Elrond NFT DeFi Opportunities Via ChainGuardians Gamification
Financial services such as investments, financing or risk hedging are often seen as out of reach by a significant amount of the world’s population. The perception stems from the high barrier of entry, complex processes, un-appealing mechanisms and interfaces for using financial products, and very importantly - their availability.
The resulting engagement is therefore predominantly in the 35 year old or above demographic, often backed by a certain degree of financial education. The rest of the population, and therefore capital, remains un-engaged.
Recent retail investment events have shown that even those sitting on the sidelines could be engaged with a compelling story. DeFi products’ appeal is in no small measure attributable to the casual fun associations with food or desserts.
This goes to show the individual potential of compelling stories or relatable symbols. When stories and symbols are combined, they each amplify each other’s potential to reach out to an even broader audience and further engage new capital.
This is why we are excited to announce our collaboration with Chain Guardians, an NFT-based meta gaming platform.
“Platforms such as Chain Guardians are able to educate through entertainment, which is perhaps the most powerful way for onboarding new demographics and capital into the new global financial system.” said Beniamin Mincu, Elrond CEO.
At its core, ChainGuardians is a persistent, multi-world, turn-based, real-time strategy game, which incorporates desirable rewards and transparent economies. The platform employs fungible and non-fungible tokens to encourage its user base to engage, explore and earn rewards and the respect of their peers.
The meta gaming aspects of ChainGuardians allow NFTs from other games to be used on their platforms and, likewise, ChainGuardians NFTs to be used on other platforms.
The platform encompasses multiple different blockchain ecosystems and adds gamification elements, which lead users to discover new blockchains and engage with their specific opportunities.
Our collaboration will add the Elrond blockchain ecosystem into the platform’s scope, enabling its players to discover us through fun activities.
On a technical level, the ChainGuardians team will explore Elrond’s capabilities related to smart accounts, which enable true asset ownership. This is of particular interest for the company’s goal of creating a meaningful DeFi ecosystem around NFTs resulting from their games, with innovative mechanisms such as NFT appraisals and using the resulting value in DeFi products.
Elrond’s fast and inexpensive transfers are also considered for the platform’s expansion, to offer additional convenience and cost efficiency to its users.
“We were pleasantly surprised to find like-minded gamers on the Elrond team, who understand the kind of challenges we’re taking on. Together we were able to discover how the unique capabilities of the Elrond blockchain can help us overcome some of the obstacles, and perhaps even broaden the spectrum of opportunities for our long term development.” said Robbie Cochrane - Co-Founder and COO of ChainGuardians.
The integration is important for the Elrond ecosystem because it is one of the first collaborations to explore our innovations in the area of Smart Accounts, ESDT & NFT tokens and Smart Contracts, in addition to the benefits of our high throughput and inexpensive infrastructure.
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
ChainGuardians is the world’s first blockchain meets superheroes gaming ecosystem; combining traditional gaming concepts with blockchain technologies. ChainGuardians boasts the world’s first NFT Mining Game and awe-inspiring anime style artwork.