Non-fungible tokens, better known as NFTs, have grown in value, with some selling for thousands, tens of thousands, and even millions of dollars. While this spike in value is promising for investors, it hardly proves the long-term value of the asset relative to the top of a price bubble. Therefore, for digital assets to retain their value over the long term, something else is missing from the equation. This something is utilitarian, considering how the asset can be used or what a user can do with it.
Most NFTs focus on digital art, which only appeals to a niche audience, including avid collectors and speculative investors. Thankfully, given those same digital assets, utility is already being tested in the form of playable NFTs. In this utility later, NFTs will take on the intersection of finance, art, entertainment, utility, and social status.
ZionVerse presents this combination of features in its universe inspired by Indian mythology and the first launch of NFTs Lakshmi. For those unfamiliar, Goddess Lakshmi is central to Indian prayers on Diwali.
Inspired by the Goddess, NFTs are said to be both a lucky charm and a gamified deposit of the USDC, each holding its own GPA or gold supply capacity, a factor that declares their rarity. By combining web 3.0 gaming and decentralized finance (DeFi), the ZionVerse platform can deliver non-inflationary returns and unlimited interactive entertainment. As one member of their team puts it,
“ZionVerse brings a user-generated gaming platform to Web 3.0 via playable NFTs that provide 3D voxel art, music, access to yield strategies including yield farming on stablecoins, perpetual arbitrage on ETH, etc.”
The result is that the ZionVerse and associated NFTs are positioned to be more than a file extension; it is a truly decentralized metaverse gaming system.
Where NFTs Meet Indian Mythology
All ZionVerse content is based on Indian history, culture and mythology, considering the balance between good and evil, and sometimes order and chaos in an eternal battle to succeed each other. The result is a nature that is both eternal and in a state of permanent flux, the heart of Indian mythology. The cyclical transition from one Yuga or age to another is rooted in this belief. There are said to be four Yugas, each ending in a new battle of Order and Chaos, a balance held by a Trimurti or “three forms”, each its own form of energy.
Here, the ZionVerse turns into a battle between these different energies, where each Zion must take the path of their choice, one that adheres to their most genuine desires. The caveat is that this path is likely to fall on the side of order or the side of chaos. Demonstrating the great depth of culture, the ZionVerse team aimed to connect with the broad audience that resonates with these values.
Along with the showcase of culture is the sustainability of the digital economy, a key part of what ZionVerse hopes to achieve. For this reason, they are also introducing many DeFi components through the introduction of their Genesis NFT. Through this arrangement, investment, business staking and economic value are given to the community.
In the Lakshmi NFTs example, users will earn 108% APY in USDC, paid monthly for one year in non-inflationary returns, in addition to the 3D model and spatial audio users would expect in a standard NFT.
Proving the value of this idea, Lakshmi’s 5555 NFTs were sold in 19 days, at 101 USDC each, bringing over $560,000 to the platform.
Live a digital life
To give NFTs their usefulness, ZionVerse has developed a place for holders to have fun and effectively live their digital lives. Taking shape in their composable gaming platform, players will participate in a user-generated gaming platform hosted on the Unity game engine, on technology inspired by Minecraft. The engine itself is 3D voxel-based, integrated into Minecraft content to continue progress in the ZionVerse. They believe their model-based form of game creation can make user-generated games possible, similar to what TikTok has achieved for videos.
The team has received funding from institutional investors including Mayfield and Leo Capital, as well as partnerships with Vauld, Ranveer Allahbadia and Akshat Shrivastava, the second largest financial Youtuber in India.
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