- Budding blockchain APENFT partners with WINkLink around GameFi project
- TRON and BitTorent back the new GameFi project
- The platform will use NFT and WIN, the native tokens of APENFT and WINkLink, for bets
YEREVAN (CoinChapter.com) – In an exciting development, APENFT blockchain joined hands with WINkLink to venture into the world of GameFi and NFTfi. TRON founder Justin Sun took to Twitter to announce the news of the partnership.
In what came across as a justification, Sun said that GameFi would become the next trend. The TRON CEO clearly could not contain his excitement when he declared WINkLink and APENFT would go all-in on the new opportunity.
The news comes months after WINkLink partnered with Just NFT Fund to venture into the NFT market.
Understanding the APENFT blockchain
APENFT is a blockchain platform that aims to turn renowned art into Non-Fungible Tokens while also buying famous NFT and storing them as assets. The selling point of APENFT is that it transforms art pieces, which once were accessible only to the elite, into something that is accessible to everyone.
APENFT famously owns works by renowned artists such as Pablo Picasso and crypto artists Beeple and Pak valued at millions of dollars.
APENFT enjoys the backing of industry leaders like Ethereum and TRON. It is also supported by the world’s largest distributed storage system Bittorrent File System (BTFS).
In May, APENFT also launched its native coin, the NFT, which runs on Ethereum and TRON ecosystems.
What does WINkLink do on a blockchain?
WINkLink is the first TRON ecosystem comprehensive oracle. The purpose of the WINkLink blockchain oracle is to provide smart contracts with information from the real world. Just like ChanLink will provide real-time data about events, weather forecasts, match results, etc. from the real world.
Since the information provided cannot be altered, the oracle helps establish trust among parties entering into contracts.
The WINkLink became TRON ecosystem’s first oracle after WINk acquired justlink.io on April 26, 2021.
The native utility token of the platform is the WIN. It is a TRC-20 token that runs on the TRON network. The token is used for transactions on the platform. For example, nodes that provide reliable trusted data on the oracle will receive their incentives through WIN tokens. Additionally, the platform will charge developers in WIN coins every time they acquire trusted data from the oracle.
Blockchains rush to GameFi
Ever since the concept was born, Gamefi has attracted blockchains. By combining Decentralized Finance (DeFi) and the gaming experience, Defi provides a whole new experience on the blockchain.
Through Defi, financial mechanisms are presented in a fun way by allowing users to earn profits while playing games.
However, more than the games, it is the financial aspect of it that is clever. In order for users to play games, they need to cash in on the native tokens, just providing the much-needed circulation.
For example, the joint GameFi project by APENFT and WINkLink will be powered by the TRON ecosystem. For gaming purposes, players will use NFT tokens issued by APENFT and WIN tokens issued by WINkLink.
This will provide the much-needed acquisition of these tokens, bringing them into regular, mainstream circulation.
Just like the Binance CEO above, many consider GameFi, the combination of NFT and DeFi, to have the potential to be the next big thing in NFT innovation.
APENFT and WINkLink, both popular projects, have seized the opportunity in the industry to cash in on GameFi.
Backed by TRON, Ethereum and BitTorrent, the partners are sure to succeed. After all, Justin Sun is on the sidelines cheering for them.