Integrating the principles of circularity with immersive Web 3 gaming.
Sometimes an event is both literally and figuratively a game changer. This week Mycelium Network is proud to announce its partnership with Spielworks to bring their unorthodox concept of refundable NFTs to the blockchain gaming space.
Wombat Reverties are refundable NFTs which can be used in game for the owners advantage while at the same time benefiting the entire Wombat community. The non custodial protocol allows players to mint their Reverty for 25 USDC which is deposited in Aave during the item’s creation transaction. The interest generated by the collective of Reverties users is used to buy back and burn Wombat tokens and to support the WPSA.
Reverites provide mining power and material drops, adding a valuable gameplay element to enhance Spielworks’ Dungeon Worlds game. At any time Reverties can be burned with the push of a button and the USDC attributed to the item is automatically returned to the item’s owner. This exceptional blend of features enhances a vibrant and ever evolving gaming experience while allowing the games community to work in unison.
An industry leading start up Spielworks innovative approach to gaming and Web3 solutions has seen the continued growth of an ecosystem which has attracted 3.7m signups with 150k monthly active users. The ecosystem comprises the multi-chain non-custodial Wombat Wallet, the Womplay crypto rewards platform with over 150 AA- and AAA-supported titles. Last but not least, Wombat Dungeon Master, a Top 15 NFT staking game with 1.5 million staked NFTs.
‘It has been great to collaborate with a strong team who continue to set precedents in the world of gaming and Web3, we look forward to learning more from them whilst expanding this concept further. Mycelium Network is all about circularity and it is evident that Spielworks are committed to a relationship with their community that benefits all.’- E.Spillane
Following a turbulent period which saw bad actors tarnish the reputation of a technology which holds untold potential it is good to see that the ethos of reciprocity is alive and well in Web3. This development showcases the advantages of non-custodial infrastructure and the utility DLT technology offers that legacy systems can not. Furthermore the incorporation of a mechanism for fundraising for a cause provides another example of how we can make a wider social impact through the act of participation in something we enjoy.
“Together with Mycelium Network we are revolutionizing the NFT space by enabling our users to return their NFTs and get refunded in USDC,” says Adrian Krion, CEO and Co-Founder of Spielworks. “The Reverties are not just making it more convenient to buy NFTs by enabling payments with one of the largest stablecoins, they are also shifting the concept of purchasing away from the ‘you pay us’ towards a ‘we all benefit’ notion because the entire community reaps the rewards of the interest put in the lending protocol.”
With its headquarters located in Berlin, Spielworks was founded in 2018 by Swen E. Hallasch and Adrian Krion. Spielworks brings the benefits of blockchain to mass-market gaming: True ownership of digital assets, secure handling of tokens and comfortable interaction with exceptional blockchain games. For more information, visit https://wombat.app.