Fairspin Bringing More Excitement to Blockchain Play-to-earn iGaming
Fairspin is giving a whole new meaning to the play-to-earn model iGaming industry with its innovative loyalty programs for users. The platform is built on the foundation of transparency and it achieves this through blockchain technology and its native TFS token.
Play-to-earn in iGaming: The New Goldmine
Blockchain technology has been criticized by numerous skeptics in the past, with some even predicting that the novel tech will amount to nothing in the future.
However, if the mass adoption of blockchain technology by players in virtually every sector of the global economy has not succeeded in making earlier doubters of DLT have a rethink, the exponential growth witnessed by the decentralized finance (DeFi) ecosystem in recent years will surely do.
While the DeFi ecosystem is still an overly complex puzzle for some average joes to navigate, others that have managed to crack the code have definitely experienced a turnaround in their fortunes.
According to data available on DeFi Llama, the total value locked (TVL) in DeFi protocols currently sits at $22.56 billion and the bulk of these funds come from retail investors.
It’s worth noting that in the past year, play-to-earn gaming model played an important role in the success of DeFi.
According to crypto data tracker and dApps store, DappRadar, nearly 50 percent of all active cryptocurrency wallets connected to DeFi platforms in November 2021, were for gaming, while other non-gaming dApps in the DeFi ecosystem experienced a 45 percent drop in the number of connected wallets.
Fairspin Transforming P2E in iGaming Sector
While DeFi yield farming, staking, liquidity mining, and lending used to be the only ways through which crypto holders earned decent returns on their crypto assets, the coming of play-to-earn model has given crypto market participants a whole new goldmine.
For the uninitiated, play-to-earn gaming model is a new trend in blockchain-powered games because it makes it possible for gamers to generate a steady stream of income by simply playing the game. Some of the top play-to-earn gaming platforms include:
Axie Infinity
Based on the Ethereum blockchain, Axie Infinity combines traditional video game elements and gameplay with the existing blockchain gaming model to offer players an exciting gaming experience while they earn unique NFTs that can be traded in the marketplace for hard currency.
Decentraland
Decentraland is another popular play-to-earn gaming metaverse. Also powered by Ethereum, Decentraland offers gamers a virtual world where they can create, monetize, and experience a vast array of content in the ecosystem.
Fairspin
Fairspin is a blockchain iGaming platform that is aiming to give a whole new meaning to online gaming. It relies on cryptography and blockchain technologies to offer players the highest level of transparency and immersive gaming experience.
The Fairspin ecosystem is powered by its native TFS token which is based on Ethereum. Players can both buy TFS token on decentralized exchanges like PancakeSwap and Uniswap or earn them via Fairspin’s unique loyalty programs: Play To Earn, and Hold To Earn.
Fairspin’s Play To Earn program is designed to reward players for gaming activities they undertake on the platform. Most of the games in the ecosystem, including Live Lottery, Black Jack, Keno, Wheel of Fortune, Live Roulette, Video Poker, and many others support the P2E feature and players must get rewards instantly irrespective of the outcome of the game.
On the other hand, in Hold To Earn, Fairspin users can freeze their available TFS tokens on the platform to earn tokenized rewards. The amount of the reward will depend on the period of holding and the platform’s income, as Fairspin shares its income with players.
“Once you receive TFS tokens via Play To Earn or purchase them, you will be able to hold the tokens for a specified period on the Fairspin platform. For doing this, you will receive pleasant rewards – additional TFS token. It means that a player can get income without any risks”, Fairspin explains.
The longer players hold their TFS token on the platform, while actively playing games, the higher the rewards they receive.
Both programs were launched a couple of months ago but already brought significant profit to their users. Thus, thanks to the Play To Earn program the Fairspin players have already got 29 287 214 TFS and the Hold To Earn program has already brought $669 469 to the TFS owners.
