SuperFarm is a decentralized DeFi protocol with a cross-chain platform for NFT mining and facilitated token utility. This might sound like a mouthful, but don’t worry. If you’re new to crypto, we’ll explain what all of this means. Since we know a lot of decentralized finance (DeFi) platforms and protocols, we’ll also explain what’s different about SuperFarm. #SUPER #superfarm
SuperFarm is a decentralized DeFi protocol with a cross-chain platform for NFT mining and facilitates the utility of tokens. This may sound like a mouthful, but don't worry. If you're new to cryptocurrency, Akan will explain what all of this means. #Defi代币
But before we get into that, let’s look at the traditional options that crypto speculators have after investing. It all comes down to two options: sell or hold. Many times, when speculators get in early, a project launches without a product. This means that its token has no immediate use case. Since the time between token sale and product delivery can be long, the only option for investors in these situations is to “bite the bullet” and wait.
What is Super Farm?
However, with the introduction of DeFi, there is a third solution besides "sell or hold", which is liquidity mining. Even so, speculators must be careful because staking project tokens to obtain more project tokens may lead to inflation mechanisms that dilute their value, especially when projects release additional tokens into the ecosystem, thereby exerting additional selling pressure.
So, what to do with tokens that need utility, and that’s where SuperFarm comes in handy. This cross-chain platform brings utility to any token in the DeFi ecosystem by turning it into an NFT farm. “Cross-chain” means that it can work with other blockchains besides Ethereum.
But for those of us who are not developers, the biggest benefit of setting up on SuperFarm is that there is no coding required. OK, that might not be the best thing for developers who want to earn a salary, but it is useful for those who want to bypass paying high developer fees when they are ready to set up an NFT farm.
What are NFTs?
So, what exactly are NFTs? NFTs stand for “non-fungible tokens,” and they could be the future of tangible assets like art, music, games, and even real estate. But the terms “fungible” and “non-fungible” can be confusing, so let’s dig a little deeper.
Fungibility applies to both real-world assets and digital assets. It describes the ability of an asset to maintain a standard value. For example, a $100 bill would be a fungible asset because a $100 bill is worth exactly the same as any other $100 bill. The superpower of a fungible asset is that it simplifies transactions between people. Imagine how confusing it would be if John's $100 bill was worth more than Mary's. It doesn't work.
Fungible and non-fungible assets
Therefore, denominations of fiat currencies are one example of fungible assets. Their values are standardized. Baseball cards, on the other hand, are an example of non-fungible assets. Some baseball cards may look exactly the same to the untrained eye, but the finer details make them unique. Therefore, baseball cards can have different prices.
However, when it comes to non-fungible tokens on the blockchain, the possibilities are endless. These tokens, or NFTs, can represent many other assets, not just currencies. NFTs rely on the blockchain.
NFT Features
Here are some of the distinguishing characteristics of NFTs from standardized fungible tokens.
NFTs are unique
These tokens contain unique metadata.
NFTs are rare
Scarcity is what makes NFTs attractive.
NFT cannot be counterfeited
This characteristic is crucial when it comes to artworks and markers of personal identity.
NFTs cannot expand
Different from fiat currency.
NFTs have many use cases, but blockchain gaming collectibles are still the main use case at the moment. SuperFarm is committed to enabling users to farm any NFT use case they want through a set of innovative visualization tools. Anyone or project can set up a new farm and customize the rules and incentives to get the desired user behavior. In addition, creators can set rules to incentivize longer staking, get more liquidity providers by offering higher rewards, or grant special access rights to NFTs.
NFT Farm House
Now that you have a better understanding of what NFTs are, we’ll look at how SuperFarm enables projects to use them to add new utility to their tokens. And how SuperFarm connects tokens to products through its simple set of building blocks.
The role of the SuperFarm platform is to provide a combination of NFT farming and crypto farming. Therefore, users can build their own farms and deploy new NFTs. Without leaving the platform, they can also build their own customized marketplace to sell their products. SuperFarm brings together the basic functions of NFT infrastructure in one place to provide users with an excellent user experience.
Solving problems with SuperFarm
In DeFi, setting up NFT mining has always been a complex process involving coding. By streamlining the process, the team believes SuperFarm will do for NFT mining the same thing that Uniswap did for liquidity pools. SuperFarm aims to solve the complexity of NFT farming by empowering users to set up NFT farms and quickly create their collectible ecosystem. All without having to hire developers or write code yourself.
SuperFarm enables multiple features that are critical to the future of NFTs. Some of these features are:
NFT Farming
Anyone or project can easily set up an NFT farm using custom rules backed by SUPER tokens. However, a minimum of 100k SUPER must be acquired to open a farm.
NFT Store
The NFT store is another feature of SuperFarm. This store allows users to redeem the points they earn from farming. Or users can directly purchase NFTs with cryptocurrency.
NFT Creation
This feature is the most anticipated and will allow users to generate NFTs from SuperFarm’s intuitive interface.
A billion new cryptocurrency users?
Some believe that NFTs will bring 1 billion users to cryptocurrency. This is because some like the SuperFarm team believe that most of the world’s population is not financially literate enough to understand DeFi. Therefore, they believe that standalone DeFi products will not be able to appeal to the masses around the world.
NFTs and Video Games
In contrast, NFTs are versatile and can be easily incorporated into products with universal appeal — most notably video games. Gaming is a top use case for NFTs as the number of gamers globally hovers around 2.6 billion. Not to mention that gamers spend an estimated $180 billion on digital assets each year. Additionally, gamers are tech-savvy and have an average age of 32.
This demographic alone has the potential to transform the cryptocurrency community. With billions of gamers spending hundreds of billions of dollars each year on their passion, this would be an excellent addition to help take crypto mainstream. But one has to ask the question: “If gamers and NFTs are such a perfect match, why haven’t they appeared yet?”
The Innovator’s Dilemma
There may be other reasons why gamers haven’t joined blockchain en masse. But first and foremost, in today’s video game model, gamers don’t own in-game assets. Instead, they typically rent them.
Therefore, game studios are not in a rush to implement blockchain and cryptocurrency technology. This is because gamers owning these assets would reduce their revenue. If gamers were allowed to buy and trade among themselves, this could seriously weaken the studios' competitiveness in the secondary sales market. Therefore, it is not surprising that major studios are not in a rush to adopt blockchain.
This makes independent studios and startups the main target market. But they already fight an uphill battle not to introduce new technologies into their projects. That’s why some call it the classic “innovator’s dilemma.” In the case of blockchain, it puts the industry in a dilemma of finding quality products.
That’s why its founders created SuperFarm. They sought to bridge the gap between blockchain and the booming gaming industry.
If all goes according to plan, SuperFarm’s NFTs, as well as NFTs from its official “partner farms,” will gain utility in real AAA video games (video games made by mid-sized or large publishers). SuperFarm’s NFT users can access limited edition items in video games. They can also use and trade their assets in new digital realms. In doing so, NFTs can unlock unique digital experiences.
If you build it, will they come?
The founders of SuperFarm disagree with the cliché that “if you build it, they will come.” Other projects have adopted this line of thinking, but the team believes that simply hoping someone will magically appear and build a killer game on your technology platform is wishful thinking. Instead, they chose to break the mold of previous NFT projects and focus on prioritizing utility over infrastructure.
Super Tokens
This brings us to the platform's native token, the SUPER token. It will have a variety of use cases within the SuperFarm ecosystem, but will primarily be used for governance and fees. However, the SUPER token will also provide exciting opportunities through the Superverse (see below), partner video games, and NFT Drops.
SUPER token holders can participate in governance by voting on proposals. Eventually, SuperFarm will evolve to be fully decentralized and entirely owned by its token holders. Holding SUPER tokens will be a prerequisite for anyone wanting to use key features of SuperFarm, such as exclusive NFT drops and access to the rarest NFTs.
Users can also stake their SUPER tokens to earn exclusive NFT rewards on premium partner farms. These SUPER tokens will be available for purchase on Uniswap. Participants must purchase a minimum of 100k to set up a farm.
The reason for forcing users to “skin in the game” is to prevent spam attacks, improve farm quality, and drive demand for SUPER tokens. Thus, SUPER tokens will power the SuperFarm network.
Super Universe
In the SuperFarm ecosystem, there exists something commonly referred to as the “Superverse.” Superverse will feature exclusive NFT drops from multiple partners of the platform. However, to gain special access to Superverse NFT releases, users must hold the required number of SUPER tokens. Likewise, owning SUPER tokens also comes with privileges.
Super Farm and Discoverability
Well-known cryptocurrency YouTuber EllioTrades is the co-founder of SuperFarm. With over 200,000 members across Telegram, Twitter and YouTube platforms, the EllioTrades community is considered the leading altcoin community. The extended network includes influencers in the crypto content creator community with over 1 million crypto users worldwide.
Since EllioTrades helped create SuperFarm, it means SuperFarm can offer something that no one else can – discoverability. Its discoverability is another point of differentiation from other platforms trying to do the same thing.
SuperFarm’s investors and partners
Some of the top NFT investors and biggest crypto influencers such as Bitcoin.com, Animoca Brands and Matic are already “on board” and support SuperFarm’s vision. The team is looking forward to working with the next generation of blockchain gaming projects – the more disruptive the better!
Super Farm Conclusion
All of this NFT farming expansion could open up possibilities for large-scale value creation and position SuperFarm to be the next evolution of the blockchain industry.
Since many tokens lack utility, any community can now harness the power of NFT mining to drive demand for their tokens and gain community engagement, and this type of mining may prove valuable. By providing an easy-to-use, code-free, and intuitive setup process, the barrier to entry for NFT mining is significantly lowered.
SuperFarm could be the next generation of NFT infrastructure, and the demand for blockchain value creation is always growing.
So, will SuperFarm be another stepping stone on the road to NFT development? As people's recognition of NFTs continues to increase, it may be the right time and place to completely change NFT infrastructure.
