Finance is a tricky business, especially when you don’t have a friendly relationship with mathematics. Many users stay away from cryptocurrencies because of the economics involved. Crypto processes like swapping, staking, farming etc sounds complicated and in fact, they’re if you’re new to trading.
All thanks to DeFi Land for addressing this issue. It has added a touch of gaming to decentralized finance. DeFi Land has the potential to educate users about various crypto products using gaming as a medium. Moreover, playing games help you earn rewards in the form of crypto tokens i.e DeFi Land coin.
The project looks promising on the surface but does it has enough momentum to reach the MOON? Is it capable of managing & sustaining its ecosystem in the long run? If you’re looking for answers, this is the post you must read –
Table of Contents
1.2 DeFi Land Investors
2.2 Staking & Incentives
5.1.1 Decentralized Finance
5.1.4 Idle Games
5.2 Play to Earn
5.2.1 MiniGames / Idle Games NFTs
5.2.2 NFT Marketplace
5.2.3 Multichain Lands
6.2 DeFi SDK
6.3 Server Hosting
8.2 Education Portal
9.2 Disguised Team Members
What is DeFi Land?
DeFi Land is multi-chain, browser based simulation game built on Solana crypto blockchain. The project was launched in 2021, based on an agricultural theme. It is specifically created to gamify all aspects of decentralized finance. The goal is to onboard retail users to the crypto world by offering them a gaming environment that helps educate them about decentralized finance in a simple, easy to understand manner.
The game aims to offer all features like trading, staking, yield farming etc. Players can start for free and earn their way to play-to-earn tier (or purchase it). They can compete, trade and do activities in a fun and exciting way.
The vision of the team is to turn DeFi Land into a hub of gamified applications, covering every niche in the blockchain industry
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DeFi Land Team Members:
At the time of writing, the team consists of 15 members, said to have over 5 years of experience in the gaming and crypto industry. Though everyone is known by Pseudonyms, most of them do have an active Twitter handle, supporting and sharing the game developments.
DeFi Land Investors:
DeFi Land has a big list of investors. From FTX to Animoca brands, there’re 27 investors invested in the project. According to Pitchbook, the total amount raised in Series A round is $4.1 million. There’s a crowd of investors but the funds allocated is quite minuscule if you ask me. Maybe more investment rounds will bring in more funds as the game progresses in user adoption and generates revenue.
Animoca brands also owns the Sandbox crypto platform
What is DeFi Land Coin DFL?
DFL coin is the native token and the currency of DeFi Land gaming ecosystem. The token serves the following purpose –
- Staking & Incentives
DFL holders can participate and vote on proposals such as priority feature launches, rewards distribution and more.
Staking & Incentives:
Users can stake tokens and earn staking rewards. DeFi Land also allow liquidity providers to deposit tokens to the liquidity pools and earn LP incentives.
DFL token is used to purchase in-game assets and NFTs. The use case is similar to GALA games (GALA coin).
The total supply of DFL token is 10 billion
The token has an initial circulation supply of 586,335,000 (5.86%). The majority share is allocated to staking rewards, followed by team and advisors as shown below –
The vesting schedule can be observed from the table shared below –
DeFi Land Revenue Model:
DeFi land has multiple revenue streams that allow the ecosystem generate revenue and sustain it over a long period of time. The model generates revenue from the following sources –
- NFT Marketplace
- Item Renting
- Land Sales
- In-game advertising
The sources of generating income will expand as the ecosystem develops.
DeFi Land Gameplay:
DeFi Land gameplay is divided into two modes –
- Free to Play
- Play to Earn
Free to Play:
Free to play gaming mode is more of a learning experience for the newcomers. They can practice and learn about the industry without having to spend actual money. The gameplay includes the following elements –
This element will help users understand how the DeFi technology and crypto industry operates. Rather than integrating its own liquidity pools, DeFi land wants to create a collaborative ecosystem. It has successfully added Serum, Raydium, Orca, Tulip and many other DeFi protocols in the ecosystem. A great learning opportunity for beginners.
Buildings are designated structures inside the DeFi land, each serving a different purpose. For example, Market buildings, it is a place where the players can swap tokens i.e exchange one asset for another. Market building work similar to any other DEX like SundaeSwap or PancakeSwap crypto exchanges.
Similarly, you have houses, Farms, Voting palaces and more. Complete details shared on DeFi Land docs.
MiniGames are created for entertainment. Users can play, enjoy and earn XP. The highest earner will receive either DFL tokens or a special NFT at the end of every season. Fishing, shooting, racing are some of the minigames. Minigames are mostly action games
Checkout NFT Arcade App, a mini-game universe.
There will never be one size fits all kind of game. Therefore Idle games are developed for users who prefer laid back, slow-paced games. Cleaning land, Petting animals are some of the games that come under this category.
This one is a crazy thought. We know NFTs, what if your NFT come to life and be part of the game? Amazing right. DeFi Land is working with various NFT projects to give life to this feature. NFTs will help users win quests and rewards. The other feature includes the NFT gallery which allows users use NFT as avatars.
Play to Earn:
MiniGames / Idle Games NFTs:
MiniGames have extensive use. They aren’t just for fun, Minigames play a key role in the play-to-earn gameplay mode. Different minigames will require different NFTs in order to earn some income.
For example, in Fishing, the players will be able to catch bigger and better fish depending upon the rarity of the fishing rod. The same goes for Idle games.
Stay tuned for a surprise NFT sale and drop for users to be held in early 2022
NFTs are tradable assets inside DeFi Land therefore, the users can exchange them on DeFi Land’s own marketplace. The rarest NFTs are valued over the regular ones.
DeFi Land will have different islands for different chains. It will build on top of popular chains like Binance, Ethereum, Terra etc on layer 2. One website will be used to access all islands. The ecosystem will have cross-chain bridges that help with cross-chain transactions.
DeFi Land Technology:
The game is built using Unity Engine 2021.2.1 which helps create an interactive 3D experience. It is also equipped with WebGL technology that allows the game to run on the browser.
Another gaming project built on Solana i.e Star Atlas Game runs on Unreal Engine 5
The backend is hosted on Amazon Web Services (AWS). Details on the infrastructure part can be read on its technology page.
DeFi Land IDO:
DeFi Land launched its IDO on Solanium launchpad on Oct 14, 2021. The sale rate was pegged at 0.005 USDC with a pool size of 20 million DFL tokens. It is one of the most successful IDO, rewarding early investors with an ROI of 158x.
DeFi Land Benefits:
As stated in the Whitepaper, DeFi land is not competing with anyone but collaborating with popular projects by integrating them into its ecosystem. DeFi protocols like Raydium, Serum are already part of its growing ecosystem.
Solice Crypto Metaverse has also listed its SLC tokens (Dragon Fruit) swapping on DeFi Land.
The project is essentially a free-to-play educational portal for beginners. It helps them understand the basics of the crypto industry. This is an innovative way to bring in more retail users and convert them into active players by helping them transition to play-to-earn mode.
The project is backed by top investors. There’re 27 investors invested in the project which highlights its legitimacy.
Starting with Solana, the project aims to build itself on top of popular blockchains like Ethereum, Binance and Terra blockchain. The team has the vision to create different islands on each blockchain, connected by a bridge that can be accessed from a single website.
DeFi Land Drawbacks:
The economics of the gaming system is taken care by blockchain technology. However, it is hosted on AWS which makes it partially decentralized. A centralized hosting doesn’t make the ecosystem community-driven.
Disguised Team Members:
The project is led by top investors. However, the team behind it is still unknown. A strong project is known by the strengths of the team who created it and here, retail investors have limited knowledge of the members of the team which may affect their investment decision.
DFL Coin Price:
Please check the latest DFL Coin price, shared below –
DFL Coin Price Prediction:
DFL was launched in IDO at a sale price of 0.005 USDC. The token is listed on FTX and recorded an initial jump of $0.80. Later it dropped below $0.10 in the market crash of 2022 and is currently trading in the price range between $0.07 – $0.10.
The IDO investors have already made 150X returns on the token. However, the price action looks pretty bleak. The volatility is quite low and the competition is fairly high in this price range.
At the moment, it is very difficult to predict the price of DFL coin. Hitting $0.50 per token is the best-case scenario for the token.
Where to buy DFL Coin?
DFL Coin can be purchased from FTX and Gate.io. It can also be purchased from Raydium (Solana DEX).
Is DeFi Land worth Investing?
Backed by 27 investors, DeFi Land has something that no other project was able to deliver i.e helping users understand cryptocurrencies using gaming as a medium. The team has successfully gamified a lot of blockchain protocols, starting with decentralized finance.
The scope of the game is not just limited to DeFi, it has expanded to NFTs. Allowing users to use their NFTs as avatars and trade them on the marketplace is one of its key features. It has everything, a beginner requires to understand the basics of blockchain technology.
If this wasn’t enough, DeFi land has incorporated two Gameplay modes i.e Free to Play for learning & education and Play to Earn for earning a real income. The gameplay is designed to onboard both beginners and pro users which I believe is an effective strategy in the long run.
The game is promising, however, a lot of it is still under development. If you’re looking for quick short term gains, DFL may not be the right project to invest in because of low volatility. There’s a lot to be done to build the ecosystem and expand it on multi-chain platforms. In the end, it all boils down to your love of games and DeFi. If you love playing and earning then this is the right project to keep your eyes on.
Complete video review –
This completes my review of DeFi Land. In the next post, I will talk about Hyphen by Biconomy & Metapreme. If you’re a fan of blockchain technology then please do share this post on your social handles and educate everyone around you. Do remember to subscribe to my YouTube channel for more informative content, released every week.
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their own investment decisions and should only invest in cryptocurrency after proper research.
An MBA in Marketing. Paras have a decade long experience in the corporate world. He is done with office politics and corporate life, therefore decided to move on and jumped on building Katoch Tubes. He is a crypto fanatic and has the vision to bring cryptocurrency knowledge to every household in the simplest form possible using the power of internet. His area of expertise includes online marketplace, cryptocurrency and content strategy. Reach out to him on Twitter & YouTube.