DeFi Kingdoms on Fire This Month, Pushes to Dethrone Axie Infinity

DeFi Kingdoms on Fire This Month, Pushes to Dethrone Axie Infinity

Learn all you need to know about the Harmony hit

DeFi Kingdoms is one of the dapps catching the community’s attention this December after its user base increased by 466% in a month. What’s more, the Harmony-based GameFi dapp is threatening to remove Axie Infinity as the play-to-earn ruler. 

The dynamic world of blockchain and DeFi gaming is constantly becoming richer with new dapps, some of which manage to rise above the average. DeFi Kingdoms guarantees speed, security, rewards, and extremely low trading fees, but there’s a lot more to it. Could this game actually dethrone Axie?

Welcome to DeFi Kingdoms

The premise of DeFi Kingdoms is simple enough: the player is leading the Hero (who is also an NFT) onto adventures during which they earn tokens. Users can also buy land on which they can build kingdoms of their own – gather resources, establish buildings, add improvements, and watch them thrive.

Importantly, Heroes aren’t static NFTs. Instead, they grow experience as they embark on quests and are given gear to increase their efficiency. The player can craft their own gear to equip their Heroes, giving them more power (improved appearance is a plus as well). Just like any NFT, these heroes can be traded or, better yet, combined with other heroes to create new ones.

The numbers say it all

Despite still being in development, DeFi Kingdoms has already crushed it in multiple areas over these past 30 days, including in:

Number of users

In the past month, its user base has grown a whopping 466%, surpassing 243,000 wallets. Altogether, users interacting with the platform have made 4.85 million transactions (which is a 276% increase). In these transactions, more than $886 million has changed hands. DeFi Kingdoms’ monumental success has brought it to the 14th place of DappRadar’s Top Dapps Ranking in terms of the monthly user count, and sixth place among all gaming dapps. 

Trading volume

DeFi Kingdoms currently ranks second in terms of monthly trading volume among games dapps – surpassing $885 million and getting uncomfortably close to Axie Infinity’s current $1.13 billion. In the meantime, the game has already succeeded in overthrowing Axie Infinity in terms of weekly trading volume.

Token price

It isn’t just the number of users and trading volume that DeFi Kingdoms has excelled in over the past month. The game’s native JEWEL token has had a sharp upward spike in the past few days, reaching its all-time high of $12.80 on December 20th. The upward trend started a week ago, when the price was only $6.37. To demonstrate its immense success, let’s look at this data: JEWELs all-time low was $1.23 – and it was recorded just three months ago. 

You can find all this information on the DeFi Kingdoms dapp page here on DappRadar. As DappRadar is opening up its platform for community contributions. DeFi Kingdoms is one of the first dapps with a list of community-powered tools listed on the dapp page. These tools allow users to improve their experience using that particular dapp, and everybody can contribute through the DappRadar Github, adding tools for any dapp listed on DappRadar.  

Why is this happening?

The game’s massive success and appeal can be narrowed down to a combination of immersive metaverse experience, NFTs, and DeFi features. Put together, this results in a functional economy in which all parts fall perfectly into place. 

In the case of DeFi Kingdoms, these parts include the Hero NFTs, JEWEL token, a DEX, and the Gardens where users can stake liquidity provider tokens. The upcoming Kingdoms and Buildings will allow users to buy land, mine resources, and build improvements. Not to mention crafting equipment NFTs and organizing PVP tournaments that are also in the works.

In the opinion of investors, the game stands out in the metaverse gaming sector because it allows users to farm and stake while using quests and heroes to enhance these activities. And it isn’t just that.

As they play, users in DeFi Kingdoms can earn the platform’s JEWEL token. It is built and traded on the Harmony ONE platform, using the UniswapV2 Protocol. In other words, the platform’s DEX allows users to trade any asset on Harmony.

Users can also create LP pairs to get JEWEL-LP and start mining in the platform’s liquidity farming pools. They can add liquidity in the Gardens to receive JEWEL token rewards. Finally, they can earn staking bonuses in the Bank.

What’s next for DeFi Kingdoms?

Not many DeFi games can pride themselves in taking the world by storm as DeFi Kingdoms already has. The team is still hard at work developing the full platform. Next up, players expect the opening of the Bank, os they can stake and earn JEWEL tokens. 

The road map envisions many new additions and improvements. This includes the implementation of upgraded Hero NFTs, quests, and JEWEL token mining. Additionally, there will be the new Kingdoms and world map, buildings and resource nodes. Last but not least, equipment NFTs to craft, equip or trade, PVP tournaments to fight in, and more.

Stay tuned as we wait and see if DeFi Kingdoms will truly overthrow the longstanding ruler, Axie Infinity, from its throne. To find out more about DeFi Kingdoms, visit its official DappRadar page

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