Decentralized Gaming And NFT Ecosystem By Cyclops Finance

imlarry (33)in #defi • 4 years ago

DeFi hype lasts since the late summer of 2020 and it’s somewhat alive even though many attacks, hacks, security gaps, and many more. One of the main innovations of DeFi is to allow everyone to take part in some kind of financial activity all around the world. Staking, yield farming, liquidity providing, DAOs, and many more. Please check my previous articles to find more information.

Despite we are still inside the circle of BTC pump, continuous DeFi hype, and creepy NFT projects, it’s important for me to discover different aspects of blockchain technology. While people implementing the new normal after the COVID-19 pandemic, it is true for developers. So, we see partnerships, combinations, and collaborations across the crypto world.

Today, my topic is to introduce Decentralized Gaming And NFT Ecosystem By Cyclops Finance.

Basically, Cyclops Finance is a platform that has the features of DeFi yield farming, tokenized game assets under the name of NFTs, and conventional gaming platforms. The platform is created under the influence of some Greek myths.

The users can have, store, create, and even trade these myths via using the Cyclops platform anytime and anywhere. Besides that, the users are allowed to create their own games on the chain with the Cyclops platform.

The myths I stated above reflect the insight view of Cyclopes Mythology. According to Cyclops Mythology, the characters are named Cyclops Brothers and they live on the Island of Sicily. Every character has its unique tokenized form under the NFT name but the users are allowed to upgrade their characters via buying new tools or completing the Treasure Hunt tasks.

Up to now, it’s like a copy of other DeFi platforms. But the ‘’Treasure Hunting’’ tasks make Cyclops unique and allows it to combine the features of DeFi with the gaming sector. Let’s see the details below.

Cyclops Finance developers don’t want it to make a simple ‘’Pay-to-Win’’ game. So that the gamers are directed into a DApp where all these characters are live. You should select one of the available characters and then try to finish each task one by one. After completing each task, your character will be rewarded with different kinds of objects to make the next task easier to finish.

The pieces of equipment are grouped into NFT game weapons, NFT pets/creatures, NFT passages/gatekeeper/locks, and much more… But it’s only a preview of the iceberg because while more developments are implemented to the platform, we will see more types of equipment.

All of the characters and their equipments are a kind of NFT. So there is a limited amount of character and/or equipment to take for yourself. In the future, there may be an additional amount of characters to use to reach more people. But when we think according to the current situations, it’s clear to understand that there will be no more available equipments to take so the owners will enjoy having them much more. It makes them more valuable and rarer to have.

(Some examples of character and creatures. Source)

If the situation above goes real, the users have to acquire them via OTC trading or an official market on Cyclops Finance platform. To prevent any kind of unofficial and unreliable asset exchange between users, the developers have created a ‘’marketplace in manufactory’’ platform to use: The Hephaestus Workshop.

The NFT assets are available to trade on OpenSea or Rarible, currently. But these websites only allow us to trade, not to create or redesign them. When we think about even a simpler game, Euro Truck Simulator, the trucks, trailers, wheels, and even discs are redesignable. So this feature should be added to blockchain-based games. And developers made it via The Hephaestus Workshop.

Cyclops Game has published a Medium article to introduce The Hephaestus Workshop V1.0. For now, the platform allows users to track their NFTs values and trade them between each other. But as I said, it’s not a simple marketplace to bring together the buyer and sellers. Again in the same article, you can find out that V1.0 is just the beginning and we should expect V2.0 in the upcoming weeks. The features that will be added to the platform are the following:

Mobile Access: Allowing the platform to be fully accessible on mobile devices. Users will enjoy all trading functions from mobile devices.
Asset Factory: The asset factory will be integrated with version 2.0. This will allow users to create their own assets with a few easy steps.
Custom Marketplace: Users will be able to setup a custom marketplace and list any asset they wish to trade.

To use The Hephaestus Workshop, people should have the MetaMask wallet and some ETH plus CYTR in it. The bids and asks are placed using some CYTR but at the same time, you should hold some ETH to cover network fees.

Cyclops Finance has been created on the Ethereum blockchain. And CYTR is the native token of Cyclops Finance. It can be imagined as a key to open the doors of the Treasure Hunt, Hephaestus Workshop, and many more. CYTR is an ERC20 token with a total supply of 1000. The use cases of CYTR can be listed as follows:

Game assets can only be purchased using CYTR and ETH. Purchases using CYTR are discounted. When ETH is used, 50% of the ETH is converted to CYTR
When players skip levels, use special game characters, or unlock special characters, they can do so by paying a fee in CYTR. It should be noted that options are available that do not require making a payment.
Gamers are required to hold certain amount of CYTR to unlock higher levels.
When a custom character or asset is approved to be created, owner of the character make payment for the character/asset to be integrated into the game and the payment is made in CYTR.
Holders of CYTR will be able to vote on the integration of assets and will be able to vote on developmental goals of the platform.
Treasure ruins at each level are valued in CYTR which are locked up in each level.
So many other use-cases. But from what has been stated here, the whole operation of the platform is dependent on the assets and CYTR.

The Cyclops Finance team has partnered with NULS, recently. NULS/Nerve Network aims to the cross-chain interoperability to bring different solutions to the ecosystem with one, single chain. And they expect to see the upper levels of the NFT gaming sector with the help of the Cyclops Finance team. Please read the official announcement here.

Besides that, the Cyclops Finance team is preparing themselves to organize a tournament with more than 10,000$ in prizes. It’s said that this tournament will be the first of its kind in blockchain gaming. More information will be released soon. Please follow the Twitter account or join the Discord channel to be updated.

The team is working on a first of its kind blockchain gaming tournament. Infrastructures for this event are been developed and will go live in upcoming phases.

For more information, join and follow Cyclops Finance's Social Media platforms below: