Play-to-Earn games using DeFi and NFT mechanisms have become very popular over time. In the world of blockchain-based crypto games, the Kingdom of DeFi got a lot of attention today.
JEWEL tokens have recovered after the long-awaited game “Crystalvale” was released on Thursday. Crystalvale runs on the DFK chain and is one of the first games to use the crosschain. JEWEL’s 24-hour trading volume increased 102.45% shortly after launch to US $ 116.9 million.
DeFi Kingdoms perform Crystalvale gameplay transactions over the DFK chain. Crystalvale also hosts Crystalvale DEX.
The DeFi Kingdoms Blockchain (DFK Chain) is built in partnership with Avalanche using Avalanche’s subnet technology. In a tweet, DeFi Kingdoms announced a week-long promotional drive where you can buy Avalanche (AVAX) for free.
The gaming platform also announced its integration with Coinbase Wallet on Thursday.
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Play-to-Earn games are still in the early stages of development, but DeFi plans to launch player-versus-player and resource-gathering capabilities in the future.
The popularity of DeFi Kingdom has been diversified since its launch. Blockchain games have benefited from soaring gas prices and looking for opportunities for users to minimize costs.
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With the expansion to the avalanche and DFK chains, DeFi Kingdom expects strong growth.
Users need to go to the in-game Dockmaster Maria and switch from the old Serendale to Crystalvale. This Serendale dock sets up an in-game bridge to the DFK chain.
After the user bridges the JEWEL used for gas charges in the DFK chain, the protocol automatically exchanges the JEWEL bridged in the DFK chain for a native gas token.
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New users must first set up their wallet with either a Coinbase Wallet or a Metamask Wallet. After a successful wallet installation, you can choose to access Serendale or Crystalvale. Depending on what you choose, you will need to purchase tokens related to the blockchain of the game.
Serendale requires one token to use on the Harmony blockchain. Also, for Crystalvale, you can buy AVAX at Avalanche for use with the DFK chain.
The platform attracted 17,275 new users, according to the latest tweet from ET around 11:10 am. According to the tweet, JEWEL: xJEWEL Ice Garden pool APY is currently 4231%.
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Data source: coinmarketcap.com
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Jewel Token Details:
Jewel is a native token of DeFi Kingdom. Used to buy NFTs such as heroes and kingdoms. You can also bet tokens on the liquidity mining pool to earn a yield.
DeFi Kingdoms (JEWEL) tokens rose 11.91% to US $ 10.88 on Thursday at 10:27 am.
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The current market capitalization is US $ 685.88 million. JEWEL’s self-reported circulation supply is 62.75 million jewels, the total supply is 320.11 million jewels, and the maximum supply is 500 million jewels. Hotbot, DeFi Kingdoms, MEXC, AAX and BigONE are cryptocurrency exchanges where you can buy JEWEL tokens.
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Conclusion:
The crypto market is volatile and prone to fraud. Therefore, investors need to be careful when investing in the field of digital assets.
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