DeFi Kingdoms is an RPG-style play-to-earn game that is seriously starting to break the bank. Launched at the end of August, the game and its community have had a great fall thanks to yield farming, staking and other opportunities. Although Axie Infinity hit the big time in 2021, its cousin has nothing to envy it and could become even more important in 2022.
DeFi Kingdoms: just outside the top 100 cryptos
Despite the reluctance of some traditional video game players, play to earn is in vogue!
After several successful beta test phases, DeFi Kingdoms (DFK) went live on August 23, 2021 on the Harmony blockchain. This “play to earn” is distinguished by its neat “pixel-art” and its nature deeply inspired by the RPGs that rocked the adolescence of many video game fans. After 6 very convincing months, DFK is thinking big for 2022 and intends to bring as many users as possible into its kingdom. A port to Avalanche is planned for January.
DeFi Kingdoms in a few figures
- Launch on August 23, 2021 with 800 users against nearly 27 000 at the time of writing
- TVL (Total Value Locked) went from $1 million to $830 million (of which a third in staking) in less than 6 months
- Yield farming returns in the triple digits
- The $JEWEL – the game’s native token – has seen its price literally explode, performing 260,130.02% since its listing
- DFK even quickly entered the top 100 most capitalized cryptocurrencies at its last peak. The market cap had exceeded $1.3 billion!
The recipe for “play-to-earn” success?
Backed by a team of hyperactive developers (the game evolves almost daily) and definitely community-oriented, DeFi Kingdoms can eventually be considered the King of the industry. This pedigree, DFK could obtain it in particular thanks to the complete and ultra simplified experience offered to the user. The ingenuity of its tokenomics is also a strong argument.
Indeed DFK is a game that runs on a web browser in which the user can find in the same place:
- An integrated DEX to make all the necessary transactions to participate in the game
- The “mint” portal to “summon” a new hero (NFT allowing access to quests and other gaming features)
- Quests and professions to practice with your heroes to collect experience and items with merchant or utility value
- A secondary market to buy/sell NFTs
- Farming pools with high returns
- A “bank” allowing you to store your $JEWEL and be paid thanks to a part of the fees of each transaction made in the game
Play to earn” is an excellent way to drive mass adoption of cryptos and the use of smart contracts. It’s clear that user experience and ease of use of protocols is still a weak point in the crypto ecosystem. Mass adoption will only happen by addressing this shortcoming.
By offering a solution that is fun, comprehensive, but also rewarding (are you all in this for the tech?), the creators of DeFi Kingdoms have laid down one more block towards adoption. In case you missed the first train on the Harmony line, a second train to Avalanche Station is planned for January 2022.