CoinEx | Can DeFi Land, a Multi-chain Gaming Platform, Become the Next Axie in the Solana Ecosystem?
The 2021 Solana Hackathon attracted over 13,000 developers from all over the world. Participating teams standing out from the 350 projects submitted to the Hackathon will surely be favored by followers of the Solana ecosystem. In particular, one project won second place and received support from the Grants provided by the Serum Foundation. Plus, it also became one of the 5 Play to Earn games that Solana is focusing on. The project is called DeFi Land, a gaming platform that promises to make DeFi as easy as farming.
DeFi Land is a multi-chain agriculture-simulation game that combines DeFi with GameFi and gamifies DeFi protocols. It aims to introduce users to DeFi while they’re playing the game. DeFi Land is built on Solana, which is the first public chain chosen by the DeFi Land team for the launch of their project because of its fast transactions, low costs, and great user experiences.
DeFi Land, founded in 2021, is owned by an India-based company that focuses on creating educational and entertainment solutions for users looking to explore the DeFi space. The platform is built by a team of five crypto veterans who have been studying the DeFi industry for a long time. They have led successful companies in multiple sectors, covering AR, VR, AI, game, fintech, and ERP, and worked with the largest banks and retailers in many regions. According to informed sources, all members of the team have received training in computer science, with a strong business record.
DeFi Land covers all the features that can be found on a conventional DeFi platform. However, unlike most DeFi platforms, it offers an interoperable ecosystem that can run on other well-known platforms such as Uniswap or PancakeSwap (Binance Smart Chain). This means that when farming in the game, players will tap into different mining pools or staking platforms through the interface of DeFi Land.
In DeFi Land, each asset represents a currency. For example, SOL is equivalent to sunflower, USDC is corn, and COPE represents pumpkin. These assets will be used for the events that traditional DeFi offers as well as other upcoming activities that introduce DeFi to beginner players through interactive, entertaining, and intuitive ways.
DFL, the native token of DeFi Land, is used for platform governance. The token is also used as in-game rewards for players, allowing them to engage in stake mining while competing and betting. Using DFL, players can build customized lands, buy skins, purchase NFTs from the marketplace, and tip friends. Plus, the token can also be used for other upcoming features in V2. DFL, issued in November 2021 with a total supply of 10 billion, is now listed on exchanges such as CoinEx, FTX, and Gate.io.
The game is still going through internal testing, and the V1 beta version will soon go online for public testing. V1 will cover basic functions such as swap, liquidity provision, and stake mining. According to the roadmap found on its official website, the team plans to release the official V2 version in the first quarter of 2022. DeFi Land V2 will include functions such as lending, indices, and the NFT marketplace. Moreover, players will be able to engage in interactive chats and predictions & betting in the game while tapping into functions like unions, clans, and battling. They could also participate in tournaments and have fun with other mini-games. Plus, the V2 version will also support networks that include Ethereum, Terra, and BSC.
Last September, DeFi Land received a $4.1 million seed funding from investors that included Animoca Brands, Alameda Research, Jump Capital, NGC Ventures, Solana Foundation, Gate.io, Youbi Capital, and Coin98 Venture. It should be noted that this lineup includes Youbi Capital, an institution that invested in many well-known blockchain projects like AAVE, Chainlink, and Polkadot, as well as other esteemed institutions, such as NGC Ventures, one of the largest institutional owners in the crypto space, and Animoca Brands.
Although DeFi Land remains in a stage of internal testing, the gorgeous lineup of investors and its simple DeFi gameplay have gained the game tremendous market recognition, making it one of the most anticipated game projects in 2021 of many Solana users. Let’s wait and see whether DeFi Land will become the next Axie in the Solana ecosystem.