Place/Date: - April 20th, 2022 at 8:41 pm UTC · 6 min read
Source: ADA Demon
The introduction of play-to-earn games into the cryptocurrency and online gaming industries was a welcome development. Players cherish the opportunity to earn while entertaining themselves with their favourite games.
However, many players and crypto enthusiasts are discouraged by some of the challenges such as substandard games, lack of transparency, and several others that make the P2E subsector uninteresting.
ADADemon is the newest member of the P2E community and was created to address these challenges and offer players a golden opportunity to play on the best platform and earn.
ADA Demon is the pioneer play-to-earn MetaVerse-based ecosystem on one of the leading blockchains – CardanoBlockchain. The first in-depth P2E platform is inspired by the Greek underworld it is themed after.
By introducing a P2E system into the virtual world, ADA Demon is setting the pace in the MetaVerse for game and crypto lovers. It combines entertainment with business, a win-win situation for ADA Demon and its users.
ADA Demon offers entertaining adventure games where players assume the roles of estranged spirits and are mandated to beseech gods, plan their escape from the Greek hell, and battle monsters.
As a part of its efforts to revolutionize the gaming industry, it integrates blockchain and offers players benefits that are lacking on other platforms such as interoperability to non-crypto and crypto lovers, monetization, and digital scarcity, among others.
In recognition of the importance of players to the project, ADA Demon compensates players accordingly, even if they lose a game. The transparency customer-first approach will have a positive impact on players and the project itself.
$AGONY is ADA Demon’s utility token. Gamers can use it to develop their virtual worlds on the Cardano network and commercialize them. It is also used to evaluate each game’s value and as a mechanism for purchase and exchange.
The token is fungible, meaning that you can move or trade it freely while using any of the network’s array of service chains.
The token is an integral part of the ADA Demon project and is designed to connect to the platform and its overall value.
All trading transactions on the platform are conducted with $AGONY tokens. Gamers may trade the game tokens according to their preferences. These transactions will be done at the item exchange and allow gamers to utilize the $AGONY token fully.
You can also use the token to pay for services or goods. Gamers may exchange them for goods and services as well. The project creators allow users to trade their assets for the tokens because they represent the ecosystem’s entire values and are thereby the ultimate asset.
$AGONY token has a vesting period of 3 weeks. At the expiration of this period, the tokens will be distributed to presale investors whose vesting period starts immediately the presale is over. Presale participants will get double their tokens as rewards for their efforts.
For improved functionality of the token economy, investors are advised to retain most of their tokens. Locked tokens allow the ADA Demon team to understand the token’s worth better while it forbids developers from disposing of their tokens as soon as trading commences. That safeguards holders’ and investors’ interests.
ADA Demon’s goals don’t stop at merely creating a metaverse, it aims to create a fully dependent financial ecosystem, and that aim isn’t possible without a Decentralized Exchange(DEX) powering that ecosystem. Trading, Yield Farming, Staking services, etc will also be available to users and partners alike.
Demon DEX will be the Automated Market Maker (AMM) and a Decentralized trading platform (DEX) within ADA Demon, with two ways to access it.
The first way would be physical, through a PC or Mobile device, like normal DEXs, while the second way would purely be virtual and in-game, with a more immersive experience.
The Virtual in-game marketplace would have a lot of similarities to normal real-life marketplaces, but only with everything being handled by “Merchant Bots” powered by smart contracts.
A player could zip into a marketplace and do more than buy and sell tokens, he/she would also have access to amenities such as clothing, weapons, and special items in the form of NFTs.
With this concept already in motion, ADA Demon would become a leader in the DeFi market, since it would be the first of its type.
While the DEX will be compatible with major Blockchains, it’ll tend to have its focus on blockchain-based gaming initiatives. Exchange commissions and liquidity pool incentives will also be given to contributors on the decentralized platform.
ADA Demon would have an integrated DeFi loan service. When borrowing money, borrowers utilize digital assets as collateral, in a similar way that they would use real estate or a vehicle as collateral for a mortgage or auto loan.
This aspect would also be similar to the Demon DEX, as characters would be able to visit a virtual DeFi loan location and conduct their transactions there.
You won’t have to go through a credit check to acquire a loan, which could be a good choice for people who don’t have the best credit histories. With a crypto-backed loan, you may be able to get a better rate than you would with a traditional personal loan.
The team behind ADA Demon is very dedicated to making its vision a reality, as this would take the technology a step further into human advancement.
ADA Demon is not a regular play-to-earn platform. Its awesome features ensure that players can improve their financial status while entertaining themselves. It has a mechanism that helps them overcome most of the challenges plaguing other platforms while helping them monetize their skills.