DeFi11 is elated to announce its acquisition by game studio Vulcan Forged. With the acquisition taking place, DeFi11 will be completely absorbed by Vulcan Forged under the Vulcan Studios Umbrella, with $PYR being the sole utility token for both companies.
The acquisition aligns to the best interest of both organizations and their communities, and a step forward towards the mutual vision of creating a decentralized Play-To-Earn economy for the gamers out there.
What does this acquisition mean?
- For the $D11 Token : The trading of $D11 tokens will cease, and the existing tokens will be swapped by $PYR in proportion. Holders will be allowed to swap their tokens via a Token Swap Portal (link for same will be announced in subsequent announcements) and D11 tokens would eventually be phased out.
2. For the DeFi11 App : The app will continue to exist but under VulcanForged Ecosystem with $PYR being the in-app token and Elysium being the blockchain platform. Users will be able to play the game with $PYR tokens, and win rewards in the same. Multiple new features are also planned to be added as VulcanForged takes over the charge and plans to rebrand the DeFi11 app to Vulcan ELEVEN.
The DeFi11 team trusts the potential of gaming studio Vulcan Forged and believes that this acquisition will open multiple avenues for the community by exposing them to a new gaming ecosystem and several other exciting features.
What is DeFi11?
DeFi11 is a defi-powered gaming ecosystem for fantasy sports. The entire platform runs as a decentralized mobile application with an in-built smart wallet. The main motto with DeF11 is to make gaming platforms safe from Frauds and remove Lack of Transparency in Centralized Fantasy Sports Applications.
What is Vulcan Forged?
Vulcan Forged is an established community-based project currently valued over USD 100 million with a focus on the development of world-class blockchain solutions and games. It has over 10 games and projects including VulcanVerse, Elysium and MetaScapes, a 20,000+ community, and is a top 5 NFT marketplace by volume.
