that all the in-game characters and designs are created by the CEO/Founder J.D. Salbego himself, as he remains the company’s Art Director and Creative Design Visionary for the AnRKey X Universe.

Now here’s how you can play:

Firstly, choose the Battle Wave 2323 Pool Army you want to join on their gDEX and then go to Uniswap and get your LP token for that same pool. Go back and connect your wallet to AnRKey X. Once the wallet has been connected, you can simply go to your Pool Army you chose, stake your LP token and join them in the weekly game. To turn on your high APY boost, start competing, buying, selling, upgrading, earning and winning value backed NFTs and APY rewards. 

Gaming on AnRKey X brings decentralized arcade gaming right to your browser. Users can easily trade their money by purchasing their native $ANRX arcade coins to play on their gDEX. Users can earn rewards and get their arcade coins back as NFT and APY rewards. Their team aims to be identified as a community driven platform with 25% of all transaction revenue going back to the community, community voting, and an $ANRX arcade coin allocation fund for community development and community game developers to create their own AnRKey X m$ports gaming DaAPPs on their gDEX platform. This is the first team ever to implement DeFi, eSports, NFTs all on a single decentralized finance platform while generating rewards for the platform’s participants. The company has remained in stealth mode for 3 months during its protocol development before being launched to the public. Their team consists of all genuine people such that no one remains anonymous and includes crypto influencers and very well known DeFi and crypto leaders in the industry. AnRKey X’s native arcade coin “$ANRX” has 12 medium of exchange utilities within their ecosystem. The more you utilize its multiple functions, the more you earn within the gaming system. Payment utility functions include purchasing “Sacred Relic” NFT packs, purchasing NFT “Arms” boosts, purchasing weekly Pool Army game winners highly limited and powerful NFTs, purchasing NFT upgrades which they call “Armaments” for their weekly winning Army pool Golden Chalices, purchasing the unique Battle Wave NFTs and purchasing their AnRKey X Universe side-chain collectable NFTs. Earning utility functions include reward distribution for yield farming APY in your Army pool, NFT rewards distributed to the winners of the Battle Wave 2323 weekly game, Sacred Relic NFT pack rewards, shared (25%) AnRKey X transaction profit distribution for gDEX users, profit from selling the winning Golden Chalices NFTs in the aftermarket, and profit from selling AnRKey X Universe side-chain collectable line NFTs in the regular marketplace.

Here’s a quick overview of what team AnRKey X has come up with:

  • Enhanced NFT Model - Solved scalability and mass adoption problems  
  • A true derived NFT base value with rare collectibles
  • Socially competitive community driven protocol  
  • Inherent economic supply and demand value system 
  • Simplified platform UX for user with a fair P2P economic ecosystem

As per their roadmap, they started out in Q2 of 2020 where they released their Boot Version > V3.14159.➰ I.e. 3x.TheEngineers.π.//{DarkWeb} on the TestNet. In Q3 of 2020 they have been working on extended development of their Automated Economic Logic Modeling, that provides the foundational layer of their DeFi based gamification, and their derived base value economics system for their NFT models. During Q4 2020, they aim at launching their Beta Version v1.37.➰ 0x.Human// [TestNet]|to the MainNet with a full security audit, with the official release of their first m$Ports™ game of their series — Battle Wave 2323™. As well, during Q4 is their public sale, and their coin’s DEX and CEX listings before 2021. A very busy quarter indeed. Within the early new year, team AnRKey X will release new games, build strong partnerships, launch their full gDEX v2, and have continuous releases of their collectables line (AnRKey X Universe Side Chain Line NFTs).

NFTs can unlock great potential in DeFi such that they can be used as the collateral for lending platforms. NFTs can be tokens representing a piece of art or an entire land and allow users to borrow money against it. NFTs in DeFi can give way to many such other platforms, with. AnRKey X being the first one in line creating a brand-new innovation fueled by DeFi, eSports, and Web 3.0 NFTs.

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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