When is crafting coming to crypto?steemCreated with Sketch.

in #crypto6 years ago

Trading shit coins for more digital currency is fun, but as any MMO player knows your digital assets only have value if you can craft high-end gear with them. I'd like to see a dApp get made whose utility token can only be forged by combining pre-determined recipes of altcoins into an escrow smart contract. The token that gets forged in this process is only staked to get access to the dApp. It's not a payment token. The trick will be just like when you break a piece of gear down to get the resources back in an MMO, when you burn the token to get the underlying altcoins from the escrow contract there is a 10% tax that goes towards incentivizing dApp participants.

The beauty of this system is the buying pressure is puts on undervalued altcoins, and the 10% tax is irrelevant to someone who buys up your utility token to get at the underlying assets when they become more valuable than the forged utility token. It's like a derivative that can benefit the whole crypto space. You can have dozens of recipes that target different sectors like a supply chain recipe, a memes recipe, an Internet of Things recipe.

I would be cool if 3rd party projects can start adding extra value to these digital assets beyond what the original purpose was for.