Bugis, Singapore--(Newsfile Corp. - November 30, 2021) - Play-to-earn economies have enhanced the essence of blockchain, and with CoinFantasy in this space, GameFi will see a massive shift. CoinFantasy will now be integrated on Avalanche, which will enable fantasy gaming on the platform to be faster and more seamless than ever.
CoinFantasy is a decentralised Play-2-Earn fantasy gaming platform in which users need to pick a lineup of crypto tokens within the budget provided. Based on the performance of the crypto tokens, users can win prize money.
On the other hand, the Avalanche network allows for the development of decentralised applications (dapps) and custom blockchains. Avalanche is the quickest, open, programmable smart contract platform for decentralised applications in the blockchain as measured by the time-to-finality while having the most validators confirming its activity of any proof-of-stake protocol.
The Avalanche network can handle up to 6,500 transactions per second without losing scalability. This is possible thanks to Avalanche's unique architecture. CoinFantasy will now bring fantasy gaming onto the Avalanche ecosystem, alongside projects such as Play Crabada and YAY Games. The CoinFantasy integration will diversify the Avalanche ecosystem and add more value to the Play-to-Earn economies as they continue to go parabolic.
The integration will enable users to play fantasy gaming for crypto-stock markets on Avalanche. Users can learn about different asset classes without being exposed to the volatility of the assets by purchasing the actual asset. As users level up in the platform, they can mint NFTs of different rarity levels in the game. NFT users also gain exclusive access to CoinFantasy's metaverse. It opens a gateway to events, collectables and in-game merchandise.
AVAX's recent price trend may be credited to several bullish factors, including big-name collaborations, increased DeFi activity, and the introduction of a new fund to grow Avalanche-based projects.
Since the end of August this year, when the network's total value locked (TVL) first surpassed $1 billion, activity on Avalanche has exploded. In terms of TVL, it took the network around three months to increase tenfold.
Blizzard, a new fund with more than $200 million focused on strengthening the network's environment, was established earlier this month by the Avalanche Foundation. This funding will support initiatives in areas like DeFi, NFTs, and corporate applications, among others.
The new fund will investigate other developing use cases, including security token issuances, liquidity providers, and self-sovereign identification.
Prior to that, Polychain Capital and Three Arrows Capital organised a private token sale to generate $230 million for the Avalanche Foundation.
Last month, the network received a boost when it was included on Coinbase's professional trading platform and in the exchange's wallet.
The crypto industry will become more gamified than ever before with the two powerhouses together, with play-to-earn economies leading the way. The process of gamifying financial markets appears to be thrilling and fascinating.
About The CoinFantasy
CoinFantasy is the world's first decentralised fantasy game platform built on the play-to-earn paradigm for crypto-stock markets. We've developed a one-of-a-kind zero-loss gameplay in which players make money simply by playing the game.
CoinFantasy's numerous games aim to gamify crypto-stock markets, operating as a layer two platform on top of the primary markets. It will first offer portfolio management fantasy games, in which anyone can create a crypto/stock lineup and outsmart their opponents to win prizes.
CoinFantasy has recently raised $3.2m+ from Sandeep Nailwal (Polygon, Co-founder), AvaLabs, Magnus capital, Poolz Ventures, Moonwhale ventures and 20+ VCs.
Media Details
Project Name: CoinFantasy
Website: http://coinfantasy.io
City and Country: Bugis, Singapore
Email: harishkarthik@coinfantasy.io
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105822
