UFO Gaming Crypto Staking Explored
The development of blockchain technology over the last couple of years has brought many new and exciting concepts to this nascent asset class. There are none more exciting than the crossover between blockchain, crypto, and gaming, such as UFO Gaming.
Popularly known as Play to Earn (P2E), this novel concept allows gaming fans worldwide to earn rewards while competing in competitions and tournaments. Most games are free to play, but players can purchase NFTs from rewards earnt during the game.
One of the latest P2E games on the market is UFO Gaming, designed by a team of crypto and gaming enthusiasts to 'bridge the gap' between blockchain and gaming.
The team has managed to create an elaborately exquisite environment they have called the Dark Metaverse, where all the action takes place. Here players can build profiles and earn rewards, which can then be used to buy in-game items that players can own.
UFO Gaming has had a strong start and developed partnerships with some of the biggest names in crypto and gaming making. This a project which has caught my eye.
For players to play the game, they must first generate Plasma Points and/or UFO Rewards, which can then be used to purchase in-game items and NFTs. This is achieved by staking your precious UFO Gaming crypto tokens, $UFO, on the in-house smart contract. Once tokens have been acquired, players can purchase Genesis NFT Soldiers, which are required to play the debut game Super Galactic. All staking rewards enter a 12-month vesting period after claiming.
There has already been a fair amount of interest in staking, with some $2.7 million already staked. With an average APR of 40.9%, it is easy to see why. Players can choose between Locked or Flexible staking, which, as the terms suggest, depends on whether they want to claim their rewards straight away. However, Locked Staking generates 2x more rewards than Flexi Staking.
Players only need one NFT to begin playing the game. However, with a maximum number of 10,000 available, it is easy to see why demand has been so high. Once the NFT creation phase completes, interested parties will be able to trade NFTs on the NFT marketplace.
This all sounds great. Where do I get my UFO Gaming crypto tokens?
In a sign of the size of the project and overall confidence, the native coin is available from several primary sources. Both centralised and decentralised exchanges are listing $UFO.
However, the main places you can purchase the token are KuCoin, UniSwap, Gate.io, and ShibaSwap. It is also available from BitMart and MEXC. Current statistics show there are 66,636 holders of $UFO, which, according to the latest market data, has a price per coin of $0.00000197.
The UFO Gaming crypto project has been developed around 4 core values which underline its commitment to the twin realms of blockchain and gaming. These are:
Community – the project is 100% community-owned and strives to keep decentralisation at the heart of every decision.
Gaming – being gamers at heart, the project has been designed to challenge and empower gamers in all aspects of gameplay.
Accessibility – The game has been designed to break down any hurdles surrounding blockchain technical jargon making the game accessible to players of all levels.
Ambition – Not satisfied with maintaining a status quo, the team behind the platform has big plans for the future.
UFO Gaming crypto partners
Apart from impressive statistics on the amount already invested, the project stood out due to the number of industry partners to have already signed deals. Some of the biggest names in crypto are associated with the project, which points to the project's legitimacy. KuCoin, Chainlink, Polygon, and ShibaSwap are all listed on the website, which gives me confidence in the team and project.
As you can see, UFO Gaming is in a perfect position to take the P2E world by storm.
The product it has created is slick and fun to play and has so far generated more than $2.7 million in value staked. The recent hosting of a $10,000 gaming tournament and the acquisition of a first-class e-sports team shows how ambitious the team behind the project really is. This is a project to watch out for in 2023.
Author: Brendan Beeken
Moni Talks Founder and Chairman Brendan Beeken is an entrepreneur, commercial strategist, investor, and philanthropist. He writes on a wide range of subjects, including cryptocurrency, decentralised finance, blockchain, business advice, and professional wellbeing, for news and business websites, as well as Latest Moni and his personal site, brendanbeeken.com. Brendan draws from his own research and more than two decades of personal experience in business to offer a unique insight, perspective, and commentary on diverse subjects. He is passionate about making the cryptocurrency space more accessible and encouraging safer and more responsible trading and investing. Brendan's LinkTree is https://linktr.ee/brendanbeeken.