AUSTIN, TX / ACCESSWIRE / April 26, 2021 / 2021 is shaping up to be a blockbuster year for the blockchain industry with Bitcoin and other cryptocurrencies breaking new ATHs, Coinbase debuting its IPO at record valuation and the advent of NFTs taking over the digital world by storm.
Whether it's Beeple selling his artwork for a $69.3 Million, or NBA top shots grossing over $230 Million, not only is there a massive market for NFTs but it cuts across the social divide.
The Covid-19 pandemic has driven people into the virtual world, as evidenced by a massive spurt in social media usage and skyrocketing revenues for multiplayer games like Fortnite and PUBG. On the other hand, excess liquidity in the economy has forced people to explore new avenues for investments and better safe havens. This has led to NFTs taking the center stage and becoming an asset class of their own.
The Unstoppable Growth of NFTs
The NFT segment grew in size from $400 million in gross sales for the whole of 2020 to more than $1 billion in Q1 2021 alone.
People have spent more than $230 million buying and trading digital collectibles of NBA highlights. Artists are putting their work on the digital space through NFTs. Musicians are jumping into the fray with Grimes, Kings of Leon and others releasing their work as NFTs. Game developers are crafting ways to turn ingame collectibles into NFTs.
Evolution of NFTs in the Crypto Universe
There have been many attempts to bring gaming and NFTs into the cryptosphere for a while now. The first NFT collectible cats known as Crypto Kitties briefly broke the Ethereum blockchain back in 2017. Subsequent projects such as Ethermon with its virtual pokemonesque game and decentralized VR- based gaming platform Decentraland tried to build on those foundations.
However, it took 4 long years for the ecosystem and the tech to evolve to a point where the average joe could not just safely buy an NFT but actually use it in an immersive game with thousands of people around the world. More importantly, by infusing elements of DeFi, not only do these NFTs now have an immutable identity but also retain a sustainable investment value for the long run.
Connecting NFTs, Gaming and DeFi
Legends of Crypto is a blockchain and DeFi powered game with yield-generating NFTs and a native marketplace. Dedicated to famous crypto industry characters, LOC game is a groundbreaking type of Top Trump Card Game on blockchain where players can win valuable tokens and NFT items, while card owners can earn rewards from prize pools.
Legends of Crypto, along with other games such as Aavegotchi and Superfarm, fuses DeFi elements, allowing users to farm new NFTs and earn native tokens for playing.
By leveraging Decentralized Finance and DAO governance, Legends Of Crypto is creating a sustainable, enjoyable and fun playing game ecosystem.
Speaking about LoC game's upcoming launch, Lars Jacobus, co-founder of Evangelion Capital, said "Innovative ideas like Legends of Crypto can slice through diverse markets by combining the thrill of gaming, the revolutionary idea of DeFi and the allure of NFTs. The card game is immensely popular around the world and minting provably rare NFT cards with characters well-known in the cryptocurrency space is just brilliant. We were enthralled by the idea proposed by LOC game on first glimpse. The fact that these NFTs are also integrated with DeFI elements allowing users to farm new NFTs and earn native tokens for playing is ingenious. LOC game is truly a pioneer in this unique cross section of NFTs, Gaming and DeFi, and we're glad to be a part of the journey."
Backed by some of the biggest names in the blockchain industry such as Genblock Ventures, Moonwhale Ventures, Terra Virtua, Evangelion Capital, Block Dream Fund, AU21, Signum Capital, LD Capital among others, LOC game is launching its much awaited token sale through DAOmaker's SHO on April 27, 2021.
SOURCE: Evangelion Capital