AFKDAO is a DeFi infrastructure for utility NFTs. They believe that the value of utility NFTs comes from the high usage rate of these NFTs, including subscription cards, game NFTs, etc. true asset class rather than being tied to single centralized utilities within a game. Read on to learn more about the AFKDAO project and whether it’s worth it.
What is AFKDAO (AFK)?
AFKDAO is a decentralized protocol that increases the accumulation of play-to-win savings. It offers potential investors an easy gateway to access investment opportunities in game projects and metaverses through initial offerings of game assets and automated game-to-win strategies, bringing together game projects, guilds and players from the base of a project. Through DAO’s governance, the community will be able to decide wallet games, admit guilds, and cash strategies in the best interest of DAO, creating the strongest and most important player syndicate in game to win.
AFKDAO aims to differentiate itself by offering a Compound Finance-like lending protocol for widely accepted gaming assets. In doing so, AFKDAO streamlines borrowing and borrowing, allowing both activities to take place at any time. NFT owners will be able to stake their assets at any time and earn dynamic interest.
In addition, they will have access to an indefinite number of players offering different interest rates for NFT loans. The delegator would ensure that creditors only provide access to their NFTs, not their assets. On the other hand, borrowers will have to deposit an optional amount of reward tokens depending on the pool as collateral. The collateral will be used to compensate creditors or any discrepancy between the total revenue generated during a billing cycle and the minimum return allowed. In the future, AFKDAO also plans to introduce an Oracle for NFTs and unsecured loans.
- Game Asset Launchpad – Get early access to profit-generating game assets at a discounted price before they hit the market.
- Gambling Aggregator – Make your gambling assets work for you with automated gambling strategies to win while you’re AFK.
- NFT Liquidity Protocol – Unlock Unlimited NFT Loans and Loan Liquidity with ERC-4610 Protocol
How does AFKDAO (AFK) work?
AFKDAO allows its members to create badges for early access to in-game NFTs through its in-game asset launch platform (IGO launch). The project also gives guilds and whitelisted pro gamers the ability to create their staking pools where NFT holders can rent gaming assets and earn income. The AFKDAO selects and reviews all assets that are activated through the IGO. To ensure that only the best projects make it to the IGO, AFKDAO needs them to have growth potential, sustainable tokenomics, and the ability to continue operating even after facing security risks.
Members can purchase IGO items through Mystery Box, Auction and Fixed Price Sale. To participate, members must have an AFK badge and stake $AFK, AFKDAO’s native token. AFK badges are NFTs that represent the identity of AFKDAO members. There are five levels of badges and they provide access to various services on the platform. Additionally, AFKDAO members receive royalty points called AFK Points. AFKDAO awards AFK Points based on badges and the amount of $AFK wagered. The purchase of IGO articles is chargeable. The project charges 10% of the IGO mystery box selling fee, 3% of the NFT trading fee, and 20% of the NFT auction fee as a service fee.
AFKDAO then transfers 50% of the service charge to the Treasury and burns the remaining 50%. The Game Aggregator allows NFT holders to operate their in-game assets through an interface that almost looks like a DeFi yield aggregator with automated P2E strategies. Notably, AFKDAO has a delegation protocol, which allows anyone who owns ERC-721 and ERC-1155 gaming assets to rent them seamlessly on-chain.
By lending their assets, lenders offer borrowers access to in-game NFTs for P2E purposes without risking their loss. The delegation protocol provides for low-collateral lending and borrowing, which helps unlock the liquidity value of gaming assets. This helps abstract the inefficiencies of NFT lending. AFKDAO’s DAO governance allows members to vote on treasury policies. This includes voting on various topics, including which games and NFTs to accept on the game aggregator and how to use or distribute the funds in the treasury. The role of the treasury is to monitor the platform’s assets, streamline financial allocations, maximize asset management efficiency, and strengthen the guild’s earning performance.
DAO for projects, actors and investors
- For Gamers – Gamers can access ready-made game resources with high return potential at a very early stage. Progamers or guilds can apply to join Game Aggregator and become a true asset manager in the Play-to-Earn metaverse
- For Projects – Projects can launch their own game assets on AFKDAO with game-to-win strategies and guaranteed viewership that help drive the game ecosystem
- For investors – No time, no skills? No problem! Enjoy automated play-to-win strategies with a DeFi-like user experience via AFKDAO
The AFK token powers the AFKDAO ecosystem and allows everyone to benefit from the growth of some of the best projects in the metaverse. The total AFK cryptocurrency auction amount is 1,000,000,000. The token will be used to mint AFK badges which grant access to different levels of rights and special benefits, AFKDAO aims to become the largest DAO economy in the metaverse. Fees generated will be converted to AFK and combined for incentives to increase usage and AUM.
The AFK will also be used to participate in the governance of the AFKDAO, in particular by initiating proposals, voting on proposals related to treasury issues. The founding team of AKF DAO will manage the main responsibility of the DAO. As the community grows, holders of $AFK tokens will reign together. The DAO should organize activities for members:
- For Regular/Daily Proposals: Members can vote via Discord or the website.
- For large task operations such as asset management, new project incubation, project investment. Activities are managed on-chain with smart contracts and determined by member voting.
- DAO members can vote to allow multi-subscription of assets/projects
- DAO members can vote to authorize DAO contract trade requests
- DAO members can vote to determine DAO system strategy
- DAO members vote for the $AFK token, the $AFK token is a representation of voting rights.
Where to buy the AFK token?
The AFK token can be purchased on several major cryptocurrency exchanges, some of the largest being: KuCoin and Bitget.
AFKDAO (AFK) Price Prediction
The price of AFKDAO is likely to reach a maximum level of $0.0237 throughout 2022. According to our Crypto Price Prediction Index, in 2023, the price of AFKDAO (AFK) might reach a maximum level of $0.0457, with an average trading price of $0.0340. According to our Crypto Price Prediction Index, in 2025 AFK is expected to cross an average price level of $0.0551.
The minimum expected value of AFKDAO price at the end of the current year should be $0.0508. Moreover, AFK can reach a maximum price level of $0.0561. The price of AFKDAO is likely to reach the lowest possible level of $0.0487 in 2030. According to our Crypto Price Prediction Index, the price of AFK may reach a maximum possible level of $0.0899, with an expected average price of $0.0677.
The play-to-win mechanic has allowed players to share in the profits of a game’s growth for the first time. Players can now turn their skills into a source of income. However, the new designs may struggle to attract real players and increase their in-game savings, while their convoluted designs still keep most of the DeFi world at bay.
Many don’t have the time or simply don’t know how to play to win. O AFKDAO builds a gateway for anyone to easily join the game to win, while projects can increase their savings and players can enjoy and shine. PortalCripto hopes the article clarified everything about the AFKDAO project.
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What is AFKDAO Coin (AFK) Token, DeFi, NFTs and Price Prediction? | PortalCrypto
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