GoFungibles is Empowering Artists, One NFT at a Time
GoFungibles is the DeFi-powered platform for creating, trading, earning, and leveraging non-fungible tokens (NFTs). That features gamified yield farming, staking, and incentives. GoFungibles tackles the current concerns of:
- NFT illiquidity
- And utility, while lowering entry barriers in NFT marketplaces.
GoFungibles is a decentralised NFT agnostic platform that also attempts to address the industry’s existing difficulties while also providing a unique combination of tapping into both DeFi and gaming at the same time.
Some of their unique characteristics include:
- The capacity to break down barriers and silos through fractionalized NFT ownership and the flexibility to accept NFTs from any artist or content producer, are particularly appealing.
- To sustain such a strong community, we needed a solid backbone to take the wheel, which comes with a sustainable NFT solution for the future of DeFi NFTs and GameFi.
- The platform will consist of an NFT marketplace- the foundation of GoFungibles, with all of the characteristics of present NFT markets, but with DeFi functionality and a staking mechanism that allows users to profit on their value NFTs. As a result, the platform empowers users via NFT and enables them to engage and monetise their involvement via DeFi.
- The ecosystem will also allow individuals, innovators, and organisations to use NFTs and next-generation token features with minimal friction.
- GoFungibles will also address rising market fragmentation by decreasing entry barriers, removing gas fees, and simplifying the user experience by implementing an Ethereum Layer-2 solution.
GoFungibles’ initiatives will be focused on keeping the platform blockchain and market neutral. We’ll abstract the blockchain’s complexity to give a user-friendly interface and a familiar “Shoppers” experience by using standard eCommerce elements to minimise adoption obstacles.
Minting and trading new NFTs will be significantly less complicated than other platforms, and multiple interoperable wallets will be offered.
Thus, the two pillars to support this ambitious ecosystem are its two prime tokens; $GFTs and GT. The $GFTS token is based on Ethereum’s ERC-20 token standard, whereas GT is a virtual currency That may be used for a variety of reasons within the game. Using seamless price oracles, GT can be swapped for $GFTS.
- GT (in-game currency)
GT (in-game currency) may be acquired by playing the game daily. The amount earned is determined by a range of metrics, including how well a player performs versus opponents in PVE mode, the number of rare gems gathered in a single battle, and the number of daily chores completed. GT may also be used to purchase gemstones, which can personalise characters and do a variety of other things.
- $GFT Governance and Utility token
$GFTS is a governance and utility token that may be used for various things, including running the GoFungibles economy and voting rights in a decentralised governance system. $GFTS will be used to enhance in-game characters and to harvest a new NFT by fusing artefacts. The token will be burned to accomplish each upgrade.
In Multiplayer mode, $GFTS will be required to be staked to compete against other players. It may be acquired by simply playing the mobile game, being active on the platform, using DeFi services like staking/farming, or purchasing from several listed exchanges.