Gaming has long been touted as one of the best use cases for blockchain-based technology, and the past couple of years put that to the test.
Amid the various trends that we saw come and go during the last bull market, play-to-earn is perhaps the one that many people had their sights set to. In a bid to create digital environments where players could both enjoy their favorite games while also earning money doing it, many projects attempted to create the perfect blockchain game, and many failed.
Toon Finance is a protocol that brings forward a decentralized exchange application designed to fix the externality issues that surround the demand for P2E gaming by providing a metaverse backed by the prominent SHA256 encryption model.
What is Toon Finance?
Toon Finance is the result of researching existing P2E games and concepts and the identification of key inconsistencies noticed by the founding team.
The team behind the protocol realizes that not all users want to go for a player-versus-player (PVP) experience, and that’s why it has diversified its offerings by introducing the so-called Space Explorer world where users are able to play versus the environment.
However, to also toon in that competitive spirit, there will be Player vs. Player Battle Grounds, as well as a leaderboard system for those who choose to participate in them. Users who achieve the top rankings will also receive NFT airdrops on a continuous basis, which can then be used in the system.
The project is already gaining certain recognition as CoinMarketCap recently polled users and came to the conclusion that it’s a top pick by means of engagement growth.
#CMCCommunity Ranking ?
— CoinMarketCap (@CoinMarketCap) October 26, 2022
The project is listed on CryptoCom – one of the major trading and lending platforms in the industry.
What About the Tokenomics?
Toon Finance’s native cryptocurrency is called the Toon Token. It will be used in the Coin & Checkers battleground, with more and more games being introduced after the protocol goes live.
Players will be able to put their tokens to use to advance their characters while also purchasing NFTs that will help them further their progress in the P2E setting, ultimately providing them with quicker slashing because players will be able to buy and equip new non-fungible tokens for battle.
The token will incur a 2% developer tax, as well as a 25% tax that’s allocated to the P2E prize pool – these will be placed on NFT purchases in the P2R system only.
To have a chance at winning and collecting the prize tax pool, users will also be able to join forces and team up.
The presale is ongoing, and users can check all the information they need on both CoinMarketCap and CryptoCom’s ICO pages. The first 1,000 members will also receive an airdrop.