Nonfungible tokens, better known as NFTs, have gained value, with some selling for thousands, tens of thousands and even millions of dollars. While this spike in value is promising for investors, it does little in proving the asset's long-term value compared to the top of a price bubble. Therefore, for digital assets to sustain their worth over the long term, something else is missing in the equation. That something is utility, which considers how the asset can be used or what a user can do with it.
Most NFTs are focused on digital art, which only holds appeal to a niche audience, including avid collectors and speculative investors. Fortunately, given these same digital assets, utility is already being tested in the form of playable NFTs. In this utility later, NFTs will take on the intersection of finance, art, entertainment, utility and social status.
ZionVerse showcases this combination of features in their Indian mythology-inspired universe and the first launch of Lakshmi NFTs. For those unfamiliar, the Goddess Lakshmi is the focus of Indian prayers on the day of Diwali.
Modeled after the goddess, NFTs are said to be both a good luck charm and a gamified deposit of USDC, each holding their own GPA or gold procuring ability, a factor that declares their rarity. By combining Web 3.0 gaming and decentralized finance (DeFi), the ZionVerse platform can provide non-inflationary returns and unlimited interactive entertainment. As a member from their team puts it,
“ZionVerse brings a user-generated gaming platform to Web 3.0 through playable NFTs which provide 3D voxel art, music, access to yield strategies including yield farming on stable coins, perpetual-spot arbitrage on ETH, etc.”
The result is that the ZionVerse and
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