With increase in adoption of NFT/P2E games, DeFi Kingdoms remains one of the most promising projects yet.
Web3 is bringing a lot of promise in the masses finally taking control of the internet from big corporations. Gaming is one of the most popular uses of the internet, and it is the one industry that is ripe for a revolution.
Play to Earn games like DeFi Kingdoms are overhauling the entire business model in gaming, where instead of people paying to own entire games or to buy ‘points’ in a game, they are actually rewarded for playing with tokens that can be converted into real money.
DeFi Kingdoms is one of the relatively underrated but promising projects you should be watching out for.
Here’s a rundown of what the game entails, and how to get on board.
DeFi Kingdoms Explained
Launched in 2021, DeFi Kingdoms (DFKs) is an NFT game on the Harmony Protocol Blockchain. It also serves as a decentralized exchange platform and a Knowledge hub base for liquidity pools.
The platform aims to link gaming with a decentralized exchange in the metaverse while combining play-to-earn engineering and NFTs.
DeFi Kingdoms is still a very young platform shaking the GameFi sector with only a few months to its first anniversary.
Since its launch, the platform has already featured more than 7.32 million transactions on its network
Tokenomics of DeFi Kingdoms
DeFi Kingdoms features JEWEL as its primary token. The token is designed to use a dump-proof mechanism such that a user can hold many tokens at the moment and fewer profits from it in the future.
While that may not be very appealing, at least it applies the safest security measures in the industry. Users who hold these tokens can use them for various things.
JEWEL holders can purchase Heroes and Kingdoms NFTs in the games marketplace and other assets useful in the game.
The token can also be used as a governance Token meaning that holders can take part in the decision-making process on the platform.
In addition, the token is also used to provide liquidity in DeFi Kingdoms allowing you to earn more JEWEL through staking. AVAX/JEWEL, LUNA/JEWEL, and ONE/JEWEL are a few examples of liquidity pairs on the platform.
As of writing, the coin market cap estimates that JEWEL has a market capitalization of just over $300,000,000 and a total supply of 500 million tokens, of which with 2% were pre-minted.
You can buy JEWEL on MEXC, AAX, BigONE, Hotbit, CoinEx etc.
How To buy JEWEL Tokens
To start enjoying the game, you must first purchase DeFi Kingdoms in-game tokens which will keep you going to bring the most experience out of the game.
You should invest in JEWEL tokens which have several functionalities, as mentioned previously
As per the platform’s official documents, you first link the Harmony Mainnet to your Metamask wallet. Please refer here for more information about this.
After a successful link, transfer ETH from Ethereum Mainnet to the Harmony network using the Harmony Bridge.
Once your wallet is equipped with enough, you can then connect with the DeFi kingdoms game to personalize your avatar and start playing
DeFi Kingdoms Marketplace
DeFi Kingdoms has a marketplace based on UniswapV2 Protocol.
The marketplace allows users to buy and trade various in-game assets using the Platforms Tokens (JEWEL).
Since the DeFi Kingdoms is a blockchain game that fully supports NFTs in the game with its special characters known as Heroes. You can buy, sell, and even rent heroes through the NFT marketplace.
How To Make Money Playing DeFi Kingdoms?
Getting started with DFK is simple and easy. As a new user on the platform first things you will need are Hero characters.
Some gas fees will be deducted from a player’s wallet each time they purchase their hero NFTs from the marketplace.
To get the most earnings out of the game, here is what you ought to do
- Stake: When you stake a JEWEL, you earn rewards in JEWEL tokens. Depending on your mission, Staking rewards will vary, but they can generate 50% profits.
- Become a Liquidity Provider: The more you provide your LP tokens in the Gardens, the more your JEWEL tokens are increased. This will help you to purchase rare NFTs or other items. Some LP pairings provide an APY of up to 400%
- Trade NFTS: The more heroes you own, the more money you’ll make when you trade them on the NFT marketplace.
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