One of the biggest recent trends in blockchain is the gamification of trading and liquidity mining. This has caused a DeFi (decentralized finance) boom where users stake currencies and perform complex multi-platform strategies to find the best yield. These same users are taking their talent to the world of digital art (NFTs) to mine, collect, trade, and profit off of digital art.
Within this ecosystem, it has been a challenge to know which platform to use as the landscape is still very fragmented. One company, AnRKey X™ has made an all-in-one platform that has combined DeFi, NFTs, and eSports into a new sub-industry called m$ports™ (Money Sports.)
To learn more about this ambitious project, we spoke to AnRKey X™ CEO and Founder J.D. Salbego, a seasoned blockchain entrepreneur and speaker, to dig deeper into the concept.
1. The whole ecosystem of AnRKey X™ revolves around its native $ANRX arcade coin (token). Where on AnRKey X™ can the users utilize these tokens?
This has been one of our key considerations from day one. We understand the complexities involved with DeFi and the potential burden on a user’s mind to get acquainted with all the fancy terms in this space which is why we developed gDEX.
gDEX is our Decentralized Finance Gaming Platform Exchange. It has similar functions as any other decentralized exchange and liquidity mining platform but is very unique as its a DeFi based “gaming” platform utilizing our proprietary NFT models. The competitive team eSports component comes into play in a major way too. In essence, our gDEX provisions a multifaceted mechanism which allows the users to utilize their $ANRX tokens as easily as possible.
As for how it works, the gDEX operates with a price oracle wherein the oracle establishes the token value by taking into account the trade prices of different tokens at the end of each block in the blockchain and performing certain calculations over these prices over time. This allows our marketplace to maintain price stability which is yet another major barrier for a typical DeFi application.
And this is just a 30,000 feet view of our Decentralized Finance Gaming Platform Exchange. It gets even more interesting when we get into the technical and gamification details, our Automated “Fair Market and Economic Logic Models of our platform protocol, what calculations are performed, and how the oracle establishes a price which removes the possibility of market manipulation.
2. How exactly will users utilize our gDEX?
Our $ANRX arcade coin has 12 medium-of-exchange utility functions, and works just like an arcade coin used at a physical video arcade. The more you utilize its multiple functions to purchase, play, stake, sell, and compete, the more you earn $ANRX within the gaming system. Our utility mechanisms enable a truly vibrant and robust economic ecosystem that is logic modeled to stimulate high growth with the True Derived NFT Base Value of our Ecosystem.
From the perspective of usability, the following functions allow the user to utilize the $ANRX arcade coins on the platform through our games:
- Buy packs of Sacred Relics NFTs
- Buy Arms
- Buy upgradable Armaments on Golden Chalices NFTs
- Buy/sell & margin trade Golden Chalices NFTs on gDEX Aftermarket section
- Buy, Sell, and Trade AnRKey X™ Universe Side Chain Collectables Line on Marketplace
- Earn Rewards
- Earn Profit Share from our gDEX
The marketplace is bifurcated into 3 types to provide further simplification for the user:
- First one is the gaming platform part of our gDEX that allows the purchase of in-game item Arms and Relic Pack NFTs.
- Second is the 24-h Flash Sale Aftermarket which allows game winners to upgrade their prize Golden Chalice NFTs and trade or use them in next week’s game.
- Third is our marketplace to trade AnRKey X™ Universe Side Chain Collectables Line.
For instance, a user can go to our gDEX, join a pool army of their choice, and buy packs of boosted Sacred Relics NFTs. These in-game NFT packs are created by the AnRKey X™ organization and sold on our gDEX. The Sacred Relics NFTs can then be staked by the user as a part of yield farming. Further, a user can also purchase Arms to get another boost. As well, users can continue to stake in their team’s Pool Army.
To ensure that a user is not able to dominate the system by buying unlimited amounts of these packs, this system is completely randomized along with a limit on the total number of Relic NFTs that a user can own. Also, a user never receives high yield packs every week as the system takes care of that too.
We have spent a lot of time carefully designing fair market and self-balancing economic logic models in our protocol to ensure safety for our users.
3. So, does this mean that your platform will provide a fair chance to all the players?
Yes. By implementing such solutions along with others in our fair market economic logic models, we make sure that there are no market manipulations on AnRKey X™. By making the platform truly decentralized, automated, and self balancing the participants will have no control over the market which restricts users from continuously winning the game.
One key part of this solution is the restriction on the amount of NFTs that a user can own. If this restriction was not there, a user could potentially buy a ridiculous amount of $ANRX, buy a ridiculous amount of NFTs and get a ridiculous boost allowing them to win every time. As a side benefit, this increases the competitive nature of the game which further piques the interest of the users exposing them to a unique experience.
Just as the Bitcoin miners get rewarded randomly for solving a cryptographic puzzle, in the same way, the participants of the pool army that wins a game each week will recieve rewards, randomly, in the form of highly valuable and rare prize NFTs on our AnRKey X™ gDEX. This leads to a truly randomized fair market where the high competition sustains the interest of the user leading to more participation and usage and rewards of $ANRX arcade coins in the game.
On the technical side, this randomization of the participants receiving NFTs is achieved through a decentralized protocol – similar to the Chainlink VRF Random number generator.
4. Are you looking to integrate other exchanges too?
Yes our platform will interact with most DEXs since we’re DeFi based liquidity mining and farming games. In our first game Battle Wave 2323™ especially, which utilizes the biggest pools on Uniswap, one of the first places a user goes to start playing our game is to go to Uniswap to get the LP token from our shared pools. Our future games won’t all utilize other DEXs and existing pools in the market.
Our $ANRX “Coinomics” are very self sufficient in their economic functions. There are a lot of amazing partnerships with other NFT projects, marketplaces, artist collaborations, and blockchain gaming companies in the works. As well, we have some very unique and exciting game concepts in development, with 2 more already completed and ready to be released soon after Battle Wave 232™.
5. Any other future plans with respect to games or user interface?
First and foremost we are a DeFi-based game studio utilizing NFT technology with experience driven in-game assets as well as our AnRKey X™ Universe Side-Chain NFT Collectables line which are just as exciting as the game itself as you can see from a quick snapshot of our digital story book website. We already have 2 more games ready to be released after our first one Battle Wave 2323™.
All just as exciting and all with unique gamification, game concepts, NFT in-game asset design and artistic vision, and many more exciting things. Furthermore, as it pertains to the basis of all our games – our Automated Economic Logic Models, Fair Market and Self Balancing System, and Derived Base Value formulas of our NFTs is our foundational software and economic logic model stacks that all our games are built on. So as all the games are unique they all have our solution based innovations embedded in them all in our protocol.
This is a Contributor Post. Opinions expressed here are opinions of the Contributor. Influencive does not endorse or review brands mentioned; does not and cannot investigate relationships with brands, products, and people mentioned and is up to the Contributor to disclose. Contributors, amongst other accounts and articles may be professional fee-based.