{"id":164401,"date":"2021-01-27T21:49:00","date_gmt":"2021-01-27T18:49:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gamified-yield-farming-with-nonfungible-tokens\/"},"modified":"2021-01-27T21:49:00","modified_gmt":"2021-01-27T18:49:00","slug":"gamified-yield-farming-with-nonfungible-tokens","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gamified-yield-farming-with-nonfungible-tokens\/","title":{"rendered":"# Gamified yield farming with nonfungible tokens"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ab6ad0ea54\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ab6ad0ea54\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/gamified-yield-farming-with-nonfungible-tokens\/#How_can_NFTs_be_used_within_the_domain_of_yield_farming\" >How can NFTs be used within the domain of yield farming?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/gamified-yield-farming-with-nonfungible-tokens\/#Why_combining_NFTs_with_yield_farming_could_be_huge%E2%80%A6\" >Why combining NFTs with yield farming could be huge&#8230;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/gamified-yield-farming-with-nonfungible-tokens\/#What_comes_next\" >What comes next?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/gamified-yield-farming-with-nonfungible-tokens\/#The_future_of_gaming_is_here\" >The future of gaming is here<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Gamified yield farming with nonfungible tokens <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvYWM2MDU2YzQtYjc4Zi00YzYwLWI5MjgtOWM2MjI4M2Q3MmQxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>The concept of yield farming has gained a lot of traction over the past year or so particularly because it enables crypto owners to stake their assets in return for tangible returns within short time windows. And while the thought of earning a profit on one\u2019s investment may not be new at all, the idea behind yield farming \u2014 where users can earn rewards for making use of a particular DeFi <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication \u2014 is largely confined to the purview of the decentralized finance sector.<\/p>\n<p>Also, much like yield farming, nonfungible tokens, too, have become extremely popular over the last couple of years. This is because these cryptographic entities \u2014 whose values are directly linked to a particular asset \u2014 are ideal for owning physical items such as artwork, property deeds, collectibles, such as CryptoKitties, as well as, digital commodities such as <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> skins, trading cards, etc.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Yield farming is a fad, but DeFi promises to change the way we interact with money<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_can_NFTs_be_used_within_the_domain_of_yield_farming\"><\/span>How can NFTs be used within the domain of yield farming?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ever since the Napster <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.kerrang.com\/features\/metallica-vs-napster-the-lawsuit-that-redefined-how-we-listen-to-music\/\">debacle<\/a> from a couple of decades ago \u2014 that saw legendary rock band Metallica take on the file-sharing giant for allowing users to illegally download their music \u2014 came to light, conversations pertaining to digital content ownership and rights management have become increasingly more prevalent across the globe.<\/p>\n<p>In this regard, over the course of 2020 alone, NFTs seem to have captivated the imagination of crypto enthusiasts worldwide primarily because they allow for digital data ownership processes to be facilitated in a highly streamlined, efficient manner.<\/p>\n<p>There are various blockchain-based digital collectible card games that are now available online. They enable players to operate within a fantasy landscape, even allowing them to create a number of novel items, collectibles which can then be used in-game in exchange for a wide array of digital goodies or even be sold across various marketplaces for monetary remuneration.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Overview and market trends of crypto games in 2020<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_combining_NFTs_with_yield_farming_could_be_huge%E2%80%A6\"><\/span>Why combining NFTs with yield farming could be huge&#8230;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Most globally recognized video game developers \u2014 such as Electronic Arts, Activision, UbiSoft \u2014 tend to employ a monetary maximization model, wherein they are focused primarily on making as much money as possible with each title release. In this regard, it bears mentioning that over the course of the last 4\u20135 years, the issue of microtransactions seems to have <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/christianmhelms.medium.com\/microtransactions-are-killing-the-gaming-industry-79fd4fdbdcfd\">plagued<\/a> the entire gaming market, such that players are now required to shell out a small fee for unlocking every small feature present in a host of popular gaming titles, for example, FIFA 2021, NBA 2k21, etc.<\/p>\n<p>Blockchain gaming, on the other hand, seems to be more concerned with providing players with as much value and playability as possible. For example, in a vast majority of blockchain titles, users are provided with an option of minting and selling their in-game items as they please, thus, shifting the balance of power from the hands of game developers to those of the players, particularly from a financial aspect.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_comes_next\"><\/span>What comes next?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the gamified yield farming market continues to mature, it will be quite natural for the industry to move to a framework wherein in-game rules can be modified by the players themselves. For instance, if a game typically assigns certain attributes to an in-game item \u2014 for example, a factory has the ability to only produce 80 cars or 50 motorbikes per day \u2014 then with time, users will be given the ability to alter these rules and increase\/decrease the production capacity of these defined entities, depending upon the governance tokens they own.<\/p>\n<p>What this means, in the long run, is that players will eventually get to impact core rules of the game through governance \u2014 something that was previously inconceivable with traditional video games. Also, from a monetary aspect, such a model can completely shake up the gaming sector since users can potentially alter production rates, inflation standards, etc. within the game \u2014 thereby allowing their governance tokens to become more and more valuable over time.<\/p>\n<p>Lastly, the ability to alter in-game protocols means that players with substantial governance tokens can quite easily tweak parts of a game\u2019s economy, which is revolutionary especially when given the fact that blockchain titles are totally decentralized, both in their design and operability.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_future_of_gaming_is_here\"><\/span>The future of gaming is here<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Empire building games, such as Sid Meier\u2019s Civilization, Command and Conquer, Age of Empires, have captured the imagination of millions of people all over the world for decades. However, as entertaining as these titles may be, they don\u2019t allow players to generate any sort of monetary returns for them in lieu of their spent time and effort.<\/p>\n<p>The concept of gamified yield farming with NFTs can change all that because it enables users to make money from every single in-game asset that they own. Not only that, depending on one\u2019s personal skill set, players can potentially rake in thousands of dollars for something that they enjoy doing daily.<\/p>\n<p>For example, within fantasy landscapes, players can buy collectible NFT game cards that can be used in the game in order to earn a wide array of digital goodies, and they can also be sold on various NFT marketplaces for cryptocurrency. In a yield-farming manner, the NFTs can also be trustlessly rented out to other players to passively earn yield on NFT assets.<\/p>\n<p>That being said, traditional PC\/console games still have an overwhelming edge over blockchain titles at the moment both from a visual as well as a functional standpoint, however. When the graphics and gameplay side of things start to become similar between the two, decentralized games will dominate the industry.<\/p>\n<p><em>This article was co-authored by <\/em><strong><em>Jesse Reich <\/em><\/strong><em>and <\/em><strong><em>Aly Madhavji<\/em><\/strong>.<\/p>\n<p class=\"post-content__disclaimer\"><em>This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/em><\/p>\n<p class=\"post-content__disclaimer\"><em>The views, thoughts and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/em><\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\"><strong>Jesse Reich<\/strong> is the CEO of Splinterlands. Jesse graduated from Texas A&amp;M University with a Ph.D. in chemistry in four short years, and at the age of 27, he became a professor. He spent 10 years as a leading university sales engineer across major corporate publishers. Upon discovering the economic and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> liberties and protections that blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> can afford, Jesse founded Splinterlands with Matt Rosen.<\/div>\n<\/div>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\"><strong>Aly Madhavji<\/strong> is the managing partner at Blockchain Founders Fund, which invests in and venture builds top-tier startups. Aly consults organizations on emerging technologies, such as INSEAD and the United Nations on solutions to help alleviate poverty. He is a senior blockchain fellow at INSEAD and was recognized as a \u201cBlockchain 100\u201d Global Leader by Lattice80. Aly serves as a board member of CryptoStar Corp and has served on various advisory boards including the University of Toronto\u2019s governing council.<\/div>\n<\/div>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/gamified-yield-farming-with-nonfungible-tokens\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Gamified yield farming with nonfungible tokens &#8221; The concept of yield farming has gained a lot of traction over the past year or so particularly because it enables crypto owners to stake their assets in return for tangible returns within short time windows. And while the thought of earning a profit on one\u2019s investment&#8230;<\/p>\n","protected":false},"author":1,"featured_media":164402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvYWM2MDU2YzQtYjc4Zi00YzYwLWI5MjgtOWM2MjI4M2Q3MmQxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,91083,74863,74868,74935,117,80,4965],"class_list":["post-164401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-blockchain-game","tag-cryptocurrencies","tag-defi","tag-nonfungible-tokens","tag-business","tag-games","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/164401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=164401"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/164401\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/164402"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=164401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=164401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=164401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}