Fabwelt Partners With Spintop
We are thrilled to announce that Spintop Network, a leading GameFi network, has joined our growing community as a strategic partner! Spintop Network is a solely gaming-focused network that enables its community to play games and exchange game assets by utilizing a shared economy as well as technologies that enable developers, players, and investors to engage in and experience the full potential of blockchain gaming.
Spintop narrows the field and showcases games of the best caliber, which benefits both projects and players. As a result of this collaboration, Fabwelt will be exposed to an ever-increasing plethora of different players and groups.
All-In-One Gaming Ecosystem — Spintop
With Spintop Fabwelt will be exposed to gamers of blockchain games. Spintop consists of four primary items that operate in tandem to improve the overall player experience:
- GamePedia — Community-driven gaming guide
- SPINDEX — Gaming exclusive AMM, staking and farming, and a gaming wallet
- Guild maker — Automated Guild system for matching play2earn sponsor and scholars
- NFT Marketplace — NFT trading and lending grounds for guilds and players
Key Features Of Partnership
- Implement NFT renting into Fabwelt games.
- As per the current system, use the WELT token version in order to allow users to play all Fabwelt games by holding WELT tokens. In addition, there would be the flexibility to pay a monthly or annual subscription to token holders who lend out their tokens (collateral-less) can earn extra income.
a) Players would have two options:
- Hold — Hold a certain amount of Welt tokens. The user would deposit their tokens into a smart contract and get an NFT in return. This NFT would give them access to the platform for as long as they hold it. To get their tokens back they would need to return the NFT and their tokens would be unlocked from the smart contract.
- Rent — Pay in a stable coin or crypto of choice (we have an integration into DEXs for the conversion) to “rent” the required amount of tokens from lenders in order to be issued an NFT for the agreed-upon rental period that would give them access to the platform. This rent model can be best understood from Netflix . You can think of paying a $10 a month fee for Netflix like you are used to, and what happens in the background is that the necessary amount of tokens is locked from token lenders, and you are issued the NFT which gives you access to Netflix for that month. This could help with user adoption as some people do not want to be exposed to the price fluctuations of another currency. The fees that the renter pays go to the lenders in the form of interest.
- *There is also a revenue split built into the model as well, where you can set what % of the fees go back to the lenders and what % go back to your company/the protocol**
What’s In The Partnership For Players & Investors?
- No Stress Of Price fluctuations of native currency — by allowing the opportunity to rent tokens, it removes the risk of investment decisions and makes it all about the game. For example, you don’t need to own Netflix stock to watch Netflix, so this allows a seamless experience like we are all accustomed to.
- User adoption — not everyone wants to purchase and hold another native currency and would rather just pay with a stablecoin or crypto they have in their wallet.
- Less upfront capital — This goes back to user adoption. If I can rent month-by-month or year-by-year, the upfront capital versus holding x amount of tokens with a traditional staking model is less, and therefore, removes this barrier.
- Benefits to token lenders:
- Extra interest — Users with idle tokens can now earn extra interest paid by the fees of the renters
- Streaming and auto-compounding of rewards — rewards are streamed over time and auto-compounded, which incentivizes lenders to stay in the pool
- Extra rewards — Any additional rewards you want to provide to stakers can be streamed through the protocol just by renting more tokens
Spintop Network is an exclusively gaming-focused platform that allows its community to play games and trade game assets, utilizing a shared economy along with tools that give developers, gamers, and investors the ability to participate and experience the full value of blockchain gaming.
Fabwelt is a revolutionary concept that brings blockchain technology into the core of high-quality games of all types or genres. We aim to develop an ecosystem that can connect and interconnect everyone, everywhere, all over the globe with the power of art and gameplay.
Fabwelt elevates the existing art and gaming performance by exposing it to every corner of the world. Fabwelt focuses on creating an NFT platform and marketplace for anyone and be anywhere where the Internet reaches the users.