The future is here — and with it, the way we game is ripe for change.
The days of pay-to-play and free-to-play are coming to a close. In true democratized blockchain fashion, the power is now being handed back to the player behind the screen. Gamers can now live the dream of play-to-earn gaming — and this ain’t your parents’ PacMan they’re playing. Whether they’re raising Axies in Axie Infinity or building the winning deck in Splinterlands, players are now able to earn crypto assets, or NFTs, as they game.
Yet, as more players begin their journey in GameFi, the cost to enter games is rising. For example, to begin playing Pokémon-inspired Axie Infinity, a player must first obtain three Axies to form a dueling team. In the early days of the game, Axies were all but free. By December 2021, they cost between 0.035 ETH and up to 300 ETH, bringing a minimum price tag of ~$450 just to enter the game as a newcomer.
‘Guilds, Guilds, Get Your Guilds Here!’
Players have banded together through ‘Guilds’ to lower this cost. Guilds provide players with the gear needed to play in exchange for a percentage of future earnings. As Guilds continue to grow, players have also begun to seek them out for a sense of community, information and resource sharing, and for some games, party matching for certain in-game quests.
Needless to say, as play-to-earn has blossomed, Guilds have popped. On the popular guild management platform BlockchainSpace alone, there are already nearly 3,000 Guilds and over 700,000 players signed up — and this number grows every day. Yield Guild Games, or YGG, is the largest of these. The Guild can trace its roots back to 2018, and over the past year that it’s been an official organization, YGG has seen its total Guild value scream past $5.4 billion.
New Game? There’s a New Chain for That…
Alongside increasingly unaffordable entry prices for play-to-earn games, Guilds and gamers alike face another problem. Each day brings new games to the market — and while many of these are based on popular blockchains like Ethereum, Solana, or Polygon, many are not. The sheer number of blockchains that host games have led to siloed in-game assets. For example, Axie Infinity operates on its own private game chain named Ronin, while Splinterlands is built on the Hive blockchain. In other words, because these two blockchains don’t speak the same language, players can be rich in one arena and poor in another. The top player in Axie Infinity would be starting from scratch in Splinterlands.
Kyoko: The Common Denominator
That’s where Kyoko.Finance and its cross-chain GameFi NFT lending platform comes into play. Kyoko is a cross-chain GameFi NFT lending market for guilds and players. Its Guild-to-Guild lending, P2P NFT lending, and cross-chain asset lending platform aims to solve the most pressing issues challenging the GameFi market, including the rising cost of entry and siloed in-game assets across different blockchains. Down the road, Kyoko will also release its own metaverse that allows Guilds to display their history, progress, and other accomplishments, while players can connect with others in a world that can be built in, developed, and sold off.
Guilds that need additional liquidity can come to Kyoko’s Guild-to-Guild lending platform and receive credit loans. Loans can be used to purchase ERC-20 tokens or GameFi assets across different blockchains, and Guilds that want higher credit lines can lock tokens into the Kyoko Vault as collateral.
In addition, for every monstrous Guild like YGG, there’s hundreds of smaller Guilds that are brimming with potential but need additional resources to grow. These Guilds can come to the Kyoko platform and apply for the resources they need to take their game to the next level.
Kyoko’s Guild-to-Guild lending will launch in Q1 2022.
P2P NFT Lending
Kyoko’s P2P lending platform provides access for players to lend any type of NFT for ERC20 tokens. Borrowers can come to the Kyoko platform to find the NFTs they desire. Meanwhile, lenders can list their assets on the Kyoko P2P lending platform and customize the lending requirements according to market values. Once a borrower and a lender strike an agreement, the Kyoko platform will issue a smart contract that automatically exchanges assets and executes the transaction.
Kyoko’s P2P NFT Lending is currently in its test launch phase. Join our Telegram below to learn more.
Cross-Chain Asset Lending (CCAL)
Guilds and players need a solution to transfer their hard-earned gains from one game to another. Kyoko’s cross-chain asset lending platform will allow lenders to list game assets across different blockchains on a singular platform.
Similar to the Kyoko P2P lending platform, borrowers can come to the Kyoko cross-chain asset lending platform to find the in-game asset they desire, while lenders can list their assets on the lending platform and customize the lending requirements according to market values. Once a borrower and a lender strike an agreement, the Kyoko platform will issue a smart contract that automatically exchanges assets and executes the transaction.
With Kyoko’s cross-chain asset lending platform, Guilds and established players can monetize the game assets that they’re not using while players are able to play new games and earn income more easily — and cheaply — than they currently can.
First there was Bitcoin, then Ethereum. DeFi came next and NFTs followed. Now, it’s the era of GameFi — the culmination of all that came before it. Amid all the challenges that still remain to be solved in this emerging market, Kyoko will be here — keeping play-to-earn accessible and profitable to all.
Kyoko.Finance is a cross-chain GameFi NFT lending market for guilds and players. Kyoko’s Guild-to-Guild lending, P2P NFT lending, and cross-chain asset lending platform aims to solve the most pressing issues challenging the GameFi market, including the rising cost of entry and siloed in-game assets across different blockchains. Kyoko’s metaverse will also allow Guilds to display their history, progress, and other accomplishments, while players can connect with others in a world that can be built in, developed, and sold off.
Follow Kyoko at the links below to stay up to date on upcoming events, releases, and news.
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