Digital collectibles on blockchains are fueling the crypto retail craze right now, in part because they’re cool and in part because the market appears to have finally realized that provable ownership of digital goods may accumulate real value. Finance is present when a real value exists. Non-fungible tokens (NFTs) are a type of collectible that has recently shown to have extremely high value.
The original DeFi players haven’t made much of a fuss in the immediate vicinity of NFTs yet. DeFi Pulse’s Scott Lewis is connected with NFTX, while Aave has invested in Aavegotchi, a video game that uses its tokens. The Ave community is quite interested, at this point but there are no immediate launch plans. However, their support for the NFTs indicates the growing demand for the combination of these two use cases of crypto.
DeFi and NFT have already started to take over the world steadily. These initiatives have grown in popularity to the point where they now have their own conferences. In June 2021, an NFT art exhibition dubbed NFT BAZL was held in Miami, similar to Art Basel. Many NFT collectors, artists, and investors attended the event. DeFi, on the other hand, has a wide range of applications that are broadening the crypto world’s frontiers. Decentralized money, according to experts, has the ability to totally transform the world. Let us look at some of the top projects which are integrating the best of both worlds:
Hector Network
The Fantom Opera Chain’s Hector Network project is based on the Fantom Opera Chain. By building a range of use cases within the Hector Ecosystem, we hope to provide value to our consumers. A portion of the proceeds from these use cases will be utilized to purchase and burn Hector tokens on the exchange. Over the course of 2022, Hector will become multi-chain.
Hector Network will position itself as a financial hub within the Fantom ecosystem, allowing for a variety of use cases. We want to make managing your assets, lending/borrowing, earning interest on staking, bridging between chains, launching new projects, and much more as simple, efficient, and quick as possible.
The project is working on a DeFi game where users may win incentives for participating (P2P). The game will use the NFTs we’ve been developing and will grow in scope over time. The game’s profits will go toward expanding not only the game but the entire Hector Ecosystem. Staking NFTs Through the Hector Ecosystem, NFT developers will be able to mint their NFTs. The royalties from NFT sales will be used to purchase HEC tokens and distribute them to NFT holders. We will have the resources to advertise and sell NFTs, which will be an incentive for NFT developers. Buyers have a financial incentive to hold the NFTs listed on the Hector ecosystem since they generate money just by holding them.
Altered State Machine (ASM)
Altered State Machine is a platform for developing and training artificial intelligence (AI) agents, which are represented by NFTs and may learn and conduct behaviors inside a metaverse. For example, anyone can use ASM’s technology to create an A.I. agent that can create art and sell it on its own within a metaverse. Additionally, ASM’s NFTs are entirely interoperable with popular platforms such as OpenSEA.
This is a game-changer in terms of using NPC agents in gaming, metaverse trading, and much more. A.I. agents could previously only be owned, controlled, and employed by developers and enterprises. It’s worth noting that Altered State Machine has a filed patent on NFT-based AI ML model ownership. Altered State Machine, on the other hand, has its own native token, $ASTO, which will be used for governance, AI agent training, minting NFTs and much more.
ASM will release their first game, “AIFA FOOTBALL” with 3D football-playing little characters. With the creation of protocol V2, AIFA character and yield farming will be completed.
Creaticles
Creaticles is a decentralized app platform that allows anyone to make their own NFTs. Polygon is an Ethereum cross-chain platform that will soon be available on the Binance Smart Chain. Creaticles is the first NFT Request Marketplace of its sort. It is chain agnostic and will be implemented initially on Ethereum and Polygon, then on Binance Smart Chain and other blockchains. Creaticles, unlike other NFT marketplaces, allow buyers and collectors to request their own NFTs. $CRTL, on the other hand, is Creaticles’ native token, which can be used to pay for NFTs, stake, and vote in governance elections.
Finally, the first chance to get involved in this project will be to receive an initial NFT content drop. This will be followed by Yield Farming and Governance rewards. The NFT-drop program will be launched in October 2021, along with the start of token distribution.