DeFi and NFTs have almost always existed as distinct landscapes
Both existing on predominant blockchain networks illustrate that they are more connected than we understand. GryffinDAO (GDAO) is a new project that aims to bring DeFi and NFTs together in an ecosystem.
NFTs exploded in 2021, with the market recording daily volumes in the millions of dollars. The space has been influential for creators and artists, enabling creators to get more out of their work. However, it has had no impact on the cryptocurrency market as a whole. As a result, the cryptocurrency market had a minor effect on the NFT landscape than the DeFi market.
The crypto market may be in a bear market, but the NFT landscape will continue to see high trading volume regardless of token momentum. NFTs are more than just art, and with networks like Decentraland (MANA), Sandbox (SAND), and others creating virtual worlds out of them, the future looks bright for projects looking to develop tailored solutions for it.
DeFi, on the other hand, exploded in 2020 as the market realized the limitless opportunities it provided. DeFi functions similarly to a banking system but without a banking system. All central bodies and authorities have been eliminated, allowing users to reclaim 100% of gains that could have gone to significant bodies such as banks.
Decentraland the Ethereum-based virtual reality platform
Decentraland (MANA) is an Ethereum-based virtual reality platform. In this virtual world, you purchase land parcels from which you can later explore, develop, and profit. The possibilities are endless.
In Decentraland, the areas you interact with are LAND, which are non-fungible digital assets purchased from other players. You can own LAND NFTs on the platform and use them as you see fit. The LAND can be viewed as a virtual representation of real estate. You can create 3D dynamic scenes, such as a virtual school, museum, or casino.
It offers an entirely immersive experience made possible by augmented and virtual reality. However, you participate in a three-dimensional world instead of playing on a two-dimensional screen. It appears to be the gaming industry’s future, as it has always sought ways to make games more intense and realistic.
The new decentralized protocol: GryffinDAO (GDAO)
GryffinDAO is a new decentralized protocol that has been added to the BNB Smart Chain. The GryffinDAO protocol seeks to integrate NFT and DeFi utilities into a single ecosystem. It will provide its community access to various features that distinguish the platform. Bonding and liquidity bootstrapping are two innovative DeFi offerings that can help bring the protocol to a new market, resulting in an inflow of liquidity and profit for early buyers.
GryffinDAO is a community-governed project, and it has proven to be a very effective model for growth and ensuring that projects have a direction. It will use its NFT offering to power its gaming platform, NFT marketplace, and virtual reality.
On the GryffinDAO gaming platform, various NFT collections will be available, some of which will be required for gameplay. In addition, the gaming platform would display the multiple rarity classes and NFT use available cases. In addition to the NFTs generated by the platform, GryffinDAO allows community members to create their own unique NFT designs for use in the gaming industry. This improves our users’ overall gaming experience while also generating additional revenue.
After a successful stage 1 presale, GDAO is now in stage 2. Purchasing the token now is inexpensive and comes with attractive bonus offers. For example, when you buy with top cryptocurrencies like BNB, ETH, USDT, and BNB, you can save up to 12%. Consecutive purchases can earn you up to 95%, which means you could end up with far more GDAO tokens than you paid for. On the other hand, the referral program allows you to earn without purchasing a token—you get $40 for every $200 your referee spends on the presale.