Asgard combines metaverse, DeFi and NFTs in new DAO

Asgard, the decentralized currency reserve protocol, is launching a new and unique DAO in an effort to combine the metaverse, DeFi and NFTs. The DAO will place emphasis on providing a holistic platform to users, Invezz learned from a press release.

Asgard’s metaverse breathes new life into ancient characters in Norse mythology. Users can propose new characters to add as well as storylines associated with these Scandinavian myths and legends. Token holders vote to approve or reject the character.

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Artists will then create a design for the character with different color themes and innovation. Another community vote for the best character follows, who is added to the storyline in half a year.

Asgard CEO and founder Kiran Dommeti expressed conviction the metaverse would lead the next wave of crypto and DeFi adoption in the world, adding:

Asgard Dao will be the first Metaverse solution providing all functionalities which will help us in capturing the rapidly growing space of the Metaverse. The metaverse has taken center stage in the crypto industry in 2022 and is shaping the industry in a new direction. However, most Metaverse projects are currently just implementing a non-immersive ecosystem, or if they are providing an immersive experience, they are not providing a one-stop solution.

New and improved features

The second version of the platform aims to provide users with a holistic platform, where they have access to all the elements in the metaverse under one roof. It has new and improved features, security protocol upgrades, and other important updates.

This version’s tokenomics are based on sell, buy and unstake taxes. The unstake and buy taxes are both 2%. The default sell tax has been set at 10%.

Loot box as reward

Creators whose designs are approved and users whose proposals are accepted will receive a special reward in the form of a loot box in the game. This box will be rare and unique apart from giving access to a large number of exclusive rewards.

Voters will get loot boxes on a regular basis as a token of appreciation for their role in the ecosystem.