Spielworks, a blockchain gaming startup, has joined forces with the Web3 platform Mycelium Network to launch an innovative program that enables users to receive full refunds for non-fungible token (NFT) purchases. Under this initiative, users who acquire “Reverties” NFTs are eligible to obtain a full refund in USD Coin (USDC). The partnership also introduces a separate minting mechanism that allows users to stake the new series of NFTs in Spielworks’ game called Dungeon Master and purchase them using USDC.
To facilitate USDC purchases, Spielworks will leverage the capabilities of Mycelium Network. During the minting transaction, the USDC will be transferred to a decentralized finance (DeFi) lending pool on the Aave protocol. The interest earned through this lending pool will be utilized to buy back Spielwork’s token, thus benefiting their community. Additionally, a portion of the earnings will be allocated to support the Wombat Protection Society of Australia.
Adrian Krion, the co-founder and CEO of Spielworks, highlighted the utility of these NFTs within their Dungeon Worlds game. Players will have access to mining power and material drops provided by these NFTs. While the NFTs are not technically fully-backed by USDC, users can sell them on the secondary marketplace or choose to receive a full refund if desired. Refunding the NFTs is a simple process that involves visiting the minting page and clicking on a refund button, which initiates the transfer of the NFT to the smart contract and deducts the refund amount from the user’s pool of funds.
This collaboration between Spielworks and Mycelium Network signifies an important step in blending blockchain technology, gaming, and DeFi principles. By introducing a refundable NFT program, they aim to enhance user confidence and promote greater adoption of NFTs within the gaming community. This initiative reflects the growing synergy between blockchain and gaming industries, offering players unique experiences while exploring the potential of decentralized finance.
As the crypto space continues to evolve, preserving this moment in history and supporting independent journalism can be showcased by collecting this article as an NFT.