1500 Duck Farms and 8 Million in Monthly Volume
San Francisco, CA, Sept. 15, 2021 (GLOBE NEWSWIRE) — Waves.tech, an ecosystem of innovative blockchain solutions and products leveraging Waves.protocol, today announced the integration of fractional ownership ‘Collective Farms’ inside its native NFT gaming platform Waves Ducks, making it one of the first projects to integrate this type of gamification incentive. These new game incentives have been added on top of existing DeFi and yield farming mechanics to broaden accessibility and help players generate an income through play-to-earn.
Axie Infinity protocol revenue surged 85% in the last month to reach $364 Million in August 2021. Play-to-earn game similar to Axie, Waves Ducks attests to similar growth spikes. Waves Ducks lets players purchase, breed, and trade digital ducks, which take the form of NFTs. In addition players of Waves Ducks can farm their ducks to generate $EGG tokens as a passive income stream.
Navigating the Double-edged Popularity Sword
Given the spike in popularity of NFTs in the last month, Waves Ducks has been a true catalyst for growth in the Waves ecosystem now in the Top-10 NFT marketplaces, resulting in over $2 Million in weekly sales volume, $25 Million lifetime, 70,000 active players and 15,000 ducks created. The popularity of the NFT-based game has also driven its native $EGG token to reach all time highs surpassing $2,468 with the most expensive duck (Phadadch #13066) selling for $22k, creating a barrier to entry for many potential players.
Fractionalized Tipped the Secret to NFT Gaming Adoption
Owning a fractional share of an NFT could be the new-normal and the key to welcoming the masses into NFT gaming via lower value, microtransactions.
“We want to increase accessibility that would otherwise be out of reach for many, where the value and upside is shared by supporters. Democratizing access allows anyone regardless of the size of their crypto wallet to earn commission,” said Sasha Ivanov, Founder of Waves Protocol.
Whilst fractional ownership of the Doge meme surpassed $400M valuation, the opportunity is in collective membership. For Waves Ducks, the promise of fractionalized NFT gaming is in enabling microtransactions for the many, meanwhile pooling collective yield opportunities, derisked by DAO governance.
Fractional Duck Farming Of The Future
To solve for the high entry floor price, Waves has introduced this week Collective Farms, a form of fractionalized ownership that gives players a chance to enter the game with minimal entry point as little as 0.01 $EGG. Once there are enough funds to form a farm (i.e. minimum 3.3 EGG to hatch one duck and 1 $EGG to perch it), players get shares in the farms and share tokens to represent their stakes. While farm managers get a commission for managing them.
Collective Farms that have the most ducks and the rarest ones, will be generating the most passive income for their players. Each collective farm has its own LP (Share token) token which can be resold to get your invested eggs back. In the future, the game will be DAO driven where farm owners can decide together the strategy to maximize return.
What The Future Of Fractional Ownership Holds For The Waves Ducks Community
Breaking down barriers to ownership through fractionalized ownership is just the beginning of the next NFT s-curve. The future holds much more for the gaming functionality of Waves Ducks. In exciting roadmap teasers, Waves will debut a new gameplay feature called Ducks War, where farms will have the opportunity to battle each other. Waves Ducks will also invade the Metaverse, eventually having the ability to be utilized in other games.
Waves.tech is an all-encompassing ecosystem of innovative technologies advancing technological frontiers for the pioneering developers of tomorrow and adopting them for everyday practical implementation. Leveraging the three practical and powerful blockchain protocols, Waves.tech provides both developer-friendly infrastructure as an experimental ground for innovation and ready-to-use tools and products demanded here and now.
CONTACT: Maxim Pertsovskiy Waves [email protected]
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