Defi Kingdoms Reaches Record Activity Levels on Top of Metaverse Push – Metaverse Bitcoin News

Defi Kingdoms, a game based on metaverse blockchain technology, has been experiencing a significant increase in activity because of the increased interest in metaverse projects. Dappradar reports that the game’s activity has increased significantly. The price of its native token, JEWEL (issued on top of Harmony Blockchain), has risen significantly, a token which reached an all-time high in a sideways marketplace.

Defi kingdoms is a popular choice among its peers

Defi Kingdoms, a game-to-earn play-to-earn, is gaining traction amid the growing number of games using blockchain technology. It was inspired by metaverse elements, which include non-fungible tokens (NFTs), as part of the structure. Dappradar is a data tracker for decentralized finance activity. The number of users who have used Defi Kingdoms in the past month has increased by more than 30%. Also, transactions have more than doubled to reach 7.32million, according to Dappradar, a decentralized finance (defi) activity tracker.

The native token, JEWEL, also saw a significant increase in its value. Despite a slump in cryptocurrency markets, the price of the token reached ATH today.

Decentralized Gaming is on the Rise

According to the views of Yosuke Matsuda, president of Square Enix, who addressed the subject in a letter, last year was the year of NFT’s and the metaverse. Although smaller businesses have created projects that are inspired by these ideas before, the industry began to pump funds more heavily last year. Decentraland, The Sandbox and other projects that have been around for a while are now benefiting from the industry’s increased funding.

Axie Infinity was the decentralized game most popular during the year. This is due to the play-to earn mechanics, which appealed to low-income people in the Philippines and Venezuela who perceived higher income by playing them than by working in normal jobs.

Square Enix and Ubisoft, two of the most successful gaming companies, are trying to incorporate these elements in their gaming ecosystems. They propose to establish token economies and marketplaces that will allow them to become self-sustaining. AAA gaming companies are yet to release an installment that integrates NFTs.

In this story, tags
Blockchain, Decentraland and decentralized gaming. Harmony Blockchain. JEWEL. Metaverse. nft. NFTs. P2E. play to earn. The Sandbox. Web3.

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Sergio Goschenko

Sergio is a Venezuelan cryptocurrency journalist. His entry into the cryptocurrency world in December 2017 was when it saw a price surge, and he describes himself as being late to this game. He is a Venezuelan computer engineer with a background in social engineering and has been influenced by cryptocurrency’s boom on a personal level.

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