SINGAPORE / ACCESSWIRE / June 22, 2021 / Decentralized fantasy gaming platform CoinFantasy will be one of the featured startups & gaming partner of the Global Blockchain Congress to be held in Dubai on June 21 and 22.
CoinFantasy is the world's first decentralized fantasy gaming platform for crypto markets using Non-Fungible Tokens. The company aims to revolutionize fantasy gaming in crypto financial markets using blockchain technology and has an ecosystem of defi elements such as lending/borrowing, data oracles & insurance. In addition, the platform features a smart credit system for game organizers and participants, an NFT incentivization mechanism, a staking reward pool, and a unique NFT launchpad to incentivize all the stakeholders within the ecosystem.
The Global Blockchain Congress conducted by the Agora Group takes place on June 21 and 22, bringing together innovative blockchain tech startups in its seventh edition.
'We are excited to be a part of one of the most interesting events in the MENA region in 2021. Global Blockchain Congress brings vast experience from hosting the first six editions of the event and ensures maximum return on investment for all the event sponsors. We are looking forward to interacting with the speakers, investors, and other participants next week', said HarishKarthik Gunalan, Co-founder & CEO at CoinFantasy.
Fantasy Gaming + DeFi + NFTs = CoinFantasy
Fantasy gaming as an experience is a segment with vast potential, and the majority of it is still unexplored. It is essentially a mega-industry that attracts a massive audience, irrespective of age or barriers, and has always fascinated gamers with its ever-evolving nature. The gaming industry has always been considered a pioneering industry for introducing new technologies and interfaces to varied audiences around the world. Technology enthusiasts are always excited to embrace this newness as fantasy-gaming platforms provide an accessible medium to understand and adopt these new technologies.
What needs to be addressed?
According to the company, the platform aims to create that niche market with a multi-billion-dollar opportunity that connects all three elements (crypto + gaming + NFTs) of the cryptocurrency market. It would address the challenges in the current fantasy solutions that are centralized and custodial and bring transparency in various aspects ranging from incentivization, gamification, rewards, and settlements. The company is scheduled to launch its test net shortly and has already gathered quite a bit of interest from top VCs in this space.
CoinFantasy essentially envisions gamifying the entire Crypto-derivates market by adding layers of liquidity on top of existing price movements. The platform offers a set of tools for any third-party user to create and run prize-pool-based fantasy games. Participants can win prize money for predicting, based on their skill and knowledge, outcomes of their chosen set of coins within prescribed parameters inside their respective pools. This gamification of Crypto-focused Financial markets can be extended to Stocks, Commodities, Prediction Events, and other Derivative Markets.
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