July 18, 2024

Assets encapsulated in NFT form were one of the explosive points of the last bull market, but NFT assets have been slow to develop in the lending market, contrasting sharply with the rise of DEX and lending protocols in DeFi. The total amount of NFT loans is low, primarily due to the lack of efficient lending protocols that can match supply and demand. Factors contributing to insufficient liquidity include macro-environmental impacts, high entry barriers, and a lack of application scenarios.

To improve NFT liquidity, expand application scenarios, and address the high-threshold status quo, NFTFi was developed. NFTFi essentially combines NFT and financial attributes, making NFT’s flow more diverse and efficient, and providing more possibilities for NFT holders. Under the NFTFi ecosystem, various products have emerged, including AFKDAO, which focuses on gaming NFTs and builds a DeFi solution universally applicable to application-based NFTs.

AFKDAO is committed to the development of the gaming ecosystem and promoting the reuse of application-based NFTs. NFTs can be divided into many types, such as PFP (Profile picture), art, games, domain names, music, etc., which can be grouped into application-based and non-application-based. In the NFT market, ordinary lending platforms support NFT asset lending. NFT holders can obtain corresponding value in encrypted assets by pledging NFTs, but non-application-based NFTs do not have sufficient market liquidity.

 

AFKDAO integrates IGO, GameFi aggregator, NFT lending, and DAO into four sections, enabling NFT investors to complete all related operations on one platform, thereby reducing the threshold and cost of investment. For investors, they can gain value appreciation by purchasing, trading, and leasing NFTs. Secondly, for players, they can lease NFTs here, thus participating in and earning profits with lower costs. For project issuance platforms, they can generate revenue through the sale of NFTs and gain more user participation in cooperation with AFKDAO.

Recently, AFKDAO has been taking continuous actions in the market, partnering with various popular blockchain games to inject new vitality into the NFT market and the GameFi sector. These collaborations have opened up a broader market for AFKDAO. Additionally, cooperating with these games provides more diversified investment choices for AFKDAO users, further promoting the development of NFT and GameFi fields.

 

Since March, AFKDAO’s protocol token $AFK has increased by 41%, indicating the market’s recognition of AFKDAO’s recent market actions and expectations for its future development prospects. AFKDAO is planning to enter the South Korean market, which has a lively gaming ecosystem. The collaboration with more gaming projects will help AFKDAO attract more users, supplement NFT market liquidity, and generate more significant revenue from the leasing protocol. Entering the South Korean market brings significant potential for AFKDAO. South Korea’s gaming market ranks fourth globally, reaching $8.2 billion, with an internet penetration rate of 98%, ranking first. South Korean players demonstrate a strong willingness to pay, with an average gaming expenditure (ARPPU) of $250, ranking second globally. The local gaming ecosystem in South Korea is full of vitality.

As traditional gaming markets exit their high-growth phase and enter a stage of competitive struggle, South Korean game companies are eager to find new growth points. Leading traditional gaming companies like Wemade, Kakao, Netmarble, and Com2us have spearheaded the transformation of a large number of small and medium-sized gaming companies into blockchain gaming, reaping considerable benefits in the process. AFKDAO’s entry into the South Korean market is expected to result in collaborations with more gaming projects, creating a scale effect that brings more traffic and users to AFKDAO. This, in turn, will supplement the NFT market liquidity and enable AFKDAO’s leasing protocol to generate even higher returns.

AFKDAO will soon enter the South Korean market. South Korea’s gaming market ranks fourth globally, with a value of $8.2 billion and an internet penetration rate of 98%, ranking first. Players have a strong willingness to pay, with an average revenue per paying user (ARPPU) of $250, ranking second worldwide. The local gaming ecosystem in South Korea is extremely vibrant. As the traditional gaming market moves out of its bonus period and into a phase of competing for existing resources, South Korean game manufacturers are urgently seeking new growth points. Among traditional South Korean gaming companies, leaders such as Wemade, Kakao, Netmarble, and Com2us have led a large number of small and medium-sized gaming companies to embark on the path of game chain transformation, achieving considerable benefits. With AFKDAO’s entry into the South Korean market, it is foreseeable that AFKDAO will cooperate with more gaming projects, create economies of scale, attract more traffic and users, supplement the NFT market liquidity, and generate greater revenue for the AFKDAO leasing protocol.