AFKDAO is a DeFi infrastructure for utility NFTs. They believe that the value of utility NFTs comes from the high utilization 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 find out more about the AFKDAO project and if it’s worth it.
What is AFKDAO (AFK)?
AFKDAO is a decentralized protocol that increases the accumulation of savings played to win. It gives potential investors easy access to access investment opportunities in game projects and metaverses through initial offerings of game resources and automated game-for-win strategies, bringing together game projects, guilds and players from a project base. Through the governance of DAO, the community will be able to decide portfolio games, admit guilds and money strategies in DAO’s best interest, creating the strongest and most important player syndicate in the game to win.
AFKDAO aims to differentiate itself by offering a loan protocol similar to Compound Finance for widely accepted gaming assets. In doing so, AFKDAO simplifies borrowing and lending, allowing both businesses to take place at any time. NFT owners will be able to stake their assets at any time and earn dynamic interest.
Additionally, 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 prize tokens depending on the pool as collateral. The guarantee will be used to compensate creditors or any discrepancy between the total income generated during a billing cycle and the minimum allowable return. In the future, AFKDAO also plans to introduce an Oracle for NFT and unsecured loans.
- Game Asset Launchpad – Get early access to revenue-generating gaming 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 are 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 resource launch platform (IGO launch). The project also offers guilds and whitelisted professional players the ability to create their own staking pools where NFT owners can rent game assets and earn income. The AFKDAO selects and examines all resources 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 via Mystery Box, Auction and Fixed Price Sale. To participate, members must have an AFK badge and wager $ 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 $ AFK amount wagered. The purchase of IGO items is subject to a fee. The project charges 10% of the IGO mystery box sales 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 tax to the Treasury and burns the remaining 50%. The Game Aggregator allows NFT owners to manage their gaming assets through an interface that looks almost like a DeFi returns aggregator with automated P2E strategies. In particular, AFKDAO has a delegation protocol, which allows anyone who owns ERC-721 and ERC-1155 game resources to rent them without problems on the 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 loans and loans, which help unlock the liquidity value of gaming assets and abstract the inefficiencies of the NFT loan. 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 funds in the treasury. The role of the treasury is to monitor platform resources, simplify financial allocations, maximize asset management efficiency, and strengthen the guild’s earning performance.
DAO for projects, actors and investors
- For Gamers – Players can access ready-made game resources with high return potential at a very early stage. Professional players 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 visualizations that help drive the gaming ecosystem
- For investors: no time, no skills? No problem! Enjoy play-to-win auto strategies with 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 amount of the AFK cryptocurrency auction is 1,000,000,000. The token will be used to mint AFK badges that grant access to different levels of special rights and benefits, AFKDAO aims to become the largest DAO economy in the metaverse. The commissions 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 submitting proposals, voting on proposals relating to treasury matters. The AKF DAO founding team will handle the primary responsibility of the DAO. As the community grows, $ AFK token holders will reign together. The DAO should organize activities for members:
- For regular / daily submissions: Members can vote via Discord or the website.
- For large operations such as resource management, incubation of new projects, investment in projects. The assets are managed in a chain with smart contracts and determined by the vote of the members.
- DAO members can vote to allow multiple subscription of resources / projects
- DAO members can vote to authorize DAO contract exchange requests
- DAO members can vote to determine the strategy of the DAO system
- DAO members vote for $ AFK token, $ AFK token is a representation of voting rights.
Where to buy the AFK token?
AFK token can be purchased on several major cryptocurrency exchanges, some of the largest are: KuCoin and Bitget.
AFKDAO (AFK) Price Forecast
AFKDAO price is likely to hit a high of $ 0.0237 throughout 2022. According to our Crypto Price Prediction Index, in 2023, AFKDAO (AFK) price could hit a high of $ 0.0457, with an average trading price of $ 0.0340. According to our Crypto Price Prediction Index, AFK is expected to break above an average price level of $ 0.0551 in 2025.
The low expected AFKDAO price at the end of the current year is expected to be $ 0.0508. Additionally, AFK can hit a maximum price level of $ 0.0561. AFKDAO’s price is likely to hit as low as possible of $ 0.0487 in 2030. According to our Crypto Price Prediction Index, AFK’s price could hit a possible high of $ 0.0899, with an expected average price. of $ 0.0677.
The play-to-win mechanic allowed players to share the profits of growing a game for the first time and can now turn their skills into a source of income. However, the new designs may have a hard time attracting real players and increasing their in-game savings, while their twisted 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 creates a gateway for anyone to easily join the game to win, while projects can increase their savings and players can have fun and shine. PortalCripto hopes the article has clarified everything about the AFKDAO project.
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* PortalCripto values the quality of the information and certifies the verification of all the contents produced by its team, underlining however that it does not formulate any type of investment recommendation, as it is not responsible for losses, damages (direct, indirect and ancillary), costs and failure I earn.