|decentralized finance||GameFi||NFT staking||NFTs||PolkaFantasy||Polygon blockchain|
The gamified DeFi platform PolkaFantasy is expanding its ecosystem to the Polygon blockchain. This will allow players to enjoy a service with fast and cheap transactions. Polka Fantasy is already active on Ethereum and Polkadot.
PolkaFantasy is a marketplace for DeFi-enabled anime-themed NFTs, and it’s active across different blockchains. The full name of the project is PolkaFantasy: The Chain of Realms, and it’s highly inspired by anima, manga and gaming culture. The service offers its own mobile wallet with built-in marketplace for peer-to-peer trading.
Native to the PolkaFantasy ecosystem is the XP token. Users can upgrade their NFTs using XP tokens, while they can also stake their tokens to earn more XP in return. Around the end of this year the team will launch a game in the PolkaFantasy ecosystem as well. Often when gaming and DeFi collide, we label such a project as GameFi.
What’s the trend here?
Over the past few months we’ve seen a wide variety of gaming project adding governance tokens or DeFi elements. Splinterlands will launch its SPS token this month, while The Sandbox lets users stake their liquidity pool tokens for SAND-ETH in exchange for more SAND and NFT rewards. Axie Infinity is building its own economy, obviously combining NFTs, DeFi and gaming. The rise of play-to-earn gaming adds all kinds of new levels of interactivity to NFT collection, while also adding earning mechanics through staking.
The thing is, when gaming and blockchain collide, DeFi and NFT automatically become a part of it. The trends and technologies intertwine. At the same time we’re seeing that cross-chain or multichain is the future. Bridging technology, and the ability to quickly move value from one chain to the other, will become an important element. PolkaFantasy now allows users to have NFTs on Polkadot, Ethereum and Polygon. Likely Binance Smart Chain will follow soon as well, considering the trend.
Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a content manager and creator at heart, working on Play to Earn. He’s also Head of Content for DappRadar.