Digital Arms has collaborated with AFKDAO to explore its Firearms NFTs’ potential in the real-world DeFi. In other words, the collaboration would unlock the liquidity value of NFTs launched by Digital Arms, an NFT trading platform functioning to reimagine firearms for gamers & hunters.
Termed as an important step, AFKDAO is expected to bring substantial utility to non-fungible tokens to enable integration within the play-to-earn gaming ecosystem further.
The partnership will also enable Digital Arms to make its digital assets available on the AFKDAO chain. The digital assets will then be available for rental and accessible to a wide range of NFT-specific DeFi services.
AFKDAO will serve as a provider for low-collateral lending and borrowing pool solutions, transforming the Firearms non-fungible tokens into a real-world asset class.
The recent collaboration is an addition to other key relationships established by Digital Arms with some of the most renowned manufacturers and brands to create a unique interactive experience in NFTs.
Gamers and hunters have found it to be an ideal way of exploring, acquiring, and digital trading assets in the ecosystem.
Digital Arms has architected its NFT marketplace to make it advance when it comes to the interoperability of NFTs throughout the gaming space. It focuses on building new cases for metaverse, play-to-earn gaming communities, and related platforms.
NFTs created are distinguished based on the unique identity assigned to them after they are minted. The unique identity assists video game developers in spotting and recreating weaponries in the virtual environment.
Through the collaboration, the NFTs will now have enhanced utility where users can purchase skins and accessories, making the digital assets more valuable in the space.
Additionally, users can stake their assets to produce new tokens. The process will fetch attractive rewards in terms of the $HNTR token. Boundaries crash with what brands further imagine to do in the assigned digital world.
Branded stores have been lined-up for the launch on the platform of Digital Arms. Users who access these stores will come across various accessories, services, and firearms NFTs. A glance will give many ideas about how space is reaching closer to the real world.
Such offerings are currently limited to merchants. The future holds potential where many more can look to set up their stores despite having limited experience in the field.
The update was shared by Digital Arms, the host of exclusive IP rights for leading firearms brands. The marketplace created by the brand has allowed users to explore and trade their respective holdings. Sounds a lot like the basic idea of NFT, and what gives it the extra point is that it has integrated the function of interoperability.
AFKDAO, a DeFi infrastructure, aims to make non-fungible tokens rentable and accessible to make them a real asset class.
Source: https://www.cryptonewsz.com/digital-arms-and-afkdao-team-up-to-give-firearms-nfts-to-utility/