Since its inception, nonfungible tokens, or NFTs, have been making waves mainly in the art world, allowing many graphic designers, musicians and artists to sell their work exclusively to willing buyers. While there might have been a lot of controversy surrounding the technology, it’s undeniable that the support and demand for NFTs are only rising and many people are ready to pay enormous amounts to own some digital assets.
Art collectors aside, many businesses have recently been finding more practical use for these nonfungible tokens and started to issue NFTs as membership cards. The number of industries disrupted by NFTs has been on the steady rise and includes, among others, retail, show business and online gaming.
Speaking of gaming, many players have won millions participating in some of the biggest live and online tournaments and traveled to dozens of countries to apply insights from their experiences towards life and business. Most of them can confidently tell you that one of their biggest dreams would be to play online games without having to risk money.
Decentralized finance (DeFi) and NFT technologies make that dream a reality. InPoker is the first platform to bring them under one roof, allowing people to be a part of an exclusive virtual club of VIP members where tournament entries are free and membership is an asset that you could resell in the future.
InPoker is a new project that aims to combine the latest financial technologies and features in a play-to-earn (P2E) model in order to gamify the DeFi experience. The platform had a soft launch on July 30 and became the first e-sports project with NFT membership and an integrated DeFi protocol, allowing users to supply crypto assets and earn annual percentage yield (APY). Users can then choose to borrow up to 60% of the supplied collateral amount to participate in various tournaments while retaining the balance. This way, the DeFi protocol offers a much safer gaming experience by protecting users and cutting the risk of spending all the funds by at least 40%.
InPoker takes the focus away from gambling and promotes the P2E model via skill-based tournaments, “sit & go” and similar competitive games. Users are given the choice of participating in sponsored or freeroll tournaments or regular games with buy-in fees.
Play-to-earn is the impeccable model of the ages. It creates an authentic opportunity that expands players’ gaming experience through composite virtual entertainment and real economic gain. Aside from that, InPoker allows its players to improve their skills and win great rewards by participating in daily special free games.
Keeping up with the times, there has been a sudden surge of NFT games recently. Many platforms are offering special NFT assets as prizes for completing certain challenges. It is, however, the functional use of NFTs that is more appealing, as it engages in the latest financial technologies and features that grant ongoing lucrative rewards.
InPoker uses NFT as a membership card, so while the users own this asset, they get to enjoy the exclusive benefits and special prizes. The cards provide free entries to daily tournaments and special privileges for promotions, activities, merchandise and special events. InPoker Elite, NFT card owners also get to participate in special games on the InPoker platform where they can win tickets to real tournaments around the world. There are also member perks such as the ability to generate additional membership NFT cards which will allow users to play in even more tournaments. This model completely revolutionizes the online gaming experience as you can use the NFTs to access the special benefits on the platform for as long as you wish, and then sell the membership card at any time, potentially at a profit.
Having incorporated DeFi and NFT technologies on one platform, InPoker aims to become one of the biggest blockchain projects in the e-sports industry and continues to promote the play-to-win model to the public.