Blockchain gaming platform creates refundable NFT program

Blockchain gaming platform creates refundable NFT program

Blockchain gaming startup Spielworks has partnered with the Web3 platform Mycelium Network to launch a program that allows full refunds for nonfungible token (NFT) purchases. In an announcement sent to Cointelegraph, the team explained that within the program, users who acquire NFTs called “reverties” are eligible to get a full USD Coin. The project also allows users to stake this new series of NFTs in Spielworks’ game Dungeon Master and purchase them using USDC via a separate minting mechanism. Through the partnership, Spielworks will leverage the Mycelium Network to support USDC purchases. Within the minting transaction, the USDC will be transferred to a decentralized finance (DeFi) lending pool at the Aave protocol. The team said that the interest earned in the lending pool will be used to buy back Spielworks’ token in an attempt to help its community. A portion of the earnings will also be allocated to help the Wombat Protection Society of Australia. According to Adrian Krion, the co-founder and CEO of Spielworks, the NFTs will also have utility within their Dungeon Worlds game. They will be providing mining power and material drops to their players.