By Kimberly Crain
On Wednesday, July 12, the Berlin-based blockchain gaming company Spielworks inked a partnership agreement with Mycelium, a Web3 development company. The partnership agreement revealed that Mycelium would join efforts with Spielworks to launch a program allowing the user to be refunded for the nonfungible tokens (NFTs).
In a press release, the partners discussed the core feature of the new program. The report stated that the new platform will offer users a platform to purchase NFT dubbed “Reverties.” Mycelium and Spielworks confirmed that the Reverties holders can receive a refund in USD Coin (USDC) stablecoin.
Spielworks Partners with Mycelium
Beyond this, the new project will allow the user to stake their Reverties NFT. The proposed staking activities will be conducted through the Dungeon Master platform, a role-playing video game created by the Spielworks developers.
In light of the July 12 announcement, the Reverties holders can acquire their NFTs using the USDC on a separate minting system. The Spielworks can utilize Mycelium decentralized trading platform to promote USDC purchases.
Surprisingly the developer of the new program plans to integrate a decentralized finance (DeFi) lending platform centered on the Aave network. The lending platform will allow users to transfer their USDC to the DeFi platform on the minting transaction.
Also read:Under the partnership agreement, the partners agreed to support the community by rerouting the interest earned from the lending platform to support community projects. The report revealed that the interest generated from the lending platform will be used to purchase Spielwork’s digital tokens.
The income-generated by Spielwork will support the nonprofit firm Wombat Protection Society of Australia (WPSA). This project have been creating awareness to the public on the need to protect wombats.
Benefits of Refundable NFT Project
A report issued by the chief executive of Spielworks, Adrian Krion, confirmed that the Reverties NFT would have a utility on the Dungeon World game. The CEO added that the NFTs will be rewarding Dungeon players with mining powers and material drops.
In his report, the CEO explained that USD Coins did not fully back the NFTs. However, the NFT can be traded on the secondary market at a friendly price. Krion stated that NFT holders can dispose of their assets and get their money back.
On the new project website, the developers have incorporated a refund feature. The NFT holders were advised to follow the refund procedure on the minting page to acquire their NFT refunds.
After completing the refund process, the user must validate for the NFT transfer to the smart contract through the transaction signature. The CEO explained that confirming the NFT transaction will enable users to withdraw their funds from the pool.
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